LONE WOLF's Trading Diary

[LoneWolf]

Date : 13 June 2017 : OPening Session

Trade I : LONG on PNB

P/L in this trade : -0.05R

 

[LoneWolf]

Date : 13 June 2017 : Closing Session

Trade I : SHORT on PNB

Remarks : None
P/L in this trade : +0.75R

Trade II : SHORT on VEDL

Remarks : Missed trade. Could not time my entry through this complex PB setup.

Summary

Trades Taken = 2
Trades in profit = 1
Trades in Loss = 1
Trades Missed = 1
Net P/L for the day = +0.7R

 

[LoneWolf]

LAst few trading days have become extremely difficult in intraday trading on my tracked stock lists. The daily trading ranges have been narrowed, Congestions are going on few scrips on daily charts. Not getting any good reliable one sided move. Lets see how long such things continues.

 

[niftytraps]

Lonewolf,
Are you taking 1%in each trade?like you have running. 3trades so you would be risking 3%of capital at a time? Or you risk 1%of capital equally divided in 5stocks and trade with that capital when trade comes?

Thanks

Sent from my Moto G (5) Plus using Tapatalk

 

[LoneWolf]

Lonewolf,
Are you taking 1%in each trade?like you have running. 3trades so you would be risking 3%of capital at a time? Or you risk 1%of capital equally divided in 5stocks and trade with that capital when trade comes?

Thanks

Sent from my Moto G (5) Plus using Tapatalk

My R is 0.5% of my trading capital, and its per each trade.

 

[LoneWolf]

No trading today for me. have some work and will be going out. If at all I return before 1PM, then will sit for closing session.

 

[LoneWolf]

No live trading today and also for last 3 session. I have been working on developing some code works for scanning stocks with potential of price movement from a group of stocks. Today I was paper trading and testing the same. If everything goes well, will increase my tracklist to 10-15 stocks with the scanner running in every 30 min to identify potential trading candidate. Will resume the trading soon..

 

[LoneWolf]

Waiting for tuesday.. finger crossed..

 

[vagar11]

Any change in the method. Hope you are doing well. How is your dog now ?

 

[LoneWolf]

Yes slight modification in the approach.

Trading Style : Intraday

Objective : Trading the trend in 1m chart. Enter as per pre-defined entry setup whenever an entry potential is seen. Be in the trade as long as the trend lasts and exit gracefully with no hesitation whenever exit criteria are met.

Trading Instruments : 13 stocks
Banking Sectors : AXISBANK, BANKBARODA, SBIN, YESBANK
Finance Sectors : HDFC, LICHSGFIN
Metals : TATASTEEL, HINDALCO, VEDL
Auto : ASHOKLEY, TATAMOTORS
Others : RELIANCE, LT

Trading Strategy:

• 
  Trade 1m trend in the direction of 5m trend.

• 
  5m trend (Trade direction) is identified with 2 sets of EMA and rally/decline/candle patterns from 5m chart.

• 
  Once trade direction is decided then wait for positive momentum to be seen in the direction of the trend. This is done through MACD histograms.

Up to this point its all mechanical and will be scanned through my exploration AFL on every 15m. Once a potential trading candidate is identified I will check its trend on 1 m chart and trade as per the following setups.

Trade Setups :

• Simple Pullback

• Complex Pullback

• Failure near S/R

• Breakout Pullback and Breakout Failure from sideways range

Entry, Trade management and exits are discretionary so far.

Money Management :

Take 0.5% risk on each trade. Maximum 3 open trades at a time. initiate 4th trade only if one of the trade from previous 3 trades is secured.
Daily Trade Risk = 2%