General Trading Chat

[rjshem]

Just read a very old post from RJSHEM..Does this also hold true when trading rejections.. especially at VPs?

It applies to everything in general as patience and persistence is key to succeed in anything in life.

 

[onequorauser]

It applies to everything in general as patience and persistence is key to succeed in anything in life.

I understand what you are trying to say. The reason why I asked this specifically around failure at VPs as you usually have have a set contradicting thoughts if the BO does not go through smoothly.

First could be to stay with the trade considering that you have had a good entry and the second could be an attempt to scratch the trade as you had mentioned in this quote and third could be to get out and start gearing up for failure trade as it would allow for a very narrow SL. The question that I was trying to ask was when do you move from first mindset to the third one

Below is today's chart. A similar situation had arisen at about 12:19 (second green dot at top) Earlier you had mentioned about failures being more likely later in the day. Is there anything besides the time of the day that matters here?

 

[Sanjay chanda]

Gd night

 

[sanju005ind]

I understand what you are trying to say. The reason why I asked this specifically around failure at VPs as you usually have have a set contradicting thoughts if the BO does not go through smoothly.

First could be to stay with the trade considering that you have had a good entry and the second could be an attempt to scratch the trade as you had mentioned in this quote and third could be to get out and start gearing up for failure trade as it would allow for a very narrow SL. The question that I was trying to ask was when do you move from first mindset to the third one

Below is today's chart. A similar situation had arisen at about 12:19 (second green dot at top) Earlier you had mentioned about failures being more likely later in the day. Is there anything besides the time of the day that matters here?
View attachment 32944

Sometimes the current market conditions and chart structure needs to be taken into account. For 5 min chart i sometimes look at 15 min. Because it has to complete the structure and then it becomes clear.

 

[PreSap]

I understand what you are trying to say. The reason why I asked this specifically around failure at VPs as you usually have have a set contradicting thoughts if the BO does not go through smoothly.

First could be to stay with the trade considering that you have had a good entry and the second could be an attempt to scratch the trade as you had mentioned in this quote and third could be to get out and start gearing up for failure trade as it would allow for a very narrow SL. The question that I was trying to ask was when do you move from first mindset to the third one

Below is today's chart. A similar situation had arisen at about 12:19 (second green dot at top) Earlier you had mentioned about failures being more likely later in the day. Is there anything besides the time of the day that matters here?
View attachment 32944

I had a similar experience with Grasim Futures today. Almost similar chart.


Sent from my iPhone using Tapatalk

 

[VJAY]

I understand what you are trying to say. The reason why I asked this specifically around failure at VPs as you usually have have a set contradicting thoughts if the BO does not go through smoothly.

First could be to stay with the trade considering that you have had a good entry and the second could be an attempt to scratch the trade as you had mentioned in this quote and third could be to get out and start gearing up for failure trade as it would allow for a very narrow SL. The question that I was trying to ask was when do you move from first mindset to the third one

Below is today's chart. A similar situation had arisen at about 12:19 (second green dot at top) Earlier you had mentioned about failures being more likely later in the day. Is there anything besides the time of the day that matters here?
View attachment 32944

IMO no need to check timing of happenings!! When oportunity comes its no place for timing...yes as rjshem said afternoon failure trades is most probable trade.....its not means you not take trade if it happens before noon

 

[onequorauser]

IMO no need to check timing of happenings!! When oportunity comes its no place for timing...yes as rjshem said afternoon failure trades is most probable trade.....its not means you not take trade if it happens before noon

I agree with that and that is why the question... What besides timing should one see? Because the process will involve closing one trade and initiating another one opposite to the first trade. So what in PA will convince you to do that? Are there factors besides PA such as sideways that will play a part in the decision as well?

BTW Appreciate the feed back from everyone here!

 

[ravi2126]

@Smart_trade What's ur view on HEG / GRAPHITE...?

 

[Smart_trade]

@Smart_trade What's ur view on HEG / GRAPHITE...?

In short term not very bullish as steel demand is going down...

Smart_trade

 

[ravi2126]

Finally, YESBANK finds CEO