Brother, If you are good in Positional Trading.
Follow Positional Trading Don’t change your strategy Frequently.
Intraday is not ment for Everyone.
It requires High Discipline and Right entry time and Right exit time.
In Intraday Your rules has to be strict. If your target is Rs.5/- take and close the trade. No matter Now, how much stock is going up or down.
If You will re-enter Trust me 90% of Times you will end up in Loss.
If I follow first rule recently would make money in BHARTI infratel
If follow 2nd rule don’t lose in pcjewellers fut,Which was initially in profit.
Would make some money with fixed target and Sl as usual next week.
I generally give Sl but no target. Now I think target should be determined before entry.
See, If you are ready to accept Loss by putting stop loss Than why not having Target?
There has to be a Target in your Intraday Trades.
Because You will only get 1 opportunity in Intraday.
It’s not a Positional trade that you will make it right next day.
Before Entering in any Intraday Trades have a Stoploss and Target according to your Risk Reward and Position size.
So true… I lost Rs 5000+ today after I broke my own rule of not to trade for more than two times a day since yesterday and not exiting when the stock was clearly down. If I had stuck to my regime I would have made Rs 6000+ Will be back next week. Learning to beat the urge to trade more.
Our Emotions Comes between our Trade and Stop us to Exit from orders.
The day you will keep your emotions aside you will see a total personality change in your thinking and you will Start Generating consistent Profits.
In one and half months of trading, I always profit with first two trades (100% success ratio) using my strategy. The third, fourth and fifth etc made me lost big time. It’s still hard to give up the third trade and so forth… But enough is enough… Will stop after two trade no matter what from next week.
To be fair, all I can say about my strategy is: The early bird catches the worm As a beginner I will need a 100-day test of this unique but simple strategy and if all of my buys ends up in 99% profits I will sell my strategy - hopefully that will help me recover some of my capital money that I lost