My Day Trading Journal

jagankris

Well-Known Member
#1
Dear Friends,

It has been almost 10 months since I joined Traderji.
I am diseased with Analysis paralysis.
Because of this I couldn't discipline my mind for it was always jumping from strategy to strategy,Indicators to indicators and software to software.

It is time to focus trading and say good bye to analysis.I have decided to position myself as a full fledged day trader till I acquire the winning trading attitude,discipline and Consistency.

I firmly believe that where analysis stops there the day trading starts.

My Trading Plan

1.Strictly Day trading stock futures.
2.Strictly No options day trading.
3.Trade only after 5 minutes of Market opening.
4.No news,fundamentals,opinion from experts about stocks.
5.No prediction of market directions.
6.No trade entry after 3.15 PM.
7.No to guts and predictions.
8.No carry over of positions.

Psychological goals

1.Try to trade at ease systematically with out any emotions.
2.Try to build the winning attitude and consistency.

I will post my trading results EOD.

Wish me good luck friends.

Best Regards,
JK
 
#2
Dear Friends,

It has been almost 10 months since I joined Traderji.
I am diseased with Analysis paralysis.
Because of this I couldn't discipline my mind for it was always jumping from strategy to strategy,Indicators to indicators and software to software.

It is time to focus trading and say good bye to analysis.I have decided to position myself as a full fledged day trader till I acquire the winning trading attitude,discipline and Consistency.

I firmly believe that where analysis stops there the day trading starts.

My Trading Plan

1.Strictly Day trading stock futures.
2.Strictly No options day trading.
3.Trade only after 5 minutes of Market opening.
4.No news,fundamentals,opinion from experts about stocks.
5.No prediction of market directions.
6.No trade entry after 3.15 PM.
7.No to guts and predictions.
8.No carry over of positions.

Psychological goals

1.Try to trade at ease systematically with out any emotions.
2.Try to build the winning attitude and consistency.

I will post my trading results EOD.

Wish me good luck friends.

Best Regards,
JK

The very best of luck to you..looking forward to your trading diary:)
 

veluri1967

Well-Known Member
#4
Dear Friends,

It has been almost 10 months since I joined Traderji.
I am diseased with Analysis paralysis.
Because of this I couldn't discipline my mind for it was always jumping from strategy to strategy,Indicators to indicators and software to software.

It is time to focus trading and say good bye to analysis.I have decided to position myself as a full fledged day trader till I acquire the winning trading attitude,discipline and Consistency.

I firmly believe that where analysis stops there the day trading starts.

My Trading Plan

1.Strictly Day trading stock futures.
2.Strictly No options day trading.
3.Trade only after 5 minutes of Market opening.
4.No news,fundamentals,opinion from experts about stocks.
5.No prediction of market directions.
6.No trade entry after 3.15 PM.
7.No to guts and predictions.
8.No carry over of positions.

Psychological goals

1.Try to trade at ease systematically with out any emotions.
2.Try to build the winning attitude and consistency.

I will post my trading results EOD.

Wish me good luck friends.

Best Regards,
JK
Include MM also. For Example, if you loose 2% of a trading capital on a single day, quit trading for the day. Plan to close the trading if consequitive two SL hits thus limiting overall limit to 2% of trading capital. That is if you like to trade more than once, divide your 2% risking capital on all those trades equally. Take care your trading a/c is funded enough to meet M2M requirements, to absorb a series of losses. In a nutshell, take care of risk side to ride potentially reward side.

Donot hesitate to log your trades. Discipline steers you to your goal.

All the best.
 
#6
hey. good luck to you.
along with your trades, you should also post the trading logic that you use for entry and exit, even if it is not based on any indicator. (i'm assuming the logic is what will separate it from being purely gut / instinct driven decision)
 

jagankris

Well-Known Member
#7
Dear Friends,

Took some time to fine tune myself and here are my trades for today.

1.IBRL - Long @128.40 - Covered at 128.90.
2.IBRL - Feb 130 Call - [email protected] - Covered at 6.80.
3.IBRL Feb 130 Call @6.10 - Open.
4.TS JAN - SHORT - 637.50 - Open
5.TS Feb - Long - 635 - Covered at 635.80.
6.TS Feb - Long - 635 - Covered at 636.80.
7.TS FEB -Long - 636 - Open.
8.LT Jan -Long - 1665.90 - Open.(Looking to take it for swing).
9.Nifty - Long @5735 - Covered @ 5736.

1.I have violated my rules of not carrying positions.
2.Had a short view on TS but TS went against my view today and hence hedged my position.Still holding the same view.Will try to close the long at appropriate time.

Best Regards,
JK
 

CASPER

Well-Known Member
#8
Hi Jagan,

Just curious to know a couple of things...,

-Do you take your trades based on any System ( Developed / tested ) by you !!..., In short are you a system trader or a discretionary trader ??. OR are you both .., like people with split personality ....;) ..( Just pulling your legs my friend )

-I see that today you have taken 4 trades in TS and closed 2 among them , when i calculate the returns for 2 lots @635 Buy and @635.80 sell after brokerage and other taxes you must have gained approx 290.45 i.e i have considered brokerage as .025%, Ok now to my question when you were in profit why square it of for a minimum return??

-Once trade has been taken what basis do you decide to close the trade ??. Eg Do you check charts of the stock all along with an eye on Nifty as well ???. If Yes what time frames do you trade ..


Too many questions for now ( Let me save some for next time ..) .......;)..!!!

Any way good luck my friend...,


Best Wishes..,
Nithin.
 
#9
For Tradeji
Sir plz tel me What is the difference between sub-broker and Authorized person . Actually i want to open a franchise of a good broking house but they told me they can let me there authorized person (AP) as it will cost me less to open the bussiness . Plz help me and say the difference in between sub-broker of any broking house like religare etc and AP . Plz it is urgent
 

jagankris

Well-Known Member
#10
Hi Jagan,

Just curious to know a couple of things...,

-Do you take your trades based on any System ( Developed / tested ) by you !!..., In short are you a system trader or a discretionary trader ??. OR are you both .., like people with split personality ....;) ..( Just pulling your legs my friend )

-I see that today you have taken 4 trades in TS and closed 2 among them , when i calculate the returns for 2 lots @635 Buy and @635.80 sell after brokerage and other taxes you must have gained approx 290.45 i.e i have considered brokerage as .025%, Ok now to my question when you were in profit why square it of for a minimum return??

-Once trade has been taken what basis do you decide to close the trade ??. Eg Do you check charts of the stock all along with an eye on Nifty as well ???. If Yes what time frames do you trade ..


Too many questions for now ( Let me save some for next time ..) .......;)..!!!

Any way good luck my friend...,


Best Wishes..,
Nithin.
Hi Nithin,

Thanks for your wishes.

1.Not able to come out with a fool proof system and hence currently trading with system + discretion :).

2. I am taking entries with a buy signal in 1M Tf.

3.I am with RKG hence my break even for Tata steel is 25 paise per trade.
So even if i cover my position at 80 paise I will be 300 Rs plus.

4.TS now a days is not correlating much with Nifty and hence I don't rely up on correlation with Nifty.
Even today I shorted TS and I went Long in Nifty but covered Nifty at 1 point and went long in Feb TS.

Best Regards,
JK
 

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