NiftY Futures paper trading journal

I am starting this jornal for record keeping & guidance form seniors.
I will paper trade the NF based on Market Profile & will post my notes.
Regards
Naveen

Pre Market Observations

09:44 1. Market balancing since previos 3 sessions( overlapping value areas), look for breakout form balance
2.previous day level VAH 5228 VAL 5180 POC 5192, attempted up auction met with swift rejection at 5258, any breakout on longs should hold & followthrough that level.

09:57 open inside previous days range & Value area, market in balance
10:00 will go long at 5180 with stop at 5176
10:05 long at 5180
10:10 stopped out loss ( 4 + 3 (brokerage)) 7points
10:12 goes past yesterdays range , imbalanced , good range expected.
10:26 Initiative selling , look for shorts with right location
10:45 short at 5112 stop 5145, Initiative selling tail + range extension in B period
10:51 stop moved to breakeven at 5109
11:01 5030 buying tail on 3rd Oct, important refernce pont to watch
11:08 stopped out, breakeven trade
11:17 value developing around 5090-5110
12:26 short at 5114, stop at 5134
12:34 single prints separating two distributions in B period form 5126-5134 inportant refernce for longs to be validated
12:36 Buy order placed at 5088, stop moved to 5111 breakeven
12:41 stopped out breakeven trade
12:50 profile looks like letter B, maybe long liquidation
12:53 assuming long liquidation placed a long at 5102, stop 5080
13:06 stopped out loss 25 points
13:12 long at 5080, stop 5060
13:14 stopped out 23 points loss, signs of tunnel vision, 72 ponts long initiative selling tail in A period + previous balancing session do not favour long liquidation
14:51 short at 5072, stop 5082
15:00 covered at 5048, profit 21 ponts
15:32 short at 5100, stop at 5134
15:41 Buy order placed at 5076, stop moved to breakeven 5097
15:44 covered at 5076, profit 21 ponts
14:00 done for today
Trades
1.long at10:05 5180 with Sl at 5176, loss 7 ponts
2.short at 10:45 5112, breakeven
3.short 12:26 5114, breakeven
4.long at 12:53 5102, Sl 5080 loss 25 points
5. long at 13:12 5080 SL 5080, loss 23 ponts
6.short at 14:51 5072, covered at 5048, profit 21 points
7.short at 15:32 5100 covered at 5076, profit 21 ponts
Total loss for today 13 ponts
Previous loss since 1st Oct- 41 points
Total Loss- 54 points , Brokerage taken as 3 points

PS: Will post charts from tomoorrow

naveen excellent to read......btw but how u get market profile in india?
pl intimate

Hello NAVEEVIa

plz continue posting the journal

Thanks
nb

All those interested in Market profile can take a free 30 day trial of MarketDelta software.
http://www.marketdelta.com/
this is a must read " Mind over markets by jim dalton" His latest book can be downloaded here
http://**********.com/files/59229043/0470039094.rar
Newbee i am very glad u started ur journal, some like me find ourselves at the same place after years of journey
keep up the effort & u may be interested in this thread http://www.elitetrader.com/vb/showth...threadid=99283
best wishes
Naveen

A new trend in this forum has been initiated & peoples have started posting their intraday trading a/c (actual & paper trading).
A well come excercise.

Pre Market Observations
1.Yesterday a highly imbalanced trend day unfolded, watch for todays value area placement, if higher then trend intact.
2.Value placement higher for last 4 sessions-Uptrend.
3.Two strategies :Balance area breakouts, fading value area extremes. Discretionary only if market shows conviction.
09:55 open within range, balance expected
09:56 look for small initial balance
10:06 open auction type market till now
10:48 balanced market(5680-5702, Double prints) with small IB
11:10 short 5660, Reason: breakout from previous balance area + small IB=double distribution trend day expected
11:12 stop at 5676
11:20 short covered at 5655, Reason: since the market is balanced right now, possibility of DD trend not there. Profit:2points MAE 5 MFE 14
11:23 Normal variation day with range extension on the downside
11:40 D period stops at yesterdays balance area high 5602-5626
11:45 buy order placed ar 5640 Reason: buying lower value extreme
11:52 long at 5648 stop 5638, sell oder placed at 5700
11:55 stop moved to breakeven 5651,
12:12 stop moved to 5668,
12:13 POC 5676 TPOs(47/44) balanced any upward movement will add selling prints in E & F period & will favour selling based on TPOs
12:19 stop moved at 5678
12:26 sold at 5688 Profit 37 points MAE 0 MFE 41 points
13:28 Market touches yesterdays POC 5606 & auctions up,
13:44 single prints(5580-5600) important reference point
13:51 new balance area expected around 5600
13:53 Range extension + auction rotations(RotationFactor=-5) suggest market trying to go down,
13:56 5560 high, most important reference point
14:00 long at 5614, stop 5582 Reason: If market remains balanced i.e does not sell below 5560 then good trade location for long(lower value extreme), TPO count(83/87) show balance, target POC 5662
14:03 sell order placed at 5662
14:04 stop moved to 5617
14:07 stopped out at 5617, breakeven trade MAE 3 MFE 16 points
14:08 long again at 5622 for same reasons, stop 5606 , sell order placed at 5662
14:12 stop moved to 5625
14:28 sold at 5662 Profit 37 points MAE 8 MFE 58 points
15:03 Since last half hour K period,no good opportunity expected unless market breaks out of balance above 5704 or below 5628

POST MARKET ANALYSIS
TRADES
1.Short 5660 11:10 Exit 5655 Profit: 2points
2.long 5648 11:52 Exit 5688 Profit:37 points
3.long 5614 14:00 Exit 5617 Breakeven
4.Long 5622 14:08 Exit 5662 Profit: 37 points
Total profit : 76 points DayRange 127 points ,60% range
Mistakes:
Not putting all market generated information together in context. Expectation of DD trend day was not prudent considering yesterdays move+ long term direction + open inside range

Attached Images

	Trade 1 short 5660.PNG (31.6 KB, 64 views)
	Trade 2 Long at 5648.PNG (32.2 KB, 24 views)
	Trade 3 long at 5614.PNG (36.3 KB, 17 views)
	Trade 4 long at 5622.PNG (36.5 KB, 21 views)

Hello

Nice to see you posting again. Will take a while for me start understanding, but intend to continue to follow this thread.

If possible do keep posting some theory/bkground info also. Will check out the link you provided, during the weekend.

For the time being, its good to compare notes from my Journal.

Thanks
nb

Very good journal........but difficult to understand for a new trade like me.
Will try yo learn.......

Auction failure examples

Attached Images

	Auction failure.png (27.7 KB, 28 views)
	auction failure 2.png (26.2 KB, 18 views)