My trades based on "new way of pivot trading" and vwap

[vijkris]

due to regret of missing previous rally, reentered in copper, but it resulted in end of move, thus loss. 15 min tf already gave end of rally signals, which I din see b4 entry.

 

[vijkris]

My profit/loss calculations:
(+23-94-100)- brokerage(-50-30-40) = -291(approx.)
still I have room to take 1 trade with max sl of 100 rs.

 

[bapu4]

Hi Vijkrish,
I am silently watching the thread,let me congratulate you for this initiative and also that you have a very systematic way of putting things forth.
I am observing you are realising the mistakes very well,I wud suggest you realise them before they are about to take place (you have that capabilty,I can sense it through your writings,I dont know I am making sense to you exactly what i wana say) ) just dont enter if a single if/but is in your mind(be highly critical,I mean criticise the trade ,only enter if you have nothing to criticise),for that keep all rules in your mind for entry,outrightly reject the trade if its not as per your set up),
and if things are not as per the system planned by you and what you have learned,wait and oberve plentily till you really get the set up,initially it will take more time but few successful trade will teach you to recognise the pattern of 'your' trade(setup) and that will be the trade ,with practise you will start identifying in less and less time.
I hope this helps,
all the best
God bless you
P.S. just tell me what exactly has helped you most, out of above,for my learning purpose.

 

[vijkris]

Hi Vijkrish,
I am silently watching the thread,let me congratulate you for this initiative and also that you have a very systematic way of putting things forth.
I am observing you are realising the mistakes very well,I wud suggest you realise them before they are about to take place (you have that capabilty,I can sense it through your writings,I dont know I am making sense to you exactly what i wana say) ) just dont enter if a single if/but is in your mind(be highly critical,I mean criticise the trade ,only enter if you have nothing to criticise),for that keep all rules in your mind for entry,outrightly reject the trade if its not as per your set up),
and if things are not as per the system planned by you and what you have learned,wait and oberve plentily till you really get the set up,initially it will take more time but few successful trade will teach you to recognise the pattern of 'your' trade(setup) and that will be the trade ,with practise you will start identifying in less and less time.
I hope this helps,
all the best
God bless you
P.S. just tell me what exactly has helped you most, out of above,for my learning purpose.

hi bapu4 ji,
thank u for the inspiring words. ur each line makes sense totally to me at least.
"I wud suggest you realise them before they are about to take place (you have that capabilty,I can sense it through your writings,I dont know I am making sense to you exactly what i wana say) )"
- my whole effort is to do the above. b4 starting the thread I was 80%sure
that my prob z with psychology(mainly fear,anxiety,greed,panic) and definitely indiscipline( bad psych makes me indisciplined, I think).
Now after today's experience I am 200% sure, prob is purely psychological.
I will post the final crude chart in which I tried to address psychological issue.

 

[vijkris]

Hi Vijkrish,
I am silently watching the thread,let me congratulate you for this initiative and also that you have a very systematic way of putting things forth.
I am observing you are realising the mistakes very well,I wud suggest you realise them before they are about to take place (you have that capabilty,I can sense it through your writings,I dont know I am making sense to you exactly what i wana say) ) just dont enter if a single if/but is in your mind(be highly critical,I mean criticise the trade ,only enter if you have nothing to criticise),for that keep all rules in your mind for entry,outrightly reject the trade if its not as per your set up),
and if things are not as per the system planned by you and what you have learned,wait and oberve plentily till you really get the set up,initially it will take more time but few successful trade will teach you to recognise the pattern of 'your' trade(setup) and that will be the trade ,with practise you will start identifying in less and less time.
I hope this helps,
all the best
God bless you
P.S. just tell me what exactly has helped you most, out of above,for my learning purpose.

" just dont enter if a single if/but is in your mind(be highly critical,I mean criticise the trade ,only enter if you have nothing to criticise),for that keep all rules in your mind for entry,outrightly reject the trade if its not as per your set up),"
one big thing I observed today-b4 entering copper- my mind was saying "mpl bd happened enter Copper", (already was full of guilt as I missed taMO ) , position moved into profits- U wont believe then all "if" came into play, "wat if u loose" . this "if" made me exit.
At the same time I went long in TaMo, why?? bcos of this "if", wat "if" u miss trend again? I heard so many "if" 'If" "if" . reverse trade was definitely against plan. but at time I totally forgot the plan :lol:

"If" word is double edged sword for me, in profits it made me exit early. and if planning to wait or soh, it is creating hell lot of anxiety, thus making me break the plan.
In heat of moment , one green candle looked like a big uptrend. :lol:

 

[vijkris]

Hi Vijkrish,

P.S. just tell me what exactly has helped you most, out of above,for my learning purpose.

sir ji, each and every sentence helped me a lot. I am very happy :rofl:
bcos now I know the "dushman", and ur post confirmed the same.
U know I have tasted profits by following this method. I made 2 or 3posts in subhadip sir thread.
At that time I had only one position, had lot of anxiety,"if", but managed to ride the trend.
Today suddenly don know how(definitely psychological), I was in copper, crude,tamo,tatsteel, at the same time 4 positions????:annoyed:
I think Stupid adrenaline was flowing :lol:

 

[vijkris]

my last trade after which was stopped out for the day as per risk management

I was supposed to risk 100 rs, but due to the mistake of adding position in sideways, loss doubled to 200, thus overshooting my loss circuit breaker.
My original plan mentioned r:r of 1:1 in sideways.

 

[vijkris]

Propsed Initial Capital = rs 20,000

Risk per trade = 0.5% * 20,000 = 100 rs

Max loss limit/day = 2% *20000 =400rs

Weekly target = 4%*20000 = 800rs

Risk:Reward = in case of trend, only trail sl, No R:R , adds wherever applicable
in sideways/range - 1:1 or 1:2, depending on location of vwap and sd bands

I am supposed to start as beginner level 1, but I m modifying , the rule to start as Intermediate level no.5.

total loss for the day = -512(including brokerage)
i.e 2.6% of trading capital.

For tomorrow
Balance = 20,000-512 = 19500 (rounded off)
New risk/trade = 90
max loss limit/day = rs 380
weekly target = rs 800

 

[vivektrader]

total loss for the day = -512(including brokerage)
i.e 2.6% of trading capital.

For tomorrow
Balance = 20,000-512 = 19500 (rounded off)
New risk/trade = 90
max loss limit/day = rs 380
weekly target = rs 800

Hey vijkris, which all scripts you are considering. Are you taking minilots only? Couldn't understand how to limit maximum loss to just 100 per loosing trade. I am bothering you because presently I am on a sabbatical, not risking actual money( after blowing off almost 3.5lac during last year ). I plan to restart with actual money in about 2-3 months.
Regards
Vivek

 

[vijkris]

Hey vijkris, which all scripts you are considering. Are you taking minilots only? Couldn't understand how to limit maximum loss to just 100 per loosing trade. I am bothering you because presently I am on a sabbatical, not risking actual money( after blowing off almost 3.5lac during last year ). I plan to restart with actual money in about 2-3 months.
Regards
Vivek

dear vivek,
blowing 3.5 lac intraday is possible only in fno, I think. mcx- mini and micro only. copper, crude.
u can c today's copperm chart I posted, my sl was 40 paise. in good trending days that sl wil hold for 1 lot.. then aggressive adds , theoretically todays copper trade with adds would have fetched approx. 3 or 4k alone, that's 20% of trading capital.

btw, u r doing fulltime trading or part time?
I consider risk as initial risk only. thanks to subhadip sir, sl is close enough yet safe in 3 min.