Augubhai's diary and notes

[akhill]

I agree with akhill. Instead of generating brokerage and taxes, what else you are doing? sometimes 10-15 points moves comes in BNF in no time, so you can't place a SL of 5-6 points.

Instead of making your broker rich, do one thing. Trade in BNF with a SL of 50 points, with that your success rate will be better, and also you will be able to manage your trade better.

I hope you would think about it. Wish your success in trading :thumb:

yeah.. u r very much right . 50 points stop loss is a good one to start with.. as soon as u excel in predicting the movement for a particular period (which you get if u keep on observing candle formatins every minute in intraday) , then you can cut down stop loss to 30 , then to 15 .. and u will get precision. then u can trade a lot, but with this method, only the broker is getting rich.

 

[sumosanammain]

Find another wall to beat your heads against guys!

 

[akhill]

Find another wall to beat your heads against guys!

y sayin dat ?

 

[Rish]

BNF trades:

1. Short at 10410, exit at 10416 = -6
2. long at 10422, exit at 10421 = -1
3. short at 10415, exit at 10400 = +15
4. short at 10388, exit at 10381 = +7
5. long at 10386, exit at 10401 = +15
6. short at 10401, exit at 10398 = +3
7. long at 10402, exit at 10393 = -9
8. long at 10402, exit at 10395 = -7
9. long at 10404, exit at 10406 = +2
10. long at 10425, exit at 10410 = -15

Brokerage of 5 points per trade not deducted.

This is not the way of Trading, it will create following problem in the long run
- Personal Life will get disturbed
- Confidence level will go down
- Long run you will loose your capital

Brother, take it in the right spirit.

 

[augubhai]

Akhil, Soft and Nirahjan

Thank you all for your inputs. Love you all guys. Honest.

I totally agree that this way of trading cannot be sustained,

But...
I will probably continue this method again today. My initial SL is 20 points. Yesterday, I just happened to exit before my SL hit. It also means that most of my entries resulted in a move - big or small - in direction before reversing, else I would have taken the 20 pt loss.

I thought of avoiding some of the trades, but I took them anyways, since I wanted to see how it went. I don't believe paper trading bnf intraday will give the correct picture. So avoiding some of the trades is something that I have to work on.

The big thing that I have to do is to be more aggressive in profit booking. This is something that I plan to do today. Some of my trades were in profit, but I took only small % of it. I was hoping that the move will continue and i will get bigger profits.

Trades 2 and 3 were is 30+ profit, but I took only 15 and 7 points.
Trade 4 went long at 10386, and made a high of 10430, but I exited at 10401.

Let me try to so some better profit booking today.
I am trading just 1 lot, so the impact of these trades on my account is minimal. (I learnt this lesson after trading jsw with multiple lots). I don't worry much about brokerage as long as i make money. If i trade multiple lost or change my broker, I will save 1 or 2 points per trade, but before that I should have a successful method.

I also have other methods that i trade a a slower pace and with multiple lots.

Again, thanks for your inputs. I will keep them in mind.
(Sorry, but now you know what Sumo means)

 

[augubhai]

short in nf by range breakout.

nilu system sl hit. put not exited, trailing it for now

 

[augubhai]

nilu put exited

 

[augubhai]

BNF trades:

1. Short at 10343,

Brokerage of 5 points per trade not deducted.

 

[augubhai]

NF range breakout trades:

1. short at 5213,

 

[augubhai]

Nilu system trades:

Exited NF long at 5207, 5200 put at 85.5