GET OUT OF YOUR LOSERS
You are not a loser because you have a losing trade on. You are, however, a loser if you do not get out of the losing trade once you recognize that the trade is no good. Its amazing to me how accurate your gut is as a market indicator. If, in your gut, you have the idea that the trade is no good then its probably no good. Time to exit. Every trader has losing trades throughout the session. A typical trade day for me consists of 33 percent losing trades, 33 percent scratches and 33 percent winners. I exit my losers very quickly. They dont cost me much. So, although I have either lost or scratched over two-thirds of my trades for the day, I still go home a winner
(Updated on 30-05-2012 Time 8.50 AM)
As we mentioned yesterday NF formed high at 5011 and fall.
We also indicated that failure to sustain above 5001-5009
might move it down. It tried two times in last session to
take this high but couldn’t.
Now for Today…….
Likely to open with negative note.
Trading below 4966 will drift down it to 4950-4938-4920
Sustained trading below 4920 may see panic upto 4884
Trading above 4995 for 15 minutes with sizable volumes
no worry for bulls and see 5009-5028-5036 area which seems
quite strong barrier to sustain in intraday.