Chaotic Trading - Destiny calls

Hi

I am starting this thread to interact with the members of Traderji. Lets walk hand in hand and try to help each other become better with every trade.

As i already told in the Introduction thread that i belong to a family of successful traders. From my childhood I have been exposed to trading talks. Even before I studied Geometry in school I knew about supports and resistances . So becoming a trader was only thing I dreamed and knew about. But as I was good in academics (only member of my family to complete my graduation) I was sent to London to do my masters and my trading career never kick started. Having returned to India few months back I have now started on the quest to become a successful trader. My dad wants me to take charge of the family business and leave trading to other members but I have convinced him to give me a year. So i have 1 year to prove my family that i am better suited for trading and family business should be run by someone else.

I have learned all about trading from 5 people. My dad, mom, grandfather and my 2 uncles. All of them have different style of trading. You can imagine the environment in my home where there are 5 traders. Only one word can describe it Chaotic. I want to discover what kind of trading will best suit me. I think I can handle each style of trading. As the question remains unanswered I have decided to break my portfolio into 5 parts and treat them as separate accounts. Will review results of each portfolio each month and then may do changes in structure if required. I had around 24 lakhs in my account when I started 2 weeks back and I have divided it in following manner.

Portfolio D (Dads style) - Size 4 lakhs
Portfolio M (Moms style) Size 4 lakhs
Portfolio G (Grandfathers style) Size 10 lakhs
Portfolio C (Chachajis style) Size 2 lakhs
Portfolio U (Uncle (who is dads best friend) style) Size 4 lakhs

Details about each of them i will post later.

I would like senior members of this forum to guide me wherever they can and help me improve. And i will be more than happy to help any member here.

This thread gonna be full of chaos. Lets hope you guys can bear an eccentric like me

Regards
CT

In short let me tell about each portfolio

Portfolio D - Day trading in Index/Stock futures
Portfolio M - Swing trading in Stock futures
Portfolio G - Equity Trading/Investing
Portfolio C - Nifty Options trading
Portfolio U - Covered/naked Stock Options selling.

In detail i will post later..

Regards
CT

Hi CT,

Was going to ask.... why this 'Multplicity' of Portfolios.... got my answer from your second Post....


SG

PORTFOLIO D

Day trading is the most difficult and most famous form of trading. Entertainment value is also highest here. Most people lose here because they dont realize that they are gambling instead of trading. Dad is into day trading since 17 years. He says carrying a losing trade to next day on hope of it recovering is the biggest blunder one can do. One needs to be disciplined and have rock solid Money management skills to survive the game. Its all about improving your odds and grabbing the right opportunity

My setup

I use 2min/5 min/ 30 min charts to trade. I trade simple candle price action. I use standard Bollinger band and stochastic for my exits and for adding to my positions. I dont use any definite mechanical system to trade. Before entering a trade only my stop loss is fixed and rest everything is on my own discretion. I dont like my winning trades to go in losses and I may end up closing a trade at cost. Risk per trade gonna be between 1-3% per trade depending on market condition and buffer of profits i have that day.
Will try to post some trading opportunities I see during market hours and would like senior members to comment upon it.

Regards
CT

Multiplicity helps in better documentation and analysis. I religiously maintain my trading journal and i like to review results regularly. And more than anything i like to maintain order in chaos .

Regards
CT

Very interesting thread.

All the very best, CT.

Regards,

thank you.

Waiting for C U

your thoughts on portfolio C & U. Since both of them are about options.

:thumb:

Will post about setups later.

Recent trade in Portfolio U i did is

Suzlon May future Bought at 51.9
Suzlon 52.5 May 2 call option sold at 1.05



Regards
CT