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Nifty Future Buy 4839-4847 and SL 4828 Go for targets 4956-4976 Tomorrow
Buy Today DIVILAB Future
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YOUR BIGGEST LOSER CAN’T EXCEED YOUR BIGGEST WINNER.
Keep a trade log of all your trades throughout the session. If, for example, you know that, so far,
your biggest winner on the day is five e-Mini S&P points, then do not allow a losing trade to exceed those five points. If you do allow a loss to exceed your biggest gain then, effectively, what you have when you net out the biggest winner and biggest loss is a net loss on the two trades. Not good.
(Updated on 18-05-2012 Time 08.50 AM)
Yesterday we wrote market would see 4886-4903 level.
It touched 4911 and plunged.
Now there seems no relief for the bulls since market today is likely to extend
its lower levels to 4793-4765-4710.
4900-4911 are hurdles.
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NEVER TURN A WINNER INTO A LOSER.
We have all violated this rule. However, it should be our goal to try harder not to violate it in the future. What we are really talking about here is the greed factor. The market has rewarded you by moving in the direction of your position, however, you are not satisfied with a small winner. Thus, you hold onto the trade in the hopes of a larger gain, only to watch the market turn and move against you. Of course, inevitably you now hesitate and the trade further deteriorates into a substantial loss. There’s no need to be greedy. It’s only one trade. You’ll make many more trades throughout the session and many more throughout the next trading sessions. Opportunity exists in the marketplace all of the time. Remember: No one trade should make or break your performance for the day. Don’t be greedy.
(Updated on 17-05-2012 Time 08.50 AM)
Yesterday we had written that 4845 is important level.
Market bounced off from the low of 4827.
Now Today…
Trading Above 4869 for 15 minutes will drive it to 4886-4903.
It will add more strength after clearing hurdle at 4925 on closing basis.
4845-4819-4765 are important lower levels.
Major Trend is Negative, but Immediate and short term trend may reverse
since markets are in highly oversold zone due to considerable and consecutive fall
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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.
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Just Watch in Today Trading Session 4940
(Suppose to crossover it…then you will see real power of BULLS)
Above it… You will See Nifty 5008-5056 very soon
Suppose to Trade below 4880 after 11… then free fall 4829-4789
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Being disciplined is of the utmost importance, but it’s not a sometimes thing, like claiming you quit a bad habit, such as smoking. If you claim to quit smoking, but you sneak a cigarette every once in a while, then you clearly have not quit smoking. If you trade with discipline nine out of ten trades, then you can’t claim to be a disciplined trader. It is the one undisciplined trade that will really hurt your overall performance for the day. Discipline must be practiced on every trade.
When I state that .the market will reward you. Typically, it is in recognizing less of a loss on a losing trade than if you were stubborn and held on too long to a bad trade. Thus, if I lose $200 on a trade, but I would have lost $1,000 if I had remained in that losing trade, I can claim that I saved myself $800 in additional losses by exiting the bad trade with haste.
Nifty Future
(Updated on 15-05-2012 Time 08.50 AM)
As assumed Market continued sharp fall and lowered to 4855 as against our level
4876-4845 and bounced marginally.
Now Today…
Bearish trend seems to be continued and no respite yet seems for the bulls
Trading below 4845 will throw the Market even lower to 4819.
4793 may not be ruled out in panic fall.
4903-4928 zone is the nearest hurdle.
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