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

[arcus]

@Arcus

Broker or Market Maker? As you love quibbles, any thoughts to that?

Take care / DanPickUp

Why does it have to be "or" instead of "and"; as in Broker and Market Maker.

 

[DanPickUp]

Why does it have to be "or" instead of "and"; as in Broker and Market Maker.

:lol::lol: and have a nice weekend. Love this quibbles.

 

[Taiki]

EOD Summary

A good day to start the september series, did just 2 trades and got 120 points.

1st Trade

Nifty opened flat and fell in the 1st 5 min, But the fall could not break the uptrend that Nifty has created since 2 days. Used this pullback setup to go long on my 1st trade. Entered Long at 5392, with a SL at 5375, Trailed the stop loss and exited at 5462. Exited 1st trade with 70 points profit.

2nd Trade

After exit from the 1st trade, I was looking for an long re entry setup on pullback, but NF made an head and shoulder pattern (though it was not a perfect head and shoulder pattern). And as per this I had to go short at 5475, but I was sceptical about this short trade after the strong upmove in morning. But NF slowly came down to 5455. The war started in my mind, "Who is gonna win ?? The Trend or the Pattern ??"

Then I placed a Short order at 5450, below the support level, thinking mnay long trader would have placed their stops below the supports, and if price reaches that level, many stops will get hit forcing price to more down level. I was ready with a short trade with a tight stop at 10 points, and fixed target of 10/20 points. But NF fell drastically to 5380. I exited the short at 5400 with 50 points in hand.

Did only 2 trades, Net gain for the day = +120 points

There was another short setup when NF failed to cross 5425, and made a new low around 5350, But I missed the short call as I was lazy after first 2 trades.

Anyway had fun trading today, Happy weekend to all my friends. Enjoy :thumb:

Regards
Taiki

 

[TraderRavi]

great points taiki.......:clapping:

 

[arcus]

Awesome trade Taiki. Saved it in my OneNote.

 

[rajgreenpeace]

EOD Summary

A good day to start the september series, did just 2 trades and got 120 points.

1st Trade

Nifty opened flat and fell in the 1st 5 min, But the fall could not break the uptrend that Nifty has created since 2 days. Used this pullback setup to go long on my 1st trade. Entered Long at 5392, with a SL at 5375, Trailed the stop loss and exited at 5462. Exited 1st trade with 70 points profit.

2nd Trade

After exit from the 1st trade, I was looking for an long re entry setup on pullback, but NF made an head and shoulder pattern (though it was not a perfect head and shoulder pattern). And as per this I had to go short at 5475, but I was sceptical about this short trade after the strong upmove in morning. But NF slowly came down to 5455. The war started in my mind, "Who is gonna win ?? The Trend or the Pattern ??"

Then I placed a Short order at 5450, below the support level, thinking mnay long trader would have placed their stops below the supports, and if price reaches that level, many stops will get hit forcing price to more down level. I was ready with a short trade with a tight stop at 10 points, and fixed target of 10/20 points. But NF fell drastically to 5380. I exited the short at 5400 with 50 points in hand.

Did only 2 trades, Net gain for the day = +120 points

There was another short setup when NF failed to cross 5425, and made a new low around 5350, But I missed the short call as I was lazy after first 2 trades.

Anyway had fun trading today, Happy weekend to all my friends. Enjoy :thumb:

Regards
Taiki

Another star is born!!!!!

:clapping::clapping::clapping::clapping:

 

[Taiki]

Another star is born!!!!!

:clapping::clapping::clapping::clapping:

Thank you Raj bhai..

But still miles to go

Regards
Taiki

 

[jagankris]

Thank you Raj bhai..

But still miles to go

Regards
Taiki

50000000 Rs. :thumb:

 

[trade2411]

Great trades taiki, .. How difficult do you find it waiting for your trades .. because i see that you have to wait for prices to come near your predefined SR levels..

 

[Taiki]

Great trades taiki, .. How difficult do you find it waiting for your trades .. because i see that you have to wait for prices to come near your predefined SR levels..

Dear Trade 2411,

There was a post by Soft_trader which he had posted few months back in his thread. I have kept it in my diary since then. I think this would answer your question the best. Yes sometimes I get frustrated too and commit mistakes by taking trades at wrong time and at wrong setup, and no doubt my stoploss will hit.

I was watching on TV how lions hunt and it was really inspirational for us traders. As traders we can learn a lot from the hunting process of big cats.

Patience : One of the most difficult qualities to develop in trading is the quality of waiting patiently. It’s particularly more difficult for day traders. Lions, tigers etc. wait patiently till the time when conditions are more in their favor. They often go to hunt in the darkness of night as they have good vision at night while theirs preys don’t.

Set-up : They look for easy preys and their favorite ‘set-ups’ are young calves, weak or injured animals or animals abandoned from their herd In the same way a trader too first needs to find set-ups profitable for him and then play only those set-ups over and over again.

Risk Control : To avoid injury from the horns etc. of their prey they attack from behind and not from face to face. Traders should always try to minimize losses. Be wary of taking opposite position in a trending stock.

Choice of Hunt : These hunters rely on their own hunts and don’t eat animals dead because of diseases etc. Don’t trade in counters which have poor liquidity.

Emotions : These hunters hunt for their survival and not for the adrenaline rush or emotional high that they get in the process.

I am sure we can learn much more from these predators.


*Source: S.Sukhani's blog.

Regards
Taiki