Thursday, March 26, 2015

self talk

: Two magical ideas to increase profit and decrease loss....
0.take the trade (of course)
1. Auto stoploss
2. Not checking "score" price for Atleast next 2 hours

Murli: After putting SL, I go for sleep and watch the end result at 7am (US Time)

: This is amazing way, though.strongly endorse

: whenever in profit, and if in fear of losing it, never book it simply....put auto limit stoploss for sma 15 and leave it.....this way u will be safe as well as have a decent chance of letting the profit run.....friendly advise

: pardon me for taking the liberty to ask it.....i hope all know what is a limit stop loss auto bid in trading software....

: i am asking this because if u know just this one simple procedure it will be ensured that even if u lose in trading often u will never quit it simply because of occasional disastrous trading decision

Guru Mysore: Js ji in what time frame ??

: any time frame.....sma 15 broadly takes care of all.......for positional lineral trades, sma 50 may be used instead

: sma 15 will mean different values for 5min chart, 30min chart, 1day tick chart, 1 week tick chart....

Guru Mysore: Yes true...hence asked

: 200 day moving average, eg, is different from sma 200 for 5min tick chart....

Guru Mysore: I usually prefer 89ema in five min chart...

Guru Mysore: They help a lot

: use any sma.....same purpose is solved....actually ur trading method/system automatically adopts to the sma value......but, IMO, never keep changing the sma setup. u can use 2 or 3 combination sets also, but once u have experimented and finalized the values best suited to ur thinking and trading, stick to them.....i earlier used sma 8/34 heavily.....then gradually shifted to sma 15/50 and thereafter stuck to it

Guru Mysore: Thank you Js ji 🙏

Sanket Talathi Netherlands: EMA will also give same results???

: if u ask me to rate technical indicators 1 to 10, then sma will be at no.1

Vikram Bangalore: Js sir... have read ur 8-34 deadly combination artical....

: if all technical indicators are stopped by some software blackout, then u can trade with sma alone without too much sacrifice of accuracy after a little bit of adjustment

Guru Mysore: I read one beautiful line about trendlines....it even captures the raising inflation with it..(long time frame charts)

: ema will also give almost same results.....

Guru Mysore: Also read ema will give gud results if its less than 100 bars and above it nothing to beat SMA

: if i am forced to trade even without sma, and without any terminal.....i can still trade without anxiety with auto limit stoploss

Devender Malhotra Rewari: I too prefer 89 Ema and 20 sma in 5 mins..

Guru Mysore: Mechanical trading → emotion less trading

: a commando father of one of my friends had the following distinction.....he could face/handle/counter any dog barehanded, and a large cat (leopard etc) with just one strong stick...."use ur head, use technique and practice it" was his credo line......how wonderfully adapts to trading as well!!!

: there is no real advancement ("in the trading also") without a crisis.........as goes a saying

: our trading positions should be disaster-proof and surprise-friendly.....self talk

: because both are there aplenty in the market....

: traders should always dare to carry a (safety)pin in the pocket to test the operators' balloon as and when it touches our nose

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