Veera's Trading Diary

#12
Dear veeramuthu,
In these 200trading days how many methods you tryed?average days of single method traded?how many tweeks done in method ...is trading done as per Mm?after these 6 years you found a method which suits your personality?you found some edge in your method?....too many Qs :) sorry....these are important points for start a successfull in trading....best of luck in your new start
Dear Vijay,
In those 200 trading days 75% of the trading days i had traded elliot wave after the correction entry method.
It is a discretionary trading method.

I never followed money management in all 6 years. Never.

Backtesting shown hourly better than 15 min and 30 min.

First time going to follow money management.
First time going to trade without leverage.(NRML)

My mind says this time i will win.

My current method:

Timeframe: hourly
Scrips: NIFTY & BANKNIFTY Futures
Risk Reward Ratio: 1 : 1.4
Success rate: 79%
Drawdown: 2%
Trades per day: aprx. 2
Capital: 158000
Risk per Trade: Maximum Rs 3500
Duration: 1 or 2 days

Happy trading...
Veera.
 

VJAY

Well-Known Member
#14
Dear Vijay,
In those 200 trading days 75% of the trading days i had traded elliot wave after the correction entry method.
It is a discretionary trading method.

I never followed money management in all 6 years. Never.

Backtesting shown hourly better than 15 min and 30 min.

First time going to follow money management.
First time going to trade without leverage.(NRML)

My mind says this time i will win.

My current method:
Timeframe: hourly
Scrips: NIFTY & BANKNIFTY Futures
Risk Reward Ratio: 1 : 1.4
Success rate: 79%
Drawdown: 2%
Trades per day: aprx. 2
Capital: 158000
Risk per Trade: Maximum Rs 3500
Duration: 1 or 2 days

Happy trading...
Veera.
Thats great ...you found whats the main problem with you..mm ...thats why I asked those stupid Qs :)...
Sure this time you will winner...not only winner....you will grow in fast ...in trading mostly we not find the problem with us ....if found unable to correct it....but you done it through kept records of your past trades...which helped you a lot
 

Pradeep Narayan

Well-Known Member
#15
There is one wide double bottom at the end. Uptrend is waiting up next.
All the best.
In trading there are many parameters that are in your control and 1 parameter that you have no control on. Most of us start chasing this one parameter and try to get a control on it... the real trick is to control the others and treat the uncontrollable as a wild parameter.
Happy Trading!
 

pannet1

Well-Known Member
#16
vanakkam veeramuthu,

nothing can be talked about to help a discretionary trader.
if this was systematic, then we can easily see that the system has an edge with the 2 spikes.
adding to that since you admit that there was a problem with money management, so we just need to correct it.
now a new system without backtesting. that is a X factor now.

loosing 2 lakhs in 6 years does not seem to be big deal, but the value of 6 years in your prime time of life :-(
i am not an expert and sorry for sounding sceptical. these are just my thoughts. please ignore if it does not help. i wish you very best.

PS: reg the 2 spikes, i thought you were just taking the profits and leaving the hedge in loss.
the first step of success is backtesting your system.
 

sanju005ind

Investor, Option Writer
#17
In a trade log you need to maintain the Instrument traded , Direction ,TF and reason.Later it will be helpful for analysis.Going by the P&L for each day it seems during the initial days you were booking profits early in fear of turning them to a loss since your loses are bigger than gains. Also I observe that there are frequent trades taken on certain days where the losses are bigger.One thing that really helps me is taking a break when I am losing continuously for a set period.Free my mind read and analyse and then come back.
 

VJAY

Well-Known Member
#18
In a trade log you need to maintain the Instrument traded , Direction ,TF and reason.Later it will be helpful for analysis.Going by the P&L for each day it seems during the initial days you were booking profits early in fear of turning them to a loss since your loses are bigger than gains. Also I observe that there are frequent trades taken on certain days where the losses are bigger.One thing that really helps me is taking a break when I am losing continuously for a set period.Free my mind read and analyse and then come back.
Rightly said.... Backtest is must for any method...also if continues loss trades coming must take break for minimum 2--3 days ...loss trades mostly due to our own fault....review it ,correct it and back to trade....after backtest mostly know how much drawback in our method....once that limit exceeds ita time to break &review those trades
 

jagankris

Well-Known Member
#20
My Strategy Backtesting Result:

Timeframe: Hourly
Period: jan 2008 to dec 2017 (9 years)
Profit: 1402% (avg 13% per month)
Maximum system drawdown: 2.99%
Total trades: 1857 (avg 0.85 trades per day)
Risk Reward Ratio: 1.4
Winners: 76.20%




Happy Trading...
Veera.
You said it is a discretonary trading system how did you backtest the system ?
Are you sure Maximum system drawdown is just 3%
No loosing streaks ? What about Sideways markets ?

Can you pls post few charts to understand your strategy better ?