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  #11 (permalink)  
Old 01-06-2015, 12:39 PM
MatSol MatSol is offline
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Originally Posted by manoj agrawal View Post
You r right. But I took trade on daily tf so 150 point stop looks appropriate in that.
I am waiting for explanation from devdas Ji , how and what I am doing wrong ?


A 150 point SL is not too large or small. It all depends on your strategy and market conditions.
IIRC, Nifty was trading at a 10 pt discount that day - so if there was a recoil, it was going to be pretty forceful - which is what happened on Friday. So, approx 25-30 points in the 100+ point up move was because of switching from discount to premium (around 10 pts now).

A few questions worth thinking ...
1) If your SL is 150 points, what is your TP ? I assume it will be at least 150 points ? Otherwise in the long run it is not going to work out.

2) The amount of risk per trade (% of your capital) is very important. If you are trading with say 2 lots for Rs 1 lac capital, a 150 pt SL is around 8% of your capital. Two such bad trades and you are out of 20% of your capital - and you need to earn 25% on next trades to just break even.
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Old 01-06-2015, 12:53 PM
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Originally Posted by manoj agrawal View Post


pl explain what is wrong ?

Think he means you ought to look into a lower tf for the leading.
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Old 01-06-2015, 01:33 PM
manoj agrawal manoj agrawal is offline
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@matsol

Thank you for input.

At present I am using a fix cum market structure stop loss.
Will look it in % term later.
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Old 01-06-2015, 01:39 PM
manoj agrawal manoj agrawal is offline
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Originally Posted by kkseal View Post
Think he means you ought to look into a lower tf for the leading.



Yes , you directed right. He meant perhaps I am not taking the direction cue from the time frame on which the trade is taken. So the all fuss.
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Old 01-06-2015, 03:10 PM
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Things change in lower tf first Problem is deciphering which change is likely to last & manifest in higher (trading tf). In any case higher tf can't be leading, just reference.
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Old 02-06-2015, 02:24 PM
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My trade working

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Old 02-06-2015, 02:28 PM
manoj agrawal manoj agrawal is offline
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At MFE = MAE => 8200

I will lower stop to structural stop nearest to my entry.
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Old 02-06-2015, 11:18 PM
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Originally Posted by manoj agrawal View Post
My trade working



I do not want to discourage you, but trading is such a tough business which demands least optimism. You must walk with truth about your position/trades.

See, other fellow members helped you to identify that there is mistake in leading direction decision. The place on daily chart where the short trade is initiated, was under influence of bullish symptoms like HL-HH and pullbacks. You had to wait for bearish lead on daily chart for short trade on daily tf which would have been in accordance with bearish (if it was judged) weekly mode.

Luckily your trade survived, otherwise 15-20 point margin from 8500 is random thing which would have been blown in just event of "Test of prior High". Now look your entry level from today's intraday level scope, it had now been supported with bearish lead like double top on daily bars. Today's place is mirror of your entry level but has advantage of straight go.

Your trade has swinged almost from -1R to +1R, hence i think you still need to wait for "confirmation to lower stop loss" that its out of possible range/chop development. Still if you want to lower stop then at present 8430 zone is appropriate which also coincide with today's big bear bar high.

I could have thought of Adding to this position, maintaining risk same with favorable unfolding, but keep it simple yourself.
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Old 03-06-2015, 10:35 AM
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Temporary booking profit @ 8175.

Have read that dont let go windfall profit.

Will consider re-entry at higher level.
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Old 06-06-2015, 01:50 AM
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Originally Posted by manoj agrawal View Post
................................
Have read that dont let go windfall profit.

Q1. Other then above, what did you saw which prompt you to exit ? Why not
having a second thought at that place ? Apparently, IMO you made the same mistake by exiting at that place as you made in entry. Fear of loosing the profit and opportunity. Why not to think your exit from short as early entry for long for a impatient trader ? What would have now happened to that hypothetical long entry trader which mirrored your short exit ?

Big question to ask yourself - You waited 4 bars( day ) in MAE and exited in 1 bar of MFE. Don't you feel it is the same as "Cut your Winner, let your Losses grow" just oppose to "Cut your Losses, let your Winner grow" ?
Yes it is same.

So much of questions

Originally Posted by manoj agrawal View Post
.........................................
Will consider re-entry at higher level.

Q2. Did you got your re-entry price level or will it come in next 2-3 session ?

Originally Posted by devdas View Post
I could have thought of Adding to this position, maintaining risk same with favorable unfolding, but keep it simple yourself.

Remain in Trade,
Remain in Trade and
Remain in Trade.

If (- this is really big "If" and we often fail in this - )you have been in trade then what happened below your exit price 8175 would have been now serving you as plan for next action - either Exit or Add. What i am insisting you to think that it need to wait and let market show us if further opportunity to grow trade exist or not. Don't care about 70-100 point rise or cut from your MFE. Decision to Exit and Add is similar to initiating a new trade. It will need same degree of thought process which any other entry need.

You could have look your trade in separate sequences.

Trade 1 Action 1 Process 1: From 8345 to current MFE point 8175.
trade is giving approx open profit of 175 point.
If Trade 2 : Add at near MFE point of Trade 1.

Trade 2 Action 2 Process 2: After the market has unfolded below 8175 and pulled back again up to this Trade 1 MFE point. Now the process is to Add second short at 8175 with its separate stop loss = 175 point ( open profit from Trade 1 ) = 8175 + 175 = 8350 => which is again Trade 1 original entry. In case of complete reverse both trade will be exited at 8345.
So the Risk is always maintained same.
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