HAPPY's Trading Dairy
- Thread starter Happy_Singh
- Start date
- Status
Nice trade winner :thumb:
There was head room space on BNF charts hence did not book initially,
but BNF also turned with NF (Yesterday's high worked as strong resistance on NF)
fortunately we did get many opportunities to book at BE or small profit due to sideways PA . . .
With swing trades we have to carry at least small portion of the position that we want to build,
and many times we end up giving back gains of 100+ points . . .
but without this holding we will never be able to catch the trend that works over 2-3 days . . .
and for a swing system, that is where the real gains come from . . .
Happy
There was head room space on BNF charts hence did not book initially,
but BNF also turned with NF (Yesterday's high worked as strong resistance on NF)
fortunately we did get many opportunities to book at BE or small profit due to sideways PA . . .
With swing trades we have to carry at least small portion of the position that we want to build,
and many times we end up giving back gains of 100+ points . . .
but without this holding we will never be able to catch the trend that works over 2-3 days . . .
and for a swing system, that is where the real gains come from . . .
Happy
Nice trade winner :thumb:
There was head room space on BNF charts hence did not book initially,
but BNF also turned with NF (Yesterday's high worked as strong resistance on NF)
fortunately we did get many opportunities to book at BE or small profit due to sideways PA . . .
With swing trades we have to carry at least small portion of the position that we want to build,
and many times we end up giving back gains of 100+ points . . .
but without this holding we will never be able to catch the trend that works over 2-3 days . . .
and for a swing system, that is where the real gains come from . . .
Happy
There was head room space on BNF charts hence did not book initially,
but BNF also turned with NF (Yesterday's high worked as strong resistance on NF)
fortunately we did get many opportunities to book at BE or small profit due to sideways PA . . .
With swing trades we have to carry at least small portion of the position that we want to build,
and many times we end up giving back gains of 100+ points . . .
but without this holding we will never be able to catch the trend that works over 2-3 days . . .
and for a swing system, that is where the real gains come from . . .
Happy
Hello
Many attempts must have been made at trading with a fixed income mindset . . .
where in someone wants to make something like a salary every month . . .
While keeping the uncertain nature of trading business in mind,
one cannot//should not have a fixed targets for either income or
a definite limit to loss/maximum draw-down that can happen . . .
When having a similar conversation with a friend . . .
his point of view was if i cannot project even a band of probable
income/loss then it cannot be considered as a business . . . . .
I had to give in, on this point and that set me thinking . . .
If i am trading using a system / method of swing time frame
and also taking a few intraday trades in between . . . then . . .
Q1: what is the minimum amount i should target to make in a month
Ans: lets assume 300 BNF points . . . per lot traded
Q2: From a Peak, what is the maximum period of draw-down that i will encounter
Ans: should not be more than 2 months
So if i have to define it, maybe i should do it for a quarter and not monthly basis . . .
Anyway, if i take it up as a challenge, how will it affect my trading . . .
i think it should be worth giving it a try . . .
Will start counting from Friday 26th July, trading BNF August expiry . . .
Will be using simple trend following on 30 mins, will use SAR, unless
the situation is totally confusing to me, in that case will stay out . . .
Will use intraday trades only when i can see a clear trend in place.
Ideally, this should not change anything in the way i trade,
but i suspect, it will have an impact in partial profit booking, etc
Let's See how it goes . . .
Happy
EDIT:
Got inputs from some one . . . not to make both things fixed i.e points and period . . .
The advice is if we want to count fixed, 300 points, then not to worry about how many sessions it takes . . .
Once we close the trades that puts our equity up by 300 points, re-start from scratch
without worrying about no of days it takes to get them, me thinks its better to follow this way . . .
Many attempts must have been made at trading with a fixed income mindset . . .
where in someone wants to make something like a salary every month . . .
While keeping the uncertain nature of trading business in mind,
one cannot//should not have a fixed targets for either income or
a definite limit to loss/maximum draw-down that can happen . . .
