my MCX trades.

[nitingosavi]

good. But I am sitting on the fence. Had my dinner, still no trade for me until it reaches at some logical point of imbalance.

how do u determine logical imbalance bro? what it means?

 

[Dax Devil]

how do u determine logical imbalance bro? what it means?

I don't do anything special, friend. Combination of vol, PA etc. tells the imbalance, that is when the selling or buying is really on. In between it is just noise that traps traders. Right now, for example, I can't see enough buying for breakout or selling to take it below 3000. So for me, it is noise. Yet the equation can change in matter of seconds.
But if you are just looking for quick points, then it doesn't matter.

 

[nitingosavi]

I don't do anything special, friend. Combination of vol, PA etc. tells the imbalance, that is when the selling or buying is really on. In between it is just noise that traps traders. Right now, for example, I can't see enough buying for breakout or selling to take it below 3000. So for me, it is noise. Yet the equation can change in matter of seconds.
But if you are just looking for quick points, then it doesn't matter.

when I trade in big Qty say 10-20 lots in crude.. I look for quick profit.. 5 points or more but once I entered I never book at Quick profit points.. instead I trail it at profit, min 5 points .

but still if u can explain ur concept of imbalance with help of chart I will be great full bro !

 

[Dax Devil]

when I trade in big Qty say 10-20 lots in crude.. I look for quick profit.. 5 points or more but once I entered I never book at Quick profit points.. instead I trail it at profit, min 5 points .

but still if u can explain ur concept of imbalance with help of chart I will be great full bro !

If you enter with 10-20 lots, just take quick money in full and run. Trailing volatile crude works on higher time frames.

Posting a chart won't tell you anything, friend. Chart just has candles, not the information how the candles get made. Concentrate on live PA on screen, you will get the hint when to enter or get out.

Well, I am off to bed now. Goodnight.

 

[nitingosavi]

with so many trades in crude,
and some trades in NG / silver today I lost aprox Rs. 300/- after brokerage.
biggest loss.. silver 2 lots sell covered @ 190+ = (-11400+brkg+taxes)

highest profit - crude ( 11,300-brkg-taxes ) total 70 lots traded.

NG given me good harmless profit...

worthless day...I was obsessed with crude short.

carrying position NG long 2 lots.

 

[nitingosavi]

problem = I cannot define "myself" as scalper or a trader !!

Fact = need some improvement.

advantage = I am a sub broker ( I always keep an eye on turnover).
disadvantage = I am a sub broker (many times I calculate 60% sharing as M2M gain ) .

just expressing what I feel. don't react on it .

thank you.

 

[nitingosavi]

today sold gold @ 26480 s/l 26531

and already holding NG long avg 160.xx

 

[Dax Devil]

problem = I cannot define "myself" as scalper or a trader !!

Fact = need some improvement.

advantage = I am a sub broker ( I always keep an eye on turnover).
disadvantage = I am a sub broker (many times I calculate 60% sharing as M2M gain ) .

just expressing what I feel. don't react on it .

thank you.

If you express what you feel, you are honest. That means, you have room for improvement. Expessing what you think would screw you up real bad.

Try not to trade too much, the way you did yesterday. 70 lots kind of to and fro trades keep you on your toes all the time. You will damage the health of your nervous system really really bad, even if you make lakhs in profit. And there is no coming back once the nerves start fraying. Neurology is still at a very primitive stage in medical science, remember.

 

[nitingosavi]

If you express what you feel, you are honest. That means, you have room for improvement. Expessing what you think would screw you up real bad.

Try not to trade too much, the way you did yesterday. 70 lots kind of to and fro trades keep you on your toes all the time. You will damage the health of your nervous system really really bad, even if you make lakhs in profit. And there is no coming back once the nerves start fraying. Neurology is still at a very primitive stage in medical science, remember.

yes.. that's why only 2 positional 2 or 3 trades in a days that's what I have decided for MCX.

in NSE FnO 3 positionals + 3 intraday that's the limit...

so now limiting no of trades per day when the no reached going to stop trading for the day no matter loss or profit.

and with fix s/l no moving changing it

Jai Shri Ganesh !

 

[nitingosavi]

exited gold @ 26500
booked 50% NG @ 163

NG 50% rebuying order @ 160 s/l @ 158.9/8

I wish rebuy na ho