My Trade Dairy - mravi
- Thread starter mravi
- Start date
This is how IDFC looks to me in charts and the reason for continuing to hold shorts.
But if I adjust the upper trend line, it also indicates a break-out. Any suggestions on trend line would be useful.
Obviously.. any sudden up move of 2 points means - one can go long with a target of 184.
But if I adjust the upper trend line, it also indicates a break-out. Any suggestions on trend line would be useful.
Obviously.. any sudden up move of 2 points means - one can go long with a target of 184.
Last edited:
Thumb Rules/Check list to exit a bad trade (this will help to save the shirt):
1. Did not respect stop loss
2. Start looking at everywhere for support, moneycontrol, forums, tv channels etc... Even when I know that I broke the rule 1.
3. Slowly becoming stubborn.
4. Fear that we may miss next "big move".
5. Tiredness - actually this is different kind of tiredness, to reduce this tiredness one need to do a positive trade. If one gets a positive trade it works like medicine, and suddenly more energy comes. Otherwise.. the person may enter into compulsion of doing further trades, which normally are forced trades, and more losses will follow.
Right now, I am dealing with the Tiredness problem. May be others call it with a different name.
The other problems I could deal with right now are...
1. Capital allocation & profit taking. Now I have developed my own capital management and profit booking method. And It seems working.
2. Over a period of last 6 months my acceptance to stop loss has improved. Because of this even when I am at a capital loss of 40% to 50%, I could recover the entire loss and made profits at times.
Now if I can tackle the "Tiredness" problem, I may be able to reduce the number "wrong trade" entries. The by controlling the losses.
Also, one more aspect that interests me as of now is "beta" of stock.
1. There are stocks like RIL, HDFC etc.. which moves swiftly in a narrow range of say 1%. But by end of day they generally wont move more than 1 to 2%. These stocks have good volume.
2. There are stocks like IDFC, AXISBANK etc.. which move by 2 to 4% in a day. These stocks generally will be stagnant at a price for a while, then suddenly move by 2 to 4% and then again gets stagnant. May be they give 1 or 2 such moves in a day.
3. There are stocks like GMRINFRA, UNITECH which will be stagnant for more days, and give sudden moves of 4 to 10%.
I think the first & second category are generally stocks which are part of Index. If they move, the index moves along with them. The third category stocks do a catch up with Index. So, make larger moves after confirmations in Index (Keeping other stock specific & news related movements aside).
Anyways.. eventually closed all positions by end of day.
Recovered: 5%
Total Capital Down by: 35%
1. Did not respect stop loss
2. Start looking at everywhere for support, moneycontrol, forums, tv channels etc... Even when I know that I broke the rule 1.
3. Slowly becoming stubborn.
4. Fear that we may miss next "big move".
5. Tiredness - actually this is different kind of tiredness, to reduce this tiredness one need to do a positive trade. If one gets a positive trade it works like medicine, and suddenly more energy comes. Otherwise.. the person may enter into compulsion of doing further trades, which normally are forced trades, and more losses will follow.
Right now, I am dealing with the Tiredness problem. May be others call it with a different name.
The other problems I could deal with right now are...
1. Capital allocation & profit taking. Now I have developed my own capital management and profit booking method. And It seems working.
2. Over a period of last 6 months my acceptance to stop loss has improved. Because of this even when I am at a capital loss of 40% to 50%, I could recover the entire loss and made profits at times.
Now if I can tackle the "Tiredness" problem, I may be able to reduce the number "wrong trade" entries. The by controlling the losses.
Also, one more aspect that interests me as of now is "beta" of stock.
1. There are stocks like RIL, HDFC etc.. which moves swiftly in a narrow range of say 1%. But by end of day they generally wont move more than 1 to 2%. These stocks have good volume.
2. There are stocks like IDFC, AXISBANK etc.. which move by 2 to 4% in a day. These stocks generally will be stagnant at a price for a while, then suddenly move by 2 to 4% and then again gets stagnant. May be they give 1 or 2 such moves in a day.
3. There are stocks like GMRINFRA, UNITECH which will be stagnant for more days, and give sudden moves of 4 to 10%.
I think the first & second category are generally stocks which are part of Index. If they move, the index moves along with them. The third category stocks do a catch up with Index. So, make larger moves after confirmations in Index (Keeping other stock specific & news related movements aside).
Anyways.. eventually closed all positions by end of day.
Recovered: 5%
Total Capital Down by: 35%
Are we on a false break out? Look at Europe!! And look at the Euphoria - around Obama's Win in Indian TV channels!!
Everyone in TV are telling by Diwali NIFTY will touch 5900, but somehow I am feeling, NIFTY will not go anywhere from current levels, and after Diwali the Euphoria dies.
Also, by end of the day I somehow did not feel the breakout has strength. Most stocks could not sustain their Day's highs.
This was the reason, for pulling out all positions by end of today.
IDFC still looks like short candidate, where as UNITECH, GMRINFRA are looking like LONG candidates.
Will be watching how US market closes today/tomorrow morning.
Everyone in TV are telling by Diwali NIFTY will touch 5900, but somehow I am feeling, NIFTY will not go anywhere from current levels, and after Diwali the Euphoria dies.
Also, by end of the day I somehow did not feel the breakout has strength. Most stocks could not sustain their Day's highs.
This was the reason, for pulling out all positions by end of today.
IDFC still looks like short candidate, where as UNITECH, GMRINFRA are looking like LONG candidates.
Will be watching how US market closes today/tomorrow morning.
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