When having a similar conversation with a friend . . .
his point of view was if i cannot project even a band of probable
income/loss then it cannot be considered as a business . . . . .
I had to give in, on this point and that set me thinking . . .
If i am trading using a system / method of swing time frame
and also taking a few intraday trades in between . . . then . . .
Q1: what is the minimum amount i should target to make in a month
Ans: lets assume 300 BNF points . . . per lot traded
Q2: From a Peak, what is the maximum period of draw-down that i will encounter
Ans: should not be more than 2 months
So if i have to define it, maybe i should do it for a quarter and not monthly basis . . .
Anyway, if i take it up as a challenge, how will it affect my trading . . .
i think it should be worth giving it a try . . .
Will start counting from Friday 26th July, trading BNF August expiry . . .
Will be using simple trend following on 30 mins, will use SAR, unless
the situation is totally confusing to me, in that case will stay out . . .
Will use intraday trades only when i can see a clear trend in place.
Ideally, this should not change anything in the way i trade,
but i suspect, it will have an impact in partial profit booking, etc
Let's See how it goes . . .
HappyEDIT:
Got inputs from some one . . . not to make both things fixed i.e points and period . . .
The advice is if we want to count fixed, 300 points, then not to worry about how many sessions it takes . . .
Once we close the trades that puts our equity up by 300 points, re-start from scratch
without worrying about no of days it takes to get them, me thinks its better to follow this way . . .
Last edited:
Hi Happy,
Please check Nifty difference of High/Low since july 2006
Month High Low H-L
Jul ' 2006 3208.85 2878.25 330.6 >500 35
Aug ' 2006 3452.3 3113.6 338.7 400><500 15
Sep ' 2006 3603.7 3328.45 275.25 300><400 18
Oct ' 2006 3782.85 3508.65 274.2 200><300 14
Nov ' 2006 3976.8 3737 239.8 100><200 2
Dec ' 2006 4046.85 3657.65 389.2 0><100 1
Jan ' 2007 4167.15 3833.6 333.55
Feb ' 2007 4245.3 3674.85 570.45
Mar ' 2007 3901.75 3554.5 347.25
Apr ' 2007 4217.9 3617 600.9
May ' 2007 4306.75 3981.15 325.6
Jun ' 2007 4362.95 4100.8 262.15
Jul ' 2007 4647.95 4304 343.95
Aug ' 2007 4532.9 4002.2 530.7
Sep ' 2007 5055.8 4445.55 610.25
Oct ' 2007 5976 5000.95 975.05
Nov ' 2007 6011.95 5394.35 617.6
Dec ' 2007 6185.4 5676.7 508.7
Jan ' 2008 6357.1 4448.5 1908.6
Feb ' 2008 5545.2 4803.6 741.6
Mar ' 2008 5222.8 4468.55 754.25
Apr ' 2008 5230.75 4628.75 602
May ' 2008 5298.85 4801.9 496.95
Jun ' 2008 4908.8 4021.7 887.1
Jul ' 2008 4539.45 3790.2 749.25
Aug ' 2008 4649.85 4201.85 448
Sep ' 2008 4558 3715.05 842.95
Oct ' 2008 4000.5 2252.75 1747.75
Nov ' 2008 3240.55 2502.9 737.65
