Walk With Me

Hi..This is just another trading diary which will be filled with thoughts , emotions , records and of course the all time favourite charting patterns. Now the question arises who am I and why am I doing this ? In short I have done MBA Finance specialisation in 2008 , jobless during recession , full time overly optimistic trader to full time scared trader , Still jobless , made a goal to get really good in trading , studied literally everything that I could get for free on the internet , bought unnecessary financial products , Still jobless :p , under capitalised and eventually quit. This went on for about end of 2013 and I threw in the towel and got trading out of my system. I had gone from Nifty FNO to MCX Gold to MCX Silver to Banknifty. Researching like crazy to find an edge. Net Result in these 5 years was i literally made nothing and put myself in an extremely tough spot in life and trading. Thank God my mother is financially decent and stable and has helped me always. Love you Mom :)

Fast forward 2 years ahead in time to 2015 where I have a half decent business which does well but can do better. And I haven't looked at the market for 2 years and am living a nice peaceful life without any internal conflict. So I did what what any other sane person would do. I still didn't look at the market for another 2 years and worked on my business. Now the business has become quite good but still room for improvement and now one fine day I look at the market. At this point of time I am just looking without any motive of profitability or agenda. Just seeing what makes the market move and what happened in those 5 years. With clarity and peace at my side I started to occassionally see what was happening in Banknifty and how the market moves as such. Started using some free sites to track EOD price and eventually got into the habit of just spotting price movement. Fast forward one more year ahead in time to 2018 and now business is even better and I have shifted to another city and opened another branch.

What I have learnt in these 10 years :
A. Markets have a predictable pattern. Yes they do. But don't take my word for it. Go figure.
B. Choose your timeframe wisely. It could probably be the only factor holding you back.
C. Do not start under capitalised. Might as well burn that money.
D. Learn to pull the trigger and also book a loss.
E. Stop making decisions on the go. Always have a plan. Specially during failure.
F. Be confident. You got this. It's just a part of life. Don't give it excess meaning.

Here I will be posting my trades and as well as my views about Banknifty when I believe there is a phase shift in the market. MY timeframe for trading is based on weekly charts so they frequency of these trades will not be on the higher side , starting capital 1 lakh as of now and 5 lakhs as backup as long as i maintain discipline and an ROI more than bank interest. No official trading account as of now so doing it with some unofficial sources. Also some broker recommendations would be great if anyone can. Also some tracking software since i intend to track MCX Silver before trading it again. Feel free to ask any questions. Thank You for reading this super long post :)
Happy New Year everyone. Finally got a trading ac opened with Zerodha. Any suggestions which tracking software I can use for EOD? I'm basically using an EOD free data website as of now.
In my first post I had written about trading weekly charts. From that time to about a month back I have switched to daily charts and have been applying my ideas to trade it. Today morning went short on BNF and we are in the money today without any hiccups. But this has also signaled an exit for all short positions without entering any long position. From my trading experience and research and understanding such a phase is usually a build up for going long where existing long positions are shook out of the market to create an image of supply over demand. When the market opens an opportunity will enter it. Neutral as of now without any strong bias but will keenly look at entering long positions if market conditions are right from my POV.

1st trade was a profit and was very smooth and was executed to the T.

Cheers and thanks for looking out and showing your support to this thread.
Hello friends. Its been a while. Slight update. I am back on the trading bandwagon again but this time with a twist. I am using a combination of Daily charts and hourly and sometimes 2H charts to take a position.

Initial Deposit of 4L made in the month of February 2021...Trading 2 Lots at a time on NRML
On 12-02-21 had taken a long position in BNF and had exited in a few days with decent profits. I think +20k it had fetched . Nearly points
Then on 24-02-21 had gone long but did not exit at the desired exit and invariably lost 5k on it. Was up 80k on this trade at one point of time
Then after a few weeks of no activity made a mistake and took a trade against the market wave and went long. Down around 20k
Repeated this same mistake again a few days later. Down around 18k
Then chickened out and did not take a short position and missed out on a potential of 2000 points
Then after that took a trade on the short side and then the market reversed and hit my SL. Down around 15k. Account -35k at this time
Then from 17th May till now have been long and trade is in the money 1L+
Have added 2L more in capital as i am able to trust my system and execute it with complete confidence

I intend to be active on these forums. I cannot explain what a gift this trading life feels like right now. Feels like my 6-7 years of intense education and learning is starting to show.

Ohm Shanti

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