Our ability to go long or go short that first bar hinges on the odds that more often than not,the trend goes unidirectionally in our favour.If that were not to be true,our finger is going to have a tough time pressing that trigger button,especially when time and time again,reversals happen and frustrates the 5min breakout trader.But looking at the Nifty charts the last many years,we know that to be a reality,for now.
The problems so far is in dealing with those sideways and reversal days........one does not have that mystic ability to be able to guess which those days are.And since that gift is not given to us,we have to take them all.And somehow find ways,other than bringing the "me" into the picture,to be able to trade the days that matter,go gung ho with our adds and not trade as aggressively on the days that do not matter,and in fact would be detrimental to psyche and account.We could bring indicators into the picture ....... but if you were to bring all your favourite indicators on one chart together,more often than not,you would never be able to press that trigger,as conflicting signals create confusion,and by the time a momentum move is detected,it is too late to capitalise on.
Not of course saying that an indicator here and there might not be useful.......but have noticed that pivots get us in earlier and get us out earlier if one knows how to detect those points.By now,everyone here is a master at detecting those areas.
And since we are all able to see pivots like nobody's business,........why then should we not play to our strengths?So,this thread takes another turn......Once we are done,I will edit the first post and that set of posts on Page 36 so that no confusions prevail.
Despite the best of filters and the best of possible entries,markets have their own way of still giving you a knockout blow.Our job is to minimise the effect of that punch.
So,adding and subtracting a few things in the next post......Rather behaving as if we are having this dialogue for the first time.
Saint
The problems so far is in dealing with those sideways and reversal days........one does not have that mystic ability to be able to guess which those days are.And since that gift is not given to us,we have to take them all.And somehow find ways,other than bringing the "me" into the picture,to be able to trade the days that matter,go gung ho with our adds and not trade as aggressively on the days that do not matter,and in fact would be detrimental to psyche and account.We could bring indicators into the picture ....... but if you were to bring all your favourite indicators on one chart together,more often than not,you would never be able to press that trigger,as conflicting signals create confusion,and by the time a momentum move is detected,it is too late to capitalise on.
Not of course saying that an indicator here and there might not be useful.......but have noticed that pivots get us in earlier and get us out earlier if one knows how to detect those points.By now,everyone here is a master at detecting those areas.
And since we are all able to see pivots like nobody's business,........why then should we not play to our strengths?So,this thread takes another turn......Once we are done,I will edit the first post and that set of posts on Page 36 so that no confusions prevail.
Despite the best of filters and the best of possible entries,markets have their own way of still giving you a knockout blow.Our job is to minimise the effect of that punch.
So,adding and subtracting a few things in the next post......Rather behaving as if we are having this dialogue for the first time.
Saint
