Technical Analysis - Practice trades

mindgames

Well-Known Member
Trade 28

Stock: ITC
Buy: 356 on 6 June 2016
Sell: 352.4 on 24 June 2016
Holding period: 18 days
Trade reason: Breakout pullback



Comments

1. Exited on Brexit day, due to poor price action during the day - this could be due to bad mental state.
2. Alternate view could have been to hold as stock was well above stop loss.
 

mindgames

Well-Known Member
Trade 29

Stock: VEDL
Buy: 119.7 on 15 June 2016
Sell: 115.5 on 24 June 2016
Holding period: 9 days
Trade reason: Breakout pullback



Comments
1. Not a clear b/out over resistance line. Entered at previous resistance taken and retested by past 2-3 candles. Also, decent volumes on b/out bar.
2. Started rising almost immediately after purchase. As a result could not make full entry.
3. Partial exit could have been done at 128-129 levels - waited for 130 instead. But this could be argued otherwise as well.
 

mindgames

Well-Known Member
Trade 30

Stock: TRIVENI ENGG
Buy: 59.4 on 16/17 June 2016
Sell: 58 on 24 June 2016
Holding period: 8/7 days
Trade reason: Breakout pullback



Comments
1. Better entry mechanism to be adopted. Started buying on fall from highs after breakout - need to figure out better strategy for entry.
 

mindgames

Well-Known Member
Trades 31, 32 & 33

Stocks: IDBI, TATAGLOBAL, JSWENERGY

Buy:
IDBI: 70 on 16 June 2016
TATAGLOBAL: 125.8 on 16 June 2016
JSWENERGY: 80.45 on 22 June 2016

Sell:
IDBI: 64.1 on 24 June 2016
TATAGLOBAL: 118 on 24 June 2016
JSWENERGY: 77 on 24 June 2016

Holding period: 8, 2 days
Trade reason: Ichimoku / Breakout pullback







Comments
1. All exited on Brexit day. All of them closed much stronger than exit price.
2. Better entry strategy to be figured out for buying on pullback.
 

mindgames

Well-Known Member
Trade 34

Stock: TATAPOWER
Buy: Average of 73.8 across 17, 21 & 22 June 2016
Sell: 71 on 24 June 2016
Holding period: 2-7 days
Trade reason: In consolidation after breakout



Comments
1. Better buying strategy to be adopted as stock bought on fall from resistance.
2. Exit on Brexit day - closed stronger than sale price.
 

mindgames

Well-Known Member
Trade 35

Stock: WELSPUN
Buy: Average of 108.35 across 17, 20 & 23 June 2016
Sell: 101.2 on 24 June 2016
Holding period: 1-7 days
Trade reason: Pullback after breakout



Comments
1. Better buying strategy to be adopted as stock bought on fall from resistance.
2. Exit on Brexit day - closed stronger than sale price.
 

mindgames

Well-Known Member
Bad day today - not because of losses but because I broke my rules. Some mistakes were avoidable while others were unpardonable.
Trade 36, 37 & 38

Stocks: NIFTYFUT, ITC CE, TATAMOTORS CE
Holding period: Intraday
Trade reason: Revenge / Over-trading.







Comments
1. Broke rules - revenge trading, over-trading, no stop loss.
2. Need to work a lot on discipline and emotional aspects.
 

mindgames

Well-Known Member
Trade 39

Stock: BPCL
Buy: 1006.3 on 16 Jun 2016, 1008 on 22 Jun 2016
Sell: 1042 on 27 June 2016
Holding period: 5,11 days
Trade reason: Ichimoku / Breakout and pullback



Comments
1. Did not enter full position as there was no retracement as per expectation.
2. Exit on DMI divergence, coinciding with upper TL of channel.
 

mindgames

Well-Known Member
TCS 1 min



Side note:
1/ On daily chart, TCS broke down and closed below support yesterday. Therefore, bias should have been on the short side.
2/ Volatile swings until 10, stabilized by 10:30.
3/ Until 11, seemed like going long could also be considered as price action was bullish after initial fall.
3/ Reversal @ 2500 levels was y'day's consolidation area.
4/ Whenever there was breakout from UC (prevailing at that point), there was failure at resistance line (prevailing at that point).
 
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mindgames

Well-Known Member
Performance Analysis

Period: 1 January 2016 to 30 June 2016
Total no. of trades: 45 (one still running)
No. of winners: 16 (one still running)
Winning %: ~33% (excluding charges)
Overall position: Profit (including profitable running trade, charges)

Areas for improvement
01. Avoid / exit positions before important events - Budget, Results, Brexit etc. [MINDTREE, HCL, WIPRO, ALL BREXIT POSITIONS]
02. Must stick to stop losses - 100% adherence must. [INTRADAY TRADES ON BREXIT DAY]
03. If trade is taken and stock crashes before delivery, exit as T1 holding - must trade only very liquid stocks. [MINDTREE]
04. Be very careful with order placement - EXIT IMMEDIATELY if wrong order is placed. [MARUTI]
05. Set SL below correct swing High/Low. Keep tricky bars in mind. SL to be maintained on closing basis, except instances of market crash. [BATAINDIA,AXISBANK,LT]
06. There must be compelling reason reason for entry - must not act on the basis of gut feeling. [COALINDIA Gap down, ADANIPOWER, THOMASCOOK, CIPLA]
07. If a trade meets set-up criteria but has weak bars, wait for better entry time. [INFRATEL]
08. If and when you get a spike in your favour, protect profits or at-least cover partially. [DCBBANK, ZEEL]
09. Avoid lazy trade management and complacency. Exit part 1 strictly at 1st resistance. Look to move SL to break-even after decent move. [GAIL, HDFC, ZEEL, DCBBANK]
10. Leave some profits for others. Don't be greedy for every last bit of profit. [VEDL, JETAIRWAYS, ARVIND]
11. Better entry mechanism to be adopted in the case of breakout pullback. [LT, WELSPUN, TATAPOWER]
12. Position sizing to be followed strictly - 100% compliance must. Do not trade what you cannot handle [INTRADAY TRADES - TATAMOTORS, ITC, NIFTYFUT]
13. Avoid revenge-trading and over-trading [INTRADAY TRADES - MARUTI,TATAMOTORS, ITC, NIFTYFUT]
14. Work on emotional discipline.
15. Improve chart reading.
16. Maintain better records.
 
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