NoidaToll-Scanner ResultJust showing how I missed out getting on this stock when my scanner had thrown this up for review. Now again, its coming in the buy zone, so it's worth tracking.
Discipline
Scanner Scan - Adani Ports, KRBLAdani Ports and KRBL have come up on my scanner, waiting for a breakout to go all in. Actually I start small as long as my SL is not hit.
Scanner scans - VIP Ind 10% in a dayWow ! 10% in a day of showing up on the scanner. I wish I had more money to deploy.
Did anyone benefit from it? Please comment.
Please refer previous day's video for showing up on scanner.
Scanner scans - Rpower, PrincepipeRpower showed up on the scanner and gave handsome 12% returns in few days.
Now Princepipe and VIPind has come up.
Lets see how this goes.
SPARC which did show up on the scanner is just passing time and not doing anything, hasn't hit the SL or TGT but I got out of it with minor gains and then employed the amount in Rpower.
Scanner scans - SPARCGot a 2% tgt with Nestle but got stopped out with JSW Steel on my last trades.
SPARC is a new one on the scanner, so lets see how it goes.
Tried to get again (though not fresh on scanner) on RHIM and Syrma.... Got stopped out on same day on RHIM but Syrma is holding...lets see how it goes on Monday.
Testing out scanner - RHIMAfter I stopped F&O altogether as I was not able to get a handle on it and generate consistent returns, I had decided to focus on cash market. For that I had created a simple scanner which would show up stocks which have come up above their weekly high but are still below their 50 day MA. Details of what stocks came up and how they and I performed is what all the video is about. Watch it to see my journey.
Day 37: Day Trading JournalDay 37: After a gap of about 15 days during which I was not trading, and trying to figure out if I can find a better algo strategy or trying to find out if manual trading is better. Since the algo that I had deployed was doing good in paper trade but real trade is a way different battle since the market gives you the worst of price at both times - entry and exit, it resulted in a breakeven after a month, now I decided to focus on my manual trading instead.
I realised that when trading manually, decision making is very complex and cannot be fit in a simple algorithm even when I am looking at just one indicator. The brain actually analyses many different things without even we realising. Most of the time, brain picks up correct entry signals. I tested out my strategy by paper trading and backtesting on different stocks than which I normally follow and I found that the strategy is good and I do good and I am profitable in that. The issue however arises when real money is involved as the most difficult part to master i.e. our emotions, are not involved in backtesting or paper trading. We need to trade live only for that and build that mindset. Nothing else can prepare me for that, so its all real trade for me now, very small positions but rigorously testing the same strategy on different stocks untill I have mastered the emotions.
Day 35 of Live algo Day Trading JournalDay 35: Not much movement today. Remained negative during the day.
I am increasingly getting this feeling that intraday is not worth pursuing. The time market is open is very less, the first half hour or the full hour goes just in trying to figure out where the market wants to go and by the time you think what you'd like to do, it stalls and gets into a range. By the time it ends, the market timings are over and everybody wants to pack up. Where is the time to chase any strategy, where is the time for any strategy to develop.
I think I will try looking for a swing trading strategy and see if that is profitable or not.
Progress/Setback : Nothing much on both counts, will have to explore more.
Day 34 of Live Algo Day Trading JournalDay 34: What a bad day it has turned out to be. Market gyrations has given me losses for all the trades taken. The algo was correct, the logic captured the direction of the market, however the intraday pullback of the market was beyond its normal limits (or as per the set calculated limits over a certain time) and kept hitting SL everytime. Took four trades, all wrong.
Setback: today's market has made me thinking if I should incoporate something else in the logic to figure out the major direction and take trades only in that direction? This will keep me occupied for the weekend.
Day 33 of Live Algo Day Trading JournalDay 33: Good day but did not turn out good for me today. Algo gave me entry in the morning, turned out profitable, but subsequent two entries took away all the profit. Overall a negative with minor loss.
Progress: Stuck to the algo even when was sure that we are near the support and should have taken profit. So, no manual trading today.
Learning/ to ponder: When market takes away your earnings, should you solely rely on algo ? I am thinking of changing it to stop it once a desired profit target has been achieved and take no more trades......
What are your thoughts on this ? Let it run or stop and get out ?
