if you are the trader you should be greedy to cut your losses early and greedy to make more profits.
and this all happen when market with you, before taking a long and short trade in any particular product you should be clear about the trend of nifty, if nifty goes short, try to initiate short trade because all the stock are correlated with nifty
and if you think from here nifty go short try to pic those stock who's lifetime high this is my experience.
today i want to tell about my today's trade on MGL (Mahanagar gas limited)
which is there lifetime high 
this is the daily chart of the MGL and here you can see that there are three lines I had drawn
blue line is put at last time high
and first red line is initial support and last red line is long time support
this is the hourly chart of and here you can easily see that the cleary short
this is the chart when I initiate the trade, in third last red candle I get the indication to go shout and last candle I get the confirmation, and as nifty go short I get the whole target
and if I talk about the risk-reward ratio in this trade had taken only 1.29% risk and 3.45% is my reward
trading is all about risk-reward ratio if your trading accuracy is still 50% but your risk-reward ratio is 1:2 so in a month-end, you will be in profitable (trade like a casino must watch)
so thank you to read this
stay tuned
Happy trading
Comments