Nifty has been doing nothing from past 5 trading sessions and many of my fellow traders are getting frustrated and irritated by the market moves.(including me ))
We intiate Buy and see our profit going in a whip of seconds and hitting our Sl.
We intitate Short it comes near our tgt and again get whipsawed 🙁
One of the most important of Trading when is your position sizing. Never ever trade with High volumes in Sideways market.
Your most important asset your trading Capital should be protected in such market. Due to whipsaw you can loose.
Sideways market best thing to trade in Find Support and Resistance and make entry and exit in small price target using swing trades.
The key point for swing trading is finding a market that is trapped in a sideways trading range (also called a congestion area), or in an up-trending or down-trending channel on the chart . When observing from the chart,Identify support and resistance levels that are boundaries of the congestion area or channel.
Initiate Buy near Support with a Small Sl Eg 5480 has been lower end of Nifty Prices near it should be used to make entery with a 10 point sl
It sounds simple, but remember, trading contains a lot of surprises. The price might break out the support or resistance boundary anytime, therefore skills to response quick, or good money management strategies are always critical characteristics of a seasoned trader.
Preserve your profit in such market as soon as you get !!
Nifty is trading in Range of 5480 and 5570 and a Strong Resistance at 5610.
Try to trade this range Buying on Prices near 5480 and Selling around resistance of 5570 with SL and with light volumes.Once the range got broken than only take a big positions.
Do not force market to give you money if it does not want to give money.
