16-08-18 BankNifty (44)

• First trade could have been avoided.

16-08-18 Nifty (13)

Pre Market Analysis

• Took 2 trades with minor profits.

14-08-18 Nifty

Pre Market Analysis

13-08-18 Bank Nifty (60)

• Took 2 trades with profits
• First trade took with the confidence of gap down.
• Second trade scratched, But after that moved well

13-08-18 Nifty (-20)

Pre Market analsis

• Took 2 trades, both hit SL
• In first trade, thought that the BOF of BRN is happening, but gave less importance to macro trend.
• Second trade was impulsive trade, so paid the price..

10-08-18 Nifty (-7)

Pre Market Analysis

• Once market came below PDL took short position, but came out as TSL hit.
• Took 2nd trade towards end of the day, thought that low of the day won't break.. Market was having it's own plan So SL hit. This trade could have been avoided.

12-07-18 Bank Nifty (150)

• After gap up and strength initiated the trade and ride near to top.
• Around 150 points gain

Weekly Review W27

Weekly Review W27

               The below is the details of this week trade. Last Friday attended 1 day training program with Thendral Sakthi. Received some wisdoms.
               It is very clear that following the discipline is difficult, without tools like checklist. Thinking of using check list for the trade initiation. Some common errors are

• Initiating trades with some doubt
• Not respecting the SL because of fear.

 The good thing is that the judgement errors are minimized.Check the trade details in the link below.
                        Click here

12-04-18 NIfty (-7)

• Took 2 trades with some gain. First one SL and the 2 nd with some gain.
• First trade tried the TST setup of PDH. But failed to grasp the over all picture. Market was gaining momentum in the upward direction. First it was unable to break the initial range and it broke last swing high. Missed to grasp and paid the price. Trade management was also poor. I could have sensed that there is no momentum and there was a possibility to scratch.
• 2nd trade at correct location, but there was scope of improvement of trade management.

11-04-18 Nifty (-9)

• Tried TST setup of BRN as there was down momentum at the beginning
• But Failed. Poor trade management. Could have scratched if I could have understood what is happening in the market

04-04-18 Nifty (06)

• Took 2 trades with some gain
• First trade at perfect location. But the exit was not proper, it was premature.
• 2nd trade at wrong location, with greed. Not followed the rule so punished.
• There was good opportunity at BPB of initial range. Because of fear left.

After Long Gap

Wishing you a very profitable new financial year ahead.

After a gap of one year I am updating this blog and re started the trading.  Before the gap I was very much concentrating on increasing the accuracy to become a profitable trader. But after some reading, realized that there is no holy grail. The important point which I realized is Risk management and psychology. Hope I have a decent basic Risk management and psychology to start with. This is not a fixed one. These two are ever evolving based on errors and experience.

Only my journey can say whether, my understanding is correct or not. Let us see..