I am a complan boy

#21
Already setting up my trades for Monday.....very excited to see that Wipro has formed a near doji yesterday and a shooting star today....its going to be a good session on Monday...:clapping::clap::!

From the lack of comments, I assume that:

1) The experts dont have anything to add or correct....and my current trading strategy doesnt have too many flaws in it. Always looking forward to adding more indicators or pre-market TA tools to my kit... :rofl:

2) The beginners dont understand what the heck I am saying.....or my posts are completely lucid....:clap:
 

guptak03

Well-Known Member
#22
Already setting up my trades for Monday.....very excited to see that Wipro has formed a near doji yesterday and a shooting star today....its going to be a good session on Monday...:clapping::clap::!

From the lack of comments, I assume that:

1) The experts dont have anything to add or correct....and my current trading strategy doesnt have too many flaws in it. Always looking forward to adding more indicators or pre-market TA tools to my kit... :rofl:

2) The beginners dont understand what the heck I am saying.....or my posts are completely lucid....:clap:
Dont take much load on the charts it will crash :p
 

columbus

Well-Known Member
#24
Already setting up my trades for Monday.....very excited to see that Wipro has formed a near doji yesterday and a shooting star today....its going to be a good session on Monday..!

From the lack of comments, I assume that:

1) The experts dont have anything to add or correct....and my current trading strategy doesnt have too many flaws in it. Always looking forward to adding more indicators or pre-market TA tools to my kit..
2) The beginners dont understand what the heck I am saying.....or my posts are completely lucid...
Hi raasaa,

Your posts are lucid.
Here everybody is a student not even a teacher.(Expert is far cry)
You are doing very well and keep it up.
Remember your efforts will not go ,UNNOTICED.
It is true ,some people do not go candle by candle.
 
#25
Already setting up my trades for Monday.....very excited to see that Wipro has formed a near doji yesterday and a shooting star today....its going to be a good session on Monday...:clapping::clap::!

From the lack of comments, I assume that:

1) The experts dont have anything to add or correct....and my current trading strategy doesnt have too many flaws in it. Always looking forward to adding more indicators or pre-market TA tools to my kit... :rofl:

2) The beginners dont understand what the heck I am saying.....or my posts are completely lucid....:clap:


Gr8 work rassaa.. Thanx you
 
#26
thank you guys, much appreciated. Was just worried at the lack of symbiotic discussions I had hoped for.... :D

Another no trading day....just back from weekend holidaying....maybe after lunch :thumb:
 
#27
Took a 14% loss today, in two parts. The first bit of loss, -9%, was something I could not have predicted. It was one gut ripping candle that changed the landscape for that equity. The second bit of loss, for the remaining -5%, came amongst mild panic and cries of avenging the first bit of loss. :D

Traded in Reliance Capital, a NR7 candidate, with a short position below 308.




1) The price cut the NR7 sell target of 308, going a little below that. It was quite early in the day for this, so I decided to watch for a while before entering the trade. The MACD corresponding this candle was green, indicating a change in the momentum was coming....and RSI was quite close to 20.

After falling some more, to make a low of 305.50, the price moved up, breaking the 308 resistance line that I had created, until it reached 309.40. As per the NR7 strategy, an entry at 308 and exit at 306 would have worked, giving a 4% profit.

2) The upmove did not last long, since the NIFTY was dropping fast. The price came back down to form a support near 306. The MACD was slowing down and the RSI wasn't going anywhere. Decided to take a short position if the price cut 306. The price remained between the BB centre and bottom bands, suggesting a continued downtrend.

3) Took a short position at 305.90, with a stop loss at 309.50, which was just above the high made between 1 and 2. MACD and RSI were looking good, supporting a downtrend...and the NIFTY was falling like a ton of bricks.

4) Where the heck did that come from....OMG. It broke my stop loss and executed the order....and kept going up up and up to finally stop at 315. That candle made me curse in every known language....where did that come from. :annoyed::annoyed:

With the NIFTY going on a downtrend, I did not foresee this equity jumping up by 7 points in a single candle. Tanked a 9% loss in that, sending me reeling.

Given the NIFTY trend, I assumed this was an anomaly and the price would drop down again. Waited for a shorting opportunity when the price cut 311, which is the mid way point for the large green candle.

5) Price dropped down and cut my target of 311. Took a short position at 311 with a stop loss of 312. The price 312 was just above the candle at 5 and also the midway mark for the previous red candle.

The MACD and RSI looked to be happy. The EMA-2-high had gone outside the upper BB band and come back in....all indicators and NIFTY favouring another downtrend and short position. I should have waited for the price to cut the centre BB band before taking a short, but I guess I was impatient and little too hasty. I had set a target at 307, hoping to cover the previous loss and make a little profit for the day.

"On the road, speed kills.....in trading GREED KILLS" :rofl:

I should have made an exit at 309.30.....reducing my overall loss for the day. Even with the NIFTY dropping, this price was not going down and was resisting the trend quite a bit. This should have been signal enough for me to either exit or revise my stop loss to 315~316. I did neither and the stop loss of 312 was triggered by another feisty green candle, further increasing my loss for the day. :annoyed:

Ironically, just to spite me and rub salt on the wound, a few minutes later the price dropped down to 306, making me kick myself in the rear a dozen times.... :clapping:

Oh well, could have been worse and I managed to stay in net profit overall for this month....so :thumb::thumb:
 
#28
Lack of time to post detailed analysis of my trades for the last 2 days....

Yesterday was a bad with an overall loss of 2%...today was better, traded in BHEL to make a net profit of 14%...

Going to be a busy few days until Tuesday when I will resume posting chart details.

Also, BHEL is close to cutting the IB high of 320 on the day chart. It made a new 52wk low on 6th August and next two candles, though small, are signaling a change of trend. If it breaks 120, the next resistance is only at 129 and subsequently at 139. If it breaks all three, then it is going places and will start a strong bullish trend....keep watching BHEL over the next week
 
#29
Complan Boy no post showing in 2 days are you trade in 2 days give trade your post is valuable for me learn market and new strategies
 
#30
Complan Boy no post showing in 2 days are you trade in 2 days give trade your post is valuable for me learn market and new strategies
sorry vikas, but I am not trading until Tuesday, 20th August. A lot of traveling with friends with family....making full use of the long weekend coming up.

Also, I am currently trading in any and every equity that meets the NR7/NR21 criteria. I am currently working on reducing the number of equities that I watch, to just 10.....irrespective of whether they fall in the NR7/NR21 category.

So far I have shortlisted BHEL, Wipro and Yes Bank......still deciding on the others :D
 

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