Day 27 of Live Algo Day Trading JournalDay 27: Another trending day. Algo gave good entry and exit, perfect as per coding.
Progress : No chasing/FOMO/anxiety (well almost)
Learning : Need to chase profit and not let it slip away, market is supreme and smartest of all. Money is more important than getting the math right. Will chase with TSL manually when putting a stretch target.
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Nifty & Bank Nifty Analysis For 09 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too.
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Nifty & Bank Nifty Analysis For 08 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too.
Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it!
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Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
Day 26 of Live Algo Day Trading JournalDay 26: It turned out to be a good trending day today. Right from the morning the market decided to fall and kept falling. Yesterday I had tweaked my algo to take entry on pullback. Unfortunately, the morning pullback was not strong enough to get me a signal, so missed the morning trade. However, algo caught the afternoon pullback and gave me a good profit of around half a percent.
Internet consistency is an issue which is pestering me since long (now I realise that its this thing which made all my algos go wrong when I used to subscribe to other algo developers/websites). Will have to do something to raise an alarm or a flag whenever there is a drop in internet.
This drop made me take two manual decisions - one to get out when I saw that all the exit levels were broken and yet I was not getting any signal (that's when I realised that the data is not coming) and second time when algo did take the entry (because of wrong data), and then I got anxious as there wasn't enough time left and thought that the market might reverse as everyone would start closing their positions.
Progress : stuck to algo and let it run its course
Setback : Took manual decisions and got panicky/anxious when there wasn't enough time left.
Nifty & Bank Nifty Analysis For 07 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too.
Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it!
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Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
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Day 25 of LiveAloDayTradingJournalDay 25:
Another Monday after a weekend, however, now I don't feel the pressure of being wrong because I was out of sync with the market due to the weekend holiday. Now it seems the faith on the system is taking over and the thought never occured to me that its Monday. I just let the system figure out the signals and let it work. I just sat in front of it and just kept an eye on if the connection is still there and the internet data is flowing. Rest... the algo to decide.
Algo worked very well giving me the correct entry and exit signals and made a good half a percent today.
Progress : Faith getting better, anxiety gone, no panic/fear, no FOMO even when I can see the signals where I could have got in manually, yet did not take any manual positions, no emotional upsurge of taking manual position.
Volatility to be the King for coming week !! There bearish indication on charts on weekly and daily charts but on shorter time frame 15-30 mins its creating bullish pattern, pattern still needs a breakout out. looks at these structure it looks we will have volatility seen over the week.
Key things to note any close above 22800 level we would see a strong up move in nifty till 23400. any close below 22350 will open doors for 21800 again !! Friday close was exactly at support area.
Bank nifty is still not out from short term bearish side, need a close above 49200 for more upside till 49600-50K level, any close below 48600 will open doors for 48200 and below.
Weekly Market Analysis| 04 May - 14 May 24In this video, we dive into a detailed analysis of Nifty Prediction and Bank Nifty Analysis, Smallcap and Midcap Analysis in the current market trends, technical indicators, and potential future movements. Join us as we break down the data and provide insightful predictions to help you make informed investment decisions in the stock market.
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Nifty & Bank Nifty Analysis For Next Week 06 May-10 May 2024In this video, we'll discuss about Last week's Market Movement and share Next week's Analysis in Nifty, Banknifty and other segments too.
Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it!
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Engineers India Ltd. has a very good StructureHi Traders !!!
Today, I brought an analysis of Engineers India Ltd. The stock is forming a perfect Inverted H&S on daily time frame. It also gave breakout from neckline and re-tested. It is now ready to move to the 1st target of 270-272 and eventual target of 333 . The second target would be of positional one and may take some time to reach but it should come as per recent structure. Further, quarterly results on 24th may governs the 2nd Target.
Keep Following and Sharing..
Ashok LeylandHello & welcome to this analysis
Stock is in a strong uptrend which has now come close to its weekly upper channel with a bearish harmonic deep crab pattern in the daily time frame.
Strong support between 180-150 while resistance at 210
It would be a buy the dip stock or fresh additions above the weekly channel
Happy Investing
Day 24 of LiveAlgoDayTradingJournalDay 24 of DayTrading:
Let the algo run from morning. Did not tinker with it the whole day. Algo gave correct signals, however the market volatility got me and took away my profits. During the day, had the feeling that now I shoud stop the algo since I was in profit of >1%, however, let it run as I need to develop faith on my algo. Overall, an OK day, but the mindset and discipline is getting better.
Day 23 of LiveAlgoDayTradingJournalDay 23:
As expected, today being the day after a holiday (a trading break day), turned out to be a bad day. The markets remained range bound the whole day (for my stock) and just kept on hitting SL on both sides, frustrating (now, it's more like trying to frustrate). Anyways, I stuck to the algo, not doing any manual trades and the algo did not fall for anything, just the usual bearable defined losses.
Realised that I dont trust all other algo websites from where I used to subscribe, is due to this; the drop in continuous internet. This is the culprit that makes my program lose data and give wrong results. So... will have to compensate for it.
Progress: No FOMO, Anxiety, or front running, or anything else. No such emotion arose, I just let the algo do its job even when I can see that it missed the signals due to data loss.
So, a bit more progress today.