Trading Challenge : My journey from 1.5Lakh to 6Lakh in 5months
- Thread starter SwagatN
- Start date
Few changes in the approach from tomorrow.
Over past few days,
Certainly I am very disappointed with myself the way I have handled myself over last 2 weeks. This time was precious. I cant get this time back, but will be careful enough not to repeat the same mistake from tomorrow. Now only 2 months and few more sessions are left. Perhaps this is the last effort to keep doing right things and keep the project alive.
Over past few days,
- I have done a major change to the way I was determining price trend.
- Some minor changes are also included in trade setup evaluation.
- Tested the same for one month over 2 stocks only. More test to be carried out with time on everyday basis (to build confidence on the system and check its validity)
- Reduce the number of stocks to 10 from 14.
- To counter the boredom..
- Will trade the same system on 1m price trend for only one stock. (TATASTEEL). Here the trend development will be faster as compared to 5m chart and hence will keep me occupied and focused in trading. Here the trade risk will be kept very small considering the whipsaws on 1m
- For the rest 10 stocks, will trade intraday on 5m chart as usual.
Certainly I am very disappointed with myself the way I have handled myself over last 2 weeks. This time was precious. I cant get this time back, but will be careful enough not to repeat the same mistake from tomorrow. Now only 2 months and few more sessions are left. Perhaps this is the last effort to keep doing right things and keep the project alive.
Date : 19 July 2018
------------------------
Started trading with a new note. As I mentioned in the previous post there was some major changes in the trading strategy. Trade risk was reduced to 20% of the usual trade risk. Has to recover the lost capital and then slowly increase the risk eyeing the goal of this project.
The plan seemed to work today as trading TATASTEEL on 1m chart kept me busy and focused in trading, and along with it tracking other stocks on 5m chart was not a problem since I was fully concentrated. But also, the market was mostly dead today so real challenge will be faced on days when there will be too much volatility and movements.
==============================
TATASTEEL - 1m trades
=================
The sharp downmove during the open did not sustain below previous day low, and an uptrend was started. Entered LONG on uptrend, this trade worked well.
Then did a mistake on my attempt to enter on a fast falling market. Entered SHORT right at bottom. This trade was scracthed. But the third trade was a rejection near sideways top and gave some good profit.
5m intraday trades
------------------------
Entered LONG on TATAMOTORS, when price was turning in to a potential uptrend, but the trade did not workout, and I had to scratch immediately.
2nd trade was a SHORT on AXISBANK, AXISBANK was in an uptrend above previous day's sideways range, but I started looking for reversal when the bullish momentum faded. Used the concept of ERL (not as per the flow method) for taking the SHORT. The trade worked good, but had to exit manually as it was close to 3PM
Net Position
==========
Note to Self : Need to study the LT and HINDALCO chart as they have moved quite well for today but in realtime I did not get any setup in them..
------------------------
Started trading with a new note. As I mentioned in the previous post there was some major changes in the trading strategy. Trade risk was reduced to 20% of the usual trade risk. Has to recover the lost capital and then slowly increase the risk eyeing the goal of this project.
The plan seemed to work today as trading TATASTEEL on 1m chart kept me busy and focused in trading, and along with it tracking other stocks on 5m chart was not a problem since I was fully concentrated. But also, the market was mostly dead today so real challenge will be faced on days when there will be too much volatility and movements.
==============================
TATASTEEL - 1m trades
=================
The sharp downmove during the open did not sustain below previous day low, and an uptrend was started. Entered LONG on uptrend, this trade worked well.
Then did a mistake on my attempt to enter on a fast falling market. Entered SHORT right at bottom. This trade was scracthed. But the third trade was a rejection near sideways top and gave some good profit.
5m intraday trades
------------------------
Entered LONG on TATAMOTORS, when price was turning in to a potential uptrend, but the trade did not workout, and I had to scratch immediately.
2nd trade was a SHORT on AXISBANK, AXISBANK was in an uptrend above previous day's sideways range, but I started looking for reversal when the bullish momentum faded. Used the concept of ERL (not as per the flow method) for taking the SHORT. The trade worked good, but had to exit manually as it was close to 3PM
Net Position
==========
Note to Self : Need to study the LT and HINDALCO chart as they have moved quite well for today but in realtime I did not get any setup in them..
Weekly Report
Trade wise equity curve
10 weeks are gone. 10 more weeks are left. I am standing exactly at the mid point of this challenge duration.
A new downtrend has started in Equity curve, But on last few days, with some major modification in trading startegy the downside momentum has slowed down. Need to work hard to reverse this ongoing downtrend and turn it up.
Do I still believe that the challenge is achievable ?? YES. I DO..
