Trading Challenge : My journey from 1.5Lakh to 6Lakh in 5months

#21
Objective : Make 4.5L (300%) profit from 1.5L trading capital by Sep 2018

My trading capital = 1.5L
Target = 6L i.e. 300% return
Start Time = 14 May 2018
End time = 30 Sep 2018

Trading Mode = Strictly Intraday
Trading Instrument = NIFTY 50 CASH
My only wish for you is that you do not lose your capital/blow your account. But to steer you in the right direction I would like to say:

1) Trades never make you any money.
2) A trading system or trading plan or a set of rules is what makes you money.
3) Discipline, patience and courage to stay within the confines of your trading plan will make you money.

I do not mean to step on your toes but I feel that setting monetary goals is the most harmful thing you can do to your trading account. You can have all kinds of challenging market environments, and the trading opportunities might just not pop up, as per your wish. Then, if you start falling short of your goal, you may start to place trades in a particular market environment that doesn’t favor your game plan. Keep yourself consistent and don’t make spontaneous trades outside of your rules just because you think you should be in the market. Make consistency in your decisions the goal, not money. If you do that, the money will follow. Best wishes, mate.
 

newtrader101

Well-Known Member
#22
My trade leverage are not fixed for every trades. Position sizing is calculated with % risk based on total trading capital. For me it is max 1%. But as I have mentioned before in case of some situation i will reduce the risk%, but the maximum trade risk is 1%. If I take only these high risk trades in to account, then on an average my exposure comes around 4x to 6x of my trading capital.
If you follow your system, then there is no cause for concern. All the best.
 

marimuthu13

Well-Known Member
#23
My only wish for you is that you do not lose your capital/blow your account. But to steer you in the right direction I would like to say:

1) Trades never make you any money.
2) A trading system or trading plan or a set of rules is what makes you money.
3) Discipline, patience and courage to stay within the confines of your trading plan will make you money.

I do not mean to step on your toes but I feel that setting monetary goals is the most harmful thing you can do to your trading account. You can have all kinds of challenging market environments, and the trading opportunities might just not pop up, as per your wish. Then, if you start falling short of your goal, you may start to place trades in a particular market environment that doesn’t favor your game plan. Keep yourself consistent and don’t make spontaneous trades outside of your rules just because you think you should be in the market. Make consistency in your decisions the goal, not money. If you do that, the money will follow. Best wishes, mate.
lovely reply..
 

afin

Rocky Mountain Doomsday Guy
#26
All the best, I will track this page with intent.
 

SwagatN

Well-Known Member
#27
Date = 14 may 2018

First trade was on AXISBANK, as it broke above a sideways range. The slight gap down during open gave the pullback, and strong bullish candle shows buying. I entered long above 1st 5m candle high. Bullish sentiment got weak, and the trade did not perform, Had to scratch and exit.





2nd trade was also on AXISBANK. After the 1st LONG failed price corrected to EMA where I attempted to enter LONG again. and this too failed and I exited at loss. This trade was a mistake as I failed to confirm the price action from HTF, 30m chart. The 1st upleg was showing a clear sign of weakening bullish sentiment. And no strong buying was seen in the pullback, so should not have picked this trade.





Trade 3 was on TATASTEEL, which was in an uptrend. A new swing high was made after some deeper corection in past session. I attempted a LONG on the next pullback to EMA. The trade did not work and I had to exit. Here also I failed to notice the HTF and the trade should have been a no trade too. I had taken a moderate risk here after the earlier two losses.






I committed some serious blunders today and failed to perform as per my rules. Equity is down by more than 2%.
Tomorrow I have to trade on reduced risk to stay in the game as per the loss management system.



==============
Sometimes all you need is to slow down to race forwards..
Even a tiger steps backward before it pounces on its prey.

Practice, Practice, Practice...
Knowledge learned has no value unless it is put into practice..
Do it over and over again until it becomes a part of who you are..
 

TraderGYO

Well-Known Member
#28
Date = 14 may 2018

First trade was on AXISBANK, as it broke above a sideways range. The slight gap down during open gave the pullback, and strong bullish candle shows buying. I entered long above 1st 5m candle high. Bullish sentiment got weak, and the trade did not perform, Had to scratch and exit.





2nd trade was also on AXISBANK. After the 1st LONG failed price corrected to EMA where I attempted to enter LONG again. and this too failed and I exited at loss. This trade was a mistake as I failed to confirm the price action from HTF, 30m chart. The 1st upleg was showing a clear sign of weakening bullish sentiment. And no strong buying was seen in the pullback, so should not have picked this trade.





Trade 3 was on TATASTEEL, which was in an uptrend. A new swing high was made after some deeper corection in past session. I attempted a LONG on the next pullback to EMA. The trade did not work and I had to exit. Here also I failed to notice the HTF and the trade should have been a no trade too. I had taken a moderate risk here after the earlier two losses.






I committed some serious blunders today and failed to perform as per my rules. Equity is down by more than 2%.
Tomorrow I have to trade on reduced risk to stay in the game as per the loss management system.



==============
Sometimes all you need is to slow down to race forwards..
Even a tiger steps backward before it pounces on its prey.

Practice, Practice, Practice...
Knowledge learned has no value unless it is put into practice..
Do it over and over again until it becomes a part of who you are..
It is wrong to comment on someone else's trading style but here is my advice - your stop-losses are way too close. Make them bigger and trade small quantity so that the risk remains the same. And when the Breakouts are looking weak treat them as a developing channel so that even if there are deep pullbacks it will come to the prior entry price.
 
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Tuna

Listen and act, don't ask it, it doesn't oblige
#29
Objective : Make 4.5L (300%) profit from 1.5L trading capital by Sep 2018

My trading capital = 1.5L
Target = 6L i.e. 300% return
Start Time = 14 May 2018
End time = 30 Sep 2018

Trading Mode = Strictly Intraday
Trading Instrument = NIFTY 50 CASH
300% return in 5 months? Well that is sometime possible even in 1 trade (OTM options in rally turning into ITM one in 3-4 days? ) . But...I guess lets get serious. Do me a favour. Do let us know when you have lost 50% of your capital. I want to see if it takes more than 2 months.

I understand my post may seem hurting and discouraging.

But all the trading failures come from unrealistc expectation - yours one is a classic case.
 
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