There are different ways one can interpret the same chart and take positions, that’s what is fascinating about markets. For every trade there has to be buyer & a seller and both of them think they are right.
A trader will have his bias created based on his particular set of studies & will identify an potential trading opportunity. He will further identify an ideal entry point with SL defined and further levels for pyramiding, partial-profit booking or exit levels. Similarly there will be trader at the other end to make the trade happen for you. Most of the times, whoever is well prepared, wins on the particular trade.
A well prepared trader who follows his trade plan meticulously and aligns himself with the overall trend will come out as victor in the end. Its not about individual trades, Green Ink on the P&L statement at the end of the year, that’s what matters.
Look at the chart below of BPCL and let me know how will you trade this. I’ve just mentioned BUY limits on the chart but, similarly there will be sellers waiting with expectation of breakdown at those levels.
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ReplyDeleteForex market india,
ReplyDeleteThanks for your comment & am glad you liked the content. Keep visiting.
Also, it would be helpful if you would let us know what does it take to trade in Forex from India, i myself have plenty of questions on the same.
Regards,