Trading Challenge - 1 (Crude oil - 1.75 L to 1 Cr in 300 trading days)

[kingkrunal]

ha ha - you made my day, - we would be like the blind army marching into darkness, lol.

on a serious note i am working on this swing trade statergy seriously.

step 1 - use renko box of 0.50 rs for say lead (crude is 20 points) - only 1 min chart TF
step 2 - mark major support or resistance areas using trend lines
step 3 - overlay donchian channel (default value of 20,20)
step 4 - overlay 8 SMA

now we trade only in the trade zone (there are 3 zones on the chart) - as long as renko bars are hugging the outer we stay in a trade
the middle zone is a no trade - up or down.

back - testing seems good and clear. only thing is i feel that one lot initially should be the max irrespective of capital. that way we can let it run for some 25 odd trades and correct our personal shortcomings.

when free go through this and let me know how it looks to you. if you are ready we can take trades Monday on-wards and run a week of live testing and check . do let me know if you can tweak it better.
(i would honestly prefer just the SMA but initially i think it is better to fix these baby wheels for a while.

View attachment 29743
as a trader the journey is very lonely and when new at least it is better to have someone evaluate your view for a change - it is quite helpful.
do let me know how it comes across to you.

SL will be slightly more than one box below current box - say 1.5 boxes below approx.

good one .. but how about KISS... (Keep it simple silly

renko on 1min.. with 0.50 renko bars and supertted (10,3)... simply follow ST... can improve the whipsaw by the support and resitance or adding the above pointers.. like trailing SL

the only issue with this will be gap up/gapdown.. but it wont matter much

 

[ScorpionKing]

good one .. but how about KISS... (Keep it simple silly

renko on 1min.. with 0.50 renko bars and supertted (10,3)... simply follow ST... can improve the whipsaw by the support and resitance or adding the above pointers.. like trailing SL

the only issue with this will be gap up/gapdown.. but it wont matter much

fair enough - after all it is not the strategy (all are equally good) but discipline that will lead to rewards. feels good to me. i will lay my chart thus and get my eye trained to this set up and check.
i love moving averages as they are like dynamic trend lines. this one is almost doing the same - so its simple and good i feel.

 

[ScorpionKing]

well, i never thought i would lose money from my trading account so imagine my state now as i have a fraud in my bank account and lose money there. someone has withdrawn the full amount and left behind just 341 odd rs and the bank has no idea how it happened. i had close to 1.8 L approx.
today was spent in running around filing the police report and bank complaints.. met a old friend at the cop station with a similar report in hand
(he lost some 45000 rs in the same way).
the shock has worn off and the aftershock lingers. no hope of recovery i know from experience but going through the motion of the paperwork just took my mind off the hurt.

putting it all behind me - what is gone is gone now. why do not folks realize that life is a circle - things come back to haunt you.
most good deeds are done purely on instinct and not much of a thought - so the power of a good thought is weak - what comes back to you someday for a big good deed is therefore - a small good.
but most of the evil deeds we do is planned and lot of power is behind the thought - result is that one gets back a bigger kickback whenever it does happen - and it does happen eventually.
we carry no debts to the grave.

i have placed a withdrawal from my trading account to tide through this crisis and will be trading with a reduced capital.

life is never 'unfair' - tough and rough maybe - i guess i am being tested and who knows - the reduced capital may turn out to be a blessing in disguise in the long run. Mother nature is kind always - we only realize that sometimes i guess. May i find the strength to trust in myself and that is how i will find my trust in her for i am nothing but a small part of her glorious self. all those who have loved her even for a moment can never be broken ever. i am cracked up right now maybe - but i will heal soon.

sorry for the OT post - i will be fresh and hungry to scalp on Monday - not out of greed but self belief. no more on this. today will soon be history to me. a bad day that is all. i cannot let it upset me and it should not - it was just some money i lost, the smallest ingredient of happiness and peace

going out on a long drive early morning and i will be back late evening - the wilderness never fails to heal me.

goodnight all

 

[kingkrunal]

well, i never thought i would lose money from my trading account so imagine my state now as i have a fraud in my bank account and lose money there. someone has withdrawn the full amount and left behind just 341 odd rs and the bank has no idea how it happened. i had close to 1.8 L approx.
today was spent in running around filing the police report and bank complaints.. met a old friend at the cop station with a similar report in hand
(he lost some 45000 rs in the same way).
the shock has worn off and the aftershock lingers. no hope of recovery i know from experience but going through the motion of the paperwork just took my mind off the hurt.

putting it all behind me - what is gone is gone now. why do not folks realize that life is a circle - things come back to haunt you.
most good deeds are done purely on instinct and not much of a thought - so the power of a good thought is weak - what comes back to you someday for a big good deed is therefore - a small good.
but most of the evil deeds we do is planned and lot of power is behind the thought - result is that one gets back a bigger kickback whenever it does happen - and it does happen eventually.
we carry no debts to the grave.

i have placed a withdrawal from my trading account to tide through this crisis and will be trading with a reduced capital.

