SHIFTING TARGET COMPLEX
When market gives you big losses, it create such trap with many small profits.
suppose you bought silver @40000 to sell @40,200(for 200points only)
but it went straight to 40350,
you were surprised, thought to sell
but someone told to hold
or someone bought here for target 40800.
it went to 40500,
You were here for 200 pt
and now getting 500pt.
but not thinking to sell at all.
Now silver takes a breather of 0.5% means 200pt
& comes 40300.
you are still in profit,
but you will not sell right now,you will place selling order@40400.
now silver slips to 40,050,
No profit left now,But loss is also not there.
One can exit easily with no loss,
but profit goes not alone, it goes with your capital.
When we trade less, our mind may follow our plan & principles,
when we start over trading, all plans fail,
We don’t remember anything.
So if day ends with -1500,
then accept it with cool mind,
take a break,
See mistakes, minimize volumes means buy 5 goldguinea(8*5=40gm) instead of 1 goldm(100gm)
You can recover with 3 trades of+500.
CONCLUSION-
DO NOT shift your target in good or bad market.
If you want to wait for a big profit ,then do it with strict trailing STOPLOSS.
Intraday trading video course part 2
intraday trading video course part 2
Posted by Pankaj Jain at 10:48 No comments:
This video lesson contains very important points of intraday trading in both english & hindi .
listen and practice this daily. Then go ahead, otherwise this lectures will be useless.
You should improve your speed on keyboard. Some fellows are still trading with dabba trading (illegal trading ) or legal subbroker on phone.
If one had lost 2lacs and he could’t arrange computer & internet in his own hands, then is he right?
If he would have given 5000/- monthly salary to any operator than it would have costed 60,000/- only in a year.Calculate seriously ,due to trading over phone we are missing opportunity of atleast 2000/- daily or hitting SL .Time lag is there ,dependency is also there.
If you are not on the screen, then you can trade in mini lot over the phone.
Otherwise you learn all ODIN/NOW trading operations. We are giving full training.
Even then if you are still losing but at least getting some skill in return.