shantanu10 said:
Thank you Traderji.
You said, you do not use any technical indicator, oscillators. Chart says it all.
But still I would like to know:
1. Do you use MACD, MACD histogram? If yes how do you apply for your anatomy?
2. Do you use ADX?
3. Do you look for divergence?
4. Do you look for any warning signals on charts once you are in the trade? If yes, how?
5. Do you look for overbought/oversold signals in your plan?
6. Also as per your anatomy, you plan the trade and trade the plan. Do you trade in any other ways?
With Regards,
Shantanu.
You said, you do not use any technical indicator, oscillators. Chart says it all.
But still I would like to know:
1. Do you use MACD, MACD histogram? If yes how do you apply for your anatomy?
2. Do you use ADX?
3. Do you look for divergence?
4. Do you look for any warning signals on charts once you are in the trade? If yes, how?
5. Do you look for overbought/oversold signals in your plan?
6. Also as per your anatomy, you plan the trade and trade the plan. Do you trade in any other ways?
With Regards,
Shantanu.
1) No
2) No
3) No
4) No warning signal just use a trailing stoploss which is the previous 3 day low.
5) No
No I do not trade in any other way. My current short trade on the NIFTY is still on with a trailing stoploss at the 3 day high (3045.35).
Since my trailing stoploss is at breakeven I will now initiate another short position on Monday. What this means that the risk on my previous short trade is nil and I will be adding another position in the direction of the profitable trend.