Many of the entries were hasty, I guess, though I am not sure. To a large extent, I tried to base my entries on the Decision Point Trading method that is explained on the Nifty Nirvana blog (link to download the free e-book on that site), but I am not doing it right.... The author does not take as many entries as I do.
Other than the entries, the rest of my trading today was mechanical trailing. One of my issues with discretionary trading is that I never know whether I did it right or wrong, which is almost what these methods are, by definition.
Again, I did not trail SL early, because that was my mechanical rule for the day. If I had trailed early, I would have lost less in the losing trades, but then Trade 2 would also have been a loss....
Dear BT,
ReplyDeletePlease go through the link as it may help you.
http://charttechnicals.blogspot.in/2014/11/struggling-phase.html
Regards,
Dinil
Thanks Dinil,
ReplyDeleteThose are really helpful rules... if only I would follow them :(
I used to read the ChartTechnicals blog regularly, but Mr. Dave is no longer updating it. I know that he had started a restricted blog. Perhaps, he is focusing on that now. Miss his updates, as well as Smart Traders'.