Veera's Trading Diary

#83
Hi friends,

Not traded today.
I had stopped trading in NIFTY and BANKNIFTY in hourly timeframe.
Very poor success rate 31%.(unexpected success rate)
I expected at least 50% success rate for a 79% success rate system.

Lost 14 k in this 13 trades after brokerage.
I still think my system is still a successful trading system and this 14k loss is a small 3.5% drawdown.
I am not ready to loss further.

Zerodha pi software is not compatible with robotask(Used to instant fill up of order window).
So switching to another broker who use nest, NOW for convinience.

I will restart trading in Crudeoil mini to preserve remaining capital and to test my trading abilities.
If profit come then I will switch to Crudeoil mega.

I will trade my discretionary system in Crudeoil mini.

This is my current safety plan.

Happy Trading,,,
Veera.
 

SwagatN

Well-Known Member
#84
If you still think your system is a profitable one, and this 3.5% drawdown is okay, then there should not be any issue in continuing to trade with it. There is absolutely no reason to abandon it and jump to some back up system. It is just the amount of lost money with which you are not able to make peace with it. i.e. nearly 10% loss on a capital of 1.5K. For every trader staying in the game should be the most crucial part to think about as it is about a winning system and execution.

Hence if the loss amount is bothering you, why dont you start small with cash market ? Atleast during a loosing streak you can be on the game by reducing the risk and keep trading the system till your method gets its winning streak back..

Just tried to give you some suggestions. Decision is yours
 

gambler

Well-Known Member
#85
Hi friends,

Not traded today.
I had stopped trading in NIFTY and BANKNIFTY in hourly timeframe.
Very poor success rate 31%.(unexpected success rate)
I expected at least 50% success rate for a 79% success rate system.

Lost 14 k in this 13 trades after brokerage.
I still think my system is still a successful trading system and this 14k loss is a small 3.5% drawdown.
I am not ready to loss further.

Zerodha pi software is not compatible with robotask(Used to instant fill up of order window).
So switching to another broker who use nest, NOW for convinience.

I will restart trading in Crudeoil mini to preserve remaining capital and to test my trading abilities.
If profit come then I will switch to Crudeoil mega.

I will trade my discretionary system in Crudeoil mini.

This is my current safety plan.

Happy Trading,,,
Veera.
Take time and analyse everything, market is not going anywhere.. My advise go for better R:R ratio
 

gambler

Well-Known Member
#86
Hi friends,

Not traded today.
I had stopped trading in NIFTY and BANKNIFTY in hourly timeframe.
Very poor success rate 31%.(unexpected success rate)
I expected at least 50% success rate for a 79% success rate system.

Lost 14 k in this 13 trades after brokerage.
I still think my system is still a successful trading system and this 14k loss is a small 3.5% drawdown.
I am not ready to loss further.

Zerodha pi software is not compatible with robotask(Used to instant fill up of order window).
So switching to another broker who use nest, NOW for convinience.

I will restart trading in Crudeoil mini to preserve remaining capital and to test my trading abilities.
If profit come then I will switch to Crudeoil mega.

I will trade my discretionary system in Crudeoil mini.

This is my current safety plan.

Happy Trading,,,
Veera.
Take time and analyse everything, market is not going anywhere.. My advise go for better R:R ratio.
 

Pradeep Narayan

Well-Known Member
#88
Please stop trading for now.

Your posts show contradicting behavior patterns & this could be your reason for not succeeding. There was a period I had only losses everyday from Aug 2015 to Nov 2015. I was blaming Nest, moved to Sharekhan & then blamed brokerage and moved back to SAS and even replaced my ISP twice. However, the losses were continuing and there was no respite at all. It all ended when I wiped my account clean :)

Today I trade with SAS, they have their own shortcomings, but I have learned to live with them. One should build and refine the trading strategy that uses the positives around us - brokerage, leverage etc. while accounting for the negatives - slow connection, wrong data etc.

Introspect & redo. You will definitely succeed! Finally, change your behavior towards trading... I am telling this again- "In trading there are many factors that we can control and change & one that we cannot."
 

Trader987

The Disciplined Trader
#89
Hi friends,

Not traded today.
I had stopped trading in NIFTY and BANKNIFTY in hourly timeframe.
Very poor success rate 31%.(unexpected success rate)
I expected at least 50% success rate for a 79% success rate system.

Lost 14 k in this 13 trades after brokerage.
I still think my system is still a successful trading system and this 14k loss is a small 3.5% drawdown.
I am not ready to loss further.

Zerodha pi software is not compatible with robotask(Used to instant fill up of order window).
So switching to another broker who use nest, NOW for convinience.

I will restart trading in Crudeoil mini to preserve remaining capital and to test my trading abilities.
If profit come then I will switch to Crudeoil mega.

I will trade my discretionary system in Crudeoil mini.

This is my current safety plan.

Happy Trading,,,
Veera.
Actually every trading system goes in to losing period whether you like it or not. So your system will have losing streaks as well as it will have winning streak too. But most probably majority of the trader lose their faith in the system when their system goes in to losing streak. That happens because of betting big amounts.

Now in your case, you are not ready to lose further...well, how do you know you are surely going to lose further? May be you have got that unexpected poor success rate of 31 % that's why you are not willing to trade the system further. It seems that you have determined your success rate of 31% by placing 13 trades. Really..!! You said you are expecting at least 50% success rate. Even with a 60% win rate, you have a 1% chance of losing 10 trades in a row. that's statistics. And statistics plays its role whether you are aware of it or not.

I thinks your are not comfortable with the loss amount. Otherwise drawdown of 3.5 % is pretty much normal. No matter whatever system you use , you will still face this kind of drawdowns. So you better reduce the amount of risk you are taking per trade.
 

jagankris

Well-Known Member
#90
Actually every trading system goes in to losing period whether you like it or not. So your system will have losing streaks as well as it will have winning streak too. But most probably majority of the trader lose their faith in the system when their system goes in to losing streak. That happens because of betting big amounts.
He traded Nifty and Bank Nifty together and some trades with 2 lots.
All most both failed in failure trades and both succeeded in winning trades.
The drawdown is 8.8% and not 3.5%.
As per his backtesting the max drawdown was 2% and max consequetive faliures 5 trades.Not sure if he included transaction costs in the backtesting.
Probably some thing wrong with the backtesting results.
In a move from 10410 to 10700 it just captured 21 points rest all failure.
Better to paper trade for some time and make sure the system is as per his expectations than to further risk not knowing if the system really has possitive expectancy or not.
 

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