Weekly Trading Dairy: 16th April 2018 to 20th April 2018

[Visualreactor]

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.

[sandrocottos]

17th Apr couldn’t book full profit potential of 12k atleast in MT because of internet failure so had to exit early through app.Sad day😑

[dolphy_crasta]

Another day with Rs3300 profit…,

[karthikkannan]

I’m down 2000 bucks as of now. Any trades that can get me back in the game for today?

[muthu1984]

What is your capital bro?

[lpbooster]

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…

[karthikkannan]

My capital is around Rs. 50K

[muthu1984]

My suggestion is stop trading for today and strat by tomorrow, since you have lost 4% of your captial today…

[karthikkannan]

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.

[karthikkannan]

That’s true. I should stop trading for today.

[TradeOps]

10% return on capital(Small account).Good day for me

[AmJay]

Well will be in a loss after brokerage.

[dolphy_crasta]

profit of around Rs 5500 and holding one lot of nifty 10700 pe with strict sl of 140 …

[astuter]

Last moment trade.

[Visualreactor]

Net profitable today! Looking forward to maintaining net profitability.

How do you setup S&R in Kite for intraday? The pivot study shows weird S&R ranges especially after gap up or gap down opening. Sometimes the stock trades completely outside the S&R ranges.

[astuter]

Try to limit your trades for better results.

[manny_the_mammoth]

I created a strategy in options which is working almost perfectly (It’s my assumption, i am working on it from last year) on papers and charting software, payoff chart doesn’t even move in negative zone, no matter what the direction is.
do you think that charts are actually genuine (I have tried upstox, Quantsapp and traderslounge, they all are giving positive chart but with minute differences) ? because anything which is too good to see comes with a twist so i’m doubtful about it
If they are actually working, can someone tell me any screener where i can enter the criterion and it can filter all the stocks with maximum profit potential

what does this sigma represent here?
Is this variance?

[dolphy_crasta]

forget about paper trading…enter real market with small qty

[manny_the_mammoth]

it takes huge amount
Can’t risk such amount

[goku]

Intraday trading alert: 18 April 2018

Total profit : 0.2 R = 20 RS. (0.08 % )