My Trades

Thanks Dell bro for the suggestions, keep it coming. This is the advantage of forums :clapping:.

My expectation is very little from the market around 300-400 BNF points in a month. But doing this consistently is the real challenge.

I will write about other stuff i use later during the week. Also about how much effort is put into to be a successful trader inspite of having a day job.

Ok For August 28th this is the plan. Will be updating the same post, to have everything at one place.

I had to go long @15845.
Market opened higher than 15845. Waited for the first 5min candle to complete and then placed the buy order @15860 at the high of the first candle.
Order got executed at @15869.
Initial stop @15760.
Market moved in our favor and came back and consolidating. Moving the stops to 15800.
If the stops are hit, Long above days high or pivot and short below yesterdays low @15760
@12.30 PM Stoch is below 10. Looks like a pull back or consolidation is possible before moving further lower or higher.
@ 3.05 Moving the long to pivot @15835. Market might either flirt with 15835-15760 levels or take off on either side.
Shorts triggered near the end of the day. This is a high risk trade, as the pivot @15760 was not formed below the EMA. SAR @15835. Based on the opening on Monday will move the stops.

As stated in the first post, I am penning my trading thoughts as and when I am forced to a situation. For some it might look I am dynamically making up new stuff, which is not the case. I have a set of rules in the mind, which I will list sometime soon and try to follow the same.

Wishing everyone a every happy Ganesh Chaturthi. May the lord, help each of us in overcoming our obstacles in becoming successful traders.

Extraordinary rendition [goosebumps] - Maha Ganapathim Manasa Smarami by Sri K. J. Yesudas - https://www.youtube.com/watch?v=t6D48NQuiiQ

Closed the short position @15844 at market price. Did not wait for the first 5min candle to complete as the ticks where continuously going up due to good news over the weekend. Closed the position with a market order.
Did not reverse to longs because of the RSI & Stoch being over bought. Will look for longs above pivots or days high. Short below days low, because it would negate the initial bullish bias.
Went long at @16000 it was a pivot in 15mins. Initial Stop was at 15965, now moved to 16050.

Plan & Execution for Sep 2.

@9.30 - First 15min candle suggests a strong opening. Price made a new high. Moved the stops to 16080. RSI & Stoch are again in extreme overbought. However, BNF can still move 50-100 points up. Based on the Oscillators, most likely the market will be in a small range or go up with small candles or give a dip which will likely be bought. Will not look for shorts until a pivot is formed below 137 EMA.

@11.30 - Moved the stops to 16115, low of the day. As expected price is in a small range. Oscillators seem to have cooled down. Interesting to see what unfolds next.

@ 2.00 - Moved the stops to the low of the breakout bar @16170 .

@3.05 - Trailing Stop Loss hit. Not looking for longs above the pivot @16250 as the risk is almost 95 points, Pivot low is at 16155. Will wait for a better entry.

Sep 3.

@10.30 : No position so far. Will look for pivots, with smaller stops to go long. With the first bar being a big -ve bar, all the pivots we get will be inside pivots and longs will be at risk even though we get smaller stops. If the market can somehow take the days high it would be very strong bullish sign. On the other hand, taking out yesterday's low will not be good news for bulls.

@1.45 : Went long @16185, initial stoploss @16120. Moved the stops to 16155.

@around 2.0 had moved the stops to 16175. Stoploss was hit due to sudden fall.

As expected after big -ve bar in an upmove, pivots within the range of the first bar is always risky.

Sep 4:

@10.30. No shorts until a pivot below 137 EMA. For longs need a pivot with stoploss around 30-60 points. If today closes below yesterdays low, then we are either entering a downmove or sideways market for the next few days.

@6.50. Was not able to update due to busy schedule at office. Had placed a MIS buy order @16080, it got closed at 3.20 around 16115. Unless we take out BNF 16250 on the upside, we are in sideways market. If today's low is taken out tomorrow, then it is a very good confirmation that a downtrend has started. Let's see what the market has in mind .

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