BankNifty Trading Calls Diary

#21
Will Post my daily profit and loss for now onwards

Yesterday
Total loosing banknifty trades - 1
Wining banknifty trade - 0
Total loss - 519
Reason - Guess trading

09/02/11

Wining banknifty trade - 1
Total Profit - 100
Entry - As per system

loosing banknifty trade - 1
Total Loss - 1100
Entry - Guess

Wining NIFTY trade - 1
Total Profit - 500
Entry - As per system

Total Money in account at start 41000
Total money today 39989
what is ur system my dear....:)
 
#22
Lost another 1500 rs today. So time since i started trading i was always in red.

Started with 41000

total remaining today is 37500

Loss of 3500

Reason - Very scared of taking losses. all my trades gone against me intially so i exit my positions but later all has given huge profit. Need to change my approach.
 
#23
trade for 22/2/2011

Tatasteel:-
Today there is formed a Doji with long tail. So tomorrow Tatasteel will go positive after open.

Levels to watch

637
633
626
For Sell consider the above as target with stop loss of 648.50.

If stop loss hit will reverse the position.
 
#24
trade for 22/2/2011

Tatasteel:-
Today there is formed a Doji with long tail. So tomorrow Tatasteel will go positive after open.

Levels to watch

637
633
626
For Sell consider the above as target with stop loss of 648.50.

If stop loss hit will reverse the position.
Dear member,
Please note that it is not clear. For tatasteel, we should go long or short?
 
#25
Tomorrow i will go short in tatasteel by keeping the above levels in mind. so if tatasteel open above 637 i will go short at 637 with stop loss of 644. if stop loss hit then will go long at 648.50.
 
Last edited:
#26
Not taken any single position in tatasteel as it opens very low.

Thought of going short at 626.5 but as i am not able to be there all the time thought that it will be risky.

So may be tomorrow i will enter.

For bank nifty i am thinking of entering at day close and then close the position next day. Lets see what happens.

Will update the levels for tomorrow after market hours.
 

4xpipcounter

Well-Known Member
#28
so11y, if you don't mind, I'd like to jump in and lend a view.

Cluster S is 618.02. I favor it to be broken as the market heads to 607.83. 633.36 looks solid on the upside.
Just by those parameters, the market is getting the squeeze put on it.


Not taken any single position in tatasteel as it opens very low.

Thought of going short at 626.5 but as i am not able to be there all the time thought that it will be risky.

So may be tomorrow i will enter.

For bank nifty i am thinking of entering at day close and then close the position next day. Lets see what happens.

Will update the levels for tomorrow after market hours.
 
#29
Not taken any single position in tatasteel as it opens very low.

Thought of going short at 626.5 but as i am not able to be there all the time thought that it will be risky.

So may be tomorrow i will enter.

For bank nifty i am thinking of entering at day close and then close the position next day. Lets see what happens.

Will update the levels for tomorrow after market hours.
Thinking and doing makes lots of difference. I think but i do not do thats a problem with me.
 

4xpipcounter

Well-Known Member
#30
s011y, Let me offer something that may be of help.
Developing and acting on a methodology is all a process. First you develop one, and then practice on a demo. After it is a proven winner on a demo, then work on margining skills in order to preserve capital, but maximize profits.
Up to this point, I will assume you have done that, because if you have not, then you need to get to square 1 before considering using live money.
Afterward comes the emotional or mental part of trading. Your methodology has been developed, you know you got the best thing going, but some how, it does not work with real money. This is quite common.
One way that part of the segment is counteracted is by margining or placing less on the trade than what you feel you need to do. I've noticed in your previous posts you have lost circa 10% of your capital. You might would be singing a different song if you lost only 2% (as an example). Also, if you did not see so much capital at one time going negative, you might would have been more patient with your positions. You also have the leverage to have wider stops, so it will take out possibilities of getting spiked out of a trade.
That one element can lead you to being more relaxed with your trading, and more objectively view the markets. Once you have won consistently with live money using that scenario, then you can increase how much you risk on each trade. For now, it is not important how much money you make, as it is to see and vision yourself as being a consistent winner.


Thinking and doing makes lots of difference. I think but i do not do thats a problem with me.
 

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