25th Nov '15

As expected it was downhill again however there was NO let off of motivation and I implemented new learning.

I observed that most of the times my trade identification is decent but I still ended up in negative due to lack of profit locking. 

So starting 23rd, I started locking profits to ensure my capital is preserved and I live to fight another trade.

3m for the Beast, BNF, was not working for me. TF changed to 5m from 23rd.


Also, I used to get in trades quite often. Now from 23rd, once a trade is closed I don't even look at the charts for 3 more candles or 15 mins.

Date : Net Points (including all costs)
05/11 : -12.2 NF
09/11 : -28.2 NF
10/11 :   29.1 NF (Equiv.)
13/11 :   61.6 NF (Equiv.)
16/11 :  -40.3 NF (Equiv.)
17/11 :  -44.3 NF (Equiv.)
18/11 : NO TRADE (Could not understand the moves)
19/11 :    10.5 NF (Equiv.)
20/11 : NO TRADE (Could not understand the moves)
23/11 :    33.6 (Equiv.)
24/11 :    23.5 (Equiv.)
Month : 33.2 Points

14th Nov 15

Down. Dusted. Ignored. Wretched. Loss. Poor. No Capital.

Well it all happened since May to Aug and I lost not only all that I had in the market but also a few more that I had in the bank.

Nothing worked 'cause I did not let it work. Did not follow any of the rules. 

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.
3. Will be DISCIPLINED enough to adhere to systems fully, even when they give me a string of losses.
4. Will lock-in profits via TSL while looking for big gains.
5. Not getting emotional during trades.
6. Not taking revenge trades.
7. 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.
8. Will always ensure capital protection when I am in profits and moreso when I am not in profits.
9. Will NOT average out my losers. Will only add when I am in profit.
10. 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.

Jumped from Futures to Commodities to Futures and the pattern followed everywhere. Initial gains followed by big losses. I am consistent in making the same errors. (That clarifies that I can be consistent, its just that it has to be on the positive zone).

Was left with just 70k by end of Aug, so switched to Equities. Made some gains and had the plans of making 2% per month. Again on-track for the first 2 months however now in Red in the third month. Went back to board, trying to un-learn some old concepts and learn new concepts and integrate old with new. Going through the thread " Pivot Trading- a new way of Trading" on Traderji which gave me the understanding of Pivots and Market Structure in a better manner. 

Started with NF & BNF on 5th Nov. Have gathered 261 points till now. Like all previous times started on a positive note but I will ensure it will not end on a negative note this time. 

Discipline in adhering to the rules is a must. Since I see myself earning at least 200k from the market in a couple of year's time then I cannot and will not fail this time. 

I am inspired by Subhadip of the above thread who is consistently making money. He is way ahead of me but EVEN IF ONE PERSON CAN DO IT THEN I CAN TOO.

I have been knocking on doors of quite a few individuals if anyone can mentor me. Had someone at the beginning of this year but his was more of a Gann based method. Not that it was not tradeable or successful but I could not take it further. Need someone to hand-hold me for a month or so. Incidentally in talks with a couple of people. Let's see what I can make out of their help. 

Date : Net Points (including all costs)

05/11 : -12.2 NF

09/11 : -28.2 NF

10/11 :   29.1 NF (Equiv.)

13/11 :   61.6 NF  (Equiv.)

Month : 50.3 Points

Fortune favours the brave Disciplined.