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T For Trading

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  #1 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received

Hi guys,
I am starting this jurnal for some purpose to solve in my trading. I dont know..should
have i thank to the person who first introduce trading to me...or should have i beaten
him. whatever be, i fell in this jungle and now there is no quit from it.In past ,
many times i thought to start a journal of my trading but i could never decide, was it
needed..could i be consistent in maintaining that with honesty. There were coulple of
Journal Contest Events, but doing for that was a task that i never convince myself to
do. I believd , urge for journal should come from inside not outside factor and that
too will be timed by nature. I am not a person, that wakeup a morning and say, ok i
will start a journal today.I am trying to get rid of, some of my weakness and also
adding one positive,

1) I am lazy person, inconsistant in work, often leave it in middile. ( Biggest Weakness)
2) Not maintainig any trading record/journal . (Poor thing from this business side)
3) No fix trading plan each day. I trade what i see and feel. (Disastrous nightmare )
4) To have larger targets and increased number of lots. ( Dreaming )


But i am still trading and alive with profits.

Let me summarize about instrument i trade, its recent background/context and my
trading chart.

I trade only Nifty Future ( NF ) listed in National Stock Exchange (NSE) of India. Its
lot size is comprised of 50 Units and Tick Size is 0.05. NF moves genarally in ADR
limits of 60 to 90 points ( 1 Point = 20 ticks ) and my round turn brokerage comes
approx 2 points/lot. Though i try to have better execution trading rather than profit
or points gain/loss oriented but unintentionaly whole day process sums to capture 10-
15 points per day. I trade mostly 1-2 lots, occasionally 3 lots and maximum 2-3 trades
perday.Exchange trading timings are 9:15 AM to 3:30 PM, but my trading time is mostly
restricted upto maximum 1-1:30 PM , and i often start the day late after opening. Its
due to my regular Job , which is my primary income source.

Here is daily chart of Nifty Future for some month back to today.



And here are two of my chart 3-min and 15 minute. There are two MA, Gom MP ( 2 day on
3-min and 5-day on 15-min ),Ranges of bars with SMA, VWAP and Pivots. I use nothing
much out of these in direct sense but trading without anything is still far task...and have
habit of some crowd, so not removing them.







futures.io (formerly BMT) has inspired me in many way, especially @PandaWarrior , @VinceVirgil Journal,
@Fat Tails Volatility Bands , @gomi MP and most @tigertrader . I like to invite every
one to have thier valuable coments on my mistakes. I choose today to start the
journal, as its good looser day after some profitable days. For some days i will post
annotation/coments on chart along with points gain/loss manily to have better idea of
"Why" and "when" of trades, that will reduce after some days.

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  #3 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received


Will update later ( perhaps in eve ) ...still waiting to complete this short...


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  #4 (permalink)
India
 
 
Posts: 18 since May 2010
Thanks: 39 given, 8 received

Looking forward for it as always..

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  #5 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received

As usual i start the day late, not a problem for me. I remember those day not far back when i didnt wanted to miss even first opening tick.
After last day's big rally my obvious expectations from this day was some sort of rotation if not for full gyrating type but at-least for half day. Two volume spike seen at day start on 15-min chart were around 5017 and 4975 and they seems good as extremities of such possible rotation. For unknown reason i was biased for 4975...NF might test before going up. But Short there were with poor risk measured from VWAP in comparison to 4975. If it was not luring for Short then i decided to Long to test VWAP. That paid. Just some days back i learned how to prematurely exit 2nd lot on seeing un-favorable situation.
NF was moving in very cultured way, Bar ranges were in perfect size for my trading. Such a situation infuse little (over) confidence about every swing. When struggle at VWAP finally over with two down bar, i was again invoked with original unfilled biased target of 4975. Short was the call of situation..but i took single and went for bath. It changed its direction, weakness in downswing was evident with potential 2B Bottom. But being in comfort zone i switched to 15 minute and decided not to quit early on 3 min. Supply-2 formed and this was the time i finally moved my stop from Zone-A to Supply-2 high. If it had to go down from here it wont go up now immediately, if it go otherwise then trade over - simple. No worry about its outcome. And next big bar took it out.

Nett gain of day 9+6-3 = 15 Points after commissions.


Now when i review after all, i can attach many reason and negatives about second trade and its poor failure even after having MFE of 20 points ( though i was absent at that time ). When i came back it was little shocky psychologically that it still not covered 4975 and changed direction. Perhaps if it would have gone there then after coming back and seeing it had tested that lvl i might surely have gotten out just on 2B bottom.






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  #6 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received

tomorrow is friday.



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  #7 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received


Harvest The Moon
Nest The Market
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  #8 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received

Add was creating some pressure...took it out.


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  #9 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received

Im done guys for the day...if i would wait for more...i would not like to still call biased for 4975....

Will update in eve about "why" and "how" of these trades. Getting late for bath.



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  #10 (permalink)
Al,India
 
Experience: Advanced
Platform: NinjaTrader
Broker: RKG
Trading: NiftyFuture
 
devdas's Avatar
 
Posts: 1,561 since Feb 2010
Thanks: 1,499 given, 1,695 received


Its done from my side....
Stat go for both side....Its simple, if it need to make new high come above vwap and if new low remain below that.
If it make new high week turns out to be (4,1) pair...my guess.


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