My Day Trading Journal

[jagankris]

My Trades Today

DLF Short 241.05 240 1000 1050
TS Short 651.9 650.65 500 625
TS Short 652.1 650.65 500 725
IBRL - 130 Call Short 2.38 2.1 4000 1120
TS Long 645.9 647 500 550
Nifty Long 5488.25 5482 50 -312.5
TS Short 648.1 648.95 500 -425
TS Short 648.1 647.25 500 425
IBRL Short 118.55 119 2000 -900
IBRL Short 118.5 118.4 2000 200
IBRL Short 118.3 117.7 2000 1200
TS Short 645.5 643.7 500 900
TATAMOT Short 1451 1445 250 1500

Net Profit - 6657.50 Rs

One more day of relative under performance when compared to Nifty .

Main mistakes - Early exit and lack of patience which I am struggling to correct.

 

[veluri1967]

My Trades for today
An excellent day for trading which I turned it into a disaster.

1.Option scalping loss - Exited 3500 Rs profit position at
2500 Rs loss.

Nifty 5700 Call - 30.50 Rs - exit - 28.00 Rs.

2.HDFC short - 648.20 - Exit - 647
I should have waited here.Very good entry but due to lack of patience with early exit I missed the profits.

3.IBRL - Long - 121.70 - Exit - 122.50.

4.IBRL - Long 119.10 - Exit - 118.30
Wrong entry and timing.

5.Loss in IBRL position calls - 6000 Rs.

I pray god that IBRL reverses tomorrow :annoyed:.

Net loss - 7700 rs

Lesson learnt - Importance of coping with intraday loss especially in the early trades so that it doesn't meddle with your emotions.

Hey JK,

I donot know what were your emotions during actual trades, but they are at their extremes in your position logging.

It seems your compulsion of trading (even without proper setups), overtrading (could be trading more scrips than able to handle), inability to be off the markets (even if the quantum of losses spiralled and post mortem not undertaken) may be causes.

Please check if any of these reasons causing you and and :annoyed:

I wish you should trade like and :rofl: and :lol:

All the best.

 

[jagankris]

Hey JK,

I donot know what were your emotions during actual trades, but they are at their extremes in your position logging.

It seems your compulsion of trading (even without proper setups), overtrading (could be trading more scrips than able to handle), inability to be off the markets (even if the quantum of losses spiralled and post mortem not undertaken) may be causes.

Please check if any of these reasons causing you and and :annoyed:

I wish you should trade like and :rofl: and :lol:

All the best.

Dear Veluri Ji,

Thanks a ton for this wonderful advice.
I will try to have a proper trade set up and enjoy my trades .

 

[cson]

Dear JaganKris,
Just reading your journal, I am surprised that without any technicals, you are trading and overall you have done good. Atleast from my point of view.

I am very new to trading, and really interested in learning technical analysis.

I have lost some of my hard earned money, but its my mistake that i did not do proper research before jumping.

I mostly want to trade in Cash, not have much idea on FnO.

Can you tell me where do i start my study? I am interested in 3-4 days trade, weekly trade, and intraday.

 

[jagankris]

Dear JaganKris,
Just reading your journal, I am surprised that without any technicals, you are trading and overall you have done good. Atleast from my point of view.

I am very new to trading, and really interested in learning technical analysis.

I have lost some of my hard earned money, but its my mistake that i did not do proper research before jumping.

I mostly want to trade in Cash, not have much idea on FnO.

Can you tell me where do i start my study? I am interested in 3-4 days trade, weekly trade, and intraday.

Dear CSON,

Nope.
Who said with out TA I am trading .
I have charts.
I have spent a lots and lots of time in learning TA.

But still not satisfied with a perfect system or holy grail in trading and hence I use the element of discretion or intuition or what ever you name it for trading but with the use of charts.

Hence my entries and exits are not predefined by a system but by price behavior at a particular point of time.

Learn TA first.
Spend some quality time of at least 6 months in reading tj posts before starting your trading.

PRESERVE YOUR CAPITAL.

1.Read the posts of Columbus,Raghava,Veluri.
2.Pride's strategy.
3.Buy breakout of previous day high and short previous day low.
4.Dhiraj's method.
5.Opening range breakout.

for day trading to start with.
Follow them consistently and you will make profits.

F&O or Cash it doesn't matter in day trading.

Wish you good luck and happy trading.

 

[jagankris]

My Trades Today

Started the day well but TS screwed me followed by IBReal.
The reason being I was totally in a short bias but markets was in a range bound mode most of the day.

07-Feb-11 9.2 DLF Short 239.1 238 1000 1100
07-Feb-11 10.3 TS Short 637.5 639.65 500 -1075
07-Feb-11 11.49 TS Short 640.8 642.25 500 -725
07-Feb-11 13.25 DLF Short 138.55 139 1000 -450
07-Feb-11 2 IBRL Short 118.75 119 2000 -500
07-Feb-11 2.5 TS Short 643.25 642.8 500 225
07-Feb-11 3 TS Long 646.7 646 500 -350

Need to learn about spiraling and how to get out of it.
Net loss - 1775

 

[VJAY]

My Trades Today

Started the day well but TS screwed me followed by IBReal.
The reason being I was totally in a short bias but markets was in a range bound mode most of the day.

07-Feb-11 9.2 DLF Short 239.1 238 1000 1100
07-Feb-11 10.3 TS Short 637.5 639.65 500 -1075
07-Feb-11 11.49 TS Short 640.8 642.25 500 -725
07-Feb-11 13.25 DLF Short 138.55 139 1000 -450
07-Feb-11 2 IBRL Short 118.75 119 2000 -500
07-Feb-11 2.5 TS Short 643.25 642.8 500 225
07-Feb-11 3 TS Long 646.7 646 500 -350

Need to learn about spiraling and how to get out of it.
Net loss - 1775

Dear JK,
are you trading these scrips using any method...chart?....using any MM rule?

 

[jagankris]

Dear JK,
are you trading these scrips using any method...chart?....using any MM rule?

Dear VJAY,

Will PM my reply.

 

[veluri1967]

My Trades Today

Started the day well but TS screwed me followed by IBReal.
The reason being I was totally in a short bias but markets was in a range bound mode most of the day.

07-Feb-11 9.2 DLF Short 239.1 238 1000 1100
07-Feb-11 10.3 TS Short 637.5 639.65 500 -1075
07-Feb-11 11.49 TS Short 640.8 642.25 500 -725
07-Feb-11 13.25 DLF Short 138.55 139 1000 -450
07-Feb-11 2 IBRL Short 118.75 119 2000 -500
07-Feb-11 2.5 TS Short 643.25 642.8 500 225
07-Feb-11 3 TS Long 646.7 646 500 -350

Need to learn about spiraling and how to get out of it.
Net loss - 1775

Dear JK,

Whatever may be our level of understanding of market in general or scrips in particular, we are likely to make mistakes in making trading decisions.

On analysing my past trades, I realised that I have made profitable trades when I followed systematic Adds to winning positions. My biggest losses occurred when I tried with big lots in one go.(I used to trade 5,000 shares per trade).

When we follow systematic adds system, we can confidently trade with our emotions at the minimum play. Since our initial position is small (1/4th or 1/3rd of our actual intended quantity), our losses are automatically minimised when the trade goes wrong. These small losses will get wiped out when we successfully add to winning trades in a trending moves.

Hope you are saving all the charts and journal of your trades done. If so, open your records, check what would be the effects of adds system to your previous trades wether profit or loss.

All the best.

 

[columbus]

When you get profit in a scrip for couple of days ,just change to some
other scrip.