Manoj's Trading Diary

[manojborle]

JUBILIANT FOODWORKS

THIS TRADE IS SHORT TERM & AGAINST THE MAIN TREND WHICH IS BULLISH, SO WE MIGHT GET A HIGH PROBABILITY LOW RISK ENTRY WHEN 2ND LEG DOWN IS OVER NEAR EMA'S.

KEEP WATCHING THIS STOCK

 

[manojborle]

 

[amitrandive]

Name of the Stock ?

Tata Coffee?
One suggestion , please post name of the stock on the chart

 

[manojborle]

name of the stock ?

Tata coffee?

yes its tata coffee.

 

[amitrandive]

Giving another perspective on TataCoffee.

 

[manojborle]

Today I will use Zerodha Bracket order and see if that can help me control my emotions.
I am expecting Nifty future to trade below 7510 within 2 hours and then I will start searching for my long entry If it is there, otherwise will see If I can short.

Till then no trades and just wait & watch

 

[manojborle]

I used bracket order in following steps.
1. as explained on their blog, i placed a buy limit order @ 7525, but my order got executed @ 7522 . :annoyed: got terrified

2. As explained, I am using stop loss of 500 ticks and profit of 2000 ticks and trailing stop of 100 ticks.

So as per this when nf went to 7527, my stop loss got revised to 7502 from 7497. This is okay I understood this.
So for every 5 points up move in nifty my stop loss will also increase by 5 points.

What should i do to avoid my order getting executed before I want ?

Please help..

 

[amitrandive]

I used bracket order in following steps.
1. as explained on their blog, i placed a buy limit order @ 7525, but my order got executed @ 7522 . :annoyed: got terrified

2. As explained, I am using stop loss of 500 ticks and profit of 2000 ticks and trailing stop of 100 ticks.

So as per this when nf went to 7527, my stop loss got revised to 7502 from 7497. This is okay I understood this.
So for every 5 points up move in nifty my stop loss will also increase by 5 points.

What should i do to avoid my order getting executed before I want ?

Please help..

Manoj

You can directly ask Zerodha for this at their thread

http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-375.html#post975463

 

[manojborle]

Trailing Stop hit @ 7539.9, out automatically for profit of 17.9 points . :clap::clap::clap:
Good this will help me control my emotions.

Nf made a high of 7570 so I have to work on trailing stop so that it trails more closely.

 

[manojborle]

ZT was disconnected for some time and after that Bracket order was not working.
So I used normal MIS order and did some really scalping type of trades which had eaten my profits.

I am really disappointed with today's trades, a very good trading day turned into breakeven day I suppose.

NOTE: I must control my habit of overtrading as I have written in plan I should stick with number of trades per day or if profit target is done, stay out of market until I get a very high probability setup.