My options trading diary----kiran_thiru

[kiran_thiru]

paper trade nifty
long closed 5861--profit--12 points
total loss--8 points
reason--10 points down from candle high

 

[kiran_thiru]

paper trade nifty
long @ 5865
tsl @ 5856

 

[kiran_thiru]

paper trade nifty
closed long @ 5857--tsl hit---loss--8 points
total loss--16 points

 

[kiran_thiru]

paper trade nifty
short @ 5854
tsl@ 5860

 

[kiran_thiru]

paper trade nifty
closed short 5860--tsl hit--loss--6 points
total loss--22 points

 

[kiran_thiru]

paper trade nifty chart

 

[Price Pattern Recognition]

Hi, K.K.K..Kiran, [That's SRK Style, ]

Your, system is a trend following system. It'll give good result in trending days. It'll not work in range bound days like today. You have to keep out of trading during such days.

If I have to use your system (in 5 min time frame), today was a non trading day bcoz of very close range bound patterns in higher time frames like 30 min charts.

It is difficult to find out range bound situations during trading but not impossible. You have to look out higher time frames and the market as a whole to anticipate range bound condition.

Don't blindly follow it all days (including range bound days). It'll not work in all market conditions.
It'll give you money in trending days. Just, try to Understand your system, when it is working and when it it is not.

With Best Wishes.
[Well Wisher]

 

[kiran_thiru]

Hi, K.K.K..Kiran, [That's SRK Style, ]

Your, system is a trend following system. It'll give good result in trending days. It'll not work in range bound days like today. You have to keep out of trading during such days.

If I have to use your system (in 5 min time frame), today was a non trading day bcoz of very close range bound patterns in higher time frames like 30 min charts.

It is difficult to find out range bound situations during trading but not impossible. You have to look out higher time frames and the market as a whole to anticipate range bound condition.

Don't blindly follow it all days (including range bound days). It'll not work in all market conditions.
It'll give you money in trending days. Just, try to Understand your system, when it is working and when it it is not.

With Best Wishes.
[Well Wisher]

thank you P.P.R.
yes it is difficult how to find range bound markets. but you may gain these times also you properly manage your tsl. i am working on this. so i do not consider whether it is range bound or not. i follow my chart with my fixed rules only.

 

[kiran_thiru]

in range bound market, we do not expect big profits. you must book profit or loss quickly with minimize them.

 

[Price Pattern Recognition]

Kiran bro, market is dynamic. It is very difficult to beat the market with fixed rules only in every situation.

In range bound days such type SAR system would generate lot of signals and at the end of the day most of the times, net brokerage paid is grater than net profit. I have tested and traded using such systems, so just shared my experience here.

Anyway, I am not discouraging you. You may find your own way to tackle the range bound days also with such system and fixed rules.

Best Wishes Again.