Trading Challenge II : 300% in 5 months

[SwagatN]

Thanx for explaining the method. So how do u decide longs or shorts? Where do u plan to keep the SL would it be fixed or according to charts?

The entry plan was already shared in earlier posts I guess. I plan to enter LONG on my trading timeframe true UT, when there is a true UT in parent timeframe. Vice versa for SHORT. When parent TF shows no clear trend or range, I tend to look for failure and rejection trades near parent TF TSPs.

Sl is based on chart where there is a swing point. Yes like during my last challenge I will post my trades marked on charts here.

 

[MSN1979]

The entry plan was already shared in earlier posts I guess. I plan to enter LONG on my trading timeframe true UT, when there is a true UT in parent timeframe. Vice versa for SHORT. When parent TF shows no clear trend or range, I tend to look for failure and rejection trades near parent TF TSPs.

Sl is based on chart where there is a swing point. Yes like during my last challenge I will post my trades marked on charts here.

Thanx for explaining it nicely. I would love to see your Live Trades. Good Luck and All the very best

 

[RDutt]

Good Luck and All the Best for
daring new venture, because it needs guts to come back after accepting failure -
as well said by Churchill -Success is walking from failure to failure with no loss of enthusiasm.

 

[SwagatN]

Backtesting is going on, I am running behind my planned schedule. Live trading will start from Thursday (16th Aug). For monday and tuesday I will paper trade live on TATASTEEL and RELIANCE equity with time to time recording of market structure that I intend to do in live for not to loose focus and tackle boredom. These two days will give me hints how I am going to tackle the issue in real time.

 

[nurav]

Swagat sir all the best. I myself am a newbie so instead of suggestions i am giving you the charts for Tatasteel and Reliance. Just be watchfull around these levels for the whole of August. These are very potent levels and the prices would/should react around these levels.
http://prntscr.com/khpela Reliance.
http://prntscr.com/khpf17 Tatasteel.

If you can dream it surely you can do it.

 

[Rishi_1]

Happy to see you came with great attitude. Good luck SwagatN

 

[SwagatN]

Will be tracking only TATASTEEL today for live testing purpose.

TATASTEEL Market Structure analysis 9:15 AM
===============================
5m chart shows no clear real trend. 573-574 is a potential support zone, and buying was seen there on Friday's closing hour. AN equivalent selling is making the sentiment neutral. Nearest TSP are at 584 and 573. These are the potential trade zone for now. Will be looking for trading on both side.

1m chart shows a real range from 580 to 573. 1m trend sentiment is appearing bearish, so will be expecting price to test the range low at 573.

 

[SwagatN]

TATASTEEL Market Structure analysis 9:30AM
==============================
5m chart - 5m price trend turns in to a real downtrend as price breaks below the support at 573. But not much selling interests are coming. Seems like buying is coming in..

1m chart - 1m price breaks below the real sideways range and is consolidating, Sentiment remains bearish.

Since 5m is in a true downtrend, my primary trading bias will be on SHORT. But since bears lack conviction, I will better wait for some correction. yet to see if bulls shows strong buying hand and in that case I might look for counter trend reversal LONG. But that is yet to be seen.

 

[MSN1979]

Swagat sir all the best. I myself am a newbie so instead of suggestions i am giving you the charts for Tatasteel and Reliance. Just be watchfull around these levels for the whole of August. These are very potent levels and the prices would/should react around these levels.
http://prntscr.com/khpela Reliance.
http://prntscr.com/khpf17 Tatasteel.

If you can dream it surely you can do it.

that is a very bad way to chart

 

[SwagatN]

TATASTEEL Market Structure analysis 10:30AM
=================================

5M = A complex correction is on the card in a real downtrend. Strong buying was seen at day low near 566. But the correction seems to be facing strong resistance near the previous support of 573/574.

1M = A real trading range from 572 - 566. A potential breakout failure.. Opportunity for SHORT trade. Sentiment is bearish near 572-574.