Invictus Trading Diary

[Invictus]

Just 3 trades today in the morning, with all three scratched to breakeven. No profitable trades today. The circle area on BNF chart shows the SHORT trade area as per my system But I did not find courage to trade SHORT there after the big fall. So I missed it. Same thing happend with NIFTY as well. Now I regret the decision..

 

[manojborle]

Please backtest your system and you will know how many losers at a stretch can be expected with it. This does give confidence to take trades without hesitation.
Remember your method is trend following so the whipsaws may come but the losses will be small compared to the winner which is coming next. With backtest you will be able to know all other required parameters and make small adjustments accordingly.

 

[Invictus]

Please backtest your system and you will know how many losers at a stretch can be expected with it. This does give confidence to take trades without hesitation.
Remember your method is trend following so the whipsaws may come but the losses will be small compared to the winner which is coming next. With backtest you will be able to know all other required parameters and make small adjustments accordingly.

How many months or years of backtesting will be good atleast to trade a system confidently ?
I have just started testing and simultaneously trading live this rainbow system with small risk.

 

[manojborle]

As we are trading intraday in lower time frames I think 6 months to 1 year of data is more than enough. It will cover all types of days which we are going to encounter when we live test forward. This is my opinion though, seniors here would be able to answer better.

 

[Raj232]

Just 3 trades today in the morning, with all three scratched to breakeven. No profitable trades today. The circle area on BNF chart shows the SHORT trade area as per my system But I did not find courage to trade SHORT there after the big fall. So I missed it. Same thing happend with NIFTY as well. Now I regret the decision..

Good updates. Keep it up !!
Your system had given a clear signal for a short trade, it would have been the best trade of the day.. or maybe week !!

 

[PUCHU_2500]

1. Clean chart
2. clear setup
3. clear entry/exit marking
4. clear explanation
Nice, very nice......I visit this thread regularly......keep it updates regularly......Thanks

 

[Invictus]

Good updates. Keep it up !!
Your system had given a clear signal for a short trade, it would have been the best trade of the day.. or maybe week !!

Yes definitely it was a great trade. Same was in NIFTY too. But in both case my fear was a quick reversal after a sharp fall, and how much more price might fall intraday.. So I hesitated taking SHORT there. But now I understand that when two weak bounce and lower tops has formed this is probably showing acceptance of the break below support. So a short trade could have been taken.. Anyway its gone..need to move on.

 

[Invictus]

LONG entry in NIFTY at 9:36 am at 10015 is missed for not able to punch order through NEST server issue.

NBow the issue seems to be resolved. Back to trading

 

[Invictus]

I missed this setup.
Now both NIFTY and BANKNIFTY are in consolidation mode. Need to wait for next clear setup to form.

 

[Invictus]

LONG NIFTY at 10043.2, 3 lots.

Trade did not work out, exit at breakeven
Entry 10043.2, 3 lots, Exit at 10043.95, Profit = 168.75