Learn How To Fish

[raju.vzm]

Aug26: 3 trades, all of them scratched.

1 St one - mpl bd below vpl
2 nd one - mph bo above ERL ( seems it is wrong trade,, not in clear trend before to use ERL)
3 rd one - as per reentry rule in dt

Vijay sir, found it difficult to trade yesterday in TS. Please let me know if you see any other trades or comments on the above trades.

Sent from my Realme1 using Tapatalk

 

[VJAY]

Aug23 trades:
Took that trade as Vph Bo failure.

Haven't taken a trade at mph bo above erl. it seems price moved bit more between ERL and mph. Vijay will you take this trade?

Sent from my Realme1 using Tapatalk

will not take it as mph far away from erl

 

[VJAY]

Aug26: 3 trades, all of them scratched.

1 St one - mpl bd below vpl
2 nd one - mph bo above ERL ( seems it is wrong trade,, not in clear trend before to use ERL)
3 rd one - as per reentry rule in dt

Vijay sir, found it difficult to trade yesterday in TS. Please let me know if you see any other trades or comments on the above trades.

Sent from my Realme1 using Tapatalk

as per your chart when 1st bar opened abv mph so there shud be one VPL....as per that vpl we got mpl too far from vpl so no 1st trade....2nd no trade reason as you mentioned,3rd trade yes its correct trade

 

[raju.vzm]

Aug28th-

Sent from my Realme1 using Tapatalk

 

[VJAY]

If your journal showing everyday this or that wrong trade/errors then you need to serious look on you plans ..

Sent from my ASUS_X00TD using Tapatalk

 

[roughim]

Wrong post

 

[VJAY]

17 Trading Advice from Richard Dennis



1. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.

2. A good trend following system will keep you in the market until there is evidence that the trend has changed.

3. When you have a position, you put it on for a reason, and you’ve got to keep it until the reason no longer exists.

4. You should expect the unexpected in this business; expect the extreme. Don’t think in terms of boundaries that limit what the market might do.

5. If there is any lesson I have learned in the nearly twenty years that I’ve been in this business, it is that the unexpected and the impossible happen every now and then.

6. Trading decisions should be made as unemotionally as possible.

7. Trade small because that’s when you are as bad as you are ever going to be. Learn from your mistakes.

8. I could trade without knowing the name of the market.

9. In the real world, it is not too wise to have your stop where everyone else has their stop.

10. You could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline.

11. There are lots more false breakouts, perhaps because there are more computer-based trend followers.

12. It is misleading to focus on short-term results.

13. You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. What you can’t afford to do is throw away your capital on suboptimal trades.

14. I learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.
15. Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is a testimony to the fact that the majority is wrong a lot of the time.

16. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people.
17. I’ve learned that markets, which are often just mad crowds, are often irrational; when emotionally overwrought, they’re almost always wrong.





Sent from my ASUS_X00TD using Tapatalk

 

[roughim]

After print of VPL now if any bar breaks down last made mPL then current high becomes VPH
After print of VPH now if any bar breaks down last made mPH then current high becomes VPL

Can u pls look into if this needs some correction like in high/low or i'm making some wrong interpretation.

 

[raju.vzm]

Can u pls look into if this needs some correction like in high/low or i'm making some wrong interpretation.

I don't see any issue with that diagram,, can you let us know ur exact question there..

Edit: Got it. I think by mistake used break down instead of break over in the second point description part. Same thing with current high instead of current low..

Sent from my Realme1 using Tapatalk

 

[roughim]

NOT THE diagram but the quote....
"After print of VPH now if any bar breaks down last made mPH then current high becomes VPL" i think it should be low instead of High