Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Friday, January 9, 2009

Update - Some charts and quick thoughts

Charts on top...Some market thoughts and comments below all charts. Also comments added in each chart.

SENSEX WEEKLY WITH COMMENTS

NIFTY WEEKLY WITH COMMENTS
NIFTY DAILY WITH COMMENTS
NIFTY FRACTAL UPDATE

Some things here...When you trade, what determines your success above all is some sort of money and risk management. This you will need to develop on your own...I have explained my method already above...It can be stops, it can be hedges..can be a combination of this and position sizing management...

This past trade I am in now was in my opinion a very bad trade because of the area I started adding shorts from...The only reason my account did not blow up was due to proper risk management. 

Trade Update...I covered 30% of my shorts yesterday at 2800-2830 area and holding the rest. I also hedged the shorts at 2840 with 2900 calls...If market bounces next week/or crashes below 2800, I will likely close them off. But need to reevaluate that. Either way my thoughts and preferred paths are outlined in charts and posts above.

Probably no update for some time until I see some change in the scenario.

Have a good weekend all! Cheers :)


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