Keep It Simple - My Trading Dairy

Hi All,

Disclaimer : This thread is my trading dairy and not a recommendation or financial advice to anyone as I am not certified to do so. If anyone want to learn trading on the basis of this, Feel free to do so but any financial loss/gain is his/her responsibility as you are taking your own decisions.

Rules I follow :
  • I usually trade on the basis of technical analysis and my view are only for short term trades i.e. 1-2 days to 1 weeks time. I use daily and hourly time frame charts for placing and exiting trades.
  • I trade in Futures segment only and that too in equity only i.e. No index trading but I do follow Nifty50 and BankNifty to gauge the overall market sentiments.
  • I believe that overall sentiments are also mandatory to along with price action to guess the market direction and movements.
  • Strict and well defined Stop-loss, Targets and entry point is must for every trade before placing it onto exchange.
  • I do not believe in complex trading system where lot of complex indicators are required. I follow only support, resistance, volumes, candlestick patterns (e.g. double top, shooting star, doji etc), SMA (20, 50 and 200) and last but not the least a little bit of overall market sentiments. I place all my trades using these only. Once you master these your eyes gets trained enough to place good entry and exit points.
  • At any cost, I do not try to take any entry without defining a stoploss and it should be placed in a way that my drawdown should not be more than 2-3%.