used my same old strategy it is working fine for me
How much Capital deployed??
Intraday trade alert: 17 April, 2018
Total profit : around 0.3 R = 30 rs ( without brokerage+ charge) (0.1%)
I didn’t trade because of fucking Zerodha.
General Notes―
- Pivot point worked, but when there is a large gap up/down the pivots look wonky. Find out about this.
- A long shadowed shooting star or bullish hammer/hanging man doesn’t seem to work.
- Made a risky second trade on NTPC, since the short was not working out. First resistance crossed so bet on price reaching near second resistance.
- Trading aggressively again (around 10:40 AM). Take a break.
- IBVENTURES bullish hammer like pattern with a noticeable high shadow turned out to be genuine. Missed about 5 points.
- Hangman on NTCP but not confident to make the trade.
- One more net loss day but learning a lot. Have much to learn about setting up solid trades. Need to also improve on patterns and indicators.
Things to work on―
- Setup trades more confidently and don’t pull the trigger unless pattern and volume confirm.
- Figure out if the pivot study gives reliable support and resistance especially after a gap up or gap down.
- Stop trying to catch up with sharp trends. It’s usually too late.
- Aim for trades that give better RRR
So I’m actually mantaining a trading journal using wordpress as I trade and these are some of the notes from there. Sorry they are incoherent.
What is your capital bro?
Bank Nifty is range bound today… eating away premium on both the call side and put side… thankfully I got out at the right time from 25400pe…I sold that at 186.55 and today’s high is 187…booked little profit.sharp reversal in 25400pe after that…now trading at around 145…
My capital is around Rs. 50K
My suggestion is stop trading for today and strat by tomorrow, since you have lost 4% of your captial today…
Yeah, its been a very choppy day on the indices today. I’m mostly an indices trader and I’ve been chopped out today. However, I am a bit biased on the short side when looking at the next two-three days as I feel Nifty should consolidate from this rally a bit. The Nifty has been saved today mostly by ITC’s up move or otherwise the Nifty would’ve been in the red.
That’s true. I should stop trading for today.