Going with the Intraday Mini-Flow!!

[kapil123]

Saint,

Thanks for sharing the trades on where the things were not adhered to as per plan.

 

[vpsarathy]

Saint,

I traded JPA. SL was not hit. Made loss. I asked you a question at 10.06am. Didnot bet an answer. Will u answer now pl?
The question was---

"JPA futures. Entered long at 140.85 SL 136.9- 2 = 134.9 yesterdays PL. All in paper trade. Am I right?Pl reply"

Was I right? Where did I go wrong ? Pl correct me

vps

 

[segul]

Thanks Saint,

U are not only a good trader but a real good risk manager.
great to have u around.

regards,
aditya.

 

[Saint]

Saint,

I traded JPA. SL was not hit. Made loss. I asked you a question at 10.06am. Didnot bet an answer. Will u answer now pl?
The question was---

"JPA futures. Entered long at 140.85 SL 136.9- 2 = 134.9 yesterdays PL. All in paper trade. Am I right?Pl reply"

Was I right? Where did I go wrong ? Pl correct me

vps

No reversal to longs yet,VP,inJPA....still a short.

Saint

 

[vpsarathy]

No reversal to longs yet,VP,inJPA....still a short.

Saint

Thanks a million Saint.

vps

 

[starsenthil]

thank. doday i registerd rere. i will follow this thread.

 

[gunavadhi]

great thread by you sir.

 

[vpsarathy]

I am posing this question to seniors. Donot want to bother Saint.

Today I was entering JPA futures for the first time. Should I have entered short or long at what price? Pl see first 2 bars in 10 min chart and explain to me.
Thanks for your time.
vps

 

[milkyblack]

I am posing this question to seniors. Donot want to bother Saint.

Today I was entering JPA futures for the first time. Should I have entered short or long at what price? Pl see first 2 bars in 10 min chart and explain to me.
Thanks for your time.
vps

First of all... looking at the 1st 2 bars nothing can be said... as it was a usual opening... not a gap opening...
If trading just based on 10 min... only 1 trade for the day... SHORT... 140-... SL 142.35+
Trail SL 142.25+
Next Trail SL 140+

Cover near days close... 136 around!

If trading keeping in mind... 60 min TF... no need to think about longs... just SHORT...
Trade same as above...

Different ways to day trade... based on 10 min itself... just mentioned the simplest way... but need patience... as you can see after touching a low of 138 it moved up! That time one might make mistakes... if impatient!

Anyway do a back test... see for yourself how the stock moves.... if comfortable with it... make a plan... and trade that plan... come what ever may!

Regards

 

[alokdaga]

Today was a Bad Day.......was it a bad day in terms of monetary loss....not at all.It was a bad day because:

a.Did not follow the original plan and missed an entry earlier on in the day(Thanx to something that cropped up at 10am)....

b.Entry long was great....stop loss was great....Did I position size accordingly?Yes.Did I obey my stops?Yes.....

----TRADE 1:Stop loss triggerred,loss of 13.8k....good trade as plan adhered to.

----TRADE 2:Good entry,all adhered to.....But took stops and exited at 4010.Exit plan of stops or profits not adhered to.....BAD Trade,although made a profit of 1.5k

-----TRADE 3:Tried to correct TRADE 2.....good entry,yet again,covered at 4014....Yet again,plan not adhered to....BAD TRADE...loss of -1.2k.

------TRADE 4:Went long ??????Nothing in the Plan to have gone long there......Yet another BAD TRADE.......gain of 4.6k.

------TRADE 5:Correcting all the nonsense,good reentry back in shorts and made some gains back....GOOD TRADE...gain of +7.6k

Saint

ps:I am going to share my good days and my bad days..........I had said once that you are not to follow what I am doing for now......and as for posting,things moved too fast.Sometimes you can learn more from my foolhardiness than my advice.....today is an example of the above.

Tomorrow is a new day though!

Only brave and courageous accept that they did wrong !!!