Trading Challenge II : 300% in 5 months

[SwagatN]

Another major issue that I faced repeatedly during my 1st challenge was the boredom during live market and the lack of focus which was coming from boredom. These two things combined costed me quite a bit.. many times I missed good juicy trade setups as I was not fully active, and many times I took trades without confirming the HTF price action, (plain lazy)..

This time I am going with only 3 symbols. So I wish I will face those two little monkeys more often for next 5 months.. And to tackle them

• I am going to trade the 1m trend where trend/range developments are faster as compare to 5min
• In every 15/30min I will note down my market structure, and expected trade setups here in the diary. This will keep me active plus it will also help to evaluate later on how my mind was seeing charts in real time..

Now why EOD trades along with intraday this time ??

The plan is to make the most of the money which lies in my trading account for this 5 months. The margin requirement for intraday trading will be max by 1L to 1.2L. That means the rest 2L (approx) is going to sit idle. So the plan is to put them in stocks with good positional uptrend with a time horizon of 1 to 3 months. I am going with NIFTY 200 cash which includes top 100 large cap and top 100 mid cap companies. From time to time whenever I will take position in any of those companies I will post about those trades here also. As my final target is going to include gain from intraday as well as positional trades.

 

[sumosanammain]

Please list out the books that you read on Trading Psychology
Hope you have read the top 5 books on this topic

 

[SwagatN]

Please list out the books that you read on Trading Psychology
Hope you have read the top 5 books on this topic

The last book that I had read on trading psychology was Trading in the Zone by M Douglas, and that was 3 years back.

 

[timepass]

If the challenge matters so much, then go with Rs. 1000 to start with as your trading capital. Following the charts as you do (in Equities), you can achieve as much percentage profit/loss as with additional zeroes. Using bracket orders, you get real heavy leverages.

 

[sumosanammain]

The last book that I had read on trading psychology was Trading in the Zone by M Douglas, and that was 3 years back.

And why have you not read it again

Do look up Ari Kiev too

 

[eklavyam]

kitaab padhne ke baad bhi loss hota hai ji
knowing the path and walking the path,both are different

so concentrate more on walking part...

 

[SwagatN]

And why have you not read it again

Do look up Ari Kiev too

Eklavya answered it,

 

[newtrader101]

Objective : Generate a profit of 300% in 20 weeks (5 months)
Start Date : 16th August 2018
End Date : 31st December 2018
Starting Capital : 3L
Target Capital : 12L
Trading Style : Intraday (1min) with Positional (EOD)
Trading Instrument : TATASTEEL, RELIANCE, BANKNIFTY current month future for intraday and Entire NIFTY 200 stocks in cash for EOD positional.
Trading Strategy and Methods :
For intraday I will trade 1m timeframe trend in the foot steps of 5m trend.
For positional I will trade Daily trend in the foot steps of Weekly trend.
Methods used are simple price action, candle pattern and volume analysis. No indicators.
Intraday Risk = 1% of trading capital
Business Risk = 20% of trading capital. i.e. at anytime my net equity is down by 20% from its peak I will consider this challenge as a failure.

================================

This is my 2nd attempt on the challenge of making a 300% return with in 5 months (20 weeks). The first attempt started on 15th of May 2018 and was supposed to run till 31st September. My trading capital was 1.5L, and final capital target was 6L. But I accepted my defeat on 2nd August 2018 with my final equity standing at a loss of 8% i.e. 12K. That was hell of a journey and I did enjoy it a lot. At a low point I accepted my failure, off-course I was done, but I am not finished.

This time I have raised my capital to 3L and thus the target is 12L. I will trade on derivative of the above mentioned scrip. More on my lessons and experiences from the 1st challenge in the subsequent post.

>>> NEVER GIVE UP <<<

Good luck Bro.

 

[sumosanammain]

Eklavya answered it,

Your answer shows you have a long way to go......

 

[VJAY]

kitaab padhne ke baad bhi loss hota hai ji
knowing the path and walking the path,both are different

so concentrate more on walking part...

If you know the path then we should try to walk through that path.we may feel dificult at starting but going with it we start to align with that path