@ 9:53 Nifty facing a R at 8535. Minor R of 8514 crossed successfully and now finding a S at 8514.
Tuesday, March 31, 2015
Monday, March 30, 2015
30th Mar 15 - 03
per NN, @ 15:21, once the PDH was broken which was the 2nd attempt today there was no stopping the move and went as high as 8565.
Cooling off a bit in the dying 10 mins of the trading day.
After a long spell of down-move, an up-move was expected but then this could also be a relief rally. Only time will tell if this rally persists or not.
at 8555, 118 of my -175 points has been improved by this up-move. Still 57 points to BE. My TP will be around 8820 i.e. a profit of 200 points. Will use 30 point TSL once it reaches 8820. Let's sit tight and let the market decide.
This trade is yet not as per any of my rules.
Best of luck to me.
Cooling off a bit in the dying 10 mins of the trading day.
After a long spell of down-move, an up-move was expected but then this could also be a relief rally. Only time will tell if this rally persists or not.
at 8555, 118 of my -175 points has been improved by this up-move. Still 57 points to BE. My TP will be around 8820 i.e. a profit of 200 points. Will use 30 point TSL once it reaches 8820. Let's sit tight and let the market decide.
This trade is yet not as per any of my rules.
Best of luck to me.
Sunday, March 29, 2015
30th Mar 15 - 02
per NN, @ 12:23, Price trying to reach CDO, may BO as it tried to break it thrice 11:55 to 12:05.
next challenge may be PDH.
next challenge may be PDH.
30th Mar 15 - 01
NF April, opened with a 38 points GAP up at 8476.
@ 11:45 AM, trading in a range of 40 odd points between 8452 and 8494.
From NN perspective, BOF happened at PDH of 8485 and went below Current Day Open (CDO).
@ 11:50, trying to reach CDO, may have challenge and will be FTC.
@ 11:45 AM, trading in a range of 40 odd points between 8452 and 8494.
From NN perspective, BOF happened at PDH of 8485 and went below Current Day Open (CDO).
@ 11:50, trying to reach CDO, may have challenge and will be FTC.
New Day
Today is a new day.
Starting the month with a -176 points. Yup, that's minus. Pulled the wrong trigger in Mar and persisted with it without biting the SL.
Well, did not put any SL in the first place. Rolled the position over to Apr. and again a nosedive and again no SL implemented.
Will persist with this trade for another 200 points on the downside or about 300 points on the upside. Not sure what the market has in mind.
Not hoping anything. Will take as it comes.
Will implement the system and rules once this position is closed.
Best of luck to me. I still have a long way to travel.
Starting the month with a -176 points. Yup, that's minus. Pulled the wrong trigger in Mar and persisted with it without biting the SL.
Well, did not put any SL in the first place. Rolled the position over to Apr. and again a nosedive and again no SL implemented.
Will persist with this trade for another 200 points on the downside or about 300 points on the upside. Not sure what the market has in mind.
Not hoping anything. Will take as it comes.
Will implement the system and rules once this position is closed.
Best of luck to me. I still have a long way to travel.
System for Positional
Tried my hands at developing a system for PT (positional trades). Not successful yet.
Will keep the hunt on.
Will keep the hunt on.
Saturday, March 28, 2015
Systems and Rules
Ok. So which system/s will I follow?
Before I list down the systems I plan to follow, this is the snapshot of my progress so far. April just about started (from Derivatives perspective) and I am already in RED.
What a curve :-D
This will change.
For Day Trading.
1. Gann Square of Nine (inspiration Bramesh Bhandari)
2. Gann Square of Nine - Counter Trade (inspiration Bramesh Bhandari)
3. OHL (inspiration Bramesh Bhandari)
4. GAP filling (inspiration Bramesh Bhandari)
5. Price Action based on Decision Points (inspiration Nifty Nirvana)
(Will not disclose any details of of BB methods. NN method is free for all so may share them)
For Positional Trading.
No System as yet. Will add when zero-in on something. (Important as I do not intend to keep myself glued to the screen forever)
Rules.
Putting a set of rules is the easiest thing to do however adhering to them is the actual thing. Have not followed these rules till now, will I do it going further?
Not sure but then why am I putting up a this whip?
1. EGO and Trading CANNOT go hand in hand.
2. No bargain hunting i.e. if the long entry price as per system is 8521, then will not enter at 8518 to gain 3 points as bargain.
2. Will be DISCIPLINED enough to adhere to systems fully, even when they give me a string of losses.
3. Will lock-in profits via TSL while looking for big gains.
4. Not getting emotional during trades.
5. Not taking revenge trades.
6. No panic to enter or exit a trade, more so during entries. Markets are there to stay even if I am not able to enter one day or one week or one month.
7. Will always ensure capital protection when I am in profits and moreso when I am not in profits.
8. Will NOT average out my losers. Will only add when I am in profit.
9. Two successive losses in a day, means no more trade for the day. Four successive losses in a week, means no more trade for the week.
UPDATE based on 10th Apr trades.
Two losses in a day, successive or not, means no more trade for the day. Four losses in a week, successive or not, means no more trade for the week.
UPDATE based on trades till 2nd Apr.
Two losses in a day, successive or not, means no more trade for the day. Two losing days in a week, successive or not, means no more trade for the week.
