Augubhai's notes - Smarts, Guts and Luck

[augubhai]

1. Long at 5520.99, out at 5523.25
2. Short at 5523.25, out at 5531.96
3. Long at 5541.65,

 

[augubhai]

1. Long at 5520.99, out at 5523.25
2. Short at 5523.25, out at 5531.96
3. Long at 5541.65, out at 5555.52
4. Short at 5552.52

 

[augubhai]

1. Long at 5520.99, out at 5523.25
2. Short at 5523.25, out at 5531.96
3. Long at 5541.65, out at 5555.52
4. Short at 5552.52, out at 5570
5. Long at 5570,

 

[augubhai]

1. Long at 5520.99, out at 5523.25
2. Short at 5523.25, out at 5531.96
3. Long at 5541.65, out at 5555.52
4. Short at 5552.52, out at 5570
5. Long at 5570, out at 5558.14

Done for the day

 

[augubhai]

 

[onlinegtrash]

1. Long at 5520.99, out at 5523.25
2. Short at 5523.25, out at 5531.96
3. Long at 5541.65, out at 5555.52
4. Short at 5552.52, out at 5570
5. Long at 5570, out at 5558.14

Done for the day

Augubhai... I have a suggestion on your trading style.
You are NOT trading expectancy, instead you are trading noise.

Last friday markets were over sold, you can expect bears booking their profits today.
Market is not continuing down from charts...
So a simple long and waiting till EOD has higher expectancy than all other trades!

Think this way, instead of buying entire haystack, you divide the haystack into multiple trades trying to find the needle. This is not high expectancy trading but noise trading!
Needless to say by dividing the haystack into 100 different trades you actual put the probability against you (i.e you have increased your search space, but there are only few upward moves you are chasing)!
(Ofcourse one should be smart enough to identify when to buy the haystack and when to scalp!)

 

[augubhai]

(Ofcourse one should be smart enough to identify when to buy the haystack and when to scalp!)

this is the problem.

 

[escape]

"That pin bar" is "Shooting Star" candlestick pattern.

 

[augubhai]

1. Long at 5588.6

 

[augubhai]

1. Long at 5588.6, out at 5622.11
2. Short at 5622.11,