The problem is not with the set ups.....the problem is how you approach these set ups....
If you see the nifty movements currently, the stoploss a trade needs is 20-22 points but after the breakouts does it give 42-45 points move to give you 2:1 RR ?? On most days it does not give more than 10-15 points move after a breakout and the correction sets in and your 2:1 RR goes for a toss....it gives a large move only on strong trending days and those are very few.....
So what is the solution ? Either trade only on strong trending days ( you have to figure out these ) or trade failures or trade correction after the breakout...it gives lower stops and better RR....Other solution is trade Nifty options based on breakouts in nifty Futures chart ( this is being done very successfully in real time on Twitter) or think of trading BNF which has a larger stops but it gives 100-200 points move quickly.....the moment we see PL and PH entering into each other, be sure that it is not a strong trending day....you can make 2:1 RR in Nifty Futures trading breakouts only on days when NF gives a move of 80 points and above.....
I dont claim that I have solutions for all trading problems but we have to find our own solutions and these are some clues towards the solutions...each will have to find a unique solution which suits his mindset.....
Smart_trade
If you see the nifty movements currently, the stoploss a trade needs is 20-22 points but after the breakouts does it give 42-45 points move to give you 2:1 RR ?? On most days it does not give more than 10-15 points move after a breakout and the correction sets in and your 2:1 RR goes for a toss....it gives a large move only on strong trending days and those are very few.....
So what is the solution ? Either trade only on strong trending days ( you have to figure out these ) or trade failures or trade correction after the breakout...it gives lower stops and better RR....Other solution is trade Nifty options based on breakouts in nifty Futures chart ( this is being done very successfully in real time on Twitter) or think of trading BNF which has a larger stops but it gives 100-200 points move quickly.....the moment we see PL and PH entering into each other, be sure that it is not a strong trending day....you can make 2:1 RR in Nifty Futures trading breakouts only on days when NF gives a move of 80 points and above.....
I dont claim that I have solutions for all trading problems but we have to find our own solutions and these are some clues towards the solutions...each will have to find a unique solution which suits his mindset.....
Smart_trade