20th Aug 2024 - Tuesday

Was a good trading day overall.

Just one thing to notice is that always trade in direction of 8 MA and do not take trades against.

Rest all good. The method of bar by bar trailing works well.

Made money.

19th Aug 2024 - Monday

 Has been quite some time since my last post.

I am trying out the same approach, 20 and 200 SMA - but now have added the pointer to it which is 8 SMA.

Also, have decided to trail stop loss in every trade candle by candle.

Today, it worked well for two trades. Rest failed. 

Reason was only one - I wasn't waiting for colour change as i had the trailing mechanism to reduce losses, i was taking trades based on direction. And that didn't work. Thought the 2 -3 trades which succeeded, took care of all losses.

So important lesson - wait for colour change.

On Long side - take trade only when white breaks high of black candle and SMAs are below. And;

On Short side - take trade only when black breaks low of white candle and SMAs are above.

Was lucky to end on break even. But good learning.

Made Money

9th July 2024 - Tuesday

Nifty made an inside candle on daily time frame.

Last three hours, market has shown slow movement upwards.

Will have to wait and let price action form - I have no bias.

----------------------------------------------------------------------------------------------

Trading day -

Made Money

8th July 2024 - Monday

Market jumped up at 3 pm on 5th July. Heavy buying in Reliance, SBI, ICICI Bank and HDFC Bank. Also IT was supportive.

Monday also looks strong and i will like to find long opportunities.

--------------------------------------------------------------------------------------------------

Trading Day -

Tried on Dhan today - same rules. Lost very little money.

Took some time to try out things - not as intuitive as Zerodha - though better for scalping.

Lost Money

5th July 2024 - Friday

Market remains bullish - though formed a black cancel on daily chart but still closed above daily pivot - also above 200 MA.

In morning, look to trades on upside and then wait for price action to make calls.

---------------------------------------------------------------------------------------------------

Trading day -

Today made money, was a good day.

Trade 1 - Hit the SL. I bought a Put in anticipation that it will break the S2 level. S2/R2 has come across as a very very strong.

So next time, close to S2/R2 - take trade only once it crosses and sustains below or above.

Remaining two we successful trades.

Made Money.

4th July 2024 - Thursday

Whole day of consolidation on 3rd July. The CPR was also narrow but the market didnt move. There is a possibility of it moving in some direction tomorrow.

The market still looks bullish, so initial bias will be to look for long trades.

Rest depends on price action.

I have left trading options, I am trading the charts - Nifty future charts.

1:1 - move stop loss to breakeven and 1:2 - take profit.

--------------------------------------------------------------------------------------------------------

Trading day -

It was a good trading day. The profit taking strategy worked.

The only thing which needs changing is to continuously moving SLs. 

SLs should be moved once - when we are 1:1 on Risk Reward - thats why SL moves to breakeven and thats it.

Otherwise, took 3 trades - 2 successful and 1 hit SL.

First time in 3 weeks that i am in Green on Expiry.

Made Money

3rd July 2024 - Wednesday

Arjun's birthday.

The market continues to look positive to neutral. Will have to wait for price action to form before doing anything.

Price closed below opening price for 1st July.

-------------------------------------------------------------------------------------------

Trading Day -

Was an ok day of trading, quite a few trades. Made some money. But this 10 per trade will not work. I will revert to profit taking mechanism of 1:2. it works better.

Made Money