Thanks to Timepass & TraderRavi for taking interest in the thread.
As I have mentioned before, this is not an intraday trading strategy. I first determine the trend on daily charts. If it up, then I wait for a correction on hourly charts and look for lower tops and bottoms. Thereafter, I buy on breakout of hourly swing. Same thing in reverse for taking short positions.
Some of the trades are also taken on breakout of daily chart swing. The stop losses are generally 2-3 % away on hourly charts and 3-5% on daily charts.
So far as loss of 40000 is concerned after netting a profit of 1,00,000, it is not very large since I am always prepared to suffer a drawdown of minimum 10% of the capital. Once I reach 10% loss, I tend to reduce my trading quantity to half. I refuse to change my strategy until 20% loss is suffered which has never happened with me in last so many years while trading this strategy.
However, future is something entirely different and anything can happen.
I am not running this thread to prove the defects of any intraday strategy but to prove that in order to manage a large amount of money, we need to trade at least on hourly charts in a diversified portfolio with both long and short positions. Sometimes, all the items give profit, at other times, all of them give loss but on most occasions, small and slow growth takes place. One month is a small time frame to conclude anything.
