Let me cover what I personally do when I encountered with SL hit.
-> When my stops are hit and I take a loss, I stand back and review the market action for two possibilities:
1. My analysis was wrong .In that case,I try to see if I can reverse my position in the same trade because a failed breakout in one direction leads to a strong move in the other.
2. I try to see if we are in a choppy phase of market if that is the case ,I just fold my hands and sit back because my experience suggests that only market trends give traders money; and choppy markets take all of it, and more, back.
Worst action in a choppy market would be to go on making trades in both directions in the hope of finding on profitable trades. Often I also reduce my volume to nominal if I do have to test waters. The market is like a girlfriend; if she says no, gentlemen must take that as a no.
Read the last line twice & Just mind it😂
Any way that’s it from my side.
Good night.
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Never thought it could be so easy.
Just get set all rules fixed on chartink website, it ll filter stocks in no time at any timeframe. Very easy to use.
Now onwards no need to go through thousands of charts on weekends just to find which all stocks fit in our criteria.
Do use it.
Whenever I teach, my moto is to make u master in that. U should get something new to learn even though when u already know that thing.
Divergence:- When price is not synchronised with the oscillator then the divergens occurs means
2/n Means price is making higher high but oscillator doesn’t
or
price making lower low but oscillator doesn’t
means there is divergence as price is not synchronised with the oscillator.
Basically there are two kinds of divergence
-> Regular or classic.
-> Hidden divergence
3/n
A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
Follow as much handles as you can.
Take free & paid webinar every weekend.
Do workshop of big names.
Spend hundreds of hrs watching YouTube.
Read books or do anything which you think can help you in markets.
Learning more & more indicators.
Result: Still loss
Why? Why? Why?
You are doing everything or ready to do everything but you are forgetting one things :- You hv to go through a process which requires intense efforts, sleepless nights with continuous staring same charts again & again, a lot of emotional baggage, no outcome till yet.
The point I wanna make clear is that there is no harm in taking training but conviction to pull triggers & remain in trade till exit signal comes would come from your practice only.
A market conversation at around morning 11.15 @Pradeep62799879 ..Message reads as I was highly confident about fall. That’s why yesterday itself squared off all bees.
Later on levels also revised, but TA motive full filled.
Charts never lie.
God be kind to them who keep looking for reasons for every move in market.
Everyone talks about market Psychology.
What actually mean it?
Does big boys consistent traders do really hv a different psychology?
If Yes, then How?
As you may have also experienced that initial luck favours almost to all as mostly make money in initially 1st or 2nd trade of life.
Why it is so.
It has got a deep meaning imbibed.
That is :-
->Carefree trading I mean trading without any fear.
->Once one get hit hard, he starts risk aversion, in turn piling more & more losses and finally stop altogether.
->Always think it a game of large numbers . Out of hundreds you gonna loose 20-30 for sure, so don’t curse yourself ( Self sabotaged) instead follow the process only.