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

[TraderRavi]

EOD Summary

A bad day, started the week with loss.

Got whipsawed many times before the inflation data comes out. And have lost 16 points in 5 trades. Could not pick the short trade early (though chance was there) during the fall at 5930. Rest of the day was only watching nifty falling with frustration..

All the whipsaws and loss accounts to my bad trade execution and reacting to market situation. I found only intention in my mind during the market hour was to get in the trade early, but when I analysed my trades and chart during post market analysis all the signals were clear in the chart in this beautiful day. Need to keep a blank and relaxed mind during the market hour.

Rest, just moving on and keeping points from my mistakes today, hoping for a better day tomorrow.

Regards
Taiki

actually fall from 5930 to 5820 was very fast........I shorted @ 5972 but booked around 5940, it stayed there for many bars, again shorted twice around 5930-35 region but TSL hit @ cost both times, then it fell after 12 , whooom...........

 

[Taiki]

EOD Summary

Another bad day. Whipsaws continued and i was swinging in SL and breakeven, over all loss was in my control till mid day with only -12 points. Then went into revenge mode at a sight of breakout but did not closed my position at the required time..

Net loss = -27 points, 7 trades (Brokerage is yet to be cut).

Need a break now, last fews days are not going good. In a profit of 10% gain after all these loss, and protecting the capital is a must. So need to re asses my plans, trades everything.

Regards
Taiki

 

[arcus]

EOD Summary
Need a break now, last fews days are not going good. In a profit of 10% gain after all these loss, and protecting the capital is a must. So need to re asses my plans, trades everything.

Regards
Taiki

If you have made 10% in September, its pretty good. Trading is just like any other business; you will have profits and losses.

Dont get too sad because of losses, don't get too happy because of profits. Keep your emotions in check.

Try to avoid sideways markets, they tend to produce a lot of whipsaws.

 

[Taiki]

If you have made 10% in September, its pretty good. Trading is just like any other business; you will have profits and losses.

Dont get too sad because of losses, don't get too happy because of profits. Keep your emotions in check.

Try to avoid sideways markets, they tend to produce a lot of whipsaws.

Yes brother,

all the losses accounts to the last few days whipsaws. The chances of recovery was there on Monday, but my bad luck I missed it due to my mistakes.. Profit this month was at 13% but has been reduced to 10% now. So protecting the capital is must. 7 days are left now in this series, need to trade less and trade safe.

Regards
Taiki

 

[DanPickUp]

If you have made 10% in September, its pretty good. Trading is just like any other business; you will have profits and losses.

Dont get too sad because of losses, don't get too happy because of profits. Keep your emotions in check.

Try to avoid sideways markets, they tend to produce a lot of whipsaws.

@Arcus

As you are a swing trader, you must surely also know how to trade sideways markets, don't you? Even in moving markets you have many times clear ranges. As the market slowly or sometimes faster moves up or down in such markets, it only looks a bit different. If you make a screenshot from such a trendy market on a bigger time frame, cut it out and place it in front of you, what do you see? A pure swing market. So what is the different to trade that swing market or a sideways swing market? I am clear that one is moving up or down, but if you go for entries on S or R, it will not change much if you now trade the upwards or downwards market traded on that S&R levels or sideways moving market. As I respect your views, wondering to hear some words about that if your time permits.

Take care / DanPickUp

 

[arcus]

@Arcus

As you are a swing trader, you must surely also know how to trade sideways markets, don't you? Even in moving markets you have many times clear ranges. As the market slowly or sometimes faster moves up or down in such markets, it only looks a bit different. If you make a screenshot from such a trendy market on a bigger time frame, cut it out and place it in front of you, what do you see? A pure swing market. So what is the different to trade that swing market or a sideways swing market? I am clear that one is moving up or down, but if you go for entries on S or R, it will not change much if you now trade the upwards or downwards market traded on that S&R levels or sideways moving market. As I respect your views, wondering to hear some words about that if your time permits.

Take care / DanPickUp

Trends are always relative and depend on the time frame of the trader. Here is an example

For someone like Taiki, this might be a sideways market (15 minute time frame for the past 6 trading days). Look below.