10. No Hoping/Praying. Only Discipline and adherence to EP, TP, SL, TSL.
11. No adjusting of SL once in the trade, ONLY TSL can be adjusted towards the profitable side.
12. Become friendly with my psyche and market action. Learn. Rinse. Repeat.
As little as 5 net points a day (post brokerage and other costs) will give me 1000 points in a year. This is as good as 100% return for the year.
No need to try and become filthy rich in a month, but if done consistently it will happen sooner than we can imagine. Once we become consistent with the methods and execution, scaling up will be a minor thing.
Very important to document the WHY of the trade.
Best of luck to me. It will all fall in place.
Before I list down the systems I plan to follow, this is the snapshot of my progress so far. April just about started (from Derivatives perspective) and I am already in RED.
What a curve :-D
This will change.
For Day Trading.
1. Gann Square of Nine (inspiration Bramesh Bhandari)
2. Gann Square of Nine - Counter Trade (inspiration Bramesh Bhandari)
3. OHL (inspiration Bramesh Bhandari)
4. GAP filling (inspiration Bramesh Bhandari)
5. Price Action based on Decision Points (inspiration Nifty Nirvana)
(Will not disclose any details of of BB methods. NN method is free for all so may share them)
For Positional Trading.
No System as yet. Will add when zero-in on something. (Important as I do not intend to keep myself glued to the screen forever)
Rules.
Putting a set of rules is the easiest thing to do however adhering to them is the actual thing. Have not followed these rules till now, will I do it going further?
Not sure but then why am I putting up a this whip?
1. EGO and Trading CANNOT go hand in hand.
2. No bargain hunting i.e. if the long entry price as per system is 8521, then will not enter at 8518 to gain 3 points as bargain.
2. Will be DISCIPLINED enough to adhere to systems fully, even when they give me a string of losses.
3. Will lock-in profits via TSL while looking for big gains.
4. Not getting emotional during trades.
5. Not taking revenge trades.
6. No panic to enter or exit a trade, more so during entries. Markets are there to stay even if I am not able to enter one day or one week or one month.
7. Will always ensure capital protection when I am in profits and moreso when I am not in profits.
8. Will NOT average out my losers. Will only add when I am in profit.
9. Two successive losses in a day, means no more trade for the day. Four successive losses in a week, means no more trade for the week.
UPDATE based on 10th Apr trades.
Two losses in a day, successive or not, means no more trade for the day. Four losses in a week, successive or not, means no more trade for the week.
UPDATE based on trades till 2nd Apr.
Two losses in a day, successive or not, means no more trade for the day. Two losing days in a week, successive or not, means no more trade for the week.
10. No Hoping/Praying. Only Discipline and adherence to EP, TP, SL, TSL.
11. No adjusting of SL once in the trade, ONLY TSL can be adjusted towards the profitable side.
12. Become friendly with my psyche and market action. Learn. Rinse. Repeat.
As little as 5 net points a day (post brokerage and other costs) will give me 1000 points in a year. This is as good as 100% return for the year.
No need to try and become filthy rich in a month, but if done consistently it will happen sooner than we can imagine. Once we become consistent with the methods and execution, scaling up will be a minor thing.
Very important to document the WHY of the trade.
Best of luck to me. It will all fall in place.
Observing My Movement
It is very pertinent to understand why I am writing this blog.
I am NOT making any money in trading rather losing consistently. Ever since (Dec '14) I have started tracking my monthly figures, its in RED.
Its all hap-hazard. No route. No Consistency. No Success.
It has to change. It HAS to change. I will change it.
The first step is to observe what I am doing on a daily basis. What steps I am taking towards my goal achievement. This blog is for my personal consumption. This will guide me.
Post the birth of our second child, last Oct, free time is at a premium however the joy of raising the kid is immense. My wife and kids have gone to the in-laws today hence the time is being utilized to have an online whip to keep me focused.
What are my weaknesses:
1. I am not following any system consistently.
2. As soon as I enter a trade, I get mortified.
3. I average my losers quite often.
4. I don't have the time during work hours to dedicatedly watch the markets.
5. I jump from system to system.
6. Either am consistently in the markets or am not in the markets at all.
In next post will list down what system/s I will use & why and what rules I will follow.
Best of luck to me. Wishing focused dedication to achieve my goal.
I am NOT making any money in trading rather losing consistently. Ever since (Dec '14) I have started tracking my monthly figures, its in RED.
Its all hap-hazard. No route. No Consistency. No Success.
It has to change. It HAS to change. I will change it.
The first step is to observe what I am doing on a daily basis. What steps I am taking towards my goal achievement. This blog is for my personal consumption. This will guide me.
Post the birth of our second child, last Oct, free time is at a premium however the joy of raising the kid is immense. My wife and kids have gone to the in-laws today hence the time is being utilized to have an online whip to keep me focused.
What are my weaknesses:
1. I am not following any system consistently.
2. As soon as I enter a trade, I get mortified.
3. I average my losers quite often.
4. I don't have the time during work hours to dedicatedly watch the markets.
5. I jump from system to system.
6. Either am consistently in the markets or am not in the markets at all.
In next post will list down what system/s I will use & why and what rules I will follow.
Best of luck to me. Wishing focused dedication to achieve my goal.
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