A new Life, A new Career, A new Dream - I am a Trader

[jagankris]

amma amma...

Aama Aama - (ok ok)

or

Amma Amma

 

[soft_trader]

Aama Aama - (ok ok)

or

Amma Amma

Hi jagan,

If you use image as an attachment you will soon run out of space. Use third party image hosting site such as tinyurl.com or postimage.org etc.

 

[jagankris]

EOD Update

No trades are done today. Did not get any signal. Short set up was formed around 5640-5650. But did not get any chance for a suitable entry.

That's because you are not going to get that oppurtunity

 

[Taiki]

That's because you are not going to get that oppurtunity

Did not get you bro..

 

[jagankris]

Did not get you bro..

Means the probability Markets going to that levels is limited.
Further downside till 5475 is expected.

 

[Taiki]

EOD Summary

A bad cum break-even day. Did 4 trades, and all the profits will be eaten up by brokerages.

Trades

1. Missed the 1st signal in opening hour, Got a sell signal around 5615-5620, with a target of 5565. Missed this trade. Nifty spot made a high of 5616 and low of 5570 in this first hour.

2. Got another sell signal around 5615, with a target of 5570. Took this trade. but Nifty changed the direction fast. Stop loss was of 5 points, and stop loss triggered. But this trade could have been avoided because I took the trade before confirmation.

Shorted NF @ 5625, Exited at 5635. Loss of -10 points

3. Trend changed to buy side and got a buy signal.
Bought NF 5640, Stop loss = 5630, Target = 5680. TSL moved to breakeven at 50% when 50% target achieved. TSL got hit.

Gain of +3 points

4. Re-entered when the trend resumed on upside. Bought NF @5655, Stop loss = 5650, Target = 5670. Exited at 5670.

Gain of +15 points

5. Got a sell signal in the last hour, at 5630, with target of 5600, 5570. NF Sell order did not get executed at 5635. and Nifty fell fast. Did not wanna chase the move.

Overall gain = +8 points.

Thoughts and Lessons

1. Even if signals were coming from hourly frame, got 4 signals today, as Nifty was attempting moves on both the side. Profit wise day was breakeven. But I enjoyed the day as Nifty kept me busy for the entire time.

 

[prabhsingh]

Taiki,

Is it possible if you can share some screen shots as well where you feel signals are coming so that seniors can advice you on your positions taking levels.

 

[Taiki]

Taiki,

Is it possible if you can share some screen shots as well where you feel signals are coming so that seniors can advice you on your positions taking levels.

Okay prabhsingh, From tomorrow will try to post charts with my entry, exit marked post market hours.

 

[Taiki]

Little modification in trading strategy

As I was analysing my option trades from first 2 weeks with lower time frames, I got to know what my problems were and here are few steps that I have worked out. I would like to hear about seniors words on this.

Problems

- I was observing 5 min TF at that time. When the smaller time frame trend was along with the bigger trend, i traded quite comfortably. And made profits.
- But when smaller trend was against the bigger trend, which was happening during a retracement I was trading in the opposite direction. And i was getting uncomfortable as well.

Approach and Plans Now

- After shifting to hourly frame, many signals from lower time frame went away, and I am not worrying about intraday whipsaws. Signals are coming slower and lesser. But mostly high probable ones. And with the hourly frame result, with which i am quite satisfied, i will give it some more time to see its outcome.

- From smaller time frame (I am following 10 min now), only those trades will be taken which are in the same direction as hourly chart. Counter trend trades will simply be avoided.

- I am trading the hourly chart with Nifty FUT which i will continue to do (No changes here). And plans for trading the smaller frame will be with ITM option with 1 lot only. Fixed 5 points stop loss and fixed 5-10 points target.

So will it be wise to do so ?? Will it be good to take the small trades in the direction of hourly trend with ITM option.

Regards
Taiki

 

[rajgreenpeace]

Okay prabhsingh, From tomorrow will try to post charts with my entry, exit marked post market hours.

My suggestion avoid trading before two day's of near exp.....try to to fresh trading after exp....Decide your monthly points (tgt).....When ever you achieved tgt stop trading....but on itching day (Day trader ka real problem that's why I am calling myself Gambler).....trade minimum....with tight sl....:thumb::thumb::thumb::thumb::thumb: