Hi Saint Sir,
Here are the rules which I have fixed for trading...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only to add to a winning trade
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!
Will be starting paper trading from Monday after going through your docs again..I will also let you know my basis for entering a trade and exit.
Please give me your valuable feedback.
Regards
Lalith
Here are the rules which I have fixed for trading...I hope I have covered everything in this..Please let me know if you have any suggestions..
1) Before entering a trade the SL will be fixed
2) The SL will never be moved under any circumstances...Under ANY CIRCUMSTANCES
3) For Intraday SL will be 8 points or previous pivots and the aim of each trade will be to get 12 points
4) After 12 points, if trend favours,trailing stop loss will be used
5) For Positional Trading the SL will never exceed 100 points
6) Will be going for maximum 3 trades intraday if all are successful
7) Aim is to get 100 nifty points every week excluding brokerage
8) Will be trading with 1 lot and 2nd lot will be used only to add to a winning trade
9) Ultimately will enjoy trading
10) and finally there wont be any emotions in any trade and will Keep Walking!!!
Will be starting paper trading from Monday after going through your docs again..I will also let you know my basis for entering a trade and exit.
Please give me your valuable feedback.
Regards
Lalith
Lalith here we only follow 60 min trades and for stop loss we dont have fix rules for stopl loss as you are saying it should be 100 point max .........
it is the only previus pivot taken as stop it may be 100,120 ,150 point away and you adjust your no. of trade accordingly
No aim to get fix nifty points on weekly basis we just follow trailing stop when hit we revesred
please go thru the first post again
Regards
Satya