Following is the actual trading journal for the week of March 14-18, 2016.
To increase the success in trading :
1. Reduce the no. of errors
2. Gain insight into the market
To better #1, there are two ways to achieve it.One is to reduce the overall number of trades and the other is to reduce the number of wrong trades. This will invariably increase the number of successful trades. One has to sit patiently and wait for a good risk reward trade to appear on the screen. For this one need to gain more insight into the market movement and analyse it with a technical analysts eye.
For ex: In the below chart we can see
1. When the market 7553 DHema on 14th, the next day all rise should be used to sell Nifty as long as it stays below DHema with DHema as the SL or 20 point as SL. (This is strictly for intraday, for carrying this short into next day market has to move below DLema and close below it.)
2. Another low risk entry point was when Nifty moved below DLema-30 near 7405 area. Enter long with 30 points as SL. This was moving back above DLema and closing above it. This will eventually go above DHema. So wait for it.
On the lighter side, If I had just reversed the color of my trade entries from green to red then I would have just achieved spectacular profit :-)
Please note: None of these are any recommendations. They are just learning's and notes from my observations.
Green indicates long entry. Number '1' indicates this is the 1st order for the week/day. 7562 is Nifty sport price at the time of entry. 'B' indicates it is Buy. Green also indicates Buy.
Red indicates it is a Sell. 'S' indicates it is a Sell.- Vertical line indicates the start and end period of the day.
-
Indicates the DLema for the day. 
DHema for the day.
1. Reduce the no. of errors
2. Gain insight into the market
To better #1, there are two ways to achieve it.One is to reduce the overall number of trades and the other is to reduce the number of wrong trades. This will invariably increase the number of successful trades. One has to sit patiently and wait for a good risk reward trade to appear on the screen. For this one need to gain more insight into the market movement and analyse it with a technical analysts eye.
For ex: In the below chart we can see
1. When the market 7553 DHema on 14th, the next day all rise should be used to sell Nifty as long as it stays below DHema with DHema as the SL or 20 point as SL. (This is strictly for intraday, for carrying this short into next day market has to move below DLema and close below it.)
2. Another low risk entry point was when Nifty moved below DLema-30 near 7405 area. Enter long with 30 points as SL. This was moving back above DLema and closing above it. This will eventually go above DHema. So wait for it.
On the lighter side, If I had just reversed the color of my trade entries from green to red then I would have just achieved spectacular profit :-)
Please note: None of these are any recommendations. They are just learning's and notes from my observations.
No comments:
Post a Comment