Me & My Mom ................................... Our Trading-Our Style!!

[msdtime]

Today's trade:
In Nifty18MarFut
Buy: 10354.10 Sell: 10337.00 (-17 pts)
11:35 candle caused me to book losses and reverse.

Sell: 10337.00 Buy: 10324 (+13)
By 13:05 Nifty 50 reached its intraday Pivot point Support level of 10323. So exited and reversed my position. Although this was only a bet, I took it.

Buy: 10324 Sell: 10364 (+40)

My initial target was at Nifty 50 STR in 10min TF placed at 10360. But as there was a momentum in up-move decided to wait till candle end. Then red candle formed, but took support at 5EMA.

Update: exiting at 364.

Total profits: +36 pts. traded only single lot (Capital of 30K only)
Over and out

 

[msdtime]

Another Hilarious fact about Mom's trade today:
1. Not only she mistakenly traded May future.
2. But also she put in a Market order.

Now imagine a market order in an illiquid contract.
She got her order filled at 10,453.10.
Zerodha kite is showing exact same price as day's high.
quite an achievement!!!
.
.
Between right now she is insistently arguing with me, how a May fut is moving as same as March fut.. and that there is really no difference in price discovery...you trade march or may, there is really no difference... etc...etc.

 

[doonyadav]

I think your "Mother" is retired and age around 60. My humble suggestion to both of you:
1. Please avoid day trading.
2. If you still insist make your trading set up first. Then do paper trading for 3 months.
3. Study a lot.
4. Spare 10% of your total capital for trading.

 

[msdtime]

@doonyadav

Yup, Mother is 58 and took VRS 3 years back.
She is adamant in nature, so only option is she won't give up until dead.
She has paper traded a lot since a year.
I am also novice sir, and studying.

 

[Subhadip]

I think your "Mother" is retired and age around 60. My humble suggestion to both of you:
1. Please avoid day trading.
2. If you still insist make your trading set up first. Then do paper trading for 3 months.
3. Study a lot.
4. Spare 10% of your total capital for trading.

Good advice....

 

[doss186]

Another Hilarious fact about Mom's trade today:
1. Not only she mistakenly traded May future.
2. But also she put in a Market order.

Now imagine a market order in an illiquid contract.
She got her order filled at 10,453.10.
Zerodha kite is showing exact same price as day's high.
quite an achievement!!!
.
.
Between right now she is insistently arguing with me, how a May fut is moving as same as March fut.. and that there is really no difference in price discovery...you trade march or may, there is really no difference... etc...etc.

I think trading for a living should be avoided after retirement. All the great traders were Trading in younger age and quitted after making good money before retirement like wyckoff, Welles wilder and many.

 

[msdtime]

She has a steady source of income as a pensioner.
To her learning and conquering is more imp than financial gains.

 

[pannet1]

@msdtime i think your going is good from (march 5 trade above). two queries ..

1) are you including the brokerage and tax in your P & L
2) are you making your winners ride (no fixed take profit system)

contrary to what is popularly believed SL being hit is not a big worry ... its the small TP (Take Profit) that is going to make or break you.

 

[msdtime]

@msdtime i think your going is good from (march 5 trade above). two queries ..

1) are you including the brokerage and tax in your P & L
2) are you making your winners ride (no fixed take profit system)

contrary to what is popularly believed SL being hit is not a big worry ... its the small TP (Take Profit) that is going to make or break you.

Yes Sir,
I immediately calculate PnL from my excel sheet. So all expenses considered.
I neither have SL nor TP. I only decide on exit or increasing/decreasing my position size only after the 15 min candle end.

 

[msdtime]

Guys currently I am not updating trades for a week. Sorry for that.
As anybody can guess, there is a lot of mess crested by Mom.
She booked total of 15k loss in this week before finally she decided to surrender (not give up)
From tomorrow onwards I am starting to post again.