Need assistance for rectifying my trading method

#1
Hi Everyone,

I am new to tradeji but not to trading. I am facing issue with my trading strategy where i need expert advice on it.I have certain levels which i normally used to trade Banknifty or any commodity.The method works most of the times but sometime instances ,it crosses levels and move to & from the price range.


Banknifty.JPG


As per my strategy if price moves above Level 1 and Leve S ,its buy and if it moves below both the it will be Sell.As you can see in above table,Banknifty was in BUY territory on 14th January and moved in between Level1 and Level S on 15th and 16th. The price actually went above and below the levels on the intra day which makes very difficult to take a trade.if any trade is taken will be in Loss as Stop loss is nothing but the same levels.

Even if i am taking a trade on 17th where it shows a better entry with perfect sell ,again on 20 th there was a big gap up with price moving from SELL to BUY in intra day .Atleast 3 out of 10 trades ,i am facing the same issue with option trading which is increasing my losses most of the time due to multiple entries on these days. I need expert advice on the same whether i can control loss by better money management on trades( which is not actually possible ) or better indicator or technical analysis to avoid these trades.I use to get these trades 3 or 4 times a month.Is there any way i can control these trades with any better indicator or technic. Please help me on it.
 

newtrader101

Well-Known Member
#2
Hi Everyone,

I am new to tradeji but not to trading. I am facing issue with my trading strategy where i need expert advice on it.I have certain levels which i normally used to trade Banknifty or any commodity.The method works most of the times but sometime instances ,it crosses levels and move to & from the price range.


View attachment 45150

As per my strategy if price moves above Level 1 and Leve S ,its buy and if it moves below both the it will be Sell.As you can see in above table,Banknifty was in BUY territory on 14th January and moved in between Level1 and Level S on 15th and 16th. The price actually went above and below the levels on the intra day which makes very difficult to take a trade.if any trade is taken will be in Loss as Stop loss is nothing but the same levels.

Even if i am taking a trade on 17th where it shows a better entry with perfect sell ,again on 20 th there was a big gap up with price moving from SELL to BUY in intra day .Atleast 3 out of 10 trades ,i am facing the same issue with option trading which is increasing my losses most of the time due to multiple entries on these days. I need expert advice on the same whether i can control loss by better money management on trades( which is not actually possible ) or better indicator or technical analysis to avoid these trades.I use to get these trades 3 or 4 times a month.Is there any way i can control these trades with any better indicator or technic. Please help me on it.
You need to explain more with screen shots. What are these levels?
 

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