Seeing the 15min Chart as is.

[jamit_05]

Focus: Trade towards, primarily, protecting capital.

As i see that there is no way to by-pass accumulation of losses from bad trades, and only way to cover these losses is by bagging a good trade. Therefore, rule #1

Rule #1) Set exit of a trade to: Entry+Accumulated Losses+Accumulated Expenses+10 points



Once losses are capped, and there is no sting left in trading. Then comes the need to allow room for profits. Hence Rule#2

Rule #2) If accumulated loss is less than 20 points, then use trailing stop for exits.

If done correctly, this will open the possibility to get big days. Which is where a trader succeeds. Rest all is grunt-work.

Disclaimer to self: Any mistakes made in due process are to be borne by the trader's pocket, as system has no responsibility to cover them.

 

[jamit_05]

In backtesting, I have come across a group of days where there are way too many whipsaws that even a big day that follows is unable to make-up for it.

One modification that will take care of this issue is this:
Drawdown counter cannot be increased more than 5 times ATR of 15min. Anything more will be on the shoulders of the trader, and not the market.

 

[jamit_05]

Current Draw-Down: 0 NF points

 

[jamit_05]

Current Draw-Down: 35 NF points; News Volatility. Best to avoid it by keeping really far entry points.

 

[jamit_05]

Current Draw-Down: 35 NF points;

The draw down is more that 35, in reality. On two instances, I did not get the fill as I had kept the slippage as only 0.25 pt. Now, I have hiked that to 0.50 pt. One of which was an entry. And the other was SL. The latter hurt me dearly.

Todays, RBI news whipsaw set me back by 34 points. Whereas, i shouldve lost only 12.

Point being, I am sure the system will clear the 35 NF points loss and even the mistakes. Problem will start when I choose to not follow it.

 

[jamit_05]

Current Draw-Down: 35 NF points;

The draw down is more that 35, in reality. On two instances, I did not get the fill as I had kept the slippage as only 0.25 pt. Now, I have hiked that to 0.50 pt. One of which was an entry. And the other was SL. The latter hurt me dearly.

Todays, RBI news whipsaw set me back by 34 points. Whereas, i shouldve lost only 12.

Point being, I am sure the system will clear the 35 NF points loss and even the mistakes. Problem will start when I choose to not follow it.

As per the trades, all loss of today, including the big mistakes got covered by this move. Exit placed at 7765, entry at 7695.50;

However, the only problem is, once again I did not get a fill

I kept a 0.50 pt spread, still that wasn't enough. So, I guess now I should place a 1 point spread

 

[TraderRavi]

As per the trades, all loss of today, including the big mistakes got covered by this move. Exit placed at 7765, entry at 7695.50;

However, the only problem is, once again I did not get a fill

I kept a 0.50 pt spread, still that wasn't enough. So, I guess now I should place a 1 point spread

you took this long trade or not ?

 

[jamit_05]

you took this long trade or not ?

Nahi yaar... long rakha tha at 0.50 pt spread... but market was too fast to give me a fill.

 

[TraderRavi]

Nahi yaar... long rakha tha at 0.50 pt spread... but market was too fast to give me a fill.

actually I got confused by the first line "all loss of today, including the big mistakes got covered by this move".

 

[jamit_05]

actually I got confused by the first line "all loss of today, including the big mistakes got covered by this move".

I have laid down a simple set of rules and am trading only one lot. This exercise is only to prove, mostly to myself, that the rules work.

Last two trading days were twisted, yet the system cleared all loss. No drawdown by EOD.