My Trading dairy 01-03-2019 to 31-03-2019


#61

Entered Infy at 708.75 for targets of 730/740 with Sl at 699. Very good RRR around 2.4.


#62

Started Options trading after longtime. Bought NIFTY 11200 PE at 66 for target of 132 with SL at 39. Expecting Nifty to correct in the next 5-6 trading sessions. Even if target/SL not met will exit the trade before 21.03.2019.


#63

Nifty 11200 PE carrying forward. Bought 1 more lot at 47 to average. Now Avg price is 56.5

Bought Escorts 800 CE at 27.75 for targets of 31/34/36 with SL at 21.5. Target date : 21.03.2019. Expecting Escorts to open strong tomorrow.


#64

averaging options esp on the buy side is a classic noob trade …


#65

Thanks for pointing out.

Actually buying Options itself is highly risky as the time decay works against you.

I felt that if there is no big movement in nifty in the next 2-3 days, 11200 PE will decline sharply. My thinkng is that nifty will be side ways tomorrow. One lot i will exit tomorrow morning if price reaches 60-67 i.e with 1.5 K profit. Other lot will be carried forward. My SL for both lots remains the same i.e 39 i.e around 2.5 K

One more reason to buy one more lot is i have bought Escorts 800 CE hence wanted some more protection from negative market opening.

Please give your views.

Thanks in advance.


#66

hi , how do you get that red line in volume indicator ?


#67

Go to studies and add moving average by selecting the field as volume.


#68

Thanks for posting to see hw fellow traders think and execute…

Do you feel added pressure to perform well since you’re posting your trade journal here?


#69

Nope. I don’t feel any added pressure but I feel more responsible in taking decisions as i am posting my ideas in a public forum.


#70

SL Hit in Escorts. Exited at 21. Hard luck lost 7.5K. Still carrying Nifty 11200 PE at an avg price of 56


#71

Man, you are doing great by showing your trades here. It’s one way of making yourself follow your ‘strategy’.
However, don’t say “hard luck” if you loss 7.5k today in your trades. Luck has nothing to do with trading. When you traded, if you had planned to take a hit of 7.5k, then accept gracefully and move on to the next trade.

Losses and amount value are all relative. Trading ll continously test your limits, till you find your edge. Just my views, no smartness intended.


#72

Thanks for your words.

Its not hard luck. Its my fault that i made a big bet which is huge for my capital size ( I am presently having 1L as capital).

I was planning to trade futures after making 10L capital but somehow i got attracted to this trade (Actually Escorts is not my watch list, I have seen it in some group on telegram).

I was going good with my plans and was in profit of 2K till this trade happened.

Anyways this is a perfect lesson for me. Will not enter F&O segment again until my capital size is sufficient. I will do trading with present capital (Buying in less qty)/paper trading (for short side) till my capital becomes 10L.

As per my risk management strategy, 2% is the max loss i can take in a trade. For 10 L capital, i am comfortable even if i lose one trade i.e 20 K and can carry on for next trade. But with 1 L capital after losing 7K, fear factor comes and i am afraid to take next trade.

Thanks.


#73

Shorted Lupin Mar Fut at 759 for targets of 735/730 with SL at 765 (Virtual entry taken on sensibull paper trading account)

SL at 765 is on closing basis. SL on intraday basis is 772. If price reaches above 772 on intraday basis will exit the trade. If lupin closes above 765, will exit.

Expecting lupin to slip towards 735 levels before march expiry.


#74

Yes, it is always that trade that is outside your plan, which screws the most.

There ll be many days when you doubt your own plan. But it’s a game of probabilities. If your plan, has greater probabilities of winners bigger than loses & for a good sample size. Then cut the cord with any telegram or stock gurus. Stick to your plan, manage your risk and repeat repeat repeat. Many people have a good plan but when comes to execution, it’s a different story.

If your passion lies here, never give up, the process will take you way ahead ultimately.


#75

Thanks for motivational words bro.

I think i fall in the above category. When i trade with 1 lakh capital, i follow and execute my plan perfectly. When i go for bigger bets with the same capital, i had screwed it till date. The reason i found is that i trade with out a plan when i go for bigger bets.

I assume that the solution lies with increasing the capital but i have to try it in real market after arranging the capital. I am hoping to arrange 10L with in 3
-4 years.

I vl trade in equities till that time to master my planning and execution.No more bigger bets till that time.


#76

Carrying Forward Lupin.

Entered IGL at 301 for target of 315-320 with SL at 292

Entered Infratel at 326.5 for target of 338-345 with SL at 319


#77

Blockquote
I was planning to trade futures after making 10L capital but somehow i got attracted to this trade

This is exactly what happens in the long run. Its kind of a viscous cycle which seems very hard to break for retail traders. When you resume trading after a break, the level of discipline is very high initially and that gives good results. These good results in turn boost our confidence levels which is what proves harmful as when we start feeling confident, we tend to take unplanned trades / over trade / use high leverage or make similar rookie mistakes and then end up with that one loser of a trade which drags us down and the cycle continues infinitely.

I see that you did well for over 1 month and then took this trade in F&O segment which gave you a blow of 7.5 (7%+) which will subconsciously affect your trading no matter how hard you try to get it out of your brain.

I am interested to know what is your current state of mind and also how do you plan to go ahead for the next month (strategy?) as strict discipline is something retail traders lack and are prone to take 99 right trades and 1 wrong trade that ruins it all.


#78

Dear @REVANTH Is paper trading is a premium feature/plan in Sensibull?


#79

Yup.Absolutely agree with you @Shashank_Shirke.

I was doing good with my planning even though there were some minor flaws in maintaining the trades after taking entry. I think there will be a subconscious mind in every trader which keeps on fighting to dominate the conscious mind. Once in a while it dominates the conscious mind and when it does all our hard work done form the last 20-30 trades goes in vain.

Things which went wrong in the escorts trade as per my analysis.

  1. Entry was correct.
  2. The stock went to consolidation move before taking big move.
  3. My SL got hit in the intraday volatility. Escorts has daily volatility of 2.7% approx.
  4. After 4 days of consolidation, stock resumed its upmove and now trading at my target level of 820-824.
  5. I got afraid when i have seen loss of 7K which is pretty big for a capital size of 1L and exited intraday without waiting for the close.

After this trade, i have decided that no more big bets will be taken in future until i have comfortable capital to take big bets.

My first aim now is to make 30 successful trades of 1K profit each in the next 3 months. Till that time no more bigger bets or no more F&O.

Thanks in advance.


#80

Yes bro. Please check the screenshot for pricing.