Trading Pullbacks, Tradelog

Discussion in 'Trading Diary' started by TracerBullet, Jan 9, 2017.

  1. TracerBullet

    TracerBullet Well-Known Member

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    Hello, I will log my trades in this thread.

    I Will be trading pullback variations in stocks, everything will be based on Mr Grimes. He has a very nice blog, book and free trading course.

    Note I am still only a learning trader and am trying to learn by trading small live instead of manual backtesting. I have basically read significant parts of above but still need to go through it again in a straight line. So, If the approach interests you, best start from resources above.

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    [​IMG]

    Decent start today, Took a short in Asian Paints. This is Anti trend change pattern through High & Tight pullback ( Tight range after a large move).

    Trade was against 1H trend but we also have a negative bias from Daily/Weekly and 1H upmove had already made few legs by now

    Trade stalled for some time, was looking to exit by a time stop through tightening. But price broke through after this 1H consolidation. Took some off at 1X and TSL hit on rest.
    Trailing here will be through '1 clean swing' approach, i will try to hold trough small consolidations and LTF pullbacks but will not give back too much once a trade has moved. In this case price snapped back and consolidated at the highs so quit above it.

    Missed couple of shorts in SUNPHARMA, but was held up by Asian Paints. Slowly as i get used to it i will try to manage 2 trades at a time once open risk on 1st trade has been reduced enough.
     
    Last edited: Jan 9, 2017
  2. LoneWolf

    LoneWolf Well-Known Member

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    Good one Tracerbullet. and Best of Luck.. :clapping::clapping:
     
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  3. TradeOptions

    TradeOptions Well-Known Member

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    Best Wishes Tracerbullet. :)
     
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  4. vsatrader1

    vsatrader1 Banned

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    TracerBullet ,
    do you have the afl for algoswings? if you have can your share

    regds,
     
  5. TracerBullet

    TracerBullet Well-Known Member

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    I can help you create it if you want instead of spoon feeding unfamiliar code(to you) and adding to afl collections. The swings themselves probably dont have any edge on their own.

    Simply have some logic for pivots, i use fractals and some more conditions( ST pivots). Also add a volatility filter( minimum distance between pivots in terms of ATR) to weed out small pivots and also filter out consecutive Highs/Lows.

    Once you have pivots that look good enough, simply connect the dots. Find first pivot, then draw line to next pivot etc.
     
  6. TracerBullet

    TracerBullet Well-Known Member

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    Took 2 trades today

    [​IMG]

    Long on another HT PB in BPCL after price strongly rejected earlier strong CT move. This is within drive from weekly PB, which is why i took the trade even though price was a bit extended in 15m.

    Price just touched my entry, consolidated a bit more and fell. Got out once the pattern broke. We can either enter on BO or wait for strong bar close, i use BOs but maybe should give a bit of space for entry trigger. Anyway this will happen sometimes

    After failure, price was setting up a CPB consolidating near the lows of 2nd swing. But it broke down without entry triggering.

    [​IMG]

    Long in Hindalco. This was entry into HTF HT flag triggered by a small FT.
    This was also a PB failure on daily by strong rejection.

    Entered above consolidation but no continuation. Price finally broke well but missed Target and snapped back. Not much time left, so quit near entry. We can stay till near close in futures but in stocks there is no leverage ..
     

  7. LoneWolf

    LoneWolf Well-Known Member

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    Why did not your enter LONG on the blue circlet area in HINDALCO ?
     
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  8. vsatrader1

    vsatrader1 Banned

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    bhai,
    thanks for your offer. but i am zero in alf coding.

    regds,
     
  9. TracerBullet

    TracerBullet Well-Known Member

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    At that time Daily bias was down as Daily PB was turning so skipped it, circle was just to highlight how these flags should look, few 1-3/5 tight bars at extreme, preferably not too overextended, then another leg. Another way to look at it as LTF consolidation/pullbacks
    More consolidation than that, and if the setup leg was strong enough, then it becomes HTF/1H flag which can take time/next day to resolve(see Hindalco today on 1H, triggered yesterday) so better look for another trigger into HTF pattern then.

    Tough start so far, all trades ( today as well) had weak entry.
    When Nifty makes a move, sometimes many stocks start making similar patterns, For now i will try to choose using HTF context and what pattern looks best. In future, will try to also be aware of relative strength changes and sector bias. But thats for later as i already have enough stuff to get used to.
     
  10. TracerBullet

    TracerBullet Well-Known Member

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    Took 2 mediocre trades today which didnt work. Esp the 2nd one was not good and i got ahead of the move trying to anticipate.

    [​IMG]

    Short in Tech Mahindra look for HTF drive out of CPB. This is probably reasonable but does not look great in TTF

    [​IMG]

    This was bad, i just looked at the big bar and started anticipating possible move.

    Taking live trades can change behaviour ... Earlier when i was just studying trades in a more laid back way without actual risk, it was easy to discard possible setups that were not great and to not be affected by strong moves in setups i decided to discard or missed. You just keep scanning and look for 1/2 good setups where things fit, doesnt matter if some stocks are moving without you.

    Now maybe i am getting too eager to trade. My eagnerness to trade is maybe reason why i am only trade HT flags and not letting them Pullback. HT is good esp after open, but need to have some balance between the move being not be too overextended and not being too slow.

    These patterns can be traded subtly in context of HTF but for now i will try to trade clearest patterns in TTF and then look for context support rather than the other way round and getting too creative :). So wait for strong move in TTF showing new stronger momentum and then see what it does
     
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