Dec ' 2008 3110.45 2570.7 539.75
Jan ' 2009 3147.2 2661.65 485.55
Feb ' 2009 2969.75 2677.55 292.2
Mar ' 2009 3123.35 2539.45 583.9
Apr ' 2009 3517.25 2965.7 551.55
May ' 2009 4509.4 3478.7 1030.7
Jun ' 2009 4693.2 4143.25 549.95
Jul ' 2009 4669.75 3918.75 751
Aug ' 2009 4743.75 4353.45 390.3
Sep ' 2009 5087.6 4576.6 511
Oct ' 2009 5181.95 4687.5 494.45
Nov ' 2009 5138 4538.5 599.5
Dec ' 2009 5221.85 4943.95 277.9
Jan ' 2010 5310.85 4766 544.85
Feb ' 2010 4992 4675.4 316.6
Mar ' 2010 5329.55 4935.35 394.2
Apr ' 2010 5399.65 5160.9 238.75
May ' 2010 5278.7 4786.45 492.25
Jun ' 2010 5366.75 4961.05 405.7
Jul ' 2010 5477.5 5225.6 251.9
Aug ' 2010 5549.8 5348.9 200.9
Sep ' 2010 6073.5 5403.05 670.45
Oct ' 2010 6284.1 5937.1 347
Nov ' 2010 6338.5 5690.35 648.15
Dec ' 2010 6147.3 5721.15 426.15
Jan ' 2011 6181.05 5416.65 764.4
Feb ' 2011 5599.25 5177.7 421.55
Mar ' 2011 5413.3 5348.2 65.1
Apr ' 2011 5944.45 5693.25 251.2
May ' 2011 5775.25 5328.7 446.55
Jun ' 2011 5657.9 5195.9 462
Jul ' 2011 5740.4 5453.95 286.45
Aug ' 2011 5551.9 4720 831.9
Sep ' 2011 5169.25 4758.85 410.4
Oct ' 2011 5399.7 4728.3 671.4
Nov ' 2011 5326.45 4639.1 687.35
Dec ' 2011 5099.25 4531.15 568.1
Jan ' 2012 5217 4588.05 628.95
Feb ' 2012 5629.95 5159 470.95
Mar ' 2012 5499.4 5135.95 363.45
Apr ' 2012 5378.75 5154.3 224.45
May ' 2012 5279.6 4788.95 490.65
Jun ' 2012 5286.25 4770.35 515.9
Jul ' 2012 5348.55 5032.4 316.15
Aug ' 2012 5448.6 5164.65 283.95
Sep ' 2012 5735.15 5215.7 519.45
Oct ' 2012 5815.35 5583.05 232.3
Nov ' 2012 5885.25 5548.35 336.9
Dec ' 2012 5965.15 5823.15 142
Jan ' 2013 6111.8 5935.2 176.6
Feb ' 2013 6052.95 5671.9 381.05
Mar ' 2013 5971.2 5604.85 366.35
Apr ' 2013 5962.3 5477.2 485.1
May ' 2013 6229.45 5910.95 318.5
Jun ' 2013 6011 5566.25 444.75
Jul ' 2013 6066.85 5760.4 306.45
Please check Nifty difference of High/Low since july 2006
Month High Low H-L
Jul ' 2006 3208.85 2878.25 330.6 >500 35
Aug ' 2006 3452.3 3113.6 338.7 400><500 15
Sep ' 2006 3603.7 3328.45 275.25 300><400 18
Oct ' 2006 3782.85 3508.65 274.2 200><300 14
Nov ' 2006 3976.8 3737 239.8 100><200 2
Dec ' 2006 4046.85 3657.65 389.2 0><100 1
Jan ' 2007 4167.15 3833.6 333.55
Feb ' 2007 4245.3 3674.85 570.45
Mar ' 2007 3901.75 3554.5 347.25
Apr ' 2007 4217.9 3617 600.9
May ' 2007 4306.75 3981.15 325.6
Jun ' 2007 4362.95 4100.8 262.15
Jul ' 2007 4647.95 4304 343.95
Aug ' 2007 4532.9 4002.2 530.7
Sep ' 2007 5055.8 4445.55 610.25
Oct ' 2007 5976 5000.95 975.05
Nov ' 2007 6011.95 5394.35 617.6
Dec ' 2007 6185.4 5676.7 508.7
Jan ' 2008 6357.1 4448.5 1908.6
Feb ' 2008 5545.2 4803.6 741.6
Mar ' 2008 5222.8 4468.55 754.25
Apr ' 2008 5230.75 4628.75 602
May ' 2008 5298.85 4801.9 496.95
Jun ' 2008 4908.8 4021.7 887.1
Jul ' 2008 4539.45 3790.2 749.25
Aug ' 2008 4649.85 4201.85 448
Sep ' 2008 4558 3715.05 842.95
