Oh so Boring . . . BNF Swing Trading

Hello

Interesting discussion on the Trading Diary of Suri . . .

Yesterday my position also went from +200 to -300 i.e. M2M of -500 points in one session . . .

But these aspects about trading like to use a TSL or not, how to manage intraday reversals,
the Vs n Ws are actually not something to be thought of / decided during trading but these things will be considered while defining the system.

One of ways to manage these aspect is to write down clearly and in detail all the different possible scenarios and how the system behaves in each of them . . .

If a new scenario comes up which is not already on the list, we know that our pre -preparation has been not been up to the mark


Thanks


btw, after taking my 500 points, now BNF is back to my buy price

Sorry for skipping few trades i.e not posting on this trade log,
all were almost scratch or -ve, . . . coincidence or what

Current Trade is short from 18340 i.e. closing price of 22/5/2015


Contemplation on Hesitation

I know that hesitation to do what the system (rules) tells me to do, will cost me dearly,
even after knowing it clearly and experiencing it repeatedly, why does indecision enters the mind?

After trading for so long and sticking to the size of trade as per the risk profile and MM rules,
the fear of losing is really not there, also have been quite consistent with keeping the size small
and not over trading or trying to cut when in profit, so I would guess the greed part is also under control.

Recently been thinking/contemplation about it, the more I dwell on it the more insane my actions/in-actions looked

Until it hit me, I am doing all those crazy things against the system not out of any fear or greed or any emotional / pathological reasons,
its just because I think 'I am Smart' . . . definitely smarter than the System "I" have designed and created :lol:

Now what I need to understand is that it does not need just the Smarts to earn good money from the markets,
It's the dumb probability edge of the system that makes money for us, its the dumb / unthinking execution that helps . . .

On Suri's trade log for a long trade his SL did not trigger for some xx paise,
this was near end of an adverse move of some 500 points from top,
but from there the price action turned and the system booked 700 points . . .

Now a smart trader would be already out,
is't it dumb for the system to let it move -500 points and not get out
but maybe this very dumbness is what, that gives it an edge . . .


A Note to Self

Use all the smarts you can when designing/defining/understanding the trading rules.
but the implementation needs unthinking blank mind, just follow the rules with mindlessness,
keep the size as per your MM and take all the reversals on close of candle,
no need to anticipate / use judgement to make a few extra points


I resolve that I will be Happy even with 50% of what the system is expected to make :thumb:


Thanks

Nice notes BNF trader :thumb:
other point is which is your threads heading ...Trading consistent successive system/methods are too boring ...before entry and after entry if follows our rules its too lazy&boring

Hello

For next 10 swing trades I have decided to use some mechanical system which gives clear cut reversals.
As it will be easy to evaluate the hesitation/slippage only if I had some clear defined levels to reverse,
I have chosen Super Trend for practicing this.
For now I do not intend to use the ST beyond these 10 trades

Continue to hold the short, will reverse the position when long is triggered
(It seems that due to some SEBI rules we cannot post reversal levels on this forum)

Thanks


Reversed to Long @ 18490 (First SAR Done 9 to Go . . . . . . . . . )