Today Nifty opened Gap Down and than continued its downtrend till it reached the 4842 levels set up a panic bottom than a pullback and than again a decline before closing hours.How many traders blindly shorted at open levels and end up in losses and How many must be averaging there longs at 5100-5000 levels only based on there emotions and intuition. As a Trader you should always trade on your trading system not with your emotions.
Buy and Sell only when your levels comes not on your emotions.
I have interacted with many traders and mostly are trading on der emotions never on there system or levels which is one of the reason why they loose money.
Trading System is how a trader selects and executes trades.
Trading Rules is how a trader implements the total Trading System
Trading Plan is the total, detailed plan of how a trader plans to achieve...
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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/
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