My trading journal

[iyerboi]

Its been 5.5 months since i started trading. Total amount invested till date - 25,000. Ledger balance as of today 10,750. Well, the past is past. So now, I've decided to start afresh and maintain my trading journal here.

After analysing my trades over the last couple of months, i've taken stock of my mistakes. The idea now is to not repeat them anymore. If i lose the balance as well, maybe i'll quit day trading for good. Lets see what future has in store for me.

Jai shri ram!

 

[TraderRavi]

Best of wishes for your trading babbu......Is ledger ka dhyan rakhna ...Ab is 10750 se hi 25000 bana.....dheere dheere........:thumb:

 

[s011y]

You will definetly

 

[kingnemo]

Best of luck Buddy

 

[ryan4ucar]

Its been 5.5 months since i started trading. Total amount invested till date - 25,000. Ledger balance as of today 10,750. Well, the past is past. So now, I've decided to start afresh and maintain my trading journal here.

After analysing my trades over the last couple of months, i've taken stock of my mistakes. The idea now is to not repeat them anymore. If i lose the balance as well, maybe i'll quit day trading for good. Lets see what future has in store for me.

Jai shri ram!

Start by putting a detail plan about what you want to do , write it clearly with the smallest possible detail , dont know your time frames but what ever they are , think of trades as patterns that you would like to trade and keep findings those pattterns and trade them , but to do all this you need to have screen time , so if you have 10 k in your account set a daily stop loss of say 1 or 2% of account so for now you canafford to loose 100 or 200 rs per day for intraday trading or per trade if swing if this is hit you stop for day or week (week for swing trading), this will ensure when ur accont decreases you are trading small and if your trading well your trading size will automatically increase , just my 2 cents , best of luck for your trading.

 

[iyerboi]

My Rules - these have been devised based from the BIG loss instances:

1/ READY TO TRADE: No impulsive trade calls. Do not run after a trade.

2/ STOP-LOSS: Max loss per day to be Rs.380. No trading if this limit is hit.

3/ OVERTRADING: Not more than 2 positions to be taken per day.

4/ CUT-OFF: No trades to be initiated before 9.30 AM and after 2 PM.

5/ SQUARE-OFF: All trades to be squared off by EOD.





.....to be updated as and when I can think of more.

 

[ryan4ucar]

My Rules - these have been devised based from the BIG loss instances:

1/ READY TO TRADE: No impulsive trade calls. Do not run after a trade.

2/ STOP-LOSS: Max loss per day to be Rs.380. No trading if this limit is hit.

3/ OVERTRADING: Not more than 2 positions to be taken per day.

4/ CUT-OFF: No trades to be initiated before 9.30 AM and after 2 PM.

5/ SQUARE-OFF: All trades to be squared off by EOD.





.....to be updated as and when I can think of more.

like rule one , rule 3 is not overtrading , overtrading is when you put on a position just for the sake of it ,rule 4 is good but y 2 it shuld be atleast 3 , after 3 most intrday traders are booking profits so stocks reverse , after 1 european markets open so nifty could reverse betwaan 9.15 and 10 things profit taking , or stcks are driven higher so that they can be sold of after 10 its momentum trading between 9.15 to 10 , you have to know all these general patterns.

 

[TraderRavi]

My Rules - these have been devised based from the BIG loss instances:

3/ OVERTRADING: Not more than 2 positions to be taken per day.

.....to be updated as and when I can think of more.

is it not more than 2 trade at a time or max. 2 trade per day..??

 

[iyerboi]

is it not more than 2 trade at a time or max. 2 trade per day..??

a day. because ive had 2-3 profit trades and the greed trade kills it all.

 

[chetanbang]

first you should have a system for entry and exit, the system should be based on charts. i myself am learning brooks price action since a year, still not feeling confident, they say it takes years of practice to be profitable.