Flexible targets for stock market & mcx commodity online trading
Traders are losing money most of the time due to rigid target set by themselves or given by some tipper/advisory.
For wise trading, one should have flexible targets. keep tight control over stop losses because lose stop loss system may be dangerous for capital protection.
But targets are not that compulsory.
Beginners should book small targets frequently.That will boost their confidence. If we see profit in beginning of trade & finally Stop loss hits then it is very frustrating for beginners.
It may cause severe reactions.
Generally a trader should expect a little profit for 75% of total time,because that will be range bound time.
but remaining 25% time one should try with trailing stoplosses for extra ordinary big profits.These special profits will fulfill the target at optimum level.
after any big down fall or gain (say 600pt in nifty)
one trader can expect minimum 200-300pt in short covering.
or
any stock or commodity fell by 15-25%,then expect 10% in single shot another side.
At all other time, you are planning for 6pt and you are getting 5pt right now,then book it.now.
and follow trading time slot in stock & mcx market.
Book before 11.30am & reenter after1.30pm. book at 3.10pm in stock market.
Do not wait in commodities mcx more than 20-30 minutes.
You may re enter in next time slot,but don’t wait till stoploss hit.