Dev Advisory

Short term trend has turned negative for both indices

TV Today looks good for 260+

Situational Awareness (SA) is the ability to trade according to the overall market environment. Momentum burst breakouts work best under certain market conditions; identifying those conditions, trading them aggressively during that period, and avoiding periods when they are not likely to work help lower drawdowns. Reversal setups work best during specific periods. It is the same with consolidation breakouts.  Every trader who survives the market for a few years and prospers realizes the importance of SA. Those who do not blow up repeatedly. Develop SA skills if you are in this game to make and keep profits.

In his book Mastering the Trade, John Carter said: "For me, the biggest difference in my trading occurred when I learned to ignore my brain and just focus on a handful of good setups. Once I learned the setups, the next challenges was t have the discipline to follow them the same way, each and every time. I did this by recording my trading activity for over a year and focusing on the results for each setup." You need to have structured setups. You need to track them separately. You need to execute them consistently. You need to evaluate your results objectively for each setup. Determine under what market conditions these setups work well and when they don't.

Good luck Ito all traders in 2024. Remember. You can let the market own and define you, or you can own and define everything you do. The second path is the path towards success, but it’s the lesser trodden path, and it’s damn hard, but that is the path towards ultimate victory.

Glenmark hits 900 👍

Nifty health care remember or not?

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