My Understanding of TATA Steel Price Movements today via Chart
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My Tata Steel Trades Taken on Chart
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Correct Trades that should have been taken marked in below mentioned chart
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Trade Log for Real time Trade
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Contract Note:
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Commentary:
Number of Trades Taken: 1
Entry: Incorrect Trade Taken
Reason: Misunderstood Sideways Rule on thread.
Exit: As per Pivot
Emotions: None
Steps to prevent this to happen in future: Will not consider sideways Trade for start only will stick to original setup methods.
Strengths: Exit as per system, No play of emotions. Cleared doubts from Vijay Sir and have a clear of understanding of what went wrong
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Weakness: made changes to system last minute before trading causing method to be changed. Misunderstood the entry as per sideways it was for candles not for pivots. Did not take second trade in system
Risk Reward: Was proper, took a risk of 1.2% . Increased QTY as mentioned by Vijay Sir and reduced by 50% since trade was counter trend
Will post charts here for TATA steel 5 Min, its not important to trade but its important to Understand the Method Correctly
Thank you Vijay sir, vivek and others members who are trying to help me learn today and in group.