Me too Trying to Become CrorePati

[Sunny1]

In order to correct the said thing, you need to optimize your Risk/Reward Ratio. Reducing trading amount will not help in any aspect for the said thing (http://www.traderji.com/trading-diary/29621-me-too-trying-become-crorepati-6.html#post331945) .
So research in optimization RR Ratio in your strategy.

Best Wishes.

Hi TFL,
Don't you think that my risk to reward ratio has improved from my past 6 trades. Like say if I have used my full margin in ABAN and Tata power my maximum loss would be 134 and 110 respectively but while using my full margin in Dlf and tata steel trades my profit is 480 and 360.

second thing there are 4 winning and 2 loosing trades from last 6.
Please comment if I am missing something.


Other thing there is mistake in my capital status. I think its 8500+. I will confirm and let you know. actually today I updated my pass book and there capital status is 8746.47

 

[Sunny1]

Hi .
swing trading update. In previous post I mention that I will use 13 period ema. but after experimenting bit more I left that idea. Now I will use 21 period EMa for main trend and 8 period EMA along with MFI & stochastic to analyze peaks and troughs . Thanks.

 

[Mangafreakz]

I might be wrong , but I think one thing you can do to reduce your losses , is to prevent overtrading. For example the Last days trades , once you are achieving a pre determined target of lets say 0.5-1% profit on your capital , you can stop trading for the day , because the more one is trading , the more are the chances of getting a loss trade.

 

[Mangafreakz]

Btw Sunny Sir , I was browsing through the thread - trading with Crossover and BB , saw a post of yours with a chart. Did u get the Chart from CanMoney's terminal or you are subscribing to any other charts services ?
Thanks.

 

[Sunny1]

Btw Sunny Sir , I was browsing through the thread - trading with Crossover and BB , saw a post of yours with a chart. Did u get the Chart from CanMoney's terminal or you are subscribing to any other charts services ?
Thanks.

chart is from amibroker.

Btw My target is to earn Rs.500- Rs.1000

 

[Mangafreakz]

chart is from amibroker.

Btw My target is to earn Rs.500- Rs.1000

So you are using the realtime feed from the Canmoney terminal to Amibroker for charting or from sites like TrueDataIndia , Esignal, etc?
Also post your MiniNifty trade if u start trading in it. Will be eager to see.

 

[Sunny1]

so you are using the realtime feed from the canmoney terminal to amibroker for charting or from sites like truedataindia , esignal, etc?
Also post your mininifty trade if u start trading in it. will be eager to see.

i am using chartsdata for feeds. Not yet started minifty trades as i dont have data for that.

 

[AW10]

Hi .
swing trading update. In previous post I mention that I will use 13 period ema. but after experimenting bit more I left that idea. Now I will use 21 period EMa for main trend and 8 period EMA along with MFI & stochastic to analyze peaks and troughs . Thanks.

Sunny, Have u backtested your entry / exit / stop rules. If not, then my suggestion will be to please backtest or paper trade them for sometime and see if your rules are really working on paper or not. And if they don't work with paper money, then what makes you think that they will work with real money. In that way, atleast you will protect your capital and learn.

Foundation of successful trading is having a system with +ive expectancy.
Expectancy is give by = (%of winning trades * avrg profit) - (%of loosing trade*avrg loss).
So, if you have consitent set of rules, and u can identify trades following those rules, keep a log of them then after 30 to 40 trades, u can very well get to know if your system is giving u +ive expectancy or not.

Dear, I have been thru all this. and have seen many traders getting lost in mumbo-jumbo of Technical analysis / indicators / patterns etc.. but that is just a small part of trading.
Hope this helps

Happy Trading

 

[Sunny1]

yES AW10. I DO HAVE BACKTESTED IT. AND GETTING A GOOD RESULTS.NOW LET ME KNOW HOW PRACTICALLY IT IS WORKING. STRATEGY IS SIMPLE ENTER WHEN PRICE IS ABOVE 21 PERIOD WMA AND EXIT WHEN IT COME BELOW THAT

 

[Mangafreakz]

How was your trade today mate with the new method you mentioned in your above post ? I will paper trade your method also.