Sridhar's Trading Dairy

[Newbie Day-Trader]

It was not profitable today. Though it shows a profit of 705.25, it would be a loss after transaction charges. One major mistake, I made is to reduce TCS target when it was hovering for long time around its 0 profit for the day( price at yesterday's closing price). After I blinked, it straight went to my target as if it was just waiting for me to commit the mistake.

It's ok, at least you didn't lose a lot, which can happen due to being nervous when starting something new, especially on a public forum. I hope tomorrow will be better. Good luck.

 

[Svaanikvinay]

Minimum requirement? What would you say is the maximum? I'm sorry to say but if the logic is that raising the RR from 1:1 to 1.3:1 ensures better performance then by that same logic, one'd have to argue that we should all set RR at 10:1 or 20:1 or whatever, & we'd all be winners.

Hi Newbie, practical maximum which professionals would target would range between 1:3 to 1:10 (this would be for swing trades), but the problem is that as we increase the reward component for unit risk, it becomes more and more difficult to spot that kind of a trade. Though these kind of trades are present, only few are able to identify them. Also for intraday, the ratio should be from 1:1.3 to 1:3 on an average, not more than this, if the target is to make some amount of money with higher frequency.

 

[sridhga]

HDFC Bank Buy 2025.5
TCS Buy 3493.5
TCS sell 3469
Bifty Buy 10591
M&M Sell 875
Jubl Food Buy 2661
Jubl Food Sell 2605

 

[sridhga]

Instrument P&L
BEL18MAYFUT 6930
HDFCBANK18MAYFUT -4950
JUBLFOOD18MAYFUT 1000
M&M18MAYFUT 1000
NIFTY18MAYFUT -1500
TATAGLOBAL18MAYFUT -900
TCS18MAYFUT -1412.5
Total 167.5

 

[sridhga]

Not profitable day again. Transaction charges are creating the loss. I am not letting my profits run. That is the main problem that I should work on. Taking profits early is the mistake.

 

[sridhga]

Instrument P&L
BEL18MAYFUT 1732.5
HDFCBANK18MAYFUT -575
Total 1157.5

 

[sridhga]

Instrument P&L
BEL18JUNFUT 2722.5
BEL18MAYFUT 1732.5
HDFCBANK18MAYFUT -575
Total 3880

Updated for the day. Traded BEL June in last 1/2 hour.

 

[sridhga]

Today's trades completed by 10:04 am.

Instrument____________ P&L
BEL18JUNFUT___________ 12870

That was a trade with five lots.

I may not trade further today, unless I see a clear setup.
But, you never know, human mind is a monkey.

 

[jagankris]

Today's trades completed by 10:04 am.

Instrument____________ P&L
BEL18JUNFUT___________ 12870

That was a trade with five lots.

I may not trade further today, unless I see a clear setup.
But, you never know, human mind is a monkey.

5 lots be careful too much leveraging is very risky.

 

[sridhga]

5 lots be careful too much leveraging is very risky.

5 lots be careful too much leveraging is very risky.

Thank you. those trades are at different prices and different targets. However, they may have been running on overlapped time frame for some minutes.