General Trading Chat

lemondew

Well-Known Member
Ok thanks for guiding me on the first 2 trades. I seem to have got the gist of it and am able to set some levels . Will keep informing you on the progress. I plan to wait out little more for my longs tho. Thanks again. Your rules ve been simple and clear.

If you have got out of long position ,then above 8540 one should enter in long again.Uptrend seems to be intact as of now.

Smart_trade
 

lemondew

Well-Known Member
I ll be happy with 100 points a month to start with. Will wait out :) for now.


Currently we are in 8480-8600 range.So one can sell around the top boundary and buy back around the lower boundary ,eventually it will break in either direction but till then play this sideways move.

One can sell straddle to take advantage of sideways move.

ST
 
@snake.head, this page reminded me of significance of non action in telebs book. Our society has taught us to reward only action. Non action is always frowned upon. Just like we go to a doctor, and the doc examines and decides not to give a medication, since the body is capable of recovering by itself. The doc actually did a favor to the body by shutting off useless chemicals entering our body and reinforcing our immune system. But for such a doc, we wouldn't like to pay any fee. We might think he's ill qualified to prescribe hence a bad doc. Numerous such things in our daily life has made us beings of action. Which never lets us learn the benefits of non action.

You took the trade, action is done. Now it's time for non action to reward you. Micro managing a trade on every swing is our natural inclination, remember how we attach rearward to action only. The only action needed would be to scale in or out, at levels that really matter. Other than that, leave alone the trade.
 
@snake.head, this page reminded me of significance of non action in telebs book. Our society has taught us to reward only action. Non action is always frowned upon. Just like we go to a doctor, and the doc examines and decides not to give a medication, since the body is capable of recovering by itself. The doc actually did a favor to the body by shutting off useless chemicals entering our body and reinforcing our immune system. But for such a doc, we wouldn't like to pay any fee. We might think he's I'll qualified to prescribe hence a bad doc. Numerous such things in our daily life has made us beings of action. Which never lets us learn the benefits of non action.

You took the trade, action is done. Now it's time for non action to reward you. Micro managing a trade on every swing is our natural inclination, remember how we attach rearward to action only. The only action needed would be to scale in or out, at levels that really matter. Other than that, leave alone the trade.
 

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