Finding the path to my Successful Trading System

#1
Hey guys, this is my 2nd attempt here to track my own journey.

here is my first trial and I couldn't follow it for some personal reasons. I will make sure this time it will be different and I'll share my journey regularly. Main purpose of this thread is to track my journey towards a successful System development.

What's Changed

I understand I am nowhere near a successful trader and I lack so many things and I have many obstructive traits that are stopping me to become a profitable trader. I think this new understanding pushes me to towards the right direction.


A little about my style

As I am a discretionary trader, I am unable to do backtest my strategy and to be frank, I don't have a single strategy. I am following the S&D with finding traps and trade them.

So far I have nailed down a few and basic rules to follow and failed miserably to follow them on my first day itself :). Anyway here are the basic rules I have and as time progress, I will add more rules as I fine-tune my system according to my psychology.

RULES

1. Take no more than 1-2 trades per day
2. 100rs risk per trade
3. Alway lose less and gain more( focus here is don't book less than 1R profits when your trade is successful)
4. I'll halt my trades if I hit 40% drawdown



GOAL

1. Basically doubling the capital (I don't care how much time it will take)
2. Find out repeating mistakes in my trading behavior
4. Updating here regularly ( my approach here is baby steps, I will make sure I'll update this journey for this MAY month)

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Total Number of Days not followed the rules(so far): 1

Starting CAPITAL=>10000rs

Daily Updates

Month May (Below updates are brokerage inclusive)

Day1 => P/L :123 => Capital :10123
Day2 => P/L : => Capital :
Day3 => P/L : => Capital :
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#4
Day2

Things I followed

1. Took 1 trade
2. Booked good profits

I'm Unable to edit the first post, I'll be updating P/L status on each post henceforth

Day2 => P/L : 172 => Capital : 10295
 

Attachments

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#5
Day3

Things I followed

1. Booked small losses
2. Booked big profits

Things I didn't follow

1. I took more than 2 trades(2nd trade by mistake I exited in between, but still I violated the 2 trades rule)

Day2 => P/L : 212 => Capital : 10507
 

Attachments

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bunti_k23

Well-Known Member
#7
iam following your thread......best wishes
 
#9
Your system looks pretty impressive. I like how serious you are about all this, very good work. I think you're gonna make a really great trader. You're also good at protecting your deals from unnecessary risks, which is probably the most important rule of a profitable trader. Good luck to you, keep writing! :)
 

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