Comment on Mr Consistent returning incredible returns

vicky commented on 06 Jan 2014, 07:20 PM

Hi Madan,

Firstly, you come across as a very knowledgeable trader.

Recently, i have observed that market makes a good move up or down for a day and then gets into choppy days for next 1-2 days. In such days, market will make high and then low and then take out high once again. These movements are limited to 30-40 points move. since it is very difficult to know the market move beforehand and every moment is unique. How do you decide if you have to take long or short or again long based on your 10 minute swing pivots? Or do you wait at high level support/resistance (like previous day high/low) to enter the trade to avoid these moves? Also, it is difficult to know if the next day may turn out to be trend continuation or reversal after such whipsaw day, do you book profits before end of day even if your TSL is not hit or always carry your position next day and not be worried about gap up and down?

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