ALL IS WELL in Trading - Toshi's Trading Diary

[Tharu]

exited the long in NF @5740. Profit of 22 points. But the profit points vanished on the Nifty 5800 CE and Reliance 800CE holdings.

Today i committed one serious mistake and that was even if my system had given exit calls, i continued to hold these contracts with upmove anticipation.

Along with the mistake, i missed the fall in last hour too, i did not wanna chase the market, but as if its teasing me, it just kept on falling

Anyway, closed the day with frustration and with a loss too, where with little bit of discipline it could have been a great day to end in green..

Nifty.. See you tomorrow.. :thumb:

Happens with me ALL the time...!!!

 

[toshiaki]

Happens with me ALL the time...!!!

Happens with all the trader at some point of their career. Some learns from it, some does not.. I think we should carry a mistake journal also along with the Trading diary, and check that regularly, with not repeating them,

:lol::lol:

 

[toshiaki]

Shorted Nifty fut today @5635, and covered at 5595. A gain of 40 points..
Covered yesterday's loss, and net margin up by 6.4% :clap::clap:

Tomorrow i wont be able to trade as i will be out of town, and will be back on Monday. My weekly target was 5%, and in 1st week of april, it is alreay 6.4%.

See you all on monday.. have fun. :thumb::thumb:

 

[toshiaki]

The way Nifty candle closes on 5th April (Friday), it seems like Nifty may try to take support at this level. If for coming two/three trading sessions nifty manages to hold to 5520-5540 level, then we may see another up-rise to 5650, else, 5450 and then 5300 will be in pipeline. :thumb::thumb:

 

[toshiaki]

No trades are done so far.. better to avoid Nifty in this 15 points range..
:fatigue::eat::eat:

 

[toshiaki]

Another candle closing above its support level of 5540. No clear trend so far..Will enter once it gets more clear.

An interesting pattern is to be observed here, that is, on 20th November 2012, Nifty made the low of 5548, and then from 21st Nov, it started the upmove, and touched 6111 on 29th Jan 2013. This happened in 48 trading sessions

From 6111, nifty started falling and again is at the point where it was in 20th Nov. i:e the support band of 5540. And the interesting point to note here is from 29th January (high of 6111) to today, it has crossed 47 trading sessions..
So one more trading session will make the cycle complete, and if Nifty manages to hold on to 5540 tomorrow, then we may see a big move on the next day i:e day after tomorrow.

Lets see, how this pattern is creating a trend.. :thumb::thumb:

 

[toshiaki]

Awesome day...
First bought NF @5590, exited at 5610. Re-entered @ 5615, and made loss in this second trade, and that ate up a big percentage of first trade

And then shorted nifty @5535, it was a late entry, but anyway, recovered the earlier loss and made a handsome profit,, Covered the short position at 5500.

Net margin up by 8%,, :clap::clap:

 

[TR*]

Awesome day...
First bought NF @5590, exited at 5610. Re-entered @ 5615, and made loss in this second trade, and that ate up a big percentage of first trade

And then shorted nifty @5335, it was a late entry, but anyway, recovered the earlier loss and made a handsome profit,, Covered the short position at 5500.

Net margin up by 8%,, :clap::clap:

...........:thumb:

 

[toshiaki]

...........:thumb:

Hehe, That was a typo.. thanks for pointing out

 

[toshiaki]

Finally Nifty has broken the support level at 5540, and closed at 5500 level. Next target is 5445, that is the gap created on 12th Sept 2012. Sell on every rise is the key.. :thumb::thumb: