Trading Diary- Mukesh

[chavanms]

Morning First Two candle made my bias on the short side and one more bias nifty moves very rapidly in either direction in the first hour. hence did not wanted to miss big move.

First trade

having bias on bear side after 9.36 big bear candle went short without waiting for follow through. after two white candle with fear of losing closed.

Lesson

Waiting for follow up candle, white candle body is small and also top side weak , could have waited for cover order


http://imgur.com/a/rxIbZ


Second trade

Price was approaching low of the day , having initial bias of bear in mind I thought big bear move will start from here hence open short position anticipating break of low and big bear move.

as per my plan to close the trade one candle against my trade closing above high/low of previous candle I should have closed but greed/fear of losing allow me to lose more.

Lesson

1. As soon as I came to know decision is wrong should close as loss.

Third trade.

As expected the price went to high of the day, first and second rejection price 8698 and big bear candle again expected that now bear will move fast and entered short.
next two three candle bear struggled and gave signal to book with small profit , but I wanted more. End up in giving 7 point .

lesson. : When it clear signal price does not want to move in our direction close the trade and wait for next opp.


Fourth trade

Price went above 8700, initially thought breakout. the two candle with wick on top , though now its time for bear

open short position, went down but body of bear cable made me worried and one close above high of previous candle close with small 2.5 + trade.

Lesson.-- small body of reverse cable should be cause of fear.

 

[chavanms]

http://i.imgur.com/gZKixDM.png

Seeing the triangle formation and Bull candle bodies are bigger than bear candle decided that it will upside breakout also gap up and no attempt to close gap.

Tried to put the Limit order but due lack of knowledge I got filled up for buy order at 8665 at 10.04 - but due to fear SL put at 8660 which hit at 10.14.

After learning from mistake SL - M Buy order corrected filled at 8671 and got filled. Trade moved nicely in my direction put the stop loss at low of bottom wick candle.

got out at 8679.

Gr 8 learning , Thanks to Subhadip Sir,

 

[chavanms]

Bad Management, lack of board view.

Good guideline were inline place by Subhadip sir,

Learning process is on

Mukesh

 

[chavanms]

Wanted to Go Long above 1340.63 but priced moved fast entered at 1341.88 market order

Priced moved well upto 1342.50 but then collapsed and decline confirmed

Exited at 1340.11

1.77 point loss

 

[chavanms]

 

[chavanms]

 

[chavanms]

 

[chavanms]

Name Pos Entry P SL P Target P Exit Price Exit Reason.
Axis Short 484.1 485.55 481.5 485.55 SL Hit
Maruti Long 5774.5 5769 5797 5769 SL Hit
VEDL Long 216.2 215.8 217.5 216.9 Near Target
canbk Long 301.5 301 303.1 303.1 Target hit
bankbrd Long 148.14 147.85 149 149 Target hit
canbk Short 302.4 302.9 301.5 301.5 Target hit
bankbrd Short 149.2 149.5 148 148.85 Price rejected 148.6 twice
tatamotor long 509.65 508.8 512 509.9 Price not moving

All above are paper trade not taken actual position

 

[PUCHU_2500]

Name	Pos	Entry P	SL P	Target P	Exit Price	Exit Reason.
Axis	Short	484.1	485.55	481.5	485.55	SL Hit
Maruti	Long	5774.5	5769	5797	5769	SL Hit
VEDL	Long	216.2	215.8	217.5	216.9	Near Target
canbk	Long	301.5	301	303.1	303.1	Target hit
bankbrd	Long	148.14	147.85	149	149	Target hit
canbk	Short	302.4	302.9	301.5	301.5	Target hit
bankbrd	Short	149.2	149.5	148	148.85	Price rejected 148.6 twice
tatamotor	long	509.65	508.8	512	509.9	Price not moving

use wrap (HTML) tag for better looking

 

[chavanms]

Good morning

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