Manoj's Trading Diary

[manojborle]

stop loss revised to 5585

 

[manojborle]

ohh my god this power cut waiting for zerdha trader to re connect

 

[manojborle]

ohh god bless stop loss not triggered now revised to 5578.7

 

[manojborle]

could not hold more bought back nifty future @ 5539 for a handsome gain of 14000

should take off now today was an awesome day, 3 trades with a profit of 26000

 

[manojborle]

Once again bad exit, but at least managed good entries today, will try to work on exits.
I mostly exit looking at the profit which I don't want to lose, will have to control this urge and find some rational ways to exit

 

[manojborle]

Once again bad exit, but at least managed good entries today, will try to work on exits.
I mostly exit looking at the profit which I don't want to lose, will have to control this urge and find some rational ways to exit

will try to post todays entries and exits on chart

 

[Aarav11]

will try to post todays entries and exits on chart

PLease so share the charts. Waiting so that i could get knowledge out of it.

 

[manojborle]

today's entries and exits posted here

Uploaded with ImageShack.us

 

[manojborle]

tried to post a bigger image but could not do it, will find out some other way, hope the entry and exit points are clear.

1. Today NF opened with a Gap Up, first bar of the day was a huge bull trend bar followed by similar size bear trend bar.
So shorted NF @ 5586 expecting the gap to be filled, but almost 11-12 bars were above 20 ema so squared off short as soon as price traded below 20 ema @ 5581, NF made a low of 5576 here.

2. Second entry was a long trade above the bull trend bar high (H2) @ 5584 for a target of day's high @ 5593, but there was a huge bull trend bar breaking the resistance of 5595 and closing well above 5600. I was worried about not able to take profit so as soon as I see a bear trend bar forming I exited long @ 5607.
NF went on to make a high of 5622 (Need to work on this)

3 As NF made a high of 5622 it was a rising wedge, so now I was ready for short. As NF broken the rising trendline, I was expecting a pullback near 5622 where I was going to short but it didnt happen and NF straightway fell near 5570.
So now it became a very high probability short so decided to increase my position size and wait for L2 entry which came around 5576, so shorted NF @ 5576 with 5589 as stoploss for target of yesterday's low around 5550
it went right through my target to close around 5541 after 8 bars from entry and again I didn't want to lose profit so I squared off my short @ 5539
Again I exited too soon and NF made a low of 5594

So my entries today were alright but my exits were awfully wrong as I was mesmerised by the good profits and could not hold on to such good entries.
I will try to incorporate some way in my plan to exit so that I can stay in a trade for long time.

 

[manojborle]

Shorted NF @ 5514 but only 2 lots as stoploss is @ 5535 for target of 5494