Augubhai's diary and notes

[augubhai]

out at 10180

 

[augubhai]

long 10193. my last bnf trade of the day

 

[augubhai]

exited at 10215. done in bnf

 

[augubhai]

out of nf at 5130. bad day for nf. This is the fourth such day since June 3rd week.

did in bnf what i did in jsw yesterday - taking all whipsaws even in a trend.

still short in nilu system.

 

[augubhai]

Today's trades

Range Breakout - Nifty
short 5131, exit 5162 = -31
long 5162, exit 5138 = -24
short 5126, exit 5130 = -4

Total: -59 -brokerage (3 trades)
(worst result of July)

Nilu EOD trades - Nifty
No change today. Short still on

Acoustic System - Banknifty
long 10371, exit 10366 = -5
short 10343, exit 10363 = -20
short 10361, exit 10376 = -15
short 10376, exit 10390 = -14
short 10394, exit 10406 = -12 (lesson 1 - should have avoided shorts when the trend was up)
long 10402, exit 10415 = +13 (lesson 2 - should have trailed stops better)
long 10431, exit 10420 = -11
short 10406, exit 10425 = -19
short 10398, exit 10359 = +39
short 10331, exit 10320 = +11
short 10287, exit 10290 = -3
short 10274, exit 10265 = +9
long 10275, exit 10280 = +5
short 10267, exit 10201 = +66 (the 2 lessons from above helped here)
short 10170, exit 10190 = -20
long 10219, short 10199 = -20
short 10176, exit 10180 = -4
long 10193, exit 10215 = +22

Total: +22 -brokerage (18 trades)

My brokerage for bnf is about 5 points per trades. So today lost double of what i gained yesterday. anyways, learnt some lessons. will decide whether to trade the same next week. one lesson that i don't seem to have learnt is about avoiding close SL's. I think that the close SL's were what prevented a bigger disaster.

 

[sunilrhs]

one lesson that i don't seem to have learnt is about avoiding close SL's. I think that the close SL's were what prevented a bigger disaster.

They prevent the bigger move too....Anyways with simple EMA crossover method would have given you around 1000 points on BNF in july series..why u left behind....

 

[PartTime_Trader]

Hi

Do you use profit booking? if not just go through all your recent trades and check if how many points the script is moving in your favor after your entry . . .

In my trading i have realized my average gains for BNF is less than 40 points, and average of top 10-20 trades come to around 80-100 points, so if the scrip moves 80+ points in favor, there is no point letting it come back and hit the SL. With profit booking few times we miss bigger gains i.e. 200-300 points but getting this 80-100 in pocket is better for P&L and also for trading confidence.

Cheers

 

[augubhai]

no trades yet. will follow range breakout for nf, though I had second thoughts about it.

for bnf, i have thought up the following rules, which are more like guidelines

0. MAKE MONEY
The objective is to stick to rule 0. If not able to follow rule 0,

then rule 1 and 2 will save me. None of the other rules are

important...

1. Trade only 1 lot
2. Initial SL - 20 pts

3. Stay with the trend (mostly)
4. Stay with the trend, but trail SL
5. Delay entries when rangebound
6. Take contra trades with tight SL, when I get the "feeling"
7. After 50-85 points, look for the door
8. Re-enter if move resumes
9. No indicators. Just Price and Volume on multiple timeframes. At max, maybe some MA.

 

[augubhai]

long bnf 10340

 

[augubhai]

nf long at 5170