I understand max.two trades in a month translates to 6 -8% price movement.One up and one fall.
My trade experiences till now suggests it is our mindset that disturbs our trade and determines our P/L.
Long ago, I stopped intraday trading and few weeks back I stopped weekly trading.
My first month trend trading ended in loss as I have fixed a particular target 100.65-100.80 and waited for price. It reversed from 101.60. My charts showed me buy 102.75 but wrote to my subscribers that volumes are low, Trend is down, breaks above 103.35.Still then I didnt exit waiting for resistance 103.54, 103.78 and finally exited at my 104.17.
Previouly when prices came down from 104.50,I was having longs looking for some more points.my charts showed sell at 104 with stoploss of 104.85 later I shorted at 103.70-103.65 failed again when my charts show buy at 102.75.
Without using Trendlines,Fib,Elliott,Gann,S/R,
a simple method of following my trend signals, would have given
28/05/14 -09/06/14 = 104 -102.75 = 1.25$ per Lot
09/06/2014 - till date = 102.75 - 104.45 = 1.70$ per lot
translates to 3 $, 3000 $, 6000 $ for two lots.
28/05/14 -09/06/14 = 6140 -6085 = 65 per Lot
09/06/2014 - till date = 6085 - 6204 = 120 per lot
translates to 185, 18500 INR, 37000 for two lots.
It seems the setup will work and I am going to stick with my setup
My trade experiences till now suggests it is our mindset that disturbs our trade and determines our P/L.
Long ago, I stopped intraday trading and few weeks back I stopped weekly trading.
My first month trend trading ended in loss as I have fixed a particular target 100.65-100.80 and waited for price. It reversed from 101.60. My charts showed me buy 102.75 but wrote to my subscribers that volumes are low, Trend is down, breaks above 103.35.Still then I didnt exit waiting for resistance 103.54, 103.78 and finally exited at my 104.17.
Previouly when prices came down from 104.50,I was having longs looking for some more points.my charts showed sell at 104 with stoploss of 104.85 later I shorted at 103.70-103.65 failed again when my charts show buy at 102.75.
Without using Trendlines,Fib,Elliott,Gann,S/R,
a simple method of following my trend signals, would have given
28/05/14 -09/06/14 = 104 -102.75 = 1.25$ per Lot
09/06/2014 - till date = 102.75 - 104.45 = 1.70$ per lot
translates to 3 $, 3000 $, 6000 $ for two lots.
28/05/14 -09/06/14 = 6140 -6085 = 65 per Lot
09/06/2014 - till date = 6085 - 6204 = 120 per lot
translates to 185, 18500 INR, 37000 for two lots.
It seems the setup will work and I am going to stick with my setup
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