1)Shorted BOF RH. Expected the price not to reach the
other extreme. Hence exited at FTA. Got 10 points.
There was a TRAP signal. Hesitated and missed it.
Disclay muchimer: I am not a Research
Analyst, registered with SEBI/MCX or any Exchange. I maintain this blog only
for my own learning purpose and recording my thoughts on intraday activity of
Market. I do not give any kind of trading advice to anyone. My methods will
result in severe losses. Hence please do not follow me.
Good job SK. Today's market is not so easy to trade.
ReplyDeleteHi Jagadeesh,
DeleteThanks to you, I started looking for strength and weakness before taking any trade. That really helps in avoiding many low probability trades.
Developing, scrutinising and following our own trading journal has a vital role to play in this journey, I think. I am paying more attention to this also, since I started following you. Thanks for sharing your hard earned knowledge.
Glad to know that I am of some service. :)
DeleteMake this a part of your trade plan. Don't go to the next step if you got stuck at a step.
1) Future Bias,
2) Setup area/ price level,
3) Weakness into the setup area.
When these three are in place, you can enter in the wholesale region without any hesitation, that decreases initial risk substantially.
If you don't have a future bias, dont look for a setup. If you don't know where to initiate a trade, do go for the third step.
Cheers!!
Hi Jagadeesh,
DeleteEntry in wholesale area is something, I am working on. Hope to make some progress in this regard in due course of time. Thanks.