Trading Challenge III : 300% in 5months. Attempt III.

[moneymanager1980]

Hope you must achieve your goal

capital 30k ..ok
what is leverage 15 times ?
u mean with 30k we can trade for 450k ? if so which instruments? which broker? ..

 

[moneymanager1980]

1. Last year this started between me and one of my friend, and I took on this challenge because I believe its not impossible. I failed twice, and this is my 3rd attempt.
2. Trading future is out of question in this small capital. and I am not quite experienced in option trading,
3. No withdrawal. All the profit will be re-invested for 5 months.

third point is enough to ensure u cant achieve the goal ..

 

[marimuthu13]

capital 30k ..ok
what is leverage 15 times ?
u mean with 30k we can trade for 450k ? if so which instruments? which broker? ..

May be equity cash...most of brokers providing 15 times leverage in MIS orders ...upto 40 times using CO/BO

 

[gautam7821]

third point is enough to ensure u cant achieve the goal ..

why ?

 

[SwagatN]

Date 04 Sep 2019

There was no intraday trade setups available in all of the stocks that I was tracking. A no trade day,

 

[praveen taneja]

mostly we can have 6/7 trending days in a month you catch 4 every month your target is within your reach all the best Jai Ram Ji KI

 

[bbhanushali]

Objective : Earn 300% in 5 months.
Starting Capital : 30K
Traget : 1.2L
Start Date : Sep 2019
End Date : Jan 2020

Trading Strategy : Intraday Trading on equity. HTF trend following and price volume action.

@SwagatN : You have defined your time and targets; but not the strategy in detail to reach your target. Although, you have said "HTF trend following and price volume action". May I ask you the following:
1. Which Higher Time Frame - Hourly, Daily ?
2. How you define the trend (any specific method like HH - LL etc)?
3. What will be your entry points i.e. after confirmation of higher time frame take entry on lower time frame (define your lower time frame as well) or something else?
4. What will be your stop loss method e.g. fixed % or fixed absolute value or bar low /high on (which higher or lower) time frame?
5. What happens if your stop loss value is more than 50% of your day's target? or more than 2% of your trading capital?
6. How many trades you will take per day?
7. How many trades open during the day (although this will depend on the account balance) at any given time?
8. What will the trigger to increase/decrease the quantity e.g. account value increased/decrease by 25% then quantity increase/decrease by x%?
9. What is your criteria for selecting the scrips for day trade e.g. continuous auto scan at higher time frame interval that satisfy your pre-defined entry levels or manual / visual confirmation on few scrips at higher time frame?
10. What is your scrip universe?
I am sure you will have all of this written down in your trade plan but if you jot it down here it will help you to revisit and correct your own self at EOD or later. Hope this doesn't offend you. Thnx.

 

[SwagatN]

Date 05 Sep 2019

Only 1 trading opportunity was present today. Other stocks were moving in tight range. AXISBANK tried to breakout above previous day high. But the breakout candle was showing very less volume and price quickly turned about. Candle 4 was my trigger candle showing buyers are getting swapped, I SHORTEd below candle 4 low. But candle 5 was a kind of self reversal candle which made me tighten my SL to candle 5 high. My SL was taken but price eventually moved in my planned direction.

There was no re-entry opportunity available there.

 

[SwagatN]

@SwagatN : You have defined your time and targets; but not the strategy in detail to reach your target. Although, you have said "HTF trend following and price volume action". May I ask you the following:
1. Which Higher Time Frame - Hourly, Daily ?
I am trading 15m trend, my HTF are daily and hourly.
2. How you define the trend (any specific method like HH - LL etc)?
Yes, I am defining trend using price swings.
3. What will be your entry points i.e. after confirmation of higher time frame take entry on lower time frame (define your lower time frame as well) or something else?
I am looking for candle pattern which shows unwillingness to move against my desired trade direction. I use those candle as trigger candle. You can see example in today's AXISBANK SHORT trade
4. What will be your stop loss method e.g. fixed % or fixed absolute value or bar low /high on (which higher or lower) time frame?
SL is fixed at 1% now. i.e. 300 rs. This will be increased once profit is accumulated
5. What happens if your stop loss value is more than 50% of your day's target? or more than 2% of your trading capital?
SL is 1% now.
6. How many trades you will take per day?
The choice lies with market. But maximum 3 at a time, as it will be difficult to actively manage more than 3 open positions
7. How many trades open during the day (although this will depend on the account balance) at any given time?
Three
8. What will the trigger to increase/decrease the quantity e.g. account value increased/decrease by 25% then quantity increase/decrease by x%?
5 times profit accumulated of what is my trade risk size now
9. What is your criteria for selecting the scrips for day trade e.g. continuous auto scan at higher time frame interval that satisfy your pre-defined entry levels or manual / visual confirmation on few scrips at higher time frame?
I am studying around 30stocks manually at EOD and choose the best probable for next day. This might evolve with time and experience
10. What is your scrip universe?
NIFTY FO
I am sure you will have all of this written down in your trade plan but if you jot it down here it will help you to revisit and correct your own self at EOD or later. Hope this doesn't offend you. Thnx.

Answers are in RED..

 

[moneymanager1980]

why ?

Because one loss trade in three months will wipe out all hopes