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BNF Trading Dairy... Trying to become disciplined

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  #11  
Old 11th April 2016, 02:09 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

Today all messed up. The down movement was entered late, assumed it will go down as the IB breakdown but bounced back. Out with a loss of 23 points( SL helped )

market does just reverse of what my view is. This is also a good strategy i think


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Last edited by Brill; 11th April 2016 at 03:08 PM.
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  #12  
Old 11th April 2016, 03:48 PM
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Smile Re: BNF Trading Dairy... Trying to become disciplined

Quote:
Originally Posted by Brill View Post
Today all messed up. The down movement was entered late, assumed it will go down as the IB breakdown but bounced back. Out with a loss of 23 points( SL helped )

market does just reverse of what my view is. This is also a good strategy i think
Hi Bril,
Yes...to day is a difficult day.... and by sticking to discipline like placing SL is a good quality...Please main that good quality, in early days of my trading i used to fear to place the SL...but learnt the lesson hard way..after taking big hits...
Stop loss hits are part and parcel of trading..cheer up
Keep it up and i described about a special pnf pattern(today's price action only)...please visit the link below when you have time...(post no:105)

http://www.traderji.com/advanced-tra...-point-figure-
chart-analysis-11.html
Best Regards
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  #13  
Old 13th April 2016, 03:13 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

Hi,

Today missed the entry in morning and was reluctant to enter in the middle or when there was a small correction in BNF. So decided to just keep analysing live.

Gone thru the Point and figure charts, with only price movements it seems very simple.


Need to build a system based on P&F charts.

Zerodha Kite p&f chart seems ok though there is no option to configure it as said by Praveen bhai. Only thing you can do is change the TF.


Few Points Came out of Analysis for Self Affirmation.
1. If the System gives a signal I have 2 choice. Enter or Keep out of market.
2. Put SL in each and every trade, the moment you enter the trade. To protect capital.
3. If Not confidant of a trade, just watch how the market turn out.(and this was always a winning trade)
4. Believe in your System, SL and Target.
5. The market will be there always and new signals will come.

Took stock of journey so far...Capital is down by 30%
(this has happened mainly because of reluctance to put SL. Strong belief that my trade can not go wrong. )



So if i could make atleast 0.5% per day, 60 trading day can makeup the losses.

Is it achievable?

But important thing is minimising the Loss per Trade. So each and every trading day seems important now onwards...
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  #14  
Old 14th April 2016, 08:04 AM
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Smile Re: BNF Trading Dairy... Trying to become disciplined

[QUOTE=Brill;1151096]Hi,


Gone thru the Point and figure charts, with only price movements it seems very simple.


Need to build a system based on P&F charts.

Zerodha Kite p&f chart seems ok though there is no option to configure it as said by Praveen bhai. Only thing you can do is change the TF.

Hi Brill,
All the best for your wish to build pnf trading system...
I just wanted to tell you some points about Pnf out of my experience as pnf chartist...
1.Box size and reversal size are the two important variables at the disposal of pnf chartist and inability to change them according to chatist's idea severely hampers one's prospects of pnf trading. That way kite pnf charts are of not much use to a pnf chartist trader.
2. For a pnf chart the Time frame is in Box size not in minutes....if you increase the box size you are increasing time frame of pnf chart...Think about it..you will get my point....The charts i previously posted in this thread are all based on same data with different box sizes....that is why ideal way of plotting pnf is by tick data....but for convenience i am using 1M snapshot data..

By the way Trade point plus is a pnf software...and i read somewhere that they are offering it for free with RT data,but i am not sure whether that offer is still there..try that one if you wish and it is still available..Define edge solution is the company name...
All the Best

Last edited by praveen98; 14th April 2016 at 08:14 AM.
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  #15  
Old 14th April 2016, 12:31 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

Hi,

Many people across the different culture celebrate April 13/14 As their New Year


WISH YOU ALL VERY HAPPY, HEALTHY AND PROSPEROUS NEW YEAR.


Assamese New Year, or Rongali Bihu (Northeast India)
Bodo New Year, or Bwisagu (Northeast India)
Burmese New Year, or Thingyan (Burma)
Kodava New Year, called Edmyaar 1 or Bisu Changrandi, (in India's Karnataka state)
Khmer New Year, or Chol Chnam Thmey (Cambodia)
Lao New Year, or Songkan / Pi Mai Lao (Laos)
Malayali New Year, or Vishu (India's Kerala state)
Odia New Year, or Maha Vishuva Sankranti (India's Odisha state)
Nepali New Year, or Bikram Samwat / Vaishak Ek (Nepal)
Punjabi New Year, or Vaisakhi (India/Pakistan)
Sinhalese New Year, or Aluth Avurudda (Sri Lanka)
Tamil New Year, or Puthandu (India's Tamil Nadu state and Sri Lanka)
Thai New Year, or Songkran (Thailand)
Tuluva New Year, or Bisu (India's Karnataka state)
Maithili New Year, or Jude Shital (Mithila)
West Bengal New Year called Pohela Boishakh

Ref : https://en.wikipedia.org
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  #16  
Old 18th April 2016, 05:09 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

Messed up again...

Lack of mental discipline...

No idea how to overcome this.

When ever there is a move in my direction i am out of the trade early.

Exit with break even... Over traded so in red because of Brokerage and Charges.
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  #17  
Old 19th April 2016, 12:46 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

How to avoid overtrading? Any idea

One way is to trade longer TF. Will use 20m TF which i feel is more reliable for BNF.

But need to find some way to put shorter SL which is also reliable...
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  #18  
Old 23rd April 2016, 04:57 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

My thoughts...

While comparing the 20m candle chart and the P&F chart most of the time reversals coincides with each other. So for the time being concentrating on 20m bar chart. To avoid the large SL, need to do some back testing with the 5m chart.

From monday onwards will look into 20m tf and 5m tf for trades and also 1h tf for market trend.

Until the break even happen, small profits(40 points in BNF) will be the target and avoid big losses. Small losses can be recovered same day or next day.

Will draw horizontal lines at previous day important points will act as reference points.

As of now BNF is in uptrend(after budget) and all pull downs were buying opportunities. How it will pan out in the expiry week and with the May series is to be seen.
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  #19  
Old 25th April 2016, 01:09 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

BNF getting ready to move up. +ve divergence in 5m chart MACD Histogram

Tight SL helping to preserve capital... still down by 30%

Need 15% to win Z60D challenge...Hopeful of making it in next 20 days...

Last edited by Brill; 25th April 2016 at 04:31 PM.
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  #20  
Old 28th April 2016, 01:38 PM
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Default Re: BNF Trading Dairy... Trying to become disciplined

Could not trade today for fear of lossing. Need to discard greed and fear. So will backtest one strategy today with April BNF data and apply this in May with out fear.

Which strategy can give consistant profit in long term? need to find out. So will test with the visual pivot first on 5m chart.

Will get out of trade once i get a small profit and close down the terminal to avoid over trading....this will also calm down the greed factor

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