My System - My trades.


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Thanks for your insights Varun ji.

I did take that trade live and it resulted in 100 pts profit. NFP-driven movements in silver tend to be volatile and that's precisely why I wanted to test out the effectiveness of OBV in scenarios like this. Just wanted to clarify how you'd trade such spikes (irrespective of the events driving them) and inputs about SL, which I got. Thanks again.

Posting a chart. It is a punter's delight. No i did not trade it but my broker burnt his hands on this. Just sharing with you guys. The price at around 3 o'clock was Rs.0.85 (less than Rs.35 per lot). On seeing my charts i can see that considering it a punt i could have entered at Rs.1.80 with a SL of zero at around 3:13. The level of my green line (Channel top that i have created). It went up to Rs.32 before close and ended at Rs.28.6. (More than Rs.1200 per lot). So a Rs.1000 punt would have resulted in a profit of more than Rs35000 all in a matter of 15min. That is the stock market for punters like me. By the way it was not a rule based entry as per our 200EMA system. It was just meant to be a punt. An RR of 1:35. Wow.
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This type of trade happens quite regularly on expiry days, at least once every 2expiries if not all expiries. On a lighter note who needs a wipro to get rich. I guess if you have earned the whole week spending 500 or 1000 rupees on a punt is not inexcusable. We tend to lose more than that on a stop in a regular trade.
It would not have been a pure punt as i would have only entered at my green channel line levels. And my 2 pre-conditions for even considering this trade would be that one the price of the option would be less than Re.1 and secondly and more importantly the strike price should be nearest to the prevailing spot price. And to make it absolutely risk free, would have sold half the lots at double the price of acquisition and let the other half expire and to ride the whole trend.Think about it.
Why do most traders fail ?
The market throws up plenty of trades everyday. Take only those where your Stops are small. The only thing known to you at the time of taking a trade is your stops. So only work on your stops. Targets/ profits are only dreams. Stops are a reality. Choose a system where your stops are small and take only those trades. I do not have preconceived targets when i take a trade. I might have profit taking levels based on my greed but never based on some rule. The rules if any only govern my SL's, they might become my trailing stops after my trade. Once you are comfortable and satified trading your system stop looking around. Your system should set you free to pursue your hobbies after market hours. I would rather watch a good movie than watch people talk about their methods on You tube and other sites. No offence but i donot want anybody elses views to hamper my judgement in my trades. As it is it was very difficult for me to pull the trigger when i had so many parameters (indicators) to confirm my trades. I have just made my life simpler by getting rid of them.

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