Trading Challenge : My journey from 1.5Lakh to 6Lakh in 5months
- Thread starter SwagatN
- Start date
Date 18 June 2018
1st trade was a LONG on ICICIBANK. After strong bearish day on previous seesion, today price started off strongly. Trading Bias changed to LONG above previous day high. Went long after a minor pullback. Exit near HTF resistance where price faced strong resistance and could not go up.
2nd and 3rd trade were two long attempt on YESBANK, and both the attempt got scratched for minor loss.
Trade Book
Net Position
1st trade was a LONG on ICICIBANK. After strong bearish day on previous seesion, today price started off strongly. Trading Bias changed to LONG above previous day high. Went long after a minor pullback. Exit near HTF resistance where price faced strong resistance and could not go up.
2nd and 3rd trade were two long attempt on YESBANK, and both the attempt got scratched for minor loss.
Trade Book
Net Position
Date 19 Jun 2018
1st trade was a LONG on CIPLA, its minor trend was sideways and support was near a HTF support zone. But the LONG did not work, and got scratched for minor loss
2nd trade was a SHORT on SUNPHARMA. I could not catch any short setup in the morming fall as per my system. But need to review this in evening if the setup is there and I miscalculated it. Went SHORT below HTF support for a quick profit.
Just 2 trades for the day. But not a good day to me as I missed many good SHORT setup in the morning. Need to improve further on tracking and taking all the trades simultaneously.
Net Position
Missed Trade
============
HIndalco was a jackpot trade.
TATAMOTORS and YESBANK SHORT were also high probable and were giving handsome profit on risk
1st trade was a LONG on CIPLA, its minor trend was sideways and support was near a HTF support zone. But the LONG did not work, and got scratched for minor loss
2nd trade was a SHORT on SUNPHARMA. I could not catch any short setup in the morming fall as per my system. But need to review this in evening if the setup is there and I miscalculated it. Went SHORT below HTF support for a quick profit.
Just 2 trades for the day. But not a good day to me as I missed many good SHORT setup in the morning. Need to improve further on tracking and taking all the trades simultaneously.
Net Position
Missed Trade
============
HIndalco was a jackpot trade.
TATAMOTORS and YESBANK SHORT were also high probable and were giving handsome profit on risk
Date 20 Jun 2018
1st trade was a SHORT on ICICIBANK. My trade bias was bearish and price was in a sideways range. I was not fully convinced on the setup and ended up in taking it anyway. But quickly realised my mistake and scratched it over the entry bar itself.
===========
Ever since I have resumed my trading since 14th June after few minor tweaks on my original system I have been being very selective on picking a trade. Now I do not mind missing a trade if I dont understand it but I need to understand the market structure and price action fully before I take a trade. Today I violated this and my emotions got the better of me. Even though I sensed that I was struggling to see a setup in the above trade I took it anyway justifying that I could scratch it for a smaller loss if it does not work. and what if i will miss a good SHORT opportunity. But as soon as the entry candle reversed all the sense came back to me, I felt guilt over my own action and qucikly scratched it.
Market always humbles us, and today I took my lesson.
=============
Trade 2 was a SHORT on HINDALCO. A good reversal in trend was caught just near HTF resistance zone and timely exit was also there. Nothing more to add.
3rd trade was a very low probable SHORT on SUNPHARMA. Underlying trading sentiment was bullish with a sideways trading range. When price failed to go past beyind morning high, I took a low probable SHORT on very small risk. Trade did not work, and got scratched in time.
Net Position
1st trade was a SHORT on ICICIBANK. My trade bias was bearish and price was in a sideways range. I was not fully convinced on the setup and ended up in taking it anyway. But quickly realised my mistake and scratched it over the entry bar itself.
===========
Ever since I have resumed my trading since 14th June after few minor tweaks on my original system I have been being very selective on picking a trade. Now I do not mind missing a trade if I dont understand it but I need to understand the market structure and price action fully before I take a trade. Today I violated this and my emotions got the better of me. Even though I sensed that I was struggling to see a setup in the above trade I took it anyway justifying that I could scratch it for a smaller loss if it does not work. and what if i will miss a good SHORT opportunity. But as soon as the entry candle reversed all the sense came back to me, I felt guilt over my own action and qucikly scratched it.
Market always humbles us, and today I took my lesson.
=============
Trade 2 was a SHORT on HINDALCO. A good reversal in trend was caught just near HTF resistance zone and timely exit was also there. Nothing more to add.
3rd trade was a very low probable SHORT on SUNPHARMA. Underlying trading sentiment was bullish with a sideways trading range. When price failed to go past beyind morning high, I took a low probable SHORT on very small risk. Trade did not work, and got scratched in time.
Net Position
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| S | Trading Challenge III : 300% in 5months. Attempt III. | Trading Diary | 97 | |
|
55 days Trading Challenge - (Rs 1,000 to 5 Lakhs) | Commodities | 46 | |
|
Trading Challenge - 1 (Crude oil - 1.75 L to 1 Cr in 300 trading days) | Energy | 141 | |
| U | Trading challenge - 1 to 2 | Trading Diary | 12 | |
| S | Trading Challenge II : 300% in 5 months | Trading Diary | 254 |
Similar threads
-
-
-
Trading Challenge - 1 (Crude oil - 1.75 L to 1 Cr in 300 trading days)
- Started by ScorpionKing
- Replies: 141
-
-