Invictus Trading Diary

[Invictus]

NIFTY LONG at 10045, 2 lots

Nice bull run. Exited all at 10100.
Profit = 8175

 

[Invictus]

BANKNIFTY also gave a good 200 points run post breakout. But I did not take the LONG in banknifty. The real reason is- "From morning NIFTY was appearing bullish, but banknifty was range bound. NIFTY has failed once 10050 before the breakout and BANKNIFTY failed near 24160. So if this final breakout is going to fail, then instead of loosing on 2 long trades, its better to just carry one. So I went with NIFTY which was bullish since morning." But this is wrong, I need to trade each scrip independent of each other and should take all the trades unbiased.

Plus the exit on NIFTY long was not as per the rule. I just exited as I was holding on to a big unrealized profit and was getting uncomfortable.

To manage trading we have a trading system. But to manage our emotion do we have any ??

 

[Subhadip]

NIFTY LONG at 10045, 2 lots

Nice bull run. Exited all at 10100.
Profit = 8175

Excellent trades..

Just one suggestion, some time please see 5 min and 15 min chart also...

 

[Nikhil Dogra]

To manage trading we have a trading system. But to manage our emotion do we have any ??

Trade using bank nifty/nifty options , apply your trading system on option charts

 

[Invictus]

Excellent trades..

Just one suggestion, some time please see 5 min and 15 min chart also...

I am using 15m charts for marking support and resistance zones. They are providing the market structure for 1m trading.

 

[Invictus]

Trade using bank nifty/nifty options , apply your trading system on option charts

I had thought of this before.. But one question whether to trade the options as per the future chart's entry/exit or use the option chart itself for trading ?

My plan is to first be thoroughly familiar with the execution of this system. After that might include more scrips and options as well.

 

[Nikhil Dogra]

I use nifty futures to daytrade options however i do write options systematically using "short only" trendfollowing signals on option charts themselves but only during last 6-7 trading session of the expiry month [Example for this month - 19th to 26th Oct]

 

[Invictus]

BANKNIFTY long 1 lot at 24478, above 1st 1m bar high.

Entry 24478, Exit 24521. Profit = 1720

 

[Invictus]

Strong 50 points rally in NIFTY as well.. But no retracement to enter long and capitalize on the same..

 

[Invictus]

2nd LONG in BANKNIFTY. I missed this trade of 90 points for my mistake. With a typo I sold the future instead of buying. Though I squared off the short quickly for some small loss, but after that could not re-enter LONG.