Learn How To Fish

[StarLight]

hi vijay bro , took one long trade , had a small profit with part booking , trade 2 , i go fr sell afternoon and made some profit ,it is not marked
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I think I am getting confused because of mismatch of data between these two charts. I dont know why vivek's chart candles are different from vijay charts.

In Vijay chart the third candle of day breached previous day VPL so vph is formed and then long is there above mph.

But if i now look into Vivek chart candle did not breached previous day vpl and there is no vph so as per vivek chart long is not there for me.

Also if you look closely third candle also is different in Vivek chart when compared to Vijay chart.

Also as Vijay chart does not have script name I was not able to make out if it was same chart as vivek.

That's why I was waiting for Vivek to reply and clear my confusion because my question was just for vivek post and not for Vijay's post.

 

[VJAY]

Dear Starlight,
Am not getting which post this is ....anyway sure vivek will reply....also remember some times chart is culprit in trades ...I too experienced it after taking trade and do backfill data some time found trade was not there ...also diferent data providers some times chart also diferent....That why I always say trade what your chart telling not as per others charts

 

[vivek.civil17]

I think I am getting confused because of mismatch of data between these two charts. I dont know why vivek's chart candles are different from vijay charts.

In Vijay chart the third candle of day breached previous day VPL so vph is formed and then long is there above mph.

But if i now look into Vivek chart candle did not breached previous day vpl and there is no vph so as per vivek chart long is not there for me.

Also if you look closely third candle also is different in Vivek chart when compared to Vijay chart.

Also as Vijay chart does not have script name I was not able to make out if it was same chart as vivek.

That's why I was waiting for Vivek to reply and clear my confusion because my question was just for vivek post and not for Vijay's post.

hi starlight , dono why i took long there ,forgot , .and you see vjay bro corrected me by his chart so my trade is wrong then .

 

[vivek.civil17]

today one short trade

 

[VJAY]

Today morning (last day closing) we had confirmed down trend....So we need to look for shorting opportunity ...yes its just opened in range ...but few seconds only....then its break down VPL ...just try to catch that move with strong confirmed trend......it may be fail ...but in DT price rarely give opportunity with mp's ...Though one need alert always on market open with clear picture in mind...If you observe these opening things you can notice it...specially in DT days....If you use this information then only one trade can make your day....

 

[MSN1979]

today one short trade
View attachment 29281

That was a very nice move today, little harsh as the price retracted after that big red candle though.

 

[MSN1979]

Today morning (last day closing) we had confirmed down trend....So we need to look for shorting opportunity ...yes its just opened in range ...but few seconds only....then its break down VPL ...just try to catch that move with strong confirmed trend......it may be fail ...but in DT price rarely give opportunity with mp's ...Though one need alert always on market open with clear picture in mind...If you observe these opening things you can notice it...specially in DT days....If you use this information then only one trade can make your day....

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We should be ready next time to pick this trade, gained a little confidence today after you showed.

 

[StarLight]

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Hi Vijay,
why you marked the first long when trend is sideways.?
below is the post link for above chart

http://www.traderji.com/community/threads/learn-how-to-fish.104340/page-112#post-1306745

 

[VJAY]

Hi Vijay,
why you marked the first long when trend is sideways.?
below is the post link for above chart

http://www.traderji.com/community/threads/learn-how-to-fish.104340/page-112#post-1306745

Please check when that trade triggered what is the trend ?

 

[VJAY]

Good post by Taiki bro...

A close introspection of thought process during a trade life time (Type 1)

Stage 1 = Trade opportunity is spotted, position is made.
Stage 2 = Price did not move as expected. Threat of a loos is felt.
Stage 3 = (Fear of loosing) Mind asked should I scratch ?
Stage 4 = (Tackling the fear) Mind wanted to be sure so observed price action bar by bar and found out trade premises is still valid and I should stay. That is where acceptance of loss came and mind got relaxed with thought of SL hit.
Stage 5 = Price moved in favor. Rewarding thoughts started coming in to mind.
Stage 6 = Price moved more, Again fear came in the form of not willing to give back what is still unrealized.
Started looking for possible exit target without looking at what candles are doing NOW !!! Exit target is set.
Stage 7 = Price again started moving against and unrealized profit is now decreasing, Pain is more now for mind as it thinks of exiting and grabbing what is left.
Stage 8 = Price moved more against the trade, SL is moved, SL hit, and EXIT happened. Managed to get some profit.

At stage 5 and 6 when mind was busy in patting itself for catching a good setup and thinking where should I possibly exit, it did not realized to manage the trade and what price is doing NOW. It completely missed that the bias has slowly reversed but mind wanted to believe that it will move more in favor. At stage 7, changed bias has already taken its effect and now price reversed. Exit was made at stage 8, not by noticing the changed bias but because unrealized profit has lessened.

Stage 1 and 4 are the only two stages where it did what a trader is supposed to do. Rest all the steps are emotional.