For someone like me, this is a sideways market (Daily time frame). Look below.

For a positional trader, the past year was a sideways market. Look below.

For an investor who holds stocks for many years, the past 4 years has been a sideways market. Look below.

The question is, which time frame trader are you?

 

[DanPickUp]

@Arcus

Thanks to post that charts. Well, every time frame we can trade. That is not the question. A nice example for what I meant is the monthly chart you show. First down move from 6200 down to 4550. You showed the resistance trend line in that chart. But you also have the support trend line on it, which you not put in this time. It is a pure range. So we again have Support and Resistance. It looks not horizontal like in the daily chart you show, but it is S and R. If you now cut out that down moving range by cutting every thing away under and over S and R, put that piece of chart in front of you, what do you see? A range bound market like seen in the daily chart, just a bit different. That is what I meant and that is why it is possible to trade any sideways range or any up and down moving range. Don't you think so?

I know, that is not what is told in this forum, but I thought you may also follow such out of the box trading ways. Was just a question and nothing else.

Take care / DanPickUp

 

[arcus]

@Arcus

Thanks to post that charts. Well, every time frame we can trade. That is not the question. A nice example for what I meant is the monthly chart you show. First down move from 6200 down to 4550. You showed the resistance trend line in that chart. But you also have the support trend line on it, which you not put in this time. It is a pure range. So we again have Support and Resistance. It looks not horizontal like in the daily chart you show, but it is S and R. If you now cut out that down moving range by cutting every thing away under and over S and R, put that piece of chart in front of you, what do you see? A range bound market like seen in the daily chart, just a bit different.

I think this is what you meant.

That is what I meant and that is why it is possible to trade any sideways range or any up and down moving range. Don't you think so?

It is possible to trade sideways markets by keeping a tight stop loss and buying at the lower end of the range and selling at the upper end of the range.

But the most profitable trades occur after the sideways range has broken and a clear trend has emerged.

As John J Murphy says in his book "Technical Analysis of the Financial Markets" and I quote

Most technical tools work very poorly when the market enters a trendless phase

Three decisions confront a trader.
Whether to buy, sell, or stand aside

When a market is rising the buying strategy is preferable, when it is falling , the second approach would be correct and when it is moving sideways, it is best to stand aside.

 

[DanPickUp]

@Arcus

That is a nice chart. :thumb: We can trade that one just by entering at point one and exit when point nine is broke for the new uptrend or we take the signals in the range and make a few more trades. So it is the same like a sideways range, just in an angel chart and not in a horizontal chart. (Sorry about my translation). I am clear that when a trend has emerged the moves are nice. Here we even could look at low vola and then the explosion of the vola at first when the new trend occurs. But that is not the subject now. Just tried to go a bit deeper with the discussion to make people think that in what ever chart Support and Resistance occur, it is possible to trade it. There are in many cases real ranges, what ever time frame we talk about, and this ranges we have to spot and to see and then we can trade them like any other ranges in up or down or sideways markets. So we not have/should be afraid of sideway markets. I am clear that this sounds more easy then it is to trade, but: We can or as the NSA would say: We scan

Thanks for your input and your help with your charts :thumb:

Take care and see you around / DanPickUp

 

[candle]

Dear Taiki,

Thanks a lot for providing this thread which has now been grown up as one of the wonderful thread here.The discussions and thoughts that are prevailing here are awesome. This is growing like a charming night which is being enlightened by so many stars.....DanPickup, Jagankris, Tlahuicole, Timepass, TraderRavi, Gandhar., Vijay, Healthraj, Rajsumi121, Gaur Kriswhna & many many more !!

I have gone throgh the thread and gained a lot of inspiration, thanks to all the stars.

A special thanks goes to Traderji for providing such a wonderful platform enlightning the mind and soul of people. So many people....so much of knowledge....lots of inspiration... I will definately grow here.

Kindly ignore my mistakes as I am very new to this world, starting my journey with this first post of mine.

Thanks again !!!