Trading Pullbacks, Tradelog

[TraderRavi]

No trade today

After Morning strong open, was looking to go long in Bharat Fin, but that didnt trigger. Later it resumed pullback a bit early without clear trigger so skipped it.
Reliance remained a laggard but skipped aggressive shorts as nifty bias at that time was up, BOF happened later.

ICICI gave nice FT at sideways high. FT is a simple setup, maybe i will start taking these when clear signal shows up ( sideways FT or CT against extended/climactic/exhausting trend). I dont have any scanner for it, so will take it if i notice it.

Finally was looking at YES Bank PB long for long time, It was holding well against Nifty drop, i had no short setups available and this looked good with Daily consolidation breaking out. But finally YB seemed to give up and fell more. Removed it from list. YB stopped failing after i stopped looking Some consolidation and PB moved well. Looking back, It was valid long trade.

what is FT and CT ?

 

[LoneWolf]

what is FT and CT ?

Failed Test or Failure Trade
CT - Counter trend ..

probably

 

[TracerBullet]

Are you watching all this stocks simultaneously all the time or watching only those which is filtered by scanner AFL ??

yes some scanners, one looking for big moves based on this. And now started Relative strength based one too to check what is leading/lagging/moving and taking Nifty as reference point

But i also switch between charts a lot after initial filter until i get a small list of stocks that have possible setups and are close to entry point.

what is FT and CT ?

Failure Test ( A quick rejection of High/Low in same bar or next bar). Taken only when trend supports it ( climax reversal/exhautsion) or in clear sideways

CT - Counter trend

 

[travi]

what is FT and CT ?

Bhai, tumhe complex jaane ki zaroorat nahi hai

You have mastered already.
If it's Adams context then:

CT: Counter-Trend matlab, NF going up and we do masti of being over smart :rofl:
FT: Failure Test (rejection of price) like long wicks or subsequent bars.

 

[TracerBullet]

3 trades today. 3 is maybe too much, might stick with 1/2 per day.

CPB VEDL, Entry on test of SR. Quit after trade failed to move for long time. Eventually this did work after snapback took tsl. VEDL was RS leader before my entry, became a laggard during my entry and became leader again after my exit ...

Next, long HINDPETRO on break out of 1H CPB. I am now looking to exit such trades if BO Bar is weak on close. This time hesitated a bit. The other stock on my list with similar setup (BPCL i think) broke well.

Long CPB TM. This 3rd trade was made in a rush, i was a bit tired too. Again was trying to anticipate a BO of daily SR rather than waiting for it to happen
Worst part was that there was no time left, only ~2 bars before square off time. I probably took it out of old habit from trading 3min. Anyway, will stop watching after 1-1:30 if there is no entry. This will give me atleast 8-10 bars for trade to work out. This means i might miss out on some fast EOD moves, maybe later will look at lower TFs after 1:30

 

[vivektrader]

3 trades today. 3 is maybe too much, might stick with 1/2 per day.

CPB VEDL, Entry on test of SR. Quit after trade failed to move for long time. Eventually this did work after snapback took tsl. VEDL was RS leader before my entry, became a laggard during my entry and became leader again after my exit ...

Next, long HINDPETRO on break out of 1H CPB. I am now looking to exit such trades if BO Bar is weak on close. This time hesitated a bit. The other stock on my list with similar setup (BPCL i think) broke well.

Long CPB TM. This 3rd trade was made in a rush, i was a bit tired too. Again was trying to anticipate a BO of daily SR rather than waiting for it to happen
Worst part was that there was no time left, only ~2 bars before square off time. I probably took it out of old habit from trading 3min. Anyway, will stop watching after 1-1:30 if there is no entry. This will give me atleast 8-10 bars for trade to work out. This means i might miss out on some fast EOD moves, maybe later will look at lower TFs after 1:30

TC bhai, how's your trading now (post Grimes), are you consistently profitable now?

 

[TracerBullet]

TC bhai, how's your trading now (post Grimes), are you consistently profitable now?

No, Just started now, dont expect to be so soon.

Every day just a few things different can turn the day profitable. Maybe its a trick of mind, but when i was observing, trades i took generally worked better than other options. Now its vice versa ..

 

[monkeybusiness]

No, Just started now, dont expect to be so soon.

Every day just a few things different can turn the day profitable. Maybe its a trick of mind, but when i was observing, trades i took generally worked better than other options. Now its vice versa ..

Thats the mirage of trading. Difference between Paper trade and real Trade.

But they way you are going methodically, you will make it, and will make it big.:thumb::thumb::thumb:

 

[HappyLife]

@TracerBullet
For this realtime data feed what are you using …. if it’s from any RT data vendor which company & its exact match with terminal high/low/open/close.

 

[TracerBullet]

@TracerBullet
For this realtime data feed what are you using …. if it’s from any RT data vendor which company & its exact match with terminal high/low/open/close.

While learning i am keeping my expenses low. So i use terminal for data. I use my own stuff, but you can try with GUI through this