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

[Aarav11]

Trade details on friday

Regards
Taiki

Hey Taiki,

When SL hit that means we think that the trade will not go in the direction in which we thought it will go. SO it will either go in reverse direction or it will be entering in sideways zone.

So why you did not did reverse trading when SL got Hit??

If you are long and SL Hit you should go short right??

 

[Grules]

its infact a good strategy to keep double stop loss and a lot of people i know use it frequently esp when volatility is very high , like we saw recently

 

[Taiki]

Congratulations on completing your first milestone.

Also keep track of important details like the

1) Average reward:risk ratio
2) Average win ratio
3) "Brokerage ratio" (As in Brokerage/Profits made)
4) Earnings percentage per month on your trading capital
5) Total Nifty points earned, etc

(An example, albeit a pretty detailed one)

These are all important parameters to be successful in the long run.

Thank you bro,

got few good suggestions and will keep them in my journal.

Regards
Taiki

 

[Taiki]

Hey Taiki,

When SL hit that means we think that the trade will not go in the direction in which we thought it will go. SO it will either go in reverse direction or it will be entering in sideways zone.

So why you did not did reverse trading when SL got Hit??

If you are long and SL Hit you should go short right??

Not necessarily brother,

First of all the roles of a SL is to minimize my loss in case market is not going in my desired direction, It is not to trigger an entry. And stops of a long trade tells me to come out of a long position but not necessarily to initiate a short position. As you pointed out price may stay in a sideways range for sometime, or it may reverse its direction too. So in case it is reversing, i need to get confirmation from price pattern before entering short.

Somedays we see a quick reversal, but they are rare and not usual. It happens on day where both bulls and bears try to protect their boundary and price shows wild swing in its range. Friday was one such day, and yes on friday when my SL hits on my short trade I could have reversed my position. I failed to recognize this setup that time.

Regards
Taiki

 

[Taiki]

hello taki bro......mere ko bhi apne club me samil kar lo ........mere ko apne pass bula lo........mujhko andhaire me kuch dikhayi nhi de raha he ........to kuch light ki kiran mere trading carriyer per la do ........mujhko bhi to lift de do yaarrrrrrrr

Hello James bro,

If you are going through a down phase in your trading career then you need more patience and determination to come out of it, This is what I have learned from my experience (teacher). No one else can turn around the situation except you. Lets take the command over the situation now

I am here and will be more than glad if i can help you at any means, and this place is also full of such helpful guys, So get started brother, just pick one strategy that suits your style and master it. And let me know how can I help you.

Good luck
Regards
Taiki

 

[Taiki]

Trade Setups for 16 Sep 2013

30M Chart

On upside S/R lines are at 5900. 5960, 6040
On downside S/R lines are at 5820, 5770, 5700

3M Chart

NF was volatile on previous session but ended on flat after testing both of its range on 5900 - 5830. Both bullish and bearish strength were seen, and beyond 5900-5820 we will see trending action.

Global Index
US markets ended in green while EU markets are mixed. All the asian markets are in green with SGX nifty trading higher by 1.67 %. So Nifty will open with a strong gap, and more buying action will be seen past 5900-5910.

Trade Area
1. BOF/BPB at 5900
2. BOF/BPB at 5960
3. BOF/BPB at 5820

 

[TraderRavi]

Hello friends,

Finally I am out of the corporate slavery and now I am a full time trader.. It was a tough decision but the tougher path is ahead where I will be working from now on. All my time and energy will be dedicated to trading, learning, being discipline and enjoying my new life..

Starting the new thread, new diary, new career from today.. Best of luck to all my friends here, wish me luck too :thumb::thumb::thumb:

Taiki this first post of yours is of 27 may, so u started FTT from 27 may or earlier ?

 

[Taiki]

Taiki this first post of yours is of 27 may, so u started FTT from 27 may or earlier ?

Yes I started trading with proper system and plans from June Series i:e after 27 may, before to that I was doing it randomly with no defined system and everytime I was defining any rules I was violating them

by th way what is FTT ??

Regards
Taiki

 

[Mr.Perfect]

Yes I started trading with proper system and plans from June Series i:e after 27 may, before to that I was doing it randomly with no defined system and everytime I was defining any rules I was violating them

by th way what is FTT ??

Regards
Taiki

I think full time trading..

 

[Taiki]

Inflation data is to be eyed today

Regards
Taiki