I was doing Intraday trading and the results were nothing to talk about. Though the strategy would give positive results if traded with discipline, which I lakced during Day trading, getting swayed by TV and other traders views at my broker's place.
I am now trading both : Intraday as well as Positional trades based on RT chart converted to EOD.
My latest entry was in Aban : Long on 1st January @ 385.20 , I will add more qty above 395.20
(Earlier recent trades in Aban was : Long >390.20 , did a high of 403.85 giving a profit of ~ Rs.13/- per share but exited below 387.00 with a loss of 3.20 per share. My T1 was 405 where I would have exited but that did not happen. Actually 387 was a reversal to short but Aban is no longer in futures hence couldnt short, otherwise it went down to 373.70, again could have given a profit of ~Rs13+ ! )
This is my weak point. I err in deciding exit level. Any views on where to exit when trading EOD charts or what strategy to use to decide on Exit level!!!
I am now trading both : Intraday as well as Positional trades based on RT chart converted to EOD.
My latest entry was in Aban : Long on 1st January @ 385.20 , I will add more qty above 395.20
(Earlier recent trades in Aban was : Long >390.20 , did a high of 403.85 giving a profit of ~ Rs.13/- per share but exited below 387.00 with a loss of 3.20 per share. My T1 was 405 where I would have exited but that did not happen. Actually 387 was a reversal to short but Aban is no longer in futures hence couldnt short, otherwise it went down to 373.70, again could have given a profit of ~Rs13+ ! )
This is my weak point. I err in deciding exit level. Any views on where to exit when trading EOD charts or what strategy to use to decide on Exit level!!!