Trading diary : Trying to become crorepati.

[Prabhjeet]

Friend how er u? Hope you are earning a lot now a days.

Best wishes to u:clapping:

Not a whole lot Dev but can say that the earning is worth the effort I am putting.

Frankly speaking I am not happy the way you are trading nowadays, looks like you have become more of a scalper. I know how you used to manage your position trades so well then why change style.

Looking Forward to your trades but not these cow-boy styled ones :clapping:

 

[Dev Mookerji]

Frankly speaking I am not happy the way you are trading nowadays, looks like you have become more of a scalper. I know how you used to manage your position trades so well then why change style.

Looking Forward to your trades but not these cow-boy styled ones :clapping:

:clapping:

 

[Dev Mookerji]

I know how you used to manage your position trades so well then why change style.

Looking Forward to your trades but not these cow-boy styled ones :clapping:

Agree.

Let me keeping out my scalp trades from this thread for now. Shall mention here my swing trades only, however time frame may vary.

 

[learn2trade_ar]

Agree.

Let me keeping out my scalp trades from this thread for now. Shall mention here my swing trades only, however time frame may vary.

Hello Dev sir, I wanted to send you a PM but then saw that I cannot send a PM. Still, not to get bowed down so easily, I'm going to write this PM here only but with little cooperation required from fellow TJ members.

Dear TJ members,
I kindly request you all to please close your eyes or turn your faces away from this message as soon as you finish reading this sentence ( immediately after encountering fullstop) , because I'm trying to write a PM to Dev sir and without your cooperation, this will never become a PM, it will just be left as any other normal message.

My PM starts
Hello Dev sir,
I've been following your trades for a long time. Somehow, I'm always getting this feeling that my style of trading is quite similar to the way you trade, though I dont stand at any level in front of you. I'm just learning bit about trading. till now have lost quite a bit. Can you please guide/help me out in bettering my trades?
Thanks in advance for the help. Please dont go by my whole drama about this PM. This was just to make our fellow members have a nice laugh. But, my request is genuine and if you're willing to handhold me in going further with trading, I'll be highly obliged. Desparetly want to take trading full time.

Awaiting you reply Dev sir.

Regards,
AR

My PM ends

 

[Dev Mookerji]

I've been following your trades for a long time. Somehow, I'm always getting this feeling that my style of trading is quite similar to the way you trade. though I dont stand at any level in front of you.

Dear friend,

Every successful trader is having his own trading system (automated or not so). Trading systems may be different, but the entry point SL and exiting points shall be same or nearby in any (successful) systems if u can check.

For example u simply check nifty chart(from 12 Mar 09) & compare with some simplest trading method like Moving average, channel/pattern breakout/down, Support/Resistence. Pivot breaking or even swing indicators. All have given long signals in similar time frames.

So a person can trade upon any of the simplest trading system. Problem occurs when someone patches one over another like trading pivot based and checking MAs or trading pattern breakouts and checking oscillators for overbought zones. In case of a breakout oscillators shall be already in a overbought zone.

The most important thing is selection of a SL what I believe than even managing your profits. I dont mind sitting my fingers crossed for days if i dont find any entry with a smaller SL, whether the trades may be looking lucrative. Market is full of opportunities, it is not going anywhere. Opportunities are bound to come in your doorsteps.

For example if you are trading for a positional trade and u wish to hold or carry forward your positions for days your SL can be around 5% or in case of months it can be around 10%. But in case of few hours or minutes it can't be likewise.

I am doing pivot based trading for years along with other methods, it is little different from Saints 60 min flow. I like this guy a lot. But for trading 60 min chart initial SL of a pivot of around 10 to 12% SL is not acceptable to me. But people are gaining money and happy. Thats why I wanted to say any system which makes money for you is successful system for you.

So check your own method again and again and make free your mindset and rigidity if you are having any error.

hope it helps

 

[Dev Mookerji]

Bought Mc Dowell 1 lot @ 755.

 

[Dev Mookerji]

Bought today Suzlon 60 Put @ 4/-

 

[Dev Mookerji]

Henceforth I shall try to give reason for my trades by attaching charts.

 

[Dev Mookerji]

My trade in Indiabulls. It was before any automated systems signal.

My automated system though I dont use it:lol:

 

[Dev Mookerji]

Bought today Suzlon 60 Put @ 4/-

Profit booking is a must. At present market conditions........

Booked @ 6.50