Scaling Up Your Trading Business

[Nikhil Dogra]

No trades done today A punishment of sort for breaking rule yesterday.

 

[Nikhil Dogra]

EOD Homework -

Pivot is 9982
Above pivot we can trade at 10084/10015/10155
Below pivot we can trade at 9969/9938/9898


Today has been a painful lesson for me, i didn't trade as a punishment for breaking rules yesterday and i missed a great day perhaps even greater than 4k+ day today , on positive note market is always there so no harm no foul. Pivotal lesson being - Don't break your own trading rules w.r.t position size!

 

[Nikhil Dogra]

Mid-Month Update :-

Trading A/c increased from INR 60000 to INR 66001

Now i will be becoming conservative having achieved & exceeded our 3% per month or INR 3000 per month on our INR 100000 Investment [60000 in trading a/c & 40000 in debt funds*]
I will now trade "normally" X size (won't add to winners) only on momentum trend trades while i will trade option spreads (X/2) on mean reversion setups

*INR 45000 in debt funds i.e INR 5000 is extra while our total investment is INR 100000 (60000 in trading a/c & 40000 in debt fund)

 

[copypasteaee]

No trades done today A punishment of sort for breaking rule yesterday.

I heard revenge trading, this was revenge not trading.

Trading good means, trading consistently same size, neither less not more. Zero Comes under category of trading less. I also advice you to keep trading your standard size and don't reduce on target achieved. It may be a monster month for you

 

[Nikhil Dogra]

@copypasteaee i did trade standard size & i think time is coming to withdraw INR 10000 to make the a/c INR 60000 again & deploy INR 10000 in a debt fund. I still have 2 more months to trade at same size so this (10k) will earn better interest as i have adequate margin for 150shares or 2 lot/trade

 

[Nikhil Dogra]

View attachment 22881

@copypasteaee i did trade standard size & i think time is coming to withdraw INR 10000 to make the a/c INR 60000 again & deploy INR 10000 in a debt fund. I still have 2 more months to trade at same size so this (10k) will earn better interest as i have adequate margin for 150shares or 2 lot/trade

Bought the "new highs" but now i am sure i won't make another trade, today has been a big day almost 6k+ My hands are tired of jobbing!!

 

[Nikhil Dogra]

EOD Homework :-

Pivot is 10117
Above pivot we can trade at 10150/10192/10250
Below pivot we can trade at 9995/9962/9919

BEWARE - TOMORROW IS FRIDAY THE 13th

*Economic indicators released on 12th Sep 2017
Cumilative Industrial Production came at 2.2% , better than last indicator
Industrial production came at 4.3% , better than last indicator
manufacturing output at 3.1% better than last indicator
CPI came at 3.28% , neutral indicator

 

[simplebuthard]

what is that about friday 13th? can you shed some light on this?

 

[varunkochhar]

It is just considered a bad OMEN Simple ji

 

[Nikhil Dogra]

Mid-Month Update :-

Trading A/c increased from INR 60000 to INR 66001

View attachment 22875


Now i will be becoming conservative having achieved & exceeded our 3% per month or INR 3000 per month on our INR 100000 Investment [60000 in trading a/c & 40000 in debt funds*]
I will now trade "normally" X size (won't add to winners) only on momentum trend trades while i will trade option spreads (X/2) on mean reversion setups

View attachment 22876

Trading A/c increased from INR 60000 to INR 71636

Historically speaking in intra day trading i suffer losses after big winning days so in light of these past experience i will be trading a relative value arbitrage strategy of vertical option spreads . There are four trade setups which i have isolated right now , they keep on changing as i think for intra day trading we have to be dynamic as opposed to be rigid in following a system, There is a Dr Steenbarger quote as well on this “The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behavior.”

• Trend trade setup (Above pivot uptrend/Below pivot downtrend) - 1 Lot Spread Position Hold
  
• Mean Reversion trade setup within level ranges - 1 Lot Spread With Quick Turnaround
  
• Pyramid trade setup (adding to winning trend trade setup signals) - 1 Lot Spread Position Hold
  
• Momentum trade setup (new intra high/low breakout) - 1 Lot Spread Position Hold

All in all 150-225 share spread can be held on winning trades & 75 share spread in range bound situations