{My Trading diary}

[VaibhavPRO]

Hi guys i m a day trader and mostly i trade in NIFTY futures and options.I am starting this thread to record all my trades here. I feel recording them gonna help me analyze them better. Any one is welcome to comment on my trades , I m ready to take a beating from fellow members whenever required .

I will be starting fresh with a capital of Rs. 1 lakh. I have decided i m gonna quit day trading if the capital falls to 50k.

Money management is one of the important aspect for me. I m gonna layout some ground rules for my self.

1. Never trading with more than 1 lot of NF or 1 naked option or any 1 option pair trade.
2. Whenever 2 consecutive trades hit stoploss then close for the day
3. Never risk/loose more than 5 % of capital in one trade no matter what.

VAIBHAV

 

[VaibhavPRO]

I have used many systems. i have learned a lot from this great forum. I have realized that no system is perfect and one has to have good understanding of market together with a system to trade well. This understanding comes with experience and hard work.

I have recently developed interest in Ichimoku Cloud indicator and will be trading with it as the base. My trading style is not always fixed and i like to try different things as per the market scenario.

Anybody interested in Ichimoku cloud indicator may go thru this wonderful thread by lincon http://www.traderji.com/futures/30600-ichimoku-kinko-hyo-trading-system.html

 

[VaibhavPRO]

TRADE 1

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Today i did my 1st trade by using Ichimoku cloud.. After 5 days of green our market rested on daily kijun.. I expect this kijun to provide some resistance in short run... So i have Sold nifty future @ 5541 today.. also in 4 hour charts the price action has moved into the cloud and i expect some resistance... This gonna be a very short term trade as it is against the short term trend.. Will exit if tom market closes above the daily kijun value.. Immediate target is the bottom of the senkou cloud on 4 hour chart 5500 and will review the price action then.. Target in mind is atleast 5480 the tensen line on 4 hour charts.

 

[SwingKing]

Good initiative VaibahvPro.

My only concern is that you have started with a capital of 1 Lakh and trading entity worth 2.8 Lakh. That is, NF (50* 5500).

You are using 1.8 times leverage. Make sure to protect your capital well.

Good luck.

Tc

 

[VaibhavPRO]

Thanks a lot Swingking

Yes you are right.. Position sizing needs to be reconsidered. Specially when taking trades with Higher TF like i did... Will think about it after market hours.. I think Minifty would be a better option in such trades...

The 1st trade has moved against me.. My S/l would be breach of the Upper span of the senkou cloud on 4 hour TF.. Which at the moment is 5619 nifty spot.. In next 4 hour candle it would be around 5605.. Lets see

One more trade taken in Tatamotor using my own system in development ...

Bought 30 Tatamotors @ 1248.2

VAIBHAV

 

[VaibhavPRO]

Price touched the Tenken line on 4 hours chart which was my target... Nifty touched at 5511 so exited My NF @ 5502... Made 39 points... Gr8 start

 

[VaibhavPRO]

Here is the 4 hour chart of nifty showing the price touching tenkan

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One Imp thing i learned by this setup is that i could have waited for today morning to take the short position.. After 5 days of green some momentum would have been carried to today and atleast gap down was very improbable at start... Will keep it in mind...But still a good trade... Now will look to enter again on monday..May be will look for breach of the senkou cloud on 4 hour TF on either side for entry..

VAIBHAV

 

[VaibhavPRO]

I am also a Fan of the Stockhunter's ELH5 intraday strategy.
U can find it here http://www.traderji.com/technical-analysis/47382-shs-intraday-strategy-elh5.html

Though it is for Nifty Futures i like to trade with it on TATAMOTORS equity .. He states a 20 point target and s/l For TATAMOTORS i use Rs 9.. Today's long posted was according to it only. Here is the chart showing all the trades on TATA MOTORS i did today.

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Closed the shop after this

TODAY's REPORT
Nifty trade = +1940
TM Equity = +186
TOTAL PROFIT(afterbrokerage) = 2062

TOTAL CAPITAL NOW = 1,02,062

VAIBHAV

 

[VaibhavPRO]

Third Trade in TataMotors using ELH5 hits the target.. Too bad i decided to Close the shop early

 

[VaibhavPRO]

Went 1 Lot Minifty short @ 5447. The price action taking place just below the 4 Hour chart senkou cloud which will provide some resistance and is good enough to go short.1 hour chart also showing move to the top of the cloud at least before a reversal.

S/L = its gonna be Daily kijun the major resistance.(right nw @ 5518)
Target = 4 hour kijun @ 5395