Twice nifty reached the 5400 lvl where I wanted to go short ...Reason
1) -ve divergence seen in day chart yesterday
2) Nifty gapped up and opened at Channel Top .
3) Golden ratio 61.8 % done at 5404 from the fall 5944-4531.
Good enough reasons to go short ..with SL=5414 day high ..Just 15 Points risk and good gains .
so
4) risk to reward ratio was also favorable .
5) Hour SAR triggered "sell" at 5364 .
4 Good reasons to go short ...
Prices did close below the HLema but with filter of 15 points they did not qualify for a "sell" , this was the only thing that did not qualify ...
I clicked the sell button twice and canclled the order , WHY??
I was afraid of losing that 15 points ...Having been lost some money already in the markets...
How to overcome this aspect in trading , will time teach me this ?
1) -ve divergence seen in day chart yesterday
2) Nifty gapped up and opened at Channel Top .
3) Golden ratio 61.8 % done at 5404 from the fall 5944-4531.
Good enough reasons to go short ..with SL=5414 day high ..Just 15 Points risk and good gains .
so
4) risk to reward ratio was also favorable .
5) Hour SAR triggered "sell" at 5364 .
4 Good reasons to go short ...
Prices did close below the HLema but with filter of 15 points they did not qualify for a "sell" , this was the only thing that did not qualify ...
I clicked the sell button twice and canclled the order , WHY??
I was afraid of losing that 15 points ...Having been lost some money already in the markets...
How to overcome this aspect in trading , will time teach me this ?
2 comments:
There s a Trading indecisiveness common to all of us...
Its a psychological I think/
By the way I too am from Bangalore and starting to learn TA.
Best of luck for your studies raju4u.
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