Trading Diary of a Novice Trader (MIN NIFTY)

[Ajit57]

Hi,

Trades for 06/08/2012.

Sold 1 lot at 5294 and bought it at 5288.
then
Bought 1 lot at 5296 and sold it at 5305.

All in all gain of 18 points ... (Not much, but not bad in a range bound market) ...

 

[Ajit57]

I tried using ST Sir's formula but even after more than 5 bars on OB and OS zone, it didn't got very far ... But nonetheless, analysis of charts helped ... Thanks ST Sir ... Any comment on the chart is welcome ...

 

[Ajit57]

Hi,

Trades for 06/08/2012.

Sold 1 lot at 5294 and bought it at 5288.
then
Bought 1 lot at 5296 and sold it at 5305.

All in all gain of 18 points ... (Not much, but not bad in a range bound market) ...

Even after the 5 Bars, instead of going downwards, it went upwards ... If you could kindly explain the reason ST Sir, I would be obliged ... Thanks

 

[Ajit57]

Yesterday (8th August) was a mess up day ... 5 Trades went wrong, but finally shorted two lots of MN and covered 800 ... but still 300 down + brokerage (around total 1000 down) ...

Now for the positive ... Today initiated two trades :

Shorted at 5358 bought at 5341

Bought at 5343 and sold at 5355 ...

All in all gain of around 27 points ... Not bad ...

 

[Ajit57]

Hi Guys,

Interesting day today for Intraday NIfty Future Traders !!!

Will post today's trades :

1. Bought 1 lot MNF at 5414. Saw the Stoch going up and bought it at around 12.30. I was correct, it made a high of around 5420, but then started to decline. EMA3 very quickly going down, so decided to exit at 5411. (loss of 3 points)

2. Quickly realised that NF is going down very fast, Sold 2 MNF at 5403 at around 12.50. Was very happy to see Red Candles Then as it came around 5391 started TSL so that I end up in some profit atleast anytime. But unfortunately I had to quit at 5387.

3. But then ST's theory, I could see Stoch oversold for more than 5 bars, so no long - only short ... Quickly shorted two more MNF at around 5388 and then again waited ... It almost went to 5355 but then again TSL (my fear ) , I kept a stop loss of 5359 and it hit ... But this time I was spot on ... It never went back to 5359 ...

4. Next, I saw stoch coming out of OS zone and EMA3 crossing EMA13, and again bought one lot at 5370 ... It went till 5388 but I came out at 5381 ...

So all in all a great day of my MNF career (The best so far ) ... Had a gain of around 84 points ...

Any advice by any seniors including TP, ST, etc... is most welcome ...

Tx

Ajit

 

[Ajit57]

Also, if someone can guide me on stoch whether I should follow the %K or %D ... Books say %D is better ... Any comments ???

 

[gambler]

Also, if someone can guide me on stoch whether I should follow the %K or %D ... Books say %D is better ... Any comments ???

I think St should reply this.

 

[Smart_trade]

Also, if someone can guide me on stoch whether I should follow the %K or %D ... Books say %D is better ... Any comments ???

Ajit,

Your charts in last few posts are not clear. Upload them on Imageshacks and post link in the post so that we can see it clearly and our comments.

Regarding % k and % D ......% K will give early signals but few wrong trades/ false starts. % K will be zigzag in nature, % D will give more smooth line and bit late but definite signals.

Smart_trade

 

[Ajit57]

Tx ST for your answer ... To add on to it even %K & %D Cross overs are important signals for buy and sell ... am I right ??? Also (I know you have answered this many times), but for intraday 5 min charts, do you think 8,3,4 is the best setting ???

Thanks in advance ... Regarding imageshack, i have uploaded in IMGUR and I can see the image when i click it ... Are you not able to view it ???

Please let me know !!!

 

[Ajit57]

http://imageshack.us/photo/my-images/607/immst.png

Hi Guys, (Once again posting chart in Imageshack)

Interesting day today for Intraday NIfty Future Traders !!!

Will post today's trades :

1. Bought 1 lot MNF at 5414. Saw the Stoch going up and bought it at around 12.30. I was correct, it made a high of around 5420, but then started to decline. EMA3 very quickly going down, so decided to exit at 5411. (loss of 3 points)

2. Quickly realised that NF is going down very fast, Sold 2 MNF at 5403 at around 12.50. Was very happy to see Red Candles ) Then as it came around 5391 started TSL so that I end up in some profit atleast anytime. But unfortunately I had to quit at 5387.

3. But then ST's theory, I could see Stoch oversold for more than 5 bars, so no long - only short ... Quickly shorted two more MNF at around 5388 and then again waited ... It almost went to 5355 but then again TSL (my fear ) , I kept a stop loss of 5359 and it hit ... But this time I was spot on ... It never went back to 5359 ...

4. Next, I saw stoch coming out of OS zone and EMA3 crossing EMA13, and again bought one lot at 5370 ... It went till 5388 but I came out at 5381 ...

So all in all a great day of my MNF career (The best so far ) ... Had a gain of around 84 points ...

Any advice by any seniors including TP, ST, etc... is most welcome ...

Tx

Ajit