Emotional trading is a recipe for disaster – Looking at my gains and losses for the year, I have noticed that many of my losses came from trades that were taken during the middle of the day or from trades in which I changed my original plan after the trade was taken. I am really focusing on making trades only at the end of the day and also not watching the intraday action too heavily, especially in a volatile environment like February. I also need to do a better of job of setting stops and sticking to them, rather than adjusting them after the trade has been made, which usually just led to bigger losses.
Avoid trading right before or right after decisions by the Fed – for some reason, I thought it would be smart to make a lot of trades around January 30-31. I closed a total of nine trades those days, and only two were winners. Several were stocks I was stopped out of the same day. These days of course correspond with the first Fed decision about interest rates, which led to an extremely volatile trade that I would have been much better off staying completely away from. I plan on doing this from now – I will not be making any new trades during the few days after Fed decisions, at least not in the current environment
-Yesterday ,As Expected it was DEAD Market !
-NF closed at 5150
Now SGX Nifty Trading at 5173 (+34 points )
No need to Change Levels everyday !!
-Above 5154,We see Rally upto 5174—5181 levels & there after will try to kiss 5203-5210 level.
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