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

[Taiki]

I am done for the day, My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

 

[rajgreenpeace]

I am done for the day, My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

Wow great....:clapping:.........stay away from pc........enjoy.......:thumb:

 

[Happy_Singh]

I am done for the day, My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

Congrats on a great trade execution :thumb:

I did my trade and was wondering if you caught it, as had read your analysis just before open . . .

Luckily the market opened just below yesterday and the gap was not huge so we could catch the reaction / / bull trap . . .

Today i woke up late and was late to start the terminal, just my luck to have all the lines marked from day before yesterday . . .

If had missed this one, there was no end to kicking myself for being lazy . . .etc. . . etc. . . specially as was carrying a small long position from day-before


Anyway . . . a very profitable day/week . . .

yep the profit/loss part done for today . . .

but we don't stop trading, as that's the job we do . . .

earning is done, learning continues . . . more time with live price action = more learning :thumb:


Happy

 

[Tlahuicole]

I am done for the day, My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

Taiki what you had done is very good, but just a bit of suggestion from your trading buddy, you would have exited half of the initial positions, and kept TSL for for the remaining so that, even if market moves in your direction, it would be great for you. Just my suggestion, because that is what I do and have beniftted recently from it in certain situations.

 

[jain.er]

Taki bhai there was a potential of making 200 points today

 

[Mr.Perfect]

I am done for the day, My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

Well done Taiki, good going.. all the best :clapping:

 

[Taiki]

Taiki what you had done is very good, but just a bit of suggestion from your trading buddy, you would have exited half of the initial positions, and kept TSL for for the remaining so that, even if market moves in your direction, it would be great for you. Just my suggestion, because that is what I do and have beniftted recently from it in certain situations.

Yup buddy, you are so right. But currently I am trading with single lot only

Regards
Taiki

 

[DanPickUp]

Taiki what you had done is very good, but just a bit of suggestion from your trading buddy, you would have exited half of the initial positions, and kept TSL for for the remaining so that, even if market moves in your direction, it would be great for you. Just my suggestion, because that is what I do and have beniftted recently from it in certain situations.

Well, interesting to see that you trade like that, as most here advocate for adding or allso called pyramiding in an ongoing trade, in which market moves in the wished direction.

As you do, you lower your risk, compare to increasing your risk through adding, and you lower your entry price throuhg bringing home some profits (this specially when reducinng options after certain moves in the market).

On the other hand we lower our profits we could make when would stay with the whole amount of positions we have in the trade. Some see only the pyramiding style as the holy grail and for others the holy grail is to reduce risk like you have done it. I do not have any statistics at hand about which one is better in the long run. If some body has, please post it.

Take care / DanPickUp

 

[HEM]

I am done for the day,My biggest single day profit since I started as a trader.
profit of 95 Nifty points. :clap::clap:

I dont care what nifty will do for the rest of the day. Closing my day, Time for early weekend fun. :clap::clap::clap:

Regards
Taiki

Dear Taiki,

Very nice,congrats..........:clapping::clapping::thumb::thumb:


HEM

 

[Tlahuicole]

Well, interesting to see that you trade like that, as most here advocate for adding or allso called pyramiding in an ongoing trade, in which market moves in the wished direction.

As you do, you lower your risk, compare to increasing your risk through adding, and you lower your entry price throuhg bringing home some profits (this specially when reducinng options after certain moves in the market).

On the other hand we lower our profits we could make when would stay with the whole amount of positions we have in the trade. Some see only the pyramiding style as the holy grail and for others the holy grail is to reduce risk like you have done it. I do not have any statistics at hand about which one is better in the long run. If some body has, please post it.

Take care / DanPickUp

Hi Danbhai,

As you have said adds are very important to any system rather than bulk entry, but what I usually do is, if my two systems give entry signal on the same time, I go in with all the lots at once, instead of making adds. This has back fired sometimes, but the rewards are believe me extremely awesome. If it back fires I will only be a little upset because its like getting my two trades stopped out at the same day and has happened many times before. But If SL is not hit and market moves in my direction, then I make partial exits with TSL, if the market is extremely bullish or bearish, this is very useful and extremely rewarding, I will be able to gain around 9R that day, if its not extremely bullish or bearish anyway TSL will be taken out because I keep a wider range for TSL getting triggered. Usually, adds are best as per my humble opinion because as you have said they let us avoid the initial risk and increase the final reward and I guess any method should have adds within it and partial profit booking within it to get good returns in the long time, just my humble opinion.

I was ignoring adds and partial profiting in my initial strategy and It was even difficult to break even, now I have added a rule for taking adds which is like pyramiding style, If I take 10 lots initially then on first add signal I will add 5 lots and next add signal 3 lots and final add signal 2 lots. Even, after making add rule, I found that I was giving away profits to the market because of absence of rule for partial booking of profits in my system, So , now I exit as per TSL based on 15 min charts for 0.6X of my initialy X entries and TSL based on 30 min charts for 0.4X of my entries. This, I have done for only one week, so lots of refinement in queue

I also found out most of the times I guess market movement correctly, but my stops get taken out and market reverses, so I need to find a re entry rule which will work on all market conditions and timings. Working on this part very hard for past few days, still seeing the skies and no clue yet