life is never 'unfair' - tough and rough maybe - i guess i am being tested and who knows - the reduced capital may turn out to be a blessing in disguise in the long run. Mother nature is kind always - we only realize that sometimes i guess. May i find the strength to trust in myself and that is how i will find my trust in her for i am nothing but a small part of her glorious self. all those who have loved her even for a moment can never be broken ever. i am cracked up right now maybe - but i will heal soon.

sorry for the OT post - i will be fresh and hungry to scalp on Monday - not out of greed but self belief. no more on this. today will soon be history to me. a bad day that is all. i cannot let it upset me and it should not - it was just some money i lost, the smallest ingredient of happiness and peace

going out on a long drive early morning and i will be back late evening - the wilderness never fails to heal me.

goodnight all

what the hell... how and why this happened ?
which bank was that ?
or is it from any broker ?

 

[timepass]

well, i never thought i would lose money from my trading account so imagine my state now as i have a fraud in my bank account and lose money there. someone has withdrawn the full amount and left behind just 341 odd rs and the bank has no idea how it happened. i had close to 1.8 L approx.
today was spent in running around filing the police report and bank complaints.. met a old friend at the cop station with a similar report in hand
(he lost some 45000 rs in the same way).
the shock has worn off and the aftershock lingers. no hope of recovery i know from experience but going through the motion of the paperwork just took my mind off the hurt.

putting it all behind me - what is gone is gone now. why do not folks realize that life is a circle - things come back to haunt you.
most good deeds are done purely on instinct and not much of a thought - so the power of a good thought is weak - what comes back to you someday for a big good deed is therefore - a small good.
but most of the evil deeds we do is planned and lot of power is behind the thought - result is that one gets back a bigger kickback whenever it does happen - and it does happen eventually.
we carry no debts to the grave.

i have placed a withdrawal from my trading account to tide through this crisis and will be trading with a reduced capital.

life is never 'unfair' - tough and rough maybe - i guess i am being tested and who knows - the reduced capital may turn out to be a blessing in disguise in the long run. Mother nature is kind always - we only realize that sometimes i guess. May i find the strength to trust in myself and that is how i will find my trust in her for i am nothing but a small part of her glorious self. all those who have loved her even for a moment can never be broken ever. i am cracked up right now maybe - but i will heal soon.

sorry for the OT post - i will be fresh and hungry to scalp on Monday - not out of greed but self belief. no more on this. today will soon be history to me. a bad day that is all. i cannot let it upset me and it should not - it was just some money i lost, the smallest ingredient of happiness and peace

going out on a long drive early morning and i will be back late evening - the wilderness never fails to heal me.

goodnight all

Please do start this in a new thread and keep us all updated about it. It will be a big help to everyone.

 

[ScorpionKing]

what the hell... how and why this happened ?
which bank was that ?
or is it from any broker ?

no - this had nothing to do with my broker.

i was asked to upgrade my old ATM card that was non-chip based to the new chip based card via the ATM warning that only chip based cards would be functional now on. so l got a new card accordingly and was informed by the bank that my old card should be destroyed as it stood cancelled automatically after my new card pin was set by me at the branch itself and tested as functional. (i got my new card a week back)

now the withdrawals have all taken place from various ATM's in Mumbai within the last week. some dozen customers who replaced their cards last week from the same branch as me have been duped the same way. (PNB)

surprisingly - i did not receive any mobile alerts during this period. it was only when the ATM declined my withdrawal transaction day before yesterday that i was aware of this.

i called the helpline from the bank itself and was told that 24 hrs prior my call the branch (bank) had already lodged a complaint in this matter and was given the reference number. i was told that the bank tried to reach me on my mobile although i had no missed calls on my mobile as proof of the same. the bank had already filed the complaint and for the record keeping and filing - they had my signature pending and that is when i went through the file and realized it was close to a dozen and not just me alone.

i was informed by the manager that there were some net banking transactions but most ATM withdrawals - the method by which the money was siphoned off - from most of the customers.

although the manager assures us that we will be refunded the amount shortly(?? - no idea when) i am not very optimistic to be honest.

that about sums it all up i guess.

 

[ScorpionKing]

Please do start this in a new thread and keep us all updated about it. It will be a big help to everyone.

if there is any update i will surely keep you guys informed - but for now - i have just outlined the facts in the reply above. no point in starting a new thread for one post i guess.

 

[ScorpionKing]

lead seems to have a strong floor at 145 or so. let the open decide which way it goes but looks an upward bias to me.

crude could shoot up or down - let us see where the rumors take it

 

[TraderRavi]

it seems to me that it was a job done by insiders . Some bank employee of that branch has done this fraud.

 

[ScorpionKing]

it seems to me that it was a job done by insiders . Some bank employee of that branch has done this fraud.

of course - yes, it is an insider job from all counts - but was the branch a part of it - i have no clue.

anyway - i am more concerned about things i can control like the trading week coming up shortly. hope this week goes well and i do not slip up on my emotions and discipline.