Intraday Trading

[bashasm]

View attachment 38668

Please check this

After the market I feel even failed breakouts/breakdowns shall be traded in the opposite direction, only thing is it should be properly analyzed in the live market

 

[TradingFloor]

Please check this

After the market I feel even failed breakouts/breakdowns shall be traded in the opposite direction, only thing is it should be properly analyzed in the live market

Story of my life, I think all most all my trades suffer from fake breakdown and then they move in same direction of the trade.
I don't think there is a solution to this, you have to live with it. Drive a system that includes such setups

 

[bashasm]

In fact, today crude played in that range and break down after a lot of time

 

[TradingFloor]

Summary: Correct Trade, there was strong momentum and PA present to take that long, the guy who did not let the price go up further must be reading these kind of post and laughing at us but what can be done, seems like someone put a halt there after entry. This makes me wonder ITC could be one of the toughest scrips to trade for intraday as it does not give much scratching opportunities.

Pre market open: Minor Positive Flat open, My bias is very bullish considering PDL did not break yesterday and price is holding at same level. I see some strong BO today ( But this is just a bias and could change with blink of an eye, if price starts making negative side move)

 

[TradingFloor]

Out for some work, will resume trading soon.

 

[PUCHU_2500]

Please check this

After the market I feel even failed breakouts/breakdowns shall be traded in the opposite direction, only thing is it should be properly analyzed in the live market

1. WE ARE NOT EXPERT, WE CAN NOT SELL AT NEAR DAY'S HIGH NOR BUY AT NEAR DAY'S LOW
2. WE CAN NOT TAKE ONE SIDED EXTREME MOVE (WHATEVER IT MAY BE BREAKOUT OR BREAKOUT FAIL)
3.WE HAVE NO CONTROL IN UP OR DOWN SPIKE
4. WE CANNOT TAKE ALL WINNING TRADES IN A SINGLE MONTH
THEN WHAT WE CAN TAKE OR WHAT WE CAN DO IN INTRADAY ?
1. WE CAN CATCH JUST ONE OR TWO SMALL MOVE IN A DAY
2. AND WE CAN PLACE ONE REASONABLE SMALL STOP LOSS
3. WE CAN PLACE TARGET DOUBLE/TRIBBLE OF STOP LOSS
4. WE CAN TAKE 10 TO 14 WINNING TRADES AND 8 TO 10 LOOSING TRADES IN A MONTH
I AM STRUGGLING WITH THESE CONCEPTS
ASCHA LAGA THO THIK HA NAHIN LAGA THO BHI THIK HAI

 

[bashasm]

1. WE ARE NOT EXPERT, WE CAN NOT SELL AT NEAR DAY'S HIGH NOR BUY AT NEAR DAY'S LOW
2. WE CAN NOT TAKE ONE SIDED EXTREME MOVE (WHATEVER IT MAY BE BREAKOUT OR BREAKOUT FAIL)
3.WE HAVE NO CONTROL IN UP OR DOWN SPIKE
4. WE CANNOT TAKE ALL WINNING TRADES IN A SINGLE MONTH
THEN WHAT WE CAN TAKE OR WHAT WE CAN DO IN INTRADAY ?
1. WE CAN CATCH JUST ONE OR TWO SMALL MOVE IN A DAY
2. AND WE CAN PLACE ONE REASONABLE SMALL STOP LOSS
3. WE CAN PLACE TARGET DOUBLE/TRIBBLE OF STOP LOSS
4. WE CAN TAKE 10 TO 14 WINNING TRADES AND 8 TO 10 LOOSING TRADES IN A MONTH
I AM STRUGGLING WITH THESE CONCEPTS
ASCHA LAGA THO THIK HA NAHIN LAGA THO BHI THIK HAI

Puchu Bhai rightly said.

I think it is all in the execution, with some positive expectancy anyone can win in the long run

My problem is I am not able to trust the system and in the process of creating/finalizing something, once that happens and I am able to trust something, then it will be clear for me.

