HAPPY's Trading Dairy

[Happy_Singh]

BNF may get support @ 11425 from open gap region

R @ 11500, so stops just above that . . .


Happy

 

[Happy_Singh]

We all know that a major part of trading is accepting losing trades . . .
but another aspect which is not much discussed is getting bored . . .

most of us would over-trade due to this boredom . . .

for e.g. BNF took support from the gap . . . as clock work . . . now what

part-profit booking done on the intraday short, TSL moved and in place . . .
SL in place for the swing trade and then do what ????


The mind chatter goes on & on . . .

Try some long scalps off the support area,
or do some unplanned trades . . .
do i shift the target for intraday from xx350 to 400 . . .
man . . . USDINR seems to be trending . . . .
trying just 5 lots on it won't hurt, what can go wrong

No, just make a post on TJ & sit tight

on & on . . . .


Happy

 

[timepass]

We all know that a major part of trading is accepting losing trades . . .
but another aspect which is not much discussed is getting bored . . .

most of us would over-trade due to this boredom . . .

for e.g. BNF took support from the gap . . . as clock work . . . now what

part-profit booking done on the intraday short, TSL moved and in place . . .
SL in place for the swing trade and then do what ????


The mind chatter goes on & on . . .

Try some long scalps off the support area,
or do some unplanned trades . . .
do i shift the target for intraday from xx350 to 400 . . .
man . . . USDINR seems to be trending . . . .
trying just 5 lots on it won't hurt, what can go wrong

No, just make a post on TJ & sit tight

on & on . . . .


Happy

This is what leads to what Ravi aptly described as "Ungal" trades..

 

[Happy_Singh]

Nice day today, caught a v good short trade . . .

There are 2 reasons i could catch that trade . . .

First is I was already short on the swing system from last session and second is was ready to take it at open . . .

Price action after yesterdays short was not very convincing for us to carry it overnight

The cost of the first trade//initial entry into a new trend is always high . . .
in today's scenario the recent high was not far off and probability of gaping above it was always present

Compared to that the short at opening bar today carried a very small risk of being stopped at HoD

Lesson:
1. Adjust MM so that these high probability scale-in with smaller stops are traded with 2/3rd qnty and initial trades are taken with 1/3.
2. Take all the initial trades and do not use any discretion for either entry or in decision to carry to next session


Happy

 

[Happy_Singh]

Hello

BNF Short @ xx410 SL xx460



.

 

[Happy_Singh]

stop now moved xx430 above 2nd bar ( 10 mins chart)

the entry signal was below first bar i.e. xx420

yesterdays range should give some support now we have to see if BNF can break yesterdays low . . .

 

[Happy_Singh]

Booked the intraday trade, while letting the swing trade flow

I don't know why it is so, but the pleasure one gets in fading the move is totally disproportionate to the rewards

Happy is more happy with the 100 points gain on the intraday trade by shorting the gap-up than with the swing trade that is making x3 . . .


.

 

[Happy_Singh]

BNF:

can look for long trade now, excuse is BDF trade, failure at yesterdays lows

 

[Happy_Singh]

Swing shorts also booked . . .

But will look to go long above xx400

Note: booked bnf short looking at the Nifty trend, they will not keep going in opposite direction . . .

 

[Happy_Singh]