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