Thanks for your advice

 

[TradingFloor]

1. WE ARE NOT EXPERT, WE CAN NOT SELL AT NEAR DAY'S HIGH NOR BUY AT NEAR DAY'S LOW
2. WE CAN NOT TAKE ONE SIDED EXTREME MOVE (WHATEVER IT MAY BE BREAKOUT OR BREAKOUT FAIL)
3.WE HAVE NO CONTROL IN UP OR DOWN SPIKE
4. WE CANNOT TAKE ALL WINNING TRADES IN A SINGLE MONTH
THEN WHAT WE CAN TAKE OR WHAT WE CAN DO IN INTRADAY ?
1. WE CAN CATCH JUST ONE OR TWO SMALL MOVE IN A DAY
2. AND WE CAN PLACE ONE REASONABLE SMALL STOP LOSS
3. WE CAN PLACE TARGET DOUBLE/TRIBBLE OF STOP LOSS
4. WE CAN TAKE 10 TO 14 WINNING TRADES AND 8 TO 10 LOOSING TRADES IN A MONTH
I AM STRUGGLING WITH THESE CONCEPTS
ASCHA LAGA THO THIK HA NAHIN LAGA THO BHI THIK HAI

Very well said PUCHU_2500.

 

[TradingFloor]

After Trading my system for 24 days without a flaw, I broke my system on Friday. I failed at my challenge to be consistent for 1 month by 6 days. So my rule was I could make mistakes but I should not break my system or else I will pause Trading. I will re attempt this challenge again but after a break. I will continue in the same thread. My Closing stats:

Summary:

1. I closed with a loss of negative 455 INR/- which is down approx 3%. I am writing this as my first learning since this is my most important and primary Objective apart from being consistent with system ( In which I have failed).

2. Out of 23 trades 7 trades were profitable. which gives me a win rate of 30% approx. I should attempt to increase the win rate in my next attempt.

3. This is the first time I have maintained a trading Journal properly without any errors. It gives me great insight to my trades. Also I have posted all my trades on this thread without fail. This has given me a chance to go back and check the mistakes I have done. This has been really helpful. My sincere thanx to TJ for providing this platform. Also to Swagat N who posted his trade Journal on his thread.

4. I have traded various scrips like TS AB SBIN but I found ITC to be a very tough scrip to trade. It could have been a very bad phase for ITC as it was sideways most of the time this month. It gave some ballistic moves in one direction and I was able to catch a few but most of the times it kicked me out before moving again.

5. Trading a single scrip has its disadvantages, for example a scrip cannot trend all the time. It would be better to pick up high momentum scrips every day rather then to trade 1 scrip. Also I can test this on other scrips which have momentum to see if the results can be improved.

6. When a multiple time frame breakout happens at the same time, there is some uni directional move ( it can be a small or big) but as per my back testing it does move some pips after entry. This could be a High Reward small risk trade

7. Range breakouts are great if direction is clear and we trade in right direction.

8. We must exit at the reason for our entry. This is the only good thing I have done in last 23 days. I did not have 2 minds about my SL. I entered and I exited at my reason.

9. If I could avoid Sideways Trades I could become profitable, near the end I avoided sideways.

10. I should not be bullish or bearish ( I should be where markets are going). I should avoid entering trades after a trade has failed. 9 out of 10 times it will fail again. So I can afford to miss that trade.

11. Finally, I hope to be consistent in my next attempt. I would be back testing and making few improvement to my methods, Until then Ciao from here. I would be back next week to attempt the same challenge again.

 

[TradingFloor]

I have finished back testing From Monday , Dec 2 will start the challenge again. With little bit of improvement in selection of Trades and using multiple random scrips for trade selection. Will start the challenge again with 15k capital. For 1 month I will try to be consistent with my strategy and will keep posting till Dec 31.

Aim:

1. Try to be consistent with the strategy
2. Try to be profitable.
3. Max 2-3 trades in 1 day
4. Max 1 % loss per trade
5. Post my Trades everyday with PnL log book and weekly monthly report.