ALWAYS LOWER YOUR TRADE SIZE
WHEN YOU’RE TRADING POORLY.
All good traders follow this rule. Why continue to lose on five lots (contracts) per trade when you could save yourself a lot of money by lowering your trade size down to a one lot on your next trade? If I have two losing trades in a row, I always lower my trade size down to a one lot. If my next two trades are profitable, then I move my trade size back up to my original lot size.
Its like a batter in baseball who has struck out his last two times at bat. The next time up he will choke up on the bat, shorten his swing and try to make contact. Trading is the same: lower your trade size, try to make a tick or two or even scratch the trade and then raise your trade size after two consecutive winning trades.
(Updated on 16-05-2012 Time 08.50 AM)
Yesterday we bought Nifty Future and told to see 4940.
It went up to 4950.
Finally market post positive closing after many sessions.
But no respite seems for the bulls yet.
Now For Today…………….
4903-4877-4845 area is quiet important for intraday reversal.
4940-4965 zone is intraday hurdle.
Markets are in highly oversold zone.