I have short the SBI is it right time

#3
I have short the SBI is it right time. Is there anyone who thinks its right time to sell.
Dear new member, try to think like this:



and this:



Some one of our members posted those screen shots in the past and I kept them, as it represents the power of using our brains and believe in what we do.

Guess it was Amitrandive or Niftyoptions who posted it. I see you already have found there threads, so you may adapt such ways of thinking and it surely helps you to have more self confidence about what you do as a professional trader.

Take care and only the best for any of your trades / Dan :)
 

umeshmandal

Well-Known Member
#4
I have short the SBI is it right time. Is there anyone who thinks its right time to sell.
It may give you profit but after causing a lot of stomach ache ! :p
Mean to say , it may be a wrongly timed short !
Last four days its been moving up and up and up and with Huge volumes.
In a way we are trying to bring down a shooting rocket ! Better would be to short it when it looses momentum ! Looking at EOD chart today , my preference would be to short it below todays Low !

But you never know as when a fluke trade hits a bulls eye ! Anyways as you have already shorted SBI, best is to follow Test123's advise, keep a SL and take God's name ! :D

Do share your reason for shorting it?
 

sangram1705

Well-Known Member
#6
I have short the SBI is it right time. Is there anyone who thinks its right time to sell.
Hi tt,
You have sold into strength. See the chart.
current upmove has strong momentum & already the supply area was once shot through. Once a resistance is broken, it looses its power.

Ideal trade would have been to wait for price to be rejected from that rectangle.

Now what can happen:
scenario 1: price is rejected from that area & you are in profit.
scenario 2: price breaks out & your bp increases
scenario 3: price starts moving sideways & you loose your sleep
scenario 4: breakout & then pullback. initially your tension increase, then you start thinking price is falling & start hoping you will be in profit but bang price starts moving northwards.

I think these type of trades fall into the category of either revenge trade or acting on someones tips.
 

mastermind007

Well-Known Member
#7
I have short the SBI is it right time. Is there anyone who thinks its right time to sell.
Yes, you are in counter-trend. Keep a very small stop loss.
 

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