LONE WOLF's Trading Diary

LoneWolf

Well-Known Member
Date : 6 Dec 2016

Three trades on tuesday. Out of two are not as per the setup. The 1st trade was taken agaisnt the traidng bias, and second was a no-mind trade after scratching the 1st no-setup trade, immediately reversed the direction and took the trade in opposite direction even if there was no signal present to take a trade. Lost on both these trade. 3rd trade was in minor profit. Closed the day early.

Net P/L for the day = -1.1R
Net P/L for the Dec 2016 = -0.3R

Date : 07 Dec 2016

I was not trading yesterday for some personal work
 

LoneWolf

Well-Known Member
Date : 8 Dec 2016

Traded just 1 stock, one LONG trade on TATASTEEL.
Did not track all the stocks as my trading time was limited for personal work, and also it was difficult to focus amid all the family duties. Luckily TATASTEEL gave a good upmove. Recovered the LOSS, and now standing on a profit of 0.8R.

Date : 09 Dec 2016

No Trade again for personal work.

Hopefully from this week onwards, trading and journaling will become regular.
 

LoneWolf

Well-Known Member
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..
 

monkeybusiness

Well-Known Member
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..
Don't get disheartened bro, markets are designed to test your patience,
it is battle of nerves, after reaching here don't loose heart. All systems have inevitable drawdawns, till the markets are range bound, please try to add filter in your entries, no of lossa trades will get reduced.:thumb::thumb::thumb:
 
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..������������
Sir, Every trader goes through it. Please do not be disheartened. This is the nature of the job we do. It takes great courage to become a trader. Not everyone has the guts to trade. Forget trading, just mention the word "stock market investing" and you get looks on people's faces. So trading is a more dangerous job. We all signed up for it. I would like to quote a famous quote from the legendary sylvester stallone "You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward".

Well... That was all nice talk and philosophy. Now let me try to share a thought with you. Remember, as a trader you dont have to trade everyday. If you make money today then wait for the "next opportunity". Do not trade simply because you are a trader and you have take trades. Wait. wait wait. Seen a lion hunt? It will wait patiently till the prey is close enough and only when it is very very sure, it will come out from hiding and make a dash towards the prey. Trading is like being that hungry lion waiting to jump but so patient that it will not risk its chances of success. So learn to wait. It is ok if you dont trade for 2 days in a row. Desperation is what kills us most traders. Avoid it at all costs.

PS: I have made the same mistakes again and again. I still make em sometimes. But I try very hard not to get carried away.
 
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..
when we fail in trading without any preparation and plan we accept it easily, even if the losses are huge and prolonged as inside us we know we were not having any plan or method or system to trade. so to stop losing (not making profit) our mind gives a great idea... let have a plan, a method, defined set ups etc. and we as prospective profitable traders start working on our trading plan etc.

we come back to trading with a weapon - the trading plan and initially we make profitable trades. wolla!! we are making money even if its small our thought is at least we are not loosing.

sooner the time comes when even following the plan we fail to make decent profits. we started making mistakes (which actually are not mistakes) and these keeps on happening day in day out. we are frustrated depress angry on ourselves. seems like we have hit the road block as we are unable to figure out whats wrong why am i not making profits.

if you are frustrated be frustrated if you dont know what to do let it be like that if you are doubting yourself keep doubting yourself if you are not able to keep your thoughts straight in trading dont force yourself to make things work. if you suppress these felling you wont be able to accept it. the day you accept them you will be able to see that there is way to make things happen.
what is the way ? nobody can tell as you are an unique individual and every individual is unique.
the day you will find your unique way of trading (which can be any damm trick ) you dont need any plan any method set up etc. that day you will become trading.

regds,s
 
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..
hope you have done proper analysis for ur performance since November..

Just giving an example of mine.
I have divided my Nifty trades as Time initiated as Before 12.00 & After 12.00

I took total 33 trades. Of which trades taken before 12.00 has accuracy below 10% :D
Its almost inverse after 12.00. (i knw why this foolish things i do)

Just saying there may b some other reason too other than ur strategy. :)
 

TracerBullet

Well-Known Member
Date : 12 dec 2016

Traded Tatasteel today for 2 trades. Both on short side. 1st trade was as per my plan and lost 0.4R. But then 2nd trade was not as per the system.. took it early and lost another 0.6R.

Slowly getting fade off with my performance as since November beginning this has been my story where i make around 1R one day and loose it on next few days overall staying breakeven.. these flat days are really has made me question my beliefs on trading.. loosing interest to even look at a chart after market..

I have had seen worse loosing month than this before but had never felt this way the way i am feeling right now. Now its becoming more tough to keep my thought straight and work.. i feel like there is no more fire left in me.. dnt know how to face this situation..
Streaks happen, since you have tested this on large sample try to stick with it and then maybe review after every 30-50 trades. Is market behaving differently? A big challenge of trading BO system is to stay alive in sideways/choppy markets and then not loose willpower/courage/belief as sideways turn to trend days. I found this very hard and easy to get chopped up and down. Breakeven is an achievement in itself.

If in future you feel need for system review, consider being more selective in your trades. A very nice way to filter out sideways periods is to wait for clear imbalance in price. When is price in clear imbalance?, couple of simple ways below ( taken from the book that i am trying to implement in future)

1) Wait for strong momentum leg and only then look for entry as a weaker pullback flag turns using BO/Rejection Entries. This means we will give up the preceding leg movement.

Example SBIN 15m today is a good setup leg (taken alone, 1H is less favorable so maybe not good trade but anyway )



Notice strong push to lower band away from MA and also a new recent momentum low in MACD ( Diff of MA10 and MA3 ). A sideways period will have price hanging around MA without a strong push ( TS today - slow DT).

Premise is momentum begets momentum, A strong leg often sets up another push.

2) Another variation that shows market imbalance is a 'High and Tight' Pattern. Price makes a string push and then stays in a tight range. If price is able to stay near extreme after a strong push, it means mean reversion is failing. Eg, TS yesterday, Strong open move, Tight range near Band Extreme and continuation.



Above 2 are basic idea of filtering out sideways, There are more details and HTF considerations that we can add. Maybe you can use them on slow/sideways days with your method or when you are facing a streak.

Anyway, Most people probably wont reach where you are, setbacks are expected in trading, take a break if you feel burnt out.
 

LoneWolf

Well-Known Member
Thanks monkeyBusiness, NoviceStockTrader, Charles, Tracebullet and sherbaz for your points. Upon many pondering and self analysis I have come to know that majority of my problem lies in self improvement. (Not saying that system is perfect). But many things and approach need to be structured from personal front.

My grandma took her last breath yesterday. I wont be able to trade for next 15 days. Will use this time for self improvement. Will resume trading from new year..

Till then have a good time all. Thanks
 

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