Trading Challenge II : 300% in 5 months

[timepass]

So your SL in BNF is about 30 points ?? Sounds too low.

 

[VJAY]

Though you mentioned your mistake ...still am wonder experienced like you still doing it again &again...

View attachment 28485

Ohh sorry swagat....I think you are traded in banknifty....looking your loss of 2% I thought its in TS

 

[SwagatN]

So your SL in BNF is about 30 points ?? Sounds too low.

The trade selection was wrong. It was not a matter of SL placement..

 

[Pradeep Narayan]

The trade selection was wrong. It was not a matter of SL placement..

I am sure you know this:
Stop Loss point is the price point where your current view of your trade is no longer valid. It is not a price point that is calculated based on Money Management rules.

Now, does your view on Bank Nifty change every 30 points?

 

[SwagatN]

Now, does your view on Bank Nifty change every 30 points?

Depends

 

[Ravii_67]

SwagatN,

Brother,, i am following this thread.. wanted to give you one free advise as per my observation.
Your price action read is good but you finding difficult to pull trigger at right time and some times managing exit criteria.

As some one suggested some time back,, give it a try to read "Nifty Nirvana" eBook.. (http://niftynirvana.blogspot.com/2013/12/download-e-book.html)

My wife trading with this approach from last 3 years successfully (she trades in NF or BNF only)

If you liked to further explore,, check her blog site : http://onlyniftyy.blogspot.com/

Why i am suggesting this is.. this price action method is much easier to understand, be prepared for possible trades well advansed and good exit strategy as well.

Mods : hope i am not violating any rules, my intention is to share knowledge which he may find suitable to himself.

 

[SwagatN]

Date 17 Sep 2018

BANKNIFTY

BANKNIFTY was repeatedly facing resistance near 26950 (intraday resistance level). Took a SHORT when the opportunity presented itself. Price fell but found little support near 26880, and bounced off the low. I scratched the SHORT in that bounce for minor loss, It was also close to intraday square off timing. The close suggest weakness and probably more downside tomorrow.

TATASTEEL

TATASTEEL gapped down below the trading range from previous session and has given a good failure LONG setup in the blue circled zone. I could not notice this during real market. So No trade in TATASTEEL.

 

[VJAY]

SwagatN,

Brother,, i am following this thread.. wanted to give you one free advise as per my observation.
Your price action read is good but you finding difficult to pull trigger at right time and some times managing exit criteria.

As some one suggested some time back,, give it a try to read "Nifty Nirvana" eBook.. (http://niftynirvana.blogspot.com/2013/12/download-e-book.html)

My wife trading with this approach from last 3 years successfully (she trades in NF or BNF only)

If you liked to further explore,, check her blog site : http://onlyniftyy.blogspot.com/

Why i am suggesting this is.. this price action method is much easier to understand, be prepared for possible trades well advansed and good exit strategy as well.

Mods : hope i am not violating any rules, my intention is to share knowledge which he may find suitable to himself.

Good to see one who trading dedicately this much my friend Rajesh's method (Nifty nirvana) Decision point ....

 

[primitivetrader]

R your set ups based on vsa? Or are you combining other method with vsa for set ups? Focus only on vsa trade setups. There are 2 ways to do it. Defined and write down your set up conditions and second go with the chart and trade as per the opportunity given by the mkt. The second one is very difficult to do as it demands good exp with the stuff and you must be completely sync with the market, something like dancing with the market.

 

[Ravii_67]

Good to see one who trading dedicately this much my friend Rajesh's method (Nifty nirvana) Decision point ....

Thanks Vijay.. I traded this method for 6 months in 2014 and handed over account to my wife.. she is doing excellent compared to me since then. Ladies trade much better than men

There used to be many people when Rajesh sir (a.k.a SMART TRADER) is actively trading and blogging.