Journey of an Intraday NIFTY Trader with 5 Lakh Initial Capital - REAL TRADES

[milkyblack]

Today 2 trades. Both long trades.

 

[siddhant4u]

Today 2 trades. Both long trades.

happened similar thing with me few days back. stop loss hit twice only to see script going my way...

 

[milkyblack]

happened similar thing with me few days back. stop loss hit twice only to see script going my way...

View attachment 38148

Yes part of the game. Should just forget about it and move on to the next trade. Breakout trading system has a low hit rate, so have to live with it.

Right now it's not that bad, will get worse too.

 

[siddhant4u]

Yes part of the game. Should just forget about it and move on to the next trade. Breakout trading system has a low hit rate, so have to live with it.

Right now it's not that bad, will get worse too.

in breakout, should we wait for close of candle? I have taken trades based on break of trendline and seen the candle close below the line after executing trade On other hand, if I wait sometimes breakout is so huge it feels like chasing price..

 

[milkyblack]

in breakout, should we wait for close of candle? I have taken trades based on break of trendline and seen the candle close below the line after executing trade On other hand, if I wait sometimes breakout is so huge it feels like chasing price..

Trading patterns has this drawback, as patterns are confirmed only after a bar which closes outside the pattern. But then you have to take a call accordingly, no strategy can give you 100 percent trades which will be in green and breakout strategies has a high rate of fail trades.

One thing I realized is that you need to have some supportive people (if others are traders even better) around you who can motivate you during your down times. If one does not have that then it becomes a big issue. Also traders I have seen have a sense of pride in them, and do not like to talk about losses and claim that they have always been profitable. Big businesses with great minds who run a company goes through a tough phase, big traders have bad times, you name anything which has become big did not go through a bad phase? But then there are other set of traders, eternally profitable ones.

 

[MSN1979]

in breakout, should we wait for close of candle? I have taken trades based on break of trendline and seen the candle close below the line after executing trade On other hand, if I wait sometimes breakout is so huge it feels like chasing price..

I would second that If you wait for candle close its not worth it, your SL is too far away then after entry. Usually trend will exhaust soon and your sl will hit.

What I have seen is most breakout traders enter at breakout. People who are swinging or positional wait for candle close. If trade fails after breakout and many scalpers scratch others hold till PL.

PS: this info is limited to what I have observed with a few traders I have seen trading

 

[TraderRavi]

One thing I realized is that you need to have some supportive people (if others are traders even better) around you who can motivate you during your down times. If one does not have that then it becomes a big issue. Also traders I have seen have a sense of pride in them, and do not like to talk about losses and claim that they have always been profitable. Big businesses with great minds who run a company goes through a tough phase, big traders have bad times, you name anything which has become big did not go through a bad phase? But then there are other set of traders, eternally profitable ones.

But how this matters to us Milky bhai ? If so many people claim that they hardly lose and its always green in ledger , why it should affect us ? Let them boast, we have to take care of our trading , only that matters.

 

[milkyblack]

But how this matters to us Milky bhai ? If so many people claim that they hardly lose and its always green in ledger , why it should affect us ? Let them boast, we have to take care of our trading , only that matters.

True it should not matter, but why do people come to the market? Is it because of the failure stories or because of success stories? Is it because of the pleasure without the pain or pleasure accepting the pain?

I read your signature about consistency, I am sure this you must have understood it over the time being in the markets, and you are one of those very few who have realized it.

 

[VJAY]

True it should not matter, but why do people come to the market? Is it because of the failure stories or because of success stories? Is it because of the pleasure without the pain or pleasure accepting the pain?

I read your signature about consistency, I am sure this you must have understood it over the time being in the markets, and you are one of those very few who have realized it.

Most of people trading for excitement only mb
They only want winning trades...in reality it's not there...most of successful traders winning rate is below 50%.thats how trading works..but here all want 100% ...

Sent from my ASUS_X00TD using Tapatalk

 

[milkyblack]

Today's trade - one short trade 525 qty