Trading Challenge : My journey from 1.5Lakh to 6Lakh in 5months

[SwagatN]

Date 8 - june -2018

Today I used a trend following system, (The only trend following system I know is the minor-visual trend method, taught by smart-trade and Subhadeep some 2/3 years back). I have not practiced this method for a long time, Today I gave it a try instead of my usual system which was more looking for reversal and I also found out the mismatch between the system and my psychology. A concrete call on this front will be taken over the weekend.

============================
1st trade was a SHORT on AXISBANK, I am not quite sure if this is a valid SHORT or not, as I am little doubtful about the visual trend here, I took the SHORT on a pullback on minor downtrend, Trade did not work, I scracthed

2nd trade was a SHORT on HINDALCO where visual trend had changed to down, and this was a continuation of yesterday's minor downtrend.
Exit was early, need to develop that patience to hold when the trend is still intact.

Trade Book

Net Position

 

[VJAY]

Dear Swagat,
At last you came back to method which you had learnt earlier ...good

 

[SwagatN]

Contract Note for Friday trade

Weekly Performance

Weekly performance shows a strong downtrend !!! Net down by 4.13%
A gap between trading system and personal psychology added with flawed execution skill is the reason of this start.

For next 3 weeks (till end of June) going to adapt the trend following strategy and see the performance. Risk will be 60% of usual risk till drawdown comes below 2%.

 

[Subhadip]

Do not worry...calm your mind....

you r very near...just one hurdle....

 

[SwagatN]

Date 11 Jun 2018

1st trade was a LONG on CIPLA, Visual trend was up, Minor uptrend above previous VPH. Went long above aggressive mPH. Trade did not work, scracthed.

2nd trade was a counter trend SHORT on SUNPHARMA, Rejection near previous VPH in a visual uptrend, SHorrted below 1st 5m bar low. Trade did not work, scracthed. May be I should have waited for a mPL to break.. Got very aggressive to SHORT there .

Net Position

 

[VJAY]

Dear Swagat,
Just my views about your trades...
Trade 1:Your trade should be in 1st bar itself as allready in UT ...long abv VPH ...Once missed the trade don't jump into trades
Trade 2:Not take these type of rejections/failures as there is no room for price to travel ....means VPL is too near by... another rejection long trade was there in 5th bar as its mostly follow trend...take counter trend trade only when there is some distance to travel...you can take same if its with trend

 

[SwagatN]

Dear Swagat,
Just my views about your trades...
Trade 1:Your trade should be in 1st bar itself as allready in UT ...long abv VPH ...Once missed the trade don't jump into trades
Trade 2:Not take these type of rejections/failures as there is no room for price to travel ....means VPL is too near by... another rejection long trade was there in 5th bar as its mostly follow trend...take counter trend trade only when there is some distance to travel...you can take same if its with trend

So there shoudld be a LONG in SUNPHARMA also in 1st 5m bar, as that was in visual uptrend and LONG above VPH..Right ??

 

[VJAY]

So there shoudld be a LONG in SUNPHARMA also in 1st 5m bar, as that was in visual uptrend and LONG above VPH..Right ??

Yes

 

[SwagatN]

Yes

1 question vijay ji..

Here is the minor pivot correct ?? Or shall I treat everything as part of rally ??

 

[VJAY]

So there shoudld be a LONG in SUNPHARMA also in 1st 5m bar, as that was in visual uptrend and LONG above VPH..Right ??

But prefer charts which have good price moves not conjusted ones for atleast 1st bar trades