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| Discuss Go Fishing at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi Pattel Could you elaborate and explain on Pts 4 & 5? slah[/quote]... |
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#12
23rd July 2008, 01:37 AM
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Re: Go Fishing
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#13
23rd July 2008, 02:05 AM
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Re: Go Fishing
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4. # Using risk/(point of entry - SL) for position sizing: say you have 45,000 and you use 15,000 per trade. risk amount is roughly 112 rupees. Say u enter a share purchase at 100 rupees and SL is 90 then the position size or number of shares you buy will be 11. # Draw down for a day is 2%, for a week is 6%,for a month is 10% : If i lose 6% in a week i shouldn't trade anymore, just sit quiet or do paper trading, same for the daily and monthly. Quote:
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#14
23rd July 2008, 02:47 AM
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Re: Go Fishing
07/22/2008 trades. Not a great start. Entered GMR, NTPC and RCOM.
RCOM:  What worked: Followed all the rules except 1 What didn't work: On trend break should have get rid of 50%. GMR:  NTPC:  Total loss in all trades 284.68. Total capital left: 45,113 - 284.68 = 44828.32 This Week drawdown @ 0.63% Last edited by pattel; 23rd July 2008 at 03:03 AM.
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#15
23rd July 2008, 08:35 AM
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Re: Go Fishing
Hi Patel,
First off all, I would like to congratulate on coming with something which u want use as guidelines.. You can review it after now and then to keep improving. You mentioned that you are trading on 5mins charts. You need to relook at your stop loss. Do review it once again. Raj
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#16
23rd July 2008, 01:35 PM
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Re: Go Fishing
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You rightly pointed out looking at the charts. I'm at no profit and loss today in this market which means i'm missing something obviously SL is one of them as it got hit(trailing SL) all my trades today trying to be little stringent. I'm going back to paper trade for a while to fix my issues before entering again into the market with real money. going to work on 1. SL 2. time frames which i use to trade (5min and 30 min) will post my trade info tomorrow -Pattel
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#17
23rd July 2008, 07:23 PM
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Re: Go Fishing
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#18
23rd July 2008, 07:59 PM
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Re: Go Fishing
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I am doing good. I really cannot give much time to TA so I m moving sideways  . Quite busy with the job, maybe I will enter into the markets once I have more time to look at the charts.I read through sometimes and see that there is lot of learning happening in Saints thread about pivots.. Did u manage to build any mechanical trading system? My Apologies to you patel, talking something that is outside the scope of the subject here. Its nice that u have realized that timeframe and SL has a very good connection. Raj
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#19
23rd July 2008, 08:47 PM
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Re: Go Fishing
All the best mr pattel.
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#20
24th July 2008, 03:29 AM
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Re: Go Fishing
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