Day 13 of day trading journal.
Stayed away as could not login in the morning, so could not get insync with the market.
Let the algo run and do paper trade for records and understanding and faith on the system....worked out well, will continue.
Day 12 of day trading journal.
Good thing about today : No impulsive trades, no panic, no FOMO
Paper trade on my excel based algo gave good results (better than my manual trading).
CALL DEBIT SPREAD/PUT CREDIT SPREAD STRATEGY
It is part and parcel of the verticle spread family , to be used in bullish market view.
Loss and profit is limited .
Educational video only take your trade after consulting your financial advisor.
Day 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...
Day 10, thought of punting ( front running) and got in before getting the signal. Bad idea. The signal never came and had to take a loss. Learning for today.
Achievement for today: Did not feel frustrated waiting, did not take more than two trades.
Indusindbk has formed a range from 20 jan till now of 1428-1571, recent price action forming inverted H&S, should be on radar if breaks out target gonna be 1630/1720.
Risky Long, not recommended if you are already not sitting on profits
contra bet as RS is negative
Weekly consolidation and now prices breaking out on daily
SL 1511 tgt1 1625
stock broke out an THF supply now forming a good base at supply a clear up side move might happen. can enter it might give an 1:3 return. not an financial advice just an chart analysis
Reason for long
a) Breakout pull back set up
b) Possibility of monthly breakout
c) Open=Low Set up
d) Good engulfing of 2bars
e) QQE above zero
f) Fundas okay
g) SL compulsory
Learning of today:
1. Have patience........... more than 4 hours as long as your SL is not hit.
2. Have faith in your system, do not take short exits, let the market come to you.
Day 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...
