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.
Psychology
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.
Random Chart Analysis : BF Invest ltd.Took a good trend line support made a jump of 16 points from 549 to 569 approx. Also broke the trendline today making low of 543.
As per trendline analysis it looks like selling has good oppurtunity if open without gaps.
Support at 543 if broke then Target : 537
Resistence at 553 if fail then Target : 543
For more random analysis like this please follow & share.
Note : Do your own analysis before making any trade or investment.
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.
Day 22 of DayTradingJournalDay 22 of DayTradingJournal:
Let the algo run from the morning. Algo did a good job. Had an issue with internet in later part @2:30 when it stopped downloading data and hence no signals. This eroded my profitablility, otherwise later on I checked up eod data and ran a backtest to see the discrepancies in the live vs backtest data. Surprisingly, both matched. Other than the internet issue everything else is OK.
Progress: No FOMO, no temptation (or controlled it), faith in system.
Day 21 of DayTradingJournalDay 21 of DayTradingJournal:
Full live algo deployed. Algo did very well compared to what I think I'd have done had I taken trades manually. Algo did as expected, taking all the entry, exit, SL, Tgt signals correctly.
Progress: No manual trades today, no FOMO, no front-running the signal, no fear/greed while sitting in front of the system. Had an instance when I was tempted to take a manual trade, but stopped myself from doing it and kept the faith on the algo.
Setback: today, nothing.
Day 20 of DayTradingJournal - LiveAlgoFirstTestDay 20 of DayTradingJournal:
Today I did my first test of the algo that I have been trying to make. I put it live right from the morning and let it take all the trades that comes its way. Surprisingly, the algo did very well. (I think if I did manually, I might not have been so good).
Learnings for today: Keep the faith on the system, it pays well.
Since TV does not allow publishing of live data, I made a video of it to check for later. You can check the live trade of algo on my YT channel at hiren2517 (TV doesn't allow me to paste the link here)
Day 19 of DayTradingJournalDay 19 of DayTradingJournal :
Good day today, the algo performed as expected. Gave correct signals and fired correct signals to broker account. Tried tweaking some more, but then after running on dummy account realised that the existing setup is better, so will continue with it tomorrow as well. Tomorrow, will let all signals go through the algo and see how it performs during the day.
Take away for today: Faith on the system, giving it time to unravel the gift it has, it takes it time, give that time and you'll be rewarded.
Day 18 of DayTradingJournalDay 18 of DayTradingJournal: Today was a good day with my algo finally doing as expected. Had this issue since last two days, though I had fixed it up last night, however, realised a small bug had crept up, was taking data from one set and applying to another set and expecting correct results. Obviously wrong, got it resolved and then tested it. The algo now gave the expected results.
Today's trading take away: Mirrored a trade as per algo's signals even when it looked like I should take trade on the other side (had there been no algo signals, i'd have taken the wrong trade as the charts and markets decieve you), but then I decided to keep the faith and took the trade suggested by the algo. Turned out good and profitable. There was an instance or two wherein the lizard brain tried to get to me to get out the trade but I persisted, kept the faith and let tha algo run and give signals. So, progress on two fronts - faith on system and control on lizard brain.
Day 17 of DayTradingJournalDay 17 of DayTradingJournal:
Today was a very boring day if you are only into trading. I got busy on working on my algo since it was not yet ready and I was not getting response as expected, still working, hopefully should progress little bit by tomorrow. So, a productive, busy day, but no trading.
Day 16 of DayTradingJournalDay 16 of DayTradingJournal:
As its with me and Mondays, weekend made me lose my sync with the market, took some manual trades looking at the charts and ended up making losses. Did some more coding on the algo yesterday which did not work properly on the broker's account today and hence was tied up in resolving that. Got resolved by day end, so hopefully tomorrow back to testing.
Day 11 of journalDay 11: Took an impulsive trade, lizard brain got me again. Need more consciousness to control it. Need more practice. Other than that, logic seems to be working good, strategy seems to be profitable, only issue is with practice so that lizard brain can be brought under control. Hate the market timings - very few hours to practice, the first hour just goes in deciding what direction to take, then it remains choppy for 2-3 hours and finally it decides to give you something. Wish the market remained open longer, maybe untill 12:00 midnight like MCX.
Day 6 of journalDay 6:
Had the idea of chasing the trend, however, realised that I am not yet ready for it. The SL was very far off and hence was sceptical of taking the plunge. Upon confirmation candle, did take the stand; and it turned out to be correct, got out at expected target.
Learning:
1. Waiting for confirmation definitely helps
2. Do not doubt the system even in an opposite trend ( the stops are reasonable/small as per system while targets are big)...... easier said, will require sometime I guess for me to take position against what shows if my system says contrary.
Untill now looks like taking the predefined SL and Tgts have been profitable (though it will miss large trends, but that later)
Day 5 of journalDay 5
Experimented with 15 min chart to see if it can help identify the major trend for the day. Untill now I used to look at 1 hr chart to judge on major trend.
Looks promising and delivers within the day. Will follow 15 min chart to see if can help me identify the trend correctly, consistently.