I will trade as per chart plan. I will not trade in the no trading zone shown on the chart and will take 1 hour confirmation before initiating the trade. I will be very strict with SL and will take no more than 2 SL of 20-30 points after a trade is confirmed. Again, as I always say, I will not trade if Nifty does not behave as per my plan. Thank you!
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Some insights I would like to share from my personal experience:
1. Please stop watching foreign markets, it wont help but will corrupt your viewpoint and ultimately you will either lose an opportunity or make a loss.
2. Market will not keep taking SL again and again, it has to decide a trend after some time. But if it takes 2-3 SL, just stop and wait for another opportunity.
3. In case you have 2-3 SL hits, immediately stop looking at market, leave your computer, watch some movies or go some place with family or do any other leisure activities, but just get market out of your head, believe me it helps a lot.
4. If there is a SL, DO NOT THINK TWICE, JUST EXIT, IT IS JUST 20-30 POINTS, you will be getting 100 - 300 points in another trade if you simply take SL without thinking twice. But if you show ego to market or think that let me watch for some time, you will definitely regret it. Sometimes you may be right, but that is just pure luck and betting.
5. Trade with long term view point, even if you are initiating an intraday, have a weekly viewpoint, so that you will have conviction to either carry forward or just exit if you are not convinced.
These thoughts just came to my mind as I have gone through the same and know people also face the same in their initial phase. I will share more in a separate idea that I will share in my leisure time. Thank you for reading!
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Some insights I would like to share from my personal experience:
1. Please stop watching foreign markets, it wont help but will corrupt your viewpoint and ultimately you will either lose an opportunity or make a loss.
2. Market will not keep taking SL again and again, it has to decide a trend after some time. But if it takes 2-3 SL, just stop and wait for another opportunity.
3. In case you have 2-3 SL hits, immediately stop looking at market, leave your computer, watch some movies or go some place with family or do any other leisure activities, but just get market out of your head, believe me it helps a lot.
4. If there is a SL, DO NOT THINK TWICE, JUST EXIT, IT IS JUST 20-30 POINTS, you will be getting 100 - 300 points in another trade if you simply take SL without thinking twice. But if you show ego to market or think that let me watch for some time, you will definitely regret it. Sometimes you may be right, but that is just pure luck and betting.
5. Trade with long term view point, even if you are initiating an intraday, have a weekly viewpoint, so that you will have conviction to either carry forward or just exit if you are not convinced.
These thoughts just came to my mind as I have gone through the same and know people also face the same in their initial phase. I will share more in a separate idea that I will share in my leisure time. Thank you for reading!
Trade closed: target reached:
Target reached, trade closed!