Oct ' 2008 4000.5 2252.75 1747.75
Nov ' 2008 3240.55 2502.9 737.65
Dec ' 2008 3110.45 2570.7 539.75
Jan ' 2009 3147.2 2661.65 485.55
Feb ' 2009 2969.75 2677.55 292.2
Mar ' 2009 3123.35 2539.45 583.9
Apr ' 2009 3517.25 2965.7 551.55
May ' 2009 4509.4 3478.7 1030.7
Jun ' 2009 4693.2 4143.25 549.95
Jul ' 2009 4669.75 3918.75 751
Aug ' 2009 4743.75 4353.45 390.3
Sep ' 2009 5087.6 4576.6 511
Oct ' 2009 5181.95 4687.5 494.45
Nov ' 2009 5138 4538.5 599.5
Dec ' 2009 5221.85 4943.95 277.9
Jan ' 2010 5310.85 4766 544.85
Feb ' 2010 4992 4675.4 316.6
Mar ' 2010 5329.55 4935.35 394.2
Apr ' 2010 5399.65 5160.9 238.75
May ' 2010 5278.7 4786.45 492.25
Jun ' 2010 5366.75 4961.05 405.7
Jul ' 2010 5477.5 5225.6 251.9
Aug ' 2010 5549.8 5348.9 200.9
Sep ' 2010 6073.5 5403.05 670.45
Oct ' 2010 6284.1 5937.1 347
Nov ' 2010 6338.5 5690.35 648.15
Dec ' 2010 6147.3 5721.15 426.15
Jan ' 2011 6181.05 5416.65 764.4
Feb ' 2011 5599.25 5177.7 421.55
Mar ' 2011 5413.3 5348.2 65.1
Apr ' 2011 5944.45 5693.25 251.2
May ' 2011 5775.25 5328.7 446.55
Jun ' 2011 5657.9 5195.9 462
Jul ' 2011 5740.4 5453.95 286.45
Aug ' 2011 5551.9 4720 831.9
Sep ' 2011 5169.25 4758.85 410.4
Oct ' 2011 5399.7 4728.3 671.4
Nov ' 2011 5326.45 4639.1 687.35
Dec ' 2011 5099.25 4531.15 568.1
Jan ' 2012 5217 4588.05 628.95
Feb ' 2012 5629.95 5159 470.95
Mar ' 2012 5499.4 5135.95 363.45
Apr ' 2012 5378.75 5154.3 224.45
May ' 2012 5279.6 4788.95 490.65
Jun ' 2012 5286.25 4770.35 515.9
Jul ' 2012 5348.55 5032.4 316.15
Aug ' 2012 5448.6 5164.65 283.95
Sep ' 2012 5735.15 5215.7 519.45
Oct ' 2012 5815.35 5583.05 232.3
Nov ' 2012 5885.25 5548.35 336.9
Dec ' 2012 5965.15 5823.15 142
Jan ' 2013 6111.8 5935.2 176.6
Feb ' 2013 6052.95 5671.9 381.05
Mar ' 2013 5971.2 5604.85 366.35
Apr ' 2013 5962.3 5477.2 485.1
May ' 2013 6229.45 5910.95 318.5
Jun ' 2013 6011 5566.25 444.75
Jul ' 2013 6066.85 5760.4 306.45
Happy,
I have set a target like you.
I think setting yearly target is best for this trading business rather monthly target. Because sometimes a range bound condition last more than 1 month.
And very few indicators work in this situations.
I have set a reasonable target for Nifty Trading. It is 2000pt/ year. Lets see, started nifty trading this month. Seems it is achievable, but still long way to go.
Best Wishes to you also.
I have set a target like you.
I think setting yearly target is best for this trading business rather monthly target. Because sometimes a range bound condition last more than 1 month.
And very few indicators work in this situations.
I have set a reasonable target for Nifty Trading. It is 2000pt/ year. Lets see, started nifty trading this month. Seems it is achievable, but still long way to go.
Best Wishes to you also.
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