Enjoy the weekend.
It's a business.
If u think it's an easy business, u r wrong
It's the toughest.
If u think it's easy to earn 1 lakh per month, u r wrong
It's easy to lose.
If u think u can have 100% success rate, u r wrong
No one earns 100% rate.
If u think u r the best trader, u r wrong
No one is the best.
If u think some company tip off can make u money, u r wrong
Tip makers just help insiders to dump or accumulate stocks.
So its better work hard to earn success.
Anyways, we are TA guys and we dun believe in frauds. We believe in consistency. We dun have to prove something to someone but to ourself as we are our competitors.
For intraday trading, If one can make Rs. 500 daily, to begin with, for a couple of months I would say that he or she is consistent. Only then one can think of gradually increasing position size for better gains. But if one is losing consistently, he should revise his strategy for adjustments.
In the current market scenario, swing trading has become very easy. Just buy on support or pullback and u r good to go. It's just that sometimes profit booking eats ur profits, Reliance industries for example.
Swing trade or day trade, hard work always pays. Some times it pays u more than the other times.
Whatever u do, be consistent in ur wins and risk management.
All the best.
An experienced trader would never do that. Bcoz he knows that market is here to punish such an act.
There is no pattern which works all the time, even if it looks a perfect pattern to most traders.
Not all patterns are perfect. Sometimes an imperfect pattern works better than a perfect one.
What protects a trader are the less talked about Money management and Risk Management, be it any pattern or any strategy.
Grow up fellows. Be nice to the others.
It also followed plan 2, which was to buy in the support zone below 298. It bounced hard right into the first target of 309-310 zone.
If the stock sustains abv 310 for some time, it may rush for second target of 317-318.