Sridhar's Trading Dairy

[sridhga]

Hi,

I have Rs. 1,40,000 as capital in my account. I trade Futures. I am posting this dairy to keep a tab on my performance. My goal is to generate an income of Rs. 10,000 every week. The income generated, if any, would be withdrawn on Friday evening. If there is loss during week, will not withdraw until, it is filled up. However, if the loss crosses Rs. 40,000 , I will take a break to decide further course of action. Seniors and all traders are welcome to guide me. End of trading day, I will post report for the day.

 

[Veeramuthu JJ]

hi Sridhar,

what are the scrips you are going to trade?

System trading or Discretionary trading?

Your capital size is reasonable.

 

[Newbie Day-Trader]

Do you have a proven profitable strategy that has given consistent profits for several months or years? If not, then making ~30% per month is going to be very difficult in a business where most people don't make any profits. Good luck.

 

[timepass]

Good luck to you

 

[mark8tune]

Best of luck,
Let's make some money !!!!

 

[Svaanikvinay]

All the best buddy..May you succeed

 

[pannet1]

Futures means Stock or Index.

If its Index ..... its better to sell options (intraday) ..... less turnover tax and other hastle.

 

[anoopcr]

All the best

 

[sridhga]

Hey,

I will try to reply to you all.
I follow ORB method
This is what I intend to do.
I choose HDFCBank May Future and Maruti May future.
I find high and low of the day by 10 am.
Place BO on the buy/sell side just above/below recorded high/low.
TP is +/- 0.5%
SL is -/+1%
I have negative RR.
Possible issues:
1. Order may not be triggered. Okay that means no loss and so no worries
2. False breakout. If volume does not support in few minutes after trigger, exit the trade, even if, stop loss not hit. This is difficult to execute.
3. Negative RR is a handicap of this system. If it does not result in better win-loss ratio/ probability, this method would be given up in 5 working days.

Any comments/inputs?

May start off tomorrow or day after.

 

[sridhga]

hi Sridhar,

what are the scrips you are going to trade?

System trading or Discretionary trading?

Your capital size is reasonable.

Scrips HDFC Bank Future and Muruti Suzuki future
I would call it discretionary.

Thank you for your inputs