Traderji.com


BNF Trading Dairy... Trying to become disciplined

Discuss BNF Trading Dairy... Trying to become disciplined at the Trading Diary within the Traderji.com; Hi All, This is my first thread in TJ. Intention of this dairy is to ...


Go Back   Traderji.com > METHODS & STRATEGIES > Trading Diary


Trading Diary Share and discuss your trading strategies here.


Reply
 
Thread Tools
  #1  
Old 5th April 2016, 04:51 PM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default BNF Trading Dairy... Trying to become disciplined

Hi All,

This is my first thread in TJ.

Intention of this dairy is to become disciplined myself + to get different views from seniors - so that i can correct my entry and exits in future...

First of all I will try to give my trading rules...

1. Purely intraday trades only BNF 1 Lot
2. Entry in the direction of 1H chart + MACD Histogram
3. Will enter once 20m chart is broken up/down
4. Will exit once there is a visual pivot break in opposite direction of trade in 2m chart.
5. Will book profit if there is a 40/50 point profit.

My problem is psychological. once I enter, Fear and Greed comes into play. Most of the time i exit with break even , the market rally in the direction of my trade. But if i wait the market just punish me...In order to make me stick to the rules this thread

Basically unable to follow the rules. So I have made these 4 simple rules and will try to follow next 10 trading days. and find out the result.

All seniors/fellow traders - Suggestions and Advises and Analysis MOST WELCOME


Thanks in advance to all


Advertisements

Reply With Quote
The Following 5 Users Say Thank You to Brill For This Useful Post:
Dr. A.K (11th April 2016), karthik_sri (6th April 2016), The Disciplined Trader (5th April 2016), TraderRavi (5th April 2016), vijkris (5th April 2016)
Advertisements
  #2  
Old 6th April 2016, 11:06 AM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default Re: BNF Trading Dairy... Trying to become disciplined

Not taking any trade. 1H macd histogram showing up. but price going down...
Reply With Quote
The Following User Says Thank You to Brill For This Useful Post:
vijkris (6th April 2016)
  #3  
Old 6th April 2016, 11:25 AM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default Re: BNF Trading Dairy... Trying to become disciplined

Entry at 15721. 20m breakout upside. (all tf macd histogram up)
SL 15674

Should break 1H high of 15745 for confirmation.

What should be my exit target?

SL modified to 15729

SL Hit! No loss no gain. Would have taken profit at 15760?

Last edited by Brill; 6th April 2016 at 11:57 AM.
Reply With Quote
The Following User Says Thank You to Brill For This Useful Post:
PUCHU_2500 (6th April 2016)
  #4  
Old 6th April 2016, 08:49 PM
Member
 
Join Date: Jun 2010
Posts: 270
Thanks: 357
Thanked 277 Times in 154 Posts
praveen98 is a jewel in the roughpraveen98 is a jewel in the roughpraveen98 is a jewel in the rough
Smile Re: BNF Trading Dairy... Trying to become disciplined

Quote:
Originally Posted by Brill View Post
Hi All,

This is my first thread in TJ.

Intention of this dairy is to become disciplined myself + to get different views from seniors - so that i can correct my entry and exits in future...

First of all I will try to give my trading rules...

1. Purely intraday trades only BNF 1 Lot
2. Entry in the direction of 1H chart + MACD Histogram
3. Will enter once 20m chart is broken up/down
4. Will exit once there is a visual pivot break in opposite direction of trade in 2m chart.
5. Will book profit if there is a 40/50 point profit.

My problem is psychological. once I enter, Fear and Greed comes into play. Most of the time i exit with break even , the market rally in the direction of my trade. But if i wait the market just punish me...In order to make me stick to the rules this thread

Basically unable to follow the rules. So I have made these 4 simple rules and will try to follow next 10 trading days. and find out the result.

All seniors/fellow traders - Suggestions and Advises and Analysis MOST WELCOME


Thanks in advance to all
Hi Brill,
Congratulations....This thread will be a nice motivator for you and can serve the purpose as Trading Journal also...
After seeing your rules....i want to ask some thing about your stop loss...it is clear from your rules that your profit taking exit is 40/50 points...what about stop loss exit....?
I think you are using Bracket order....if not try to learn about it as there is TSL feature also with that order type....(as you are a pure intra day trader)
Best Regards
Reply With Quote
The Following User Says Thank You to praveen98 For This Useful Post:
Brill (7th April 2016)
  #5  
Old 7th April 2016, 11:42 AM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default Re: BNF Trading Dairy... Trying to become disciplined

Could not take the trades today...as I had to go out for personal work.
Reply With Quote
  #6  
Old 7th April 2016, 11:48 AM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default Re: BNF Trading Dairy... Trying to become disciplined

Quote:
Originally Posted by praveen98 View Post
Hi Brill,
Congratulations....This thread will be a nice motivator for you and can serve the purpose as Trading Journal also...
After seeing your rules....i want to ask some thing about your stop loss...it is clear from your rules that your profit taking exit is 40/50 points...what about stop loss exit....?
I think you are using Bracket order....if not try to learn about it as there is TSL feature also with that order type....(as you are a pure intra day trader)
Best Regards
Thanks for encouraging words...

SL at present i am keeping the low of previous 20m candle. As and when the trade goes my way I modify it. Initial SL is very high with respect to my target of 40/50 points. But i don't know if this is right.

