First it's Emerging market basket hit 52 Week lows, Followed by DM hitting 52 Week lows, Then oil basket hit 52 Week lows, Followed by bitcoin. Are we on for any liquidity crisis globally? Time will tell!
Be stock specific for time being. Play light. Volatility will be back in a bigger way going fwd! Advice is for both short and long camp.
Focus on global events than local events during bear markets. Global events will have lot of unexpected overnight reactions during bear Mkt than local events!
Adding to that never trust a index upside lead by Reliance or any other index heavy weights and look for broad market strength to Guage a perfect upmove. This year index rally from July was solely done by Reliance and nothing else. Rest is history!
Technically never chase price. Price won't just go in straight manner. Always it retrace on respected time frame. Chasing never gonna help until you are a momentum trader trading with less size. If it's a good move you will get your fill!
Try to classify a good move and a bad move from price perspective. Half job is done. Then rest is entry and risk management. By classifying the same you can avoid lot of bad moves.
Keep a list of some few stocks and track the same. Never deviate outta it. If you spot any of your trade setups on those basket then execute the plan. Look for best setups to play. First try to classify your trade setups. Explain or write the same in through detailed manner.
No trader can perform better all the time in markets. When your mind accepts this you will shine in trading arena. Try not to trade everyday and every price zone as much you can. Think for reasons how you can avoid a particular trade as much you Can. So you play best trades.
To end this.. Try to be a lone trader as much you can. Never try to broadcast what you do till you reach some stage in your trading career. Spend more time with you and your charts. Understanding both is vital for trading success and longevity in this field.
Happy trading!
Happy trading!
