There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, November 13, 2013
13112013
Nifty gaped down below PDL. Almost all the day it was in a broad channel. Without knowing it, attempted two shorts and lost money. Last BO trade of IRL was also a scratch. 2 in 1 pattern. A channel and Barbed wire
Hi ST, I saw that channel bit late, when long at PDL and channel bottom. Stopped out :). Based on your advice will be sharing my trades/system. http://xrtrader1.blogspot.in/
I took 4 trades today, made losses in all, stopped out in two and scratched two.
First two were same as yours, other two were long trades considering BOF of PDL/PDC, got stopped out in 1st and scratched the 2nd. I am attaching the chart in the following link
http://tinypic.com/r/wp7iv/5
Kindly suggest how could I had managed these trades better. Due to these 4 losses I didn't had confidence to enter any other trade, though BPB of PDL/PDC was an opportunity (please correct me here, if that was an opportunity)
Barbed wires and Channels are very difficult to trade patterns under this system. Luckily the are not very frequent. The problem is we will not be able to identify it earlier. Once you get stopped out at a DP look for these possibilities. If you are getting stopped out for the second time,do not take any other trade at the same DP. You could have avoided the last two trades
Hi ST,
ReplyDeleteI saw that channel bit late, when long at PDL and channel bottom. Stopped out :).
Based on your advice will be sharing my trades/system.
http://xrtrader1.blogspot.in/
Dear ST
ReplyDeleteI took 4 trades today, made losses in all, stopped out in two and scratched two.
First two were same as yours, other two were long trades considering BOF of PDL/PDC, got stopped out in 1st and scratched the 2nd. I am attaching the chart in the following link
http://tinypic.com/r/wp7iv/5
Kindly suggest how could I had managed these trades better. Due to these 4 losses I didn't had confidence to enter any other trade, though BPB of PDL/PDC was an opportunity (please correct me here, if that was an opportunity)
Xrtrader1
ReplyDeleteAll the best
ST
Anon
ReplyDeleteBarbed wires and Channels are very difficult to trade patterns under this system. Luckily the are not very frequent.
The problem is we will not be able to identify it earlier. Once you get stopped out at a DP look for these possibilities. If you are getting stopped out for the second time,do not take any other trade at the same DP. You could have avoided the last two trades
ST