Need to learn more about bracket order.

Could not take any trade today(gone out for personal work)

Thanks
Reply With Quote
The Following 2 Users Say Thank You to Brill For This Useful Post:
praveen98 (7th April 2016), vijkris (7th April 2016)
  #7  
Old 7th April 2016, 09:17 PM
Member
 
Join Date: Jun 2010
Posts: 270
Thanks: 357
Thanked 277 Times in 154 Posts
praveen98 is a jewel in the roughpraveen98 is a jewel in the roughpraveen98 is a jewel in the rough
Smile Re: BNF Trading Dairy... Trying to become disciplined

Quote:
Originally Posted by Brill View Post
Thanks for encouraging words...

SL at present i am keeping the low of previous 20m candle. As and when the trade goes my way I modify it. Initial SL is very high with respect to my target of 40/50 points. But i don't know if this is right.

Need to learn more about bracket order.

Could not take any trade today(gone out for personal work)

Thanks
Hi Brill,
Yes ...wrt your target...your initial stop losses will be wider ...i don't think that is right....Have you back tested your system? Please back test so that you can trade it with confidence in live trading sessions...
Try point and figure charting, if you are interested in trying other type of charts too apart from candle stick and bar charts...
Please go through this link to learn more about Bracket orders...
http://zerodha.com/z-connect/tradeze...ng-stoploss-sl
Best Regards
Reply With Quote
The Following User Says Thank You to praveen98 For This Useful Post:
Brill (8th April 2016)
  #8  
Old 10th April 2016, 12:34 PM
Member
 
Join Date: Nov 2011
Posts: 431
Thanks: 607
Thanked 398 Times in 199 Posts
Brill is just really niceBrill is just really niceBrill is just really niceBrill is just really niceBrill is just really nice
Default Re: BNF Trading Dairy... Trying to become disciplined

Though Friday was an inside day for BNF, could get 38 points.

Praveen Bhai, I had gone thru P&F chart earlier. but could not understand it, also intraday I could not find any. So thought that it is for positional. But after reading posts in thread http://www.traderji.com/advanced-tra...nalysis-1.html i could grasp some points. i will further study the charts with Kite from Zerodha. Pi is not showing it correctly(for me).

Thanks...

Last edited by Brill; 10th April 2016 at 12:41 PM.
Reply With Quote
  #9  
Old 10th April 2016, 09:07 PM
Member
 
Join Date: Jun 2010
Posts: 270
Thanks: 357
Thanked 277 Times in 154 Posts
praveen98 is a jewel in the roughpraveen98 is a jewel in the roughpraveen98 is a jewel in the rough
Smile Re: BNF Trading Dairy... Trying to become disciplined

Quote:
Originally Posted by Brill View Post
Though Friday was an inside day for BNF, could get 38 points.

Praveen Bhai, I had gone thru P&F chart earlier. but could not understand it, also intraday I could not find any. So thought that it is for positional. But after reading posts in thread http://www.traderji.com/advanced-tra...nalysis-1.html i could grasp some points. i will further study the charts with Kite from Zerodha. Pi is not showing it correctly(for me).

Thanks...
Hi Brill,
Good that you made some profit on a sideways day like Friday.....If you are comfortable with the present charting technique you are using, that is enough...but if you want to learn about a new technique like pnf it takes time and effort...To understand intricacies of pnf, manual charting is the best way .....Around 6 months back i tried pnf charts of pi and kite but i am not happy with the quality as both pnf charts did not give any scope for user customization like box size....what is the present scenario in Kite and pi now..i don't know....If you need to learn basics of pnf please go through the following links...
http://stockcharts.com/school/doku.p...rts:pnf_basics
http://stockcharts.com/school/doku.p...pnf_trendlines
http://stockcharts.com/school/doku.p...sis:pnf_charts
Best Regards
Reply With Quote
The Following User Says Thank You to praveen98 For This Useful Post:
Brill (11th April 2016)
  #10  
Old 11th April 2016, 07:30 AM
Member
 
Join Date: Jun 2010
Posts: 270
Thanks: 357
Thanked 277 Times in 154 Posts
praveen98 is a jewel in the roughpraveen98 is a jewel in the roughpraveen98 is a jewel in the rough
Smile Re: BNF Trading Dairy... Trying to become disciplined

Hi Brill,
Here is pnf chart of 5X3 HL of Friday's price action....



The pnf chart of 10X3HL of Friday's Price action



Both the above charts are based on 1M data...

Wish you a nice and profitable trading day

Advertisements

Reply With Quote
The Following User Says Thank You to praveen98 For This Useful Post:
Brill (11th April 2016)
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: BNF Trading Dairy... Trying to become disciplined
Thread Thread Starter Forum Replies Last Post
Day Trading ( Disciplined ) The Disciplined Trader Trading Diary 157 20th December 2013 06:29 PM
Trading Dairy - IF internet_fanbboy Trading Diary 77 15th April 2013 03:29 PM
my trading dairy friendforevers0007 Day Trading 6 16th October 2012 10:12 AM
Sai Trading Dairy jsb2012 Trading Diary 0 22nd July 2012 03:13 PM
*$* Trading Tiger, Disciplined Dragon *$* Avataar General Trading & Investing Chat 0 4th December 2011 10:57 PM


All times are GMT +5.5. The time now is 04:26 PM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70