Trading The Bars Part 2

[SavantGarde]

Re: Trading The Bars

SG,

Just out of curiosity, do you maintain a trade journal for intraday/positional trades?

Even if a trade lasts just a few minutes, do you put that into the record?

I am asking because I have always wanted to make a trading journal. Although I do maintain it sometimes, but mostly I ignore it out of laziness!

Your thoughts please.

Hi Anay....Trading records is very very important.... they are what I call the Silent Gurus that speak back to you without human prejudice..... Just a glance will tell you what is working & what isnt.....and How are you performing during certain periods....tons of stuff it can tell you....!!!

Yes.... I do maintain a Trading Journal...at the moment I update it once a week....!!!

SG

 

[Sunny1]

Re: Trading The Bars

Hundred and one trades a day ....all profitable....that's quite a task...
Seriously How did you manage..

When I started trading ...I had in mind I would do such things...( Hope some day I will )

 

[SavantGarde]

Re: Trading The Bars

SG

 

[SavantGarde]

Re: Trading The Bars

SG

 

[SavantGarde]

Re: Trading The Bars

sir pls dont mind,but since i too trade crude i am asking this , you bought crude on 29 may @ 90 odd levels, and exited today @ 91 odd levels for $1000 profit. After your purchase crude went down to 75 odd levels. My guess is you would have been down atleast $15000 on a single trade, and you were long many such trades.
My query is:
-whats was the stop loss for this trade, or you planned to hold the trade untill it came to positive,and if it is true you should have had a strong conviction to beleive that crude will bounce back.what is that convition???
-would you recommed such a strategy to others because if one trade doesnt turn back in your favour, a trader might end up in the road.

This is just an observation from your trade records, i am not aware if you had hedged these trades...

Regards.

Hi Rajesh,

While a few Trades like the one you described does become a Buy & Hold, only saving grace being Position sizing.....which will allow your position to come back in Profit.....!!!

For all my open trades...I do not have more than 1-2% of Capital blocked across all open trades... and open positions do not deter me from Trading on smaller TFs....because all the profit made on smaller TFs just adds to the margin of safety for the overall account...!!!

Money Management (Position Sizing) is extremely, extremely important towards not blowing up an Account...!!!

Whereas, your other query about knowing whether things will get back above my entry....that I have no doubt....and is something I am always mindful of before Trading....!!!

For instance, I have been keeping a close watch on USD/JPY pair.... moment it breaks below 78, I will start accumulating and actively Trading the pair....knowing Market Structure is also equally important....!!!

Let us take our Indian Markets....at the moment Market Structure is such, that we will eventually see +6000 on NF......with that kind of view ....I would like to start accumulating from a point where I dont see more than 250-300 point downside....!!!

SG

 

[SavantGarde]

Re: Trading The Bars

Incidentally, wanted to keep the Trades open till about 95-97.... but the few guys who are copying the Trades through Read Only Password....decided to exit...hence there was no reason for me to keep the Trades open....!!!

SG

 

[SavantGarde]

Re: Trading The Bars

Thankyou sir,

Thats why are succesful in trading, by being unconventional, while conventional trading says always use stop loss,
thats were most like me loose money, even though the calls are right, the targets do reach but not before prices hitting the stoploss.But how do one get a idea of the market structure , is it by fundamental analysis or knowing the macro economic situation of a country or can one get a fair view of the market structure from charts?

Another query is you mentioned about trading usd/jpy pair, i beleive you will trade this pair on the short side, am i right??

Regards.

Market Structure - Okay since you were analysing Crude trade....What was known and established facts borne out by the past.... Trading in Crude is usually carried out OPEC nations.....and non-OPEC oil producing countries....they always see to protecting the 75 mark and then any hint of improvement in economy and Crude blasts off..... like you see presently.... then moment chatter about high prices of Crude becomes deafening they will promptly start dropping till the chatter dies down....this is what happens normally with Crude....!!!

USD/JPY at the moment is in no Trade zone as far as I am concerned....but it will perhaps make a sharp drop in the near future.... and that is the time I plan to enter Longs..... because there is a only certain amount the BOJ will allow it to go down...before intervening.....when it does go up very sharply because of the intervention....I shall look to exit the Longs and initiate a Short till the Sharp rise is absorbed....anyways, keep an eye on when this Trade happens.... though there is still time....!!!

Similarly, every other Commodity have their story as to when they go up and when they go down....We should be able to interpret the reasons behind the move correctly.... !!!

SG

 

[SavantGarde]

Re: Trading The Bars

SG

 

[gambler]

Re: Trading The Bars

Apna bhi ek teer chal gaya....:thumb:

 

[SavantGarde]

Re: Trading The Bars

Now..that you did very well with the trade.....wait for U.S. markets to open....because Crude can move up with a vengeance....presently it is the EURO strength that has pulled things down including Dow Futures...!!!

SG