iCharts Discussions

[smartcancerian]

Nifty hourly chart..hope my markings are correct..

[smartcancerian]

Long to be initiated above 6312..bullish rejection of 15tf..(but is demanding a large SL)..will have to decide the risk..& enter..

[smartcancerian]

Trying low risk entry of 5tf bullish rejection..long will be @ 6297..

[smartcancerian]

[smartcancerian]

Triggered..SL is 6265..

[smartcancerian]

Exiting the position in futures @ 6315 at 3.28 pm..Event on monday, don't want to take undue risk...
Net pts (trade:1) = -19 ; cumulative = -19
Net pts (trade:2) = -22 ; cumulative = -41
Net pts (trade:3) = 46 ; cumulative = 5
Net pts (trade:4) = 3 ; cumulative = 8
Net pts (trade:5) = -12 ; cumulative = -4
Net pts (trade:6) = -29 ; cumulative = -33
Net pts (trade:7) = 7 ; cumulative = -26
Net pts (trade:8 ) = 24 ; cumulative = -2

[smartcancerian]

Buy trade @ 6377..SL 6342..valid if triggers till 3.05 pm

[smartcancerian]

Buy triggered @ 6378 (slippage)..trade didnt move in favour till 3.28pm..hence exiting @ 6368
Net pts (trade:1) = -19 ; cumulative = -19
Net pts (trade:2) = -22 ; cumulative = -41
Net pts (trade:3) = 46 ; cumulative = 5
Net pts (trade:4) = 3 ; cumulative = 8
Net pts (trade:5) = -12 ; cumulative = -4
Net pts (trade:6) = -29 ; cumulative = -33
Net pts (trade:7) = 7 ; cumulative = -26
Net pts (trade:8 ) = 24 ; cumulative = -2
Net pts (trade:9 ) = -10 ; cumulative = -12

[manojkr78]

hi smart,

trading very tough this month so far.......

[amitagg]

gaps ups and down thralling the more profitable trades....also MIND entering picture...since for eg: system entered long at 6297 but was squared at 6312 before the next days's gap up....."even though that day's pattern was good".....

so the system for me i can see this is very good..........and even with emotions entering it will give a "big proftiable trade"...that is what the system is about...

[smartcancerian]

[amitagg]

good but dont compare yourself with others...Sha and others......

few points -

i) as a trader, i understand that most would have lost money trading in initial years, and hence "gaining the perspective of keeping losses small" is very good and next transition scale for a trader....

ii) many dont post their losing trades or who they trade....what is posted are levels and, believe me "having direction right and having right call" is NOT the "same think as being in profits"......even if u see my thread, i often and most often in fact have right directional calls [and even right timing... with many mistakes also where just as you do, i have starting taking closer stops]

iii) on RR, i posted in Nakum's thread.....for me 1:1 is working well...even yesterday on my DLF trade where volumes were heavy, it worked and had i wanted 1.5:1 or more, it would have been wrong..... [again it depends on each trader ....this is also one area of improvement in sense that 1.5 is ideal but currently since i am not a professional.....i have not learnt or mastered 1.5:1 trading for day trades.....

nice you post your trades and method....really very nice

[one more thing....i thing Sha(???) often has "countertrend trades" and for me, these cannot be profitable for longer term.....just a wild guess since i am a simple trader having learnt in markets and started believing markets can pay us [just simple things to be done] rather than us paying markets......

i would also share one thought - i have learnt where market turns, not to lose there [so i dint lose when market fell from 6200 to 6000, i didnt lose when market broke 6250 to 6400+ and i didnt lose when market have fallen 100+ points from top,,,,then your leveraged trades can give you grear profits if you are not stuck in a bad trade....

if you see yourself, you are doing just that....and pls continue with that.....

best of luck

[smartcancerian]

USP is 60-70 points away( @ 6267), high made is around 150 pts away from current market price..we are into a bigger range, time for consolidation..the market has tendency to grind traders like us in such ranges..Contra move has started & confirmed as per my knowledge in lower tf (SSPS still in bullish mode)- it may be a trend for smaller timeframe but it may actually be pull back of hourly tf, lets see who dominates at last..keeping myself on sidelines...

[smartcancerian]

Buy triggered @ 6306..SL @ 6279..

[smartcancerian]

SL hit...@ 6276 (slippage.. )

Net pts (trade:1) = -19 ; cumulative = -19
Net pts (trade:2) = -22 ; cumulative = -41
Net pts (trade:3) = 46 ; cumulative = 5
Net pts (trade:4) = 3 ; cumulative = 8
Net pts (trade:5) = -12 ; cumulative = -4
Net pts (trade:6) = -29 ; cumulative = -33
Net pts (trade:7) = 7 ; cumulative = -26
Net pts (trade:8 ) = 24 ; cumulative = -2
Net pts (trade:9 ) = -10 ; cumulative = -12
Net pts (trade:10 ) = -30 ; cumulative = -42
Difficult month indeed..