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100%
accuracy refers to your ability to calculate Nifty
levels - in every reversal - up move or down move - to
exact levels. 100% accuracy doesn't mean all your trades
will be profitable.
The reason for not making profit on a trade can be two.
1. As per PRISM system, on market reversal, price will
initially have 2 target levels. The first level has to
be crossed by 3rd point to reach the next level. So if
the price stops at the target level + or -2, one should
be ready to take profits. In case the price cannot go
above the level by 3rd point, price will retreat from
here and the trader can get into a small loss if s/he
doesn't exit the trade quickly.
Example: a. Buy Call at
X. 1st Level y. 2nd
level: z.
The price can retreat from -2y to y+2 (+/- 2 points). If
price touches y+3, it will certainly go 2-z to z+2. If
it touches z+3, it will next go to new level and beyond,
which will unfold step-by-step.
Some time, the trader waits too long to exit the trade
at a profit even when price fails to break past y+2. If
a sell set-up builds up here, one should exit
immediately, with whatever profits. Failure to do so may
lead to some nominal loss.
A similar thing happens to a Sell situation also.
So the best strategy is to exit at first level if price
is lacking strength in move (only traders trained on
PRISM system will be able to understand the strength of
a price movement) but at the same time put a Buy trigger
at y+3.
This is the beauty of PRISM Intraday Trading system.
2. Between 3rd and 4th level or between 4th and 5th
level, there may be temporary corrections. If the price
has moved up too rapidly or too much (anything above 50
points in a particular movement within the day in this
bear market is too much); there may be a temporary
correction in price. One needs to exit the trade at a
sell set-up so as not to take undue risk.
I the price has had a longish run, say, 70 - 80 points
or more, the correction can last longer and deeper too.
So holding on to the trade after a sell set-up (for buy
trade) or buy set-up (on a short sell) have become
apparent, is taking un-necessary risk, akin to
speculation.
However, very rarely will PRISM's target levels will be
missed. If not the same day, price tends to come back
and touch the level in 2/3 days too.
Traders receiving calls will be provided with
time-to-time guidance and suggestions on the trade with
periodical warnings on possible change in scenario and
corrective actions needed.
For more details on the system and the training program,
see
www.daytradingfunda.com.
Arunangshu M Lahiri is available on mobile nos.
097400-76212 (Bangalore),
09330876212 (Kolkata) as well as via mail:
sharebaba@gmail.com. |
