ST da,
Please share your thought process behind buying NF yesterday....
I do only intraday ,but planning to start swing in NF Futures/options ,Please advise how much capital per lot is required for the same and building a trading plan around it ...
Thanks in advance
Simple thought process....in swing trades I follow intermediate /visual trends which is up...there is no sign that it has changed to downtrend. We get minor downtrends and uptrends every day...but our eyes for swing trades should be on visual/intermediate trends.
In swing trades in uptrend I buy the extreme panic, and sell the rallies to buy the dips again. But my overall holding will be long....I am fully aware and prepared for biting a bullet and take 40-50 points loss in a trade when the trend changes...but till then I will have plenty of points in my pocket ( in the current trade, half of my month's target is already done in just 1 day....so will be more than happy to take a 50 points SL in swing trade....as I have already pocketed many such 50-100 points moves already...
I dont predict the market ...how far it will go etc....but many will remember that when Combo hit its stoploss, I had posted that now after hitting 8300 stoploss, the market will not go up by 50-100 points but will do 300-400-500 points now...so that also is in the background though I cannot say where the current trend will end....all those channelling, Fibonacchi etc are just estimates...just be with the trend....and dont say
"Market Topped Out " ,Negative Divergence etc when we see a minor downtrend.
The above is enough for being a happy trader.
Smart_trade