2014-Determined to do it

[The Monk.]

TRADE LOG

 

[The Monk.]

Todays trade Short @ 6320.

Covered @ 6315 as market seems to lacking downward momemtum.

 

[The Monk.]

Todays scalp trade, lack of confidence made me go in with a single lot , but somehow it worked out fine.

 

[The Monk.]

Today was a brokers day , was positioning myself for that upside breakout , but market was too choppy to hold on to the positions, ultimately nifty takes off without you. Damm.

 

[The Monk.]

Today was a decent day, managed to scalp the morning fall, markets turned choppy in the afternoon , lucky to have avoided been chopped.

TRADE TRACKER

 

[manishchan]

Monk : You have been doing really good. Looks like you trade very selectively like 1/2 entries. What strategy do you follow if you can share ?

Today was a decent day, managed to scalp the morning fall, markets turned choppy in the afternoon , lucky to have avoided been chopped.

TRADE TRACKER

 

[The Monk.]

Monk : You have been doing really good. Looks like you trade very selectively like 1/2 entries. What strategy do you follow if you can share ?

I trade on a discretionary basis , with a very complex set of rules , that it is even confusing for me to apply it everyday .I am trying to put these rules in an orderly manner like in a flowchart , so that your thought process could be streamlined and you dont miss any critical points you should consider before initiating a trade. The only TA tool which i use are Lines, both Horizontal & Vertical and initiate trade between these levels.

Trend ,overbought -oversold , News, how asian markets perform in the morning before our market opens , are other factors i consider while arriving at bullish or bearish bias.

Regarding my entry -exits i am still experimenting as to whether i should scale in-scale out etc.

If possible i will put out todays trade chart later and my taught process that led to this trade.

I repeat that my method will not work for those who take trades in a mechanical manner , as it takes into account various elements , that it is difficult and confusing to apply into everyday markets in an orderly manner.

 

[manishchan]

Thanks for the detailed response Monk. We would love to hear and know your rules/reasons. Please do share in your free time

I trade on a discretionary basis , with a very complex set of rules , that it is even confusing for me to apply it everyday .I am trying to put these rules in an orderly manner like in a flowchart , so that your thought process could be streamlined and you dont miss any critical points you should consider before initiating a trade. The only TA tool which i use are Lines, both Horizontal & Vertical and initiate trade between these levels.

Trend ,overbought -oversold , News, how asian markets perform in the morning before our market opens , are other factors i consider while arriving at bullish or bearish bias.

Regarding my entry -exits i am still experimenting as to whether i should scale in-scale out etc.

If possible i will put out todays trade chart later and my taught process that led to this trade.

I repeat that my method will not work for those who take trades in a mechanical manner , as it takes into account various elements , that it is difficult and confusing to apply into everyday markets in an orderly manner.

 

[The Monk.]

Taking a positional Long Trade.

Long 150 NF @ 6328

 

[silenthelper]

Taking a positional Long Trade.

Long 150 NF @ 6328

Don't panic....good buy........6240.....sl laga k aagey baro.......if break 6200.....then sold 300 NF.....tgt will be 6050.....be care of upcoming events....:thumb: