Augubhai's diary and notes

[augubhai]

i guess you just got a big move of almost 20 points.. lol.. guess you did not yet exit your long position.

Still long.... but since I already got to the scratch point, I have widened my SL. Will tighten again if market accelerates.

 

[augubhai]

NF intraday trades:

1. short 5355, exit 5351 = +4
2. short 5339, exit 5331 = +8
3. long 5335, exit 5331 = -4
4. long 5334, exit 5344 = +10

Brokerage of 2 points per trade not deducted.

 

[augubhai]

NF intraday trades:

1. short 5355, exit 5351 = +4
2. short 5339, exit 5331 = +8
3. long 5335, exit 5331 = -4
4. long 5334, exit 5344 = +10
5. short 5342,

Brokerage of 2 points per trade not deducted.

 

[augubhai]

NF intraday trades:

1. short 5355, exit 5351 = +4
2. short 5339, exit 5331 = +8
3. long 5335, exit 5331 = -4
4. long 5334, exit 5344 = +10
5. short 5342, exit 5338 = +4

Brokerage of 2 points per trade not deducted.

 

[augubhai]

No Nilu trades today. Taking a break from Nilu trades. May restart after expiry

 

[augubhai]

Attaching a visual scan of today's pin bars. Not sure how to trade these. It's because such confusion that I decided to enter and scratch first, and then ride the move. BTW, I think today's scratches were decent (in other words - the market did not scratch back)

 

[Ajit57]

NF intraday trades:

1. short 5355, exit 5351 = +4
2. short 5339, exit 5331 = +8
3. long 5335, exit 5331 = -4
4. long 5334, exit 5344 = +10
5. short 5342, exit 5338 = +4

Brokerage of 2 points per trade not deducted.

All in all I can see 22 - 10 = 12 points ... I think you need to have a better system so that you can gain more points ...

 

[augubhai]

Realized that i was being honest with everyone, except myself. So yesterday, got down to check my performance in level 1 so far.

Not good. Post-brokerage, I have lost 58.25 points in 41 trades taken in 7 days starting August 16. This includes 1 fat finger trade (buy instead of sell) that I did not realize had happened, in which I lost 20.24 points.

I did the calculation in a spreadsheet, where I allocate more costs than those in the contract notes. So the real performance may be slightly better, but I will go by the spreadsheet result for evaluating my performance.

 

[akhill]

Realized that i was being honest with everyone, except myself. So yesterday, got down to check my performance in level 1 so far.

Not good. Post-brokerage, I have lost 58.25 points in 41 trades taken in 7 days starting August 16. This includes 1 fat finger trade (buy instead of sell) that I did not realize had happened, in which I lost 20.24 points.

I did the calculation in a spreadsheet, where I allocate more costs than those in the contract notes. So the real performance may be slightly better, but I will go by the spreadsheet result for evaluating my performance.

Your stop loss is too tight for Nifty and Banknifty.

Instead, i would suggest you to have an exit point based on an indicator (either MACD or Stoch or CCI etc.), so that you dont have your eyes on the nifty points.

for ex: when MACD cuts the signal line from above below the Zero line should be exit point for a long position .. something like that..

just my 2 cents.

 

[augubhai]

Pin bars vindicated. Problem is with the trader, not the pattern.