Trading derivatives can result in drawdowns of capital. The trades shown using the charts are not to be taken by the readers. Views and analysis are personal. I am not a research analyst registered under the SEBI regulation 2014 and not authorized to give any financial advice. Information contained in this blog should not be used, relied upon or treated as a substitute for specific or professional advice. Charts posted here are strictly for educational purpose.
Thursday, 3 July 2014
03072014
Nifty opened above PDH and formed the IR, went short on BOF of PDH, entered below PDC at 7747, trade did not move well, exit around 7745.Profit of +2 points.
No other trades.
Excellent patience shown by you to stay away from the choppy and volatile movements !! I got caught today not because I could not see it but because of my greed to enter and anticipate breakout :(
I was swing trading since 2008 with some profits, but i was not comfortable with overnight positions.Started intraday trading, made small profits and big losses with different methods.In Nov 2013 i came across ST's E-Book, read it many times and found that the method suits me.Then read all the posts of Nifty Nirvana blog and all the comments and all the important posts to better understand the concepts. Then backtested the method on 8-10 months data and live tested about 3 months for screen experience.Then started real trading from last week of June 2014. The most important thing which i can tell you is 1) choose a method which suits you and backtest it, if you are satisfied with backtest results then believe in the method and trade it with small quantity to achieve execution consistency. 2) there may be four outcomes of a trade, small profit, small loss, big loss, big profit you have to avoid only big losses, small profits will take care of small losses and big profits will be with you.
Hi VKM, I started swing trading last year around May. I came across ST method in Aug/Sep. I liked his method and tried his method for a week and was unsuccessful mainly because I did not have screen experience and I was taking his trade literally without thinking about range, order flow, trend etc. Moreover, ST method requires day trading which was tough with the day job. I continued Swing trading but lately for last 3-4 months , market starting giving false breakouts quite frequently even in higher timeframes. So, finally, I have switched back to ST method in last week. Now I am having screen experience and so am much better. I am already profitable but still a way to go. But I am quite confident that this is the right method for me. Moreover, I am getting good guidance from ST, you and UR Dave. Everyday I can check my problems and correct my trading behaviour. I hope to improve over time with such great support !
Hi,
ReplyDeleteYour trades are impressive, How did you learnt ST method? how long it took? Could you please explain if you willing to help me Thanks. Arun.
Excellent patience shown by you to stay away from the choppy and volatile movements !! I got caught today not because I could not see it but because of my greed to enter and anticipate breakout :(
ReplyDeleteVikram
DeleteYes, trying to stay calm and patient while trading.It takes time to develop these habits.
VKM
Arun
ReplyDeleteI was swing trading since 2008 with some profits, but i was not comfortable with overnight positions.Started intraday trading, made small profits and big losses with different methods.In Nov 2013 i came across ST's E-Book, read it many times and found that the method suits me.Then read all the posts of Nifty Nirvana blog and all the comments and all the important posts to better understand the concepts.
Then backtested the method on 8-10 months data and live tested about 3 months for screen experience.Then started real trading from last week of June 2014.
The most important thing which i can tell you is
1) choose a method which suits you and backtest it, if you are satisfied with backtest results then believe in the method and trade it with small quantity to achieve execution consistency.
2) there may be four outcomes of a trade, small profit, small loss, big loss, big profit
you have to avoid only big losses, small profits will take care of small losses and big profits will be with you.
VKM
Hi VKM,
DeleteI started swing trading last year around May. I came across ST method in Aug/Sep. I liked his method and tried his method for a week and was unsuccessful mainly because I did not have screen experience and I was taking his trade literally without thinking about range, order flow, trend etc. Moreover, ST method requires day trading which was tough with the day job. I continued Swing trading but lately for last 3-4 months , market starting giving false breakouts quite frequently even in higher timeframes. So, finally, I have switched back to ST method in last week. Now I am having screen experience and so am much better. I am already profitable but still a way to go. But I am quite confident that this is the right method for me. Moreover, I am getting good guidance from ST, you and UR Dave. Everyday I can check my problems and correct my trading behaviour. I hope to improve over time with such great support !
Hi VKM,
ReplyDeleteFrom where you get the feed for amibroker? Global data feeds?
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Mathew
Mathew
DeleteI feed data from my trading terminal with the help of a utility created by a Traderji forum member Josh1.
VVKM