Trading Journal (Price action)

[xrtrader1]

Re: Food for thought (Patience)

Yep, patience is the key, and lot of disci,5,10pline is also required.

Why don't to shift to higher tf and see, atleast 15 mins and above

Key is to stick to what works for you, and remove what doesn't.
I used to trade 3,5,10,15,30 TF. Some times ever 1 min if Vola was high. With hell lot of indicators.

With time settled with 3 min. That works fine for my personality.

 

[trump]

Re: Dec#09

Expected few swings in markets.
Slow moving Day. Not liking PA.
Done for the day.

Why not liking PA? because it didn't let you trade?
yeah it didn't give a trade to me except during the open.it was range bound with very tight range. Taking trade would have been only scratches.
More over you have written about lot size , I adjust my lot size as per volatility only, when risk is higher reduce lots and when trending full lot as per my money management and account size.

 

[trump]

Re: Food for thought (Patience)

Key is to stick to what works for you, and remove what doesn't.
I used to trade 3,5,10,15,30 TF. Some times ever 1 min if Vola was high. With hell lot of indicators.

With time settled with 3 min. That works fine for my personality.

:clapping::clap::thumb:
You are a veteran of 10 years, you know better for sure.

 

[xrtrader1]

Re: Dec#09

Why not liking PA? because it didn't let you trade?
yeah it didn't give a trade to me except during the open.it was range bound with very tight range. Taking trade would have been only scratches.
More over you have written about lot size , I adjust my lot size as per volatility only, when risk is higher reduce lots and when trending full lot as per my money management and account size.

In general I am not liking Dec price action. Few days in this month didn't give any entries.
Reason for not liking today's PA is it moved into Barbwire (very low range moment of 10 point, it tried breaking 400 got reject, tried going below 390 got rejected.
Ideal play would be to wait for price to come to 375 and go long from there. Felt that will not happen any time soon after 2:00 pm.

 

[starscream]

Re: Dec#09

In general I am not liking Dec price action. Few days in this month didn't give any entries.
Reason for not liking today's PA is it moved into Barbwire (very low range moment of 10 point, it tried breaking 400 got reject, tried going below 390 got rejected.
Ideal play would be to wait for price to come to 375 and go long from there. Felt that will not happen any time soon after 2:00 pm.

thanks a lot.
i like the way you play price action.
actually i wanted to short 400 but since R:R wasnt fav if low would have been around 370 r:r would have been 1:3 and short could have been taken.
never realised taking the long trade you took. nice work. keep us posted for us amateurs to learn from veterans like you.:thumb:

 

[sach007]

Re: Dec#09

Hi Starscream,
Datafeed: I trade with Interactive Brokers. IB's datafeed is compatible with NT.
Other option is to go with global datafeeds, I don't use it check for details in there site.
Check for details about NT here
http://www.ninjatrader.com

Personally I feel any charting tool is fine (amibroker, NT, Sierracharts..).

What is Brokerage and other Charges charged by INTERACTIVE BROKERS in INDIA ?

 

[xrtrader1]

Re: Dec#09

What is Brokerage and other Charges charged by INTERACTIVE BROKERS in INDIA ?

https://www.interactivebrokers.co.in/en/accounts/fees/indiaStockExchangeFees.php?ib_entity=llc

Few pros and cons to start with:
Cons:
Breakeven for IB is bit high compared to other brokers (zerodha).

Pros:
Very good trading experience because of NT or IB trading platform TWS.
Trading option chains/condors/butterflies.. is easier in TWS.

 

[trump]

Re: Dec#09

In general I am not liking Dec price action. Few days in this month didn't give any entries.
Reason for not liking today's PA is it moved into Barbwire (very low range moment of 10 point, it tried breaking 400 got reject, tried going below 390 got rejected.
Ideal play would be to wait for price to come to 375 and go long from there. Felt that will not happen any time soon after 2:00 pm.

Well the days range is really low Avg around 55- 60 points. Debarring GAPS , its really scratch plays through out the day.

 

[starscream]

Re: Dec#09

How much brokerage per lot

https://www.interactivebrokers.co.in/en/accounts/fees/indiaStockExchangeFees.php?ib_entity=llc

Few pros and cons to start with:
Cons:
Breakeven for IB is bit high compared to other brokers (zerodha).

Pros:
Very good trading experience because of NT or IB trading platform TWS.
Trading option chains/condors/butterflies.. is easier in TWS.

 

[xrtrader1]

Re: Dec#09

How much brokerage per lot

.01% on Sell side.