LONE WOLF's Trading Diary

TracerBullet · Jun 1, 2016

Small profit day
Trade 1 - Trends are up, Price compressed around PDH and broke up. Hesitated to take initial entry, took next one. Broke well but no followup. Was ready to close once price holds below BO area, but waited and took a few seconds to do it and price took stop quickly. Need to execute this better, took unnecessary bigger loss.

Trade 2 - Anticipated Trend reversal after pivot break below vERL. This is against 1H trend and general bias so planned to take targets and trail aggressively. This setup moved very well, more than i expected. Initially move was slow and overlapping, got shaken out before fast move started.

After Exit, there were 2 decent places to short. 1st was at VWAP -1SD. Price was trending between -1SD and -2SD (Trend) and had a 3 bar stall after touching -1SD. I had lost focus after seeing sharp move here and in NIFTY, was expecting price to continue long. 2nd was a nested pivot break. By then i got frustrated after missing out and was just ignoring the moves. This was harder to take as we were approaching yesterdays buy area.

Getting decent trades, but not able to get bigger moves yet. SBIN is trending well for now so easy to be overall positive in spite of mistakes.

Anyway, today we did v-reversal of yesterday's move. Hourly reversal is below at 194.6. If Hourly trend does not reverse, we may get extended sideways period, possibly compression. If it compresses, we still have big range so hopefully we will get some volatile moves in between. Lets see.

TracerBullet · Jun 1, 2016

TracerBullet said:

ok, looking back at trade exit - i can see it was too aggressive. It was just some inside bars, not a pivot either Subhadip style or ST style.

After taking targets, i get anchored to a profit number and then getting eager to tighten part2 beyond part 1 which defeats the purpose. This time i took it out as price was at +2SD, instead target should be to trail through trend between +1SD and +2SD and exit when +1SD does not hold or on climax.

1) So from now, when trending, trail part should be always behind correct pivot. If move is pivotless, i will wait until a bar closes beyond +- 1SD and price takes out that bar indicating price is no longer holding at +1 SD
2) For climax moves, use 2 bar trail for atleast 1 part. Climax move = End of move WRB (that is not a consolidation BO) with very high volume that closes near L/H
3) Also will try to renter executed Targets on pullback using +-1SD (or P1/2 if trending well).

karthik_sri · Jun 1, 2016

LoneWolf said:

Date : 01 June 2016

NIFTY

NIFTY started flat just inside the previous day afternoon range, Broke out the range but headed straight in to the intermediate resistance zone. price action was suggesting weakness in Bulls, So trade plan was to SHORT from resistance. The SHORT worked out well, but got capped near opening range. After that no more trade opportunity as price was trading inside the range, not near any trade area.

Just 1 trade, Got 20 points per Lot

Monthly P/L = Loss of 2 Points Per Lot

SBIN

An awesome day in SBIN. Yesterday's vertical upmove has broken the intermediate sideways resistance. But today minor trend failed to trend above it, rather formed a minor range. A long was attempted when price tried to breakout through the minor sidewasy, but scratched as price fell back in to the range.. SHORT on failure on sideways breakout, and price fell beautifully to intermediate support. Cover SHORT near EOD.. While I was riding this paper trade was only thinking why the hell I did not take it in real..

I hope Tracetbullet must have pocketed handsome return today..

Started your Jun month with Profit!:thumb: Good one keep up the same!

LoneWolf · Jun 2, 2016

Date : 02 June 2016

Due to internet connectivity issue could not renew the GFDL subscription in time, so switched to my backup chart. Though I felt little primitive for manual trend calculation (as this has no way to mark text on chart) but managed for the day.

NIFTY opened near previous day close, and formed a minor sideways range just above the intermediate support. I was expecting a visit to intermediate support neat 165 - 170 and rejection for a LONG. But price broke through the minor resistance. No Long here as it was in the middle of the range. Price headed towards the intermediate sideways resistance and closed above it. No Trade day, SOH.

Hopefully tomorrow we will see a good continuation/BOF from this intermediate range breakout.

Could not paper trade SBIN for I was trading from this backup chart, Will see SBIN trades in evening.

