LONE WOLF's Trading Diary

Rest in Peace.

Take care

Happy new year 2017 to all the members of TJ.

A fresh start, infinite possibilities. The secret of getting ahead lies in getting started. I am starting over with a new pattern of thoughts, a new wave of emotions, a new connection to the world and a new belief system in myself.

Good luck to me and everyone too..:thumb:

Wishing you All the BEST!

Date : 02 Jan 2016

Just one trade today on AXISBANK.



Intermediate trend was uptrend and primary trade direction was LONG. But AXISBANK broke the minor sideways from last trading session on downside and gave a good counter trend SHORT opportunity.

After 2 PM minor trend reversed in to an uptrend but it was close to intraday square off time, and i did not attempt any LONG trade.

Total trade = 1
Trade risk = 0.5R
Net P/L = 0.7R

Date : 03 Jan 2017

A bad day today, as I missed a LONG setup in AXISBANK, and whatever trade I caught on SBIN and TATASTEEL was scracthed as they did not work out as expected.



SBIN started on a promising note as a continuation to previous day's downmove, and I took a sHORT below 1st 5m bar low, but price reversed immediately by trapping the SHORT traders. I scratched.



TATASTEEL gave correction after previous day's strong upmove. I was looking for buying on minor uptrend. But minor uptrend failed to gain momentum and price made a doji candle after the entry. Scratched the LONGs



This was a wrong trade setup, not as per my trade plan, I took it mistakenly.

Over all 3 trades
Daily P/L = -1.5R
Net P/L for the month = -1R

any info on wrong trade setup.. and mearning of R..

That was not an ideal breakout trade that I would like to enter, And in fact it turned out to be a failed breakout. I entered for I was little biased to have a good LONG setup, which made me blind to observe what is really happening.

R is risk, A profit or loss of XR means profit or loss of X multiple of the risk that I take per trade. Its the trade risk.

hi,very nice presentation.
i went thru some pages of this thread and i liked it vry mch.

smetym we hv 2 undrstnd th nature of scrips we r trading.
the way we trd nf,we cant trd bnf dat way,right?

see,few scrips respcts pivots very well.bt few r nasty enugh 2 giv ya false bo-bd.
some trds well on mPH and some gives nice trds on vPH(bt fails on mPh).
this is wht i undrstnd so far since lst few yrs of loosing-making period.

so pls stick wid only Axisbank(instd of vedl,sbi) for jst 1 mnth,u will b profitble in a long run.
this is jst my opinion.

This post of yours was the toughest one for me as i am not yet used to so much of sms words. Anyway i agree with your points as well.
Some scrips are really nasty and do not follow mph, vph etc,.

Myself and TracerBullet as well have been trading in SBI and i personally think that SBI respects pivot, mph etc.