TaiChi Swing Trading Journal

Hello Everyone,

After a break from live trading and much experimentation with higher timeframe trading, I am getting started here again, with my swing trades. Views/opinions, encouragement/criticism are welcome.

Starting off this thread to record my picks & views on EOD based swing trades. I will be tracking NIFTY, BANK NIFTY and will also include other stocks as my time permits to track them.

Regards
Taiki

Welcome back Taiki. All the best!!

Will be very interested in NIFTY and Bank NIFTY..
Good Luck :thumb:

EOD Update - 5 Aug 2014

NIFTY

bouncing off the day's low and closing at the high with above average volume and above average daily range, indicates bullish strength. On top 7830 is a strong resistance zone, above which 7900-8000 is more likely to be tested.

Long on NIFTY fut at 7750, Stop loss below today's low. (May exit early if trade premises get invalidated).

BANK NIFTY

Trend is still neutral (sideways). consolidating in a range. Wait and watch. No position.

TATASTEEL

TATASTEEL is a long above 566, with a stop loss below 545. The trade will be probably triggered tomorrow, if TATASTEEL trades on a positive note. If NIFTY long trade works good, then I wont take the TATASTEEL trade, but will manage it on paper for future reference.

Regards
Taiki

EOD Update - 6 Aug 2014

NIFTY

Exited the long on NIFTY FUT at 7715, At a loss of 35 points. Trade premises failed to work. Now no positions in NIFTY, need to wait for the trend to get clear.

BANK NIFTY


BANKNIFTY seems weak, and the consolidation may drag BNF down to 14500-14400 levels. Taken short position in BNF fut at 15150. Stop loss 15350. SL is bit wider, But if the trade works out, the reward will be bigger too.

TATASTEEL

TATASTEEL has negated the long trigger, and currently, wait and watch for TS.

The 1st swing trade went for a loss, But this is just a part of the game. Need to be more selective on trades and instruments.

Regards
Taiki

Welcome back and All the Best !!

EOD Update - 7 Aug 2014

NIFTY

NIFTY is looking bearish as of now. No position in NIFTY FUT, Need to wait for a signal

BANK NIFTY


Carrying short position in BNF Fut, CMP = 15066. SL was tighten to 15300.

TATASTEEL

TATASTEEL is trading in a congestion. Need to wait for a clear trend to be established first.


Regards
Taiki

@Taiki

Welcome back to the border. Hope you do well. You now have started to test bigger TF, as I guess you are busy with other things some times.

Bigger TF need different trading plans. Did you work out one you back tested? If not, take it easy with investing any money in any trade. Just slowly.

What about posting charts with basic informations you may look at? Only an idea.

Take care / Dan

Hello Dear Dan Bro,

Nice to see you again. I am doing well, I hope everything is good on your part as well.

Yes, now since I am busy with few other stuffs in life have switched to EOD trades on daily chart, keeping weekly chart as a parent frame. I have backtested it for past 3 years, on NIFTY, BANKNIFTY, and on few liquid stocks like TATASTEEL, SBIN, BANKBARODA, RELINFRA etc.. And its still continuing for more stocks as well.

But when I started live this week, i felt things are becoming little different on trade management and tracking part because of other active tasks at hand (since during weekdays hardly I am getting 1 hour for this interest), and hence I feel picking out stocks randomly may nt be a good option here.

So here is how I am planning my next week. During weekends I will spend 5-6 hours for filtering out 5-6 stocks which will be near key trade areas or at least showing potentials to move or triggering a trade, and then during the coming week, i will be focusing on only those selected stocks/indices.

And, yeah I will post charts as well, as things get going.

Regards
Taiki

Moving the SL to break even. Entry was made at 15150, Current SL = 15140. CMP = 14800. Will look at the position again during the closing hour.

Regards
Taiki