I too face losses in big way. But I am confident that at last I will be in profit. I try to be disciplined as per my style and mentality.
I did not trade in first hour. I trade after 10:15 AM only. But I try to capture full profit movement once I am on board. I use strict stoploss to cut my losses.
Yeah who doesnāt. But you seem to be cutting those losses short with substantial profits in all your positions. And that alone is a recipe for consistency.
Also capturing the full movement ( till the opposing level i believe ) is a wonderful thing, most trader would be tempted to exit once in a profit before the target is reached.
Yes. I too learned these in very hard way like many professional traders.
As per me to get succeed in trading we have to spent a lot of time with markets and have to find our style of approching the markets.
I observed good number of agressive people choose swing trading ( which require lot of pateince) and people who have pateince choose day trading. In both cases traders fail because their attitude not matched with trading style.
We have to find our trading style to approach markets to stay profitable.
Thats right. Trading style needs to suit ones personality. A Trader needs to find his niche that will enable him to use his full potential and satisfy his needs.
Be it scalping or swinging, one thing is for sure is that a trader needs to be 100% comfortable executing his strategy. Although both style can be profitable if a trader knows what heās doing , what to expect and most importantly sticking to his āTrading Planā strictly.
On a side note. Surprisingly those stocks you traded are also in my regular trading watchlist too ( All of those are either in Watchlist 1 or 2 which are the regular trading basket ). Basically choosing the good volume ones in NSE that also trades in F/O with reasonable looking charts that can be read easily. Quite interesting.
I am surprised to hear u r using strict stop loss.
By seeing ur trade screenshots over last week I was under assumption u do scalping, by just keeping a small target with no stop loss and exit when that target hits.
If position is in green then only u put stop loss i think?
Or u r putting stop loss when u enter position itself