TracerBullet · Jun 2, 2016

SBIN continues to trend well. Gap down and big red bar on open. I was looking for a break below 1H aggressive mpl 194.6. But no followup.
Then minor sideways for most of the day.
3m Minor trend was overlapping yesterday, In such trends we can trade minor trend reversal against 15m trend. There was no 15m ERL from yesterdays move, so entered long above upgraded VPH/HOD/199.
Entry triggered after more than an hour wait, gave slippage of 2 ticks. For first time i get into a move that runs well after Bigger Entry slippage ( generally get stopped out first ). Target hit fast, Move was vertical and pivotless so 2 bar trail. At the top i gave extra space and ignored 1 small bar, so kept TSL at effectively 3 bar trail. But SBIN didnt want to participate with Nifty and BNF - Hit my TSL in a sharp move

So 1H trend is intact for now although High is still far away. If it doesn't break, price may remain rangebound with volatility compression within yesterday's v reversal, lets c

TracerBullet · Jun 3, 2016

Loss day, 2 small losses
Today i was out of sync with chart for most of the day.
Price opened within VAH-VAL and rejected twice. I was looking for long setup as continuation of yesterday but didnt get any. Finally took short on pivot break below VPL. This failed. In this trade VWAP -1SD had taken a decent early entry and i had not taken it. So next trade took it. This failed immediately. Two back to back and quick losses - so took some time out. Didnt take any trade after return.

Throughout the day, We were in 15m Higher degree Sideways and lower degree downtrend. The LD trend was overlapping in morning, so in hindsight sell on rally were the trades that worked. Last swing worked nice and had two entry points in VWAP bands or later through mpl BO

Price is at Range low. 1H looks like H&S, 1H aggressive mpl is just below at 194.6, its break may run. Else price may continue ranging or compressing. Tuesday we have RBI interest rates event at 11:00

LoneWolf · Jun 6, 2016

Date : 03 June 2016

Friday was a minor loss day to me, but a very bad day from disciplined front.
Otherwise it would have turned a small profit day for me. My mistake was I bought by mistake, where I should have sold.

I did this mistake probably after 1 and half year. Definitely stress of trading is there and I failed to maintain my calmness and focus, for which this re-visited me after so many days..

Well time to say good bye to my old friends again, and focus on today's trading.

Will post the Friday's trading chart in evening.

TracerBullet · Jun 6, 2016

No Trade Today.
SBIN is in Sideways - Range within Range after v reversal. Price so far has not broken down, and is compressing. I was looking for a triangle compression before but its instead a rectangle range.

Today was almost reverse mirror of Friday ( See 15m chart from center). Trend was sideways and LD up overlapping for most of the day. So buy on dips worked ( This is only apparent later ). Found it hard to take any trade without clear bias. Was tempted to take BO/return trades at VAH but decided against it due to overlapping trend.

Tomorrow is event day, RBI interest decision at 11:00. Hopefully we will break out of this range and trend. Today was NR7, although slightly higher number for NR7.
1H looks like H&S or spike and range if it breaks down below 195-96
Also Daily is consolidating nicely below Weekly trend reversal point after initial BO failure. So even upmove, if it breaks recent highs may move well as Weekly Trend reversal/BPB

^k^ · Jun 6, 2016

TracerB,Pls have a look-
my SBIN trade on VWAP

http://www.traderji.com/general-trading-investing-chat/102010-vwapish-journey-2.html#post1161100

LoneWolf · Jun 7, 2016

NIFTY intraday Trades for 3 June 2016 (Friday)

During the 2nd SHORT I by-mistake went LONG, and paid for that.

NIFTY intraday trades for 6 June 2016 (Monday)

Minor sideways in a intermediate likely downtrend. Today for the 1st time I watched Oscillators while trading the range extremes. Here is how I did it, Since my trading bias was SHORT only from minor resistance, I waited for Stochastic to went overbought above 80. When it did that, I shorted the bearish divergence.

If anybody else are using or has traded oscillators during range days, then they can give suggestions for scope of improvement. I need to test this manually and need to see myself for what if a good trade can be made from sideways extremes but the oscillator is not overbought/oversold ?? So is it wise to wait always for oscillator to become oversold/overbought during range days ? Or just use plain price action near S/R to trade the extremes ?

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LONE WOLF's Trading Diary

TracerBullet

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TracerBullet

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TracerBullet

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^k^

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