It can be. The question is whether I can or not... And that's the challenge to myself. To be a better version of myself at the end of this project as compared to what I was at the beginning.
... NEVER GIVE UP....
========================
After some rigorous experiemnt, I am going to try trading only NIFTY and BANKNIFTY future for this week. Further evaluation will be done at the end of this week
Trade wise equity curve
10 weeks are gone. 10 more weeks are left. I am standing exactly at the mid point of this challenge duration.
A new downtrend has started in Equity curve, But on last few days, with some major modification in trading startegy the downside momentum has slowed down. Need to work hard to reverse this ongoing downtrend and turn it up.
Do I still believe that the challenge is achievable ?? YES. I DO..
It can be. The question is whether I can or not... And that's the challenge to myself. To be a better version of myself at the end of this project as compared to what I was at the beginning.
... NEVER GIVE UP....
========================
After some rigorous experiemnt, I am going to try trading only NIFTY and BANKNIFTY future for this week. Further evaluation will be done at the end of this week
Date : 23 July 2018
Just one trade opportunity was there.. BUt I missed it..NIFTY was in a range with no trade opportunity since morning,, And again I faced the same challenge of boredom with no trade till 2PM. Ad by the time it came I was not fully attentive to read the price action. Though I recognised it, I did not want to chase it.
Many times I thought of going back to track multiple symbols, and thought If I would have been tracking more symbols, may be there woulde be trading opportunities today. At this time (at the mid way in my challenge) it (experimenting with trading instruments) may appear like a mistake but again may be its too early to judge. So will trade it for this week. From tomorrow will include BANKNIFTY as well. I believe if I do everything correctly and a bit of luck on my side, then even 2 months are enough for my challenge. So has to test this also.
This week will be a good test to get accustomed with the boredom and still maintaining a focused mindset. All the loose ends are going to get connected this time.. ... NEVER GIVE UP ...
Just one trade opportunity was there.. BUt I missed it..NIFTY was in a range with no trade opportunity since morning,, And again I faced the same challenge of boredom with no trade till 2PM. Ad by the time it came I was not fully attentive to read the price action. Though I recognised it, I did not want to chase it.
Many times I thought of going back to track multiple symbols, and thought If I would have been tracking more symbols, may be there woulde be trading opportunities today. At this time (at the mid way in my challenge) it (experimenting with trading instruments) may appear like a mistake but again may be its too early to judge. So will trade it for this week. From tomorrow will include BANKNIFTY as well. I believe if I do everything correctly and a bit of luck on my side, then even 2 months are enough for my challenge. So has to test this also.
This week will be a good test to get accustomed with the boredom and still maintaining a focused mindset. All the loose ends are going to get connected this time.. ... NEVER GIVE UP ...
Last edited:
One thing is important to understand....if you want to be successful in trading then must be ready for boredom.in my experience succesfull trading is (at least 3min and abv tf trades) boring one...if you want pleasure then trade with multiscrips wandering arround those scrips always busy....after time will give you a lesson.am still not found a way to manage these boredom......
Though there are few traders they have capabilities to handle multi scrips....thats inborn skill
Though there are few traders they have capabilities to handle multi scrips....thats inborn skill
One thing is important to understand....if you want to be successful in trading then must be ready for boredom.in my experience succesfull trading is (at least 3min and abv tf trades) boring one...if you want pleasure then trade with multiscrips wandering arround those scrips always busy....after time will give you a lesson.am still not found a way to manage these boredom......
Though there are few traders they have capabilities to handle multi scrips....thats inborn skill
Though there are few traders they have capabilities to handle multi scrips....thats inborn skill
In my past I have traded 10/15 stocks, and managed all of them successfully and traded well. I have had good days with them. But then due to my lack of commitment and loose of focus my performance tend to fall. You see I get these boredom from 15 stocks too, So that's something in me and I have to deal with it..no matter If I am tracking 1 symbol or 15 symbols. I loose focus too early and I have to overcome this personal obstacle this time..
Then why I am testing now with 2 symbols, stopping multiple scripts ?? As you see yesterday I traded 1m chart on Nifty future. For last few days I have been trading TATASTEEL on 1m chart along with 10 others on 5m chart.. Coz as with time I am settling with a objective strategy to trade on I am realising as a trend followers my edge will work more during a trend. On 5m chart a trend development from rangebound market is quite slow. But in 1m chart I see a trend originating/sustaining/continuing/reversing to another trend/range in one day.. And not just for once for multiple times. So there are more trading opportunities for me.. But yes I have deal with the noise that 1m brings as compared to a higher timeframe.. But i am finding and this suits me personality better,, So I am testing for 1 week with NIFTY and BANKNIFTY future. Lets see how it goes.
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