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This was a tough week when i could fail easily after taking three initial losses.
Apparently i was seeing Monday's losses as just those trades which i had taken in very old past on 3 minute charts in previous balance but i was helpless not to take them. My premise is to capture Weekly range and Weekly extension , and i didnt wanted to impose any discretionary thought in presuming the winning trade.
After third loss another indecisive situation appeared - whether to jump on discretionary correct but methodologically invalid Short entry or simply wait for valid entry. So far i did the same -waited for valid entry as per my methodology and got finally a trade which offset the three loosing trades of this week.
In below chart price on 24-July is from July contract and on 26-July its from Aug contract which has been on roughly 30 point premium to july on my entry.
Harvest The Moon Nest The Market
Can you help answer these questions from other members on NexusFi?
No other reason than protecting profit to quit the trade. Extension are slightly on higher side on Tuesday but that would be normal in strong trends. There appeared single high volume tick which distorted dwaps in between.
Hi Devdas,
Thank you.
Actually I have lost about two years of tick data due to hard disk crash and no backup due to my stupidity. I have one more request- if you could share with me at least 1.5 years of nifty future front month historical tick data.
Thanks in advance.
VKS
This week had almost over for me on Tuesday itself.
There were secondary Short entries also thereafter but i didnt like higher point risk due to sudden increase in volatility . Overall a positive week when i could squeeze approx 45% range in a trade so far.
I was little biased for getting Long entry that caused me to take invalid long in hurry.
But at the same time intuitively i am not comfortable with short also....but blindly following methodology and ready for another loss if comes , putting aside my all intuition and discretion.
I owe the credit to be fully wrong....but protecting profit.
Its Tuesday , and extension are in range of 70%, apart from this i had already biased long feeling thinking that this week might turn a consolidated dozi week, after last week big bearish candle.