iCharts Discussions

Raynor · White Belt Joined: 21 Mar 2013 Posts: 108

It is a journal . so writing my positions. It is not a call. i dont have time to write during the day.

parva · White Belt Joined: 07 Dec 2009 Posts: 89

Dear Raynor .

Please post strategy on weekend...so what if you are in learning phase

It will help all of us.

Thanks

Raynor · White Belt Joined: 21 Mar 2013 Posts: 108

close position at 5760

Raynor · White Belt Joined: 21 Mar 2013 Posts: 108

Good Point From SekarInvest. Let us make use of this point.

EXITs is something that depends from trader to trader hence there is no single correct solution for it. But above points will help you in preparing in advance for eventuality. Once we are in trade, emotions start impacting our decision making capability hence it is better to think about them right now when there is nothing is at stake.

Profit taking – Price wise : When atleast 80% of potential max profit is achieved. Better to move on to next opportunity rather then waiting for last bit of profit.

Profit taking – Direction wise :When my view about market's direction has changed from bearish to bullish or sideway.

Raynor · White Belt Joined: 21 Mar 2013 Posts: 108

Let us use this too.

Many times I am up M2M with 50k-60k, while my TSL locks only 20k, I am ready to give back my 30-40k to the markets and wait for my stop loss to be hit. And many times, this 50-60k M2m reaches to 80k-100k M2M and my TSL moves up and locks up 50k, and then further M2M reaches 140k , My TSL locks up 100k. How many of us can do it comfortably. If we can do this and ready to give some paper profit back to market -> We can win this market over long run. That's why I said its not the system, its the winning over the emotions of greed and fear.