Have a Plan. Many traders do not realize that trading is more complex than it seems. It should not be driven by merely a hunch. A good trader is always ready with a realistic plan. This plan should include sophisticated research and examination of the currencies as well as stop and limit levels of the trade. This prepared plan should have an analysis of the expected upside along with the downside.
Cut your losses at an early stage and be loyal to your profit earners.Some traders want to believe that their losses might still do well after a good waiting time. But the market moves against these non-profitable positions and makes them lose hundred of points, not recovering enough to sustain even if they do rise again. Do not be caught in the belief that every trade should be profitable.
Play Smart. Dont let your emotions rule in trading. Always be objective with your decisions. While in the market, do not hope that it will move in a favorable direction just for you. Be sensitive enough to see the factors that may have influences the changes that transpired against the original analysis you had made. If the considerable signs are there, reconsider your losing position.
-Above is Daily Chart of NIFTY FUTURE-
On Friday after kissing High of 5967 it crashed vertically !!
-On Friday our First call was 5972 is Major Hurdle.It kissed 5967 & Crashed
(Intraday below 5927 our Targets were :5887-5877 level ,It made low of 5880 & closed at 5897 level )
Recommended to Buy 5900 Put @ 54…..Target 85 ,Yes still Holding………will see What happens Today ?
-Below 5877 level ………………………..if trades with volumes then ??
Slide upto 5847——–5837 level & there after will Retest 5805—5795 level in panic !
-Trendline Support at 5835-5840 level (Watch this level )
-5812 is Major Support for Nifty Future-
Break below this level or closes below this level will take to 5753-5733 in PANIC !!
-More Details ,Reversal points ,Hurdle and Intraday levels to our Subscribers.
Updated at 7:03/18th March/Baroda/India