Day 12 of JournalDay 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).
INDUSINDBK trade ideas
Indusind BankAfter Down Move stock went in consolidation so one can trade this stock on support and resistance basis
CALL DEBIT SPREAD/PUT CREDIT SPREADCALL 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 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 10 of journalDay 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.
Indusind Bank Short Trade Setup !TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk : Reward: 4-5 times.
Day 9 of journalContinuing on the efforts of trying to build a habit of consistently trading on a single strategy.
indusindbk good moves on the cardIndusindbk 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.
Day 8 of JournalNot a good day today. Ususally that happens on Mondays... I am not in sync with the market as it remains closed for two days on weekends.
Long Indus Bank 1568Risky 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
long indusind 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
Making of Excel based algoTried testing my strategy in excel so that in future this could be automated.
Day 7 of journalLearning 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 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.
IndusInd Buying strategy
Target: 1515, 1528, 1560
SL below 1460 (safer 2% from 1466)
Entry on retest of 1466-68 range
INDUSINDBK 23-03-2024Happy learning with trading. I just shared my view. If correct give me one like. If not correct me.
Points to Note:
1) bounce from support area an possible to reach immediate resistance.
2) volume also saying the same.
Disclaimer:
I am not a Registered Analyst with SEBI and it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits or losses.
Day 2 of JournalDay 2 of journaling my trading to see how I am doing, what is my thought process, recording it so that I can figure out where do I need improvement to trade better, make money consistently.
First Test - video and ruleThis is more like recording what I am doing everyday (right or wrong, mostly wrong I think) so that I can come back and see where I need to change, what I need to improve.
I am using the Linear Regression for direction and checking extreme ends for entry/exit. I think that LRC is good for intraday trading since you get both the things on the screen. However, also need to be careful and put your stop as well since LRC is lagging and also repaints.
I am putting this up for record so that I can revisit and learn. This is not a recommendation of any sort, just trying to make a habit of following a rule.
#Indusindbk cash : Looks good above 1521.10 and dips 1500#Indusindbk cash -Positional call
24.03.2024
Looks good above 1521.10
and dips 1500-1504
Stoploss 1480
Tgt 1560
Sustain above 1560 then 1640++
Cmp 1512
IndusInd bankPrice is moving within the range of 1420 to 1580 for few months. Now it is in between the range. 1516 - 1524 will decide the trend direction.
Buy above 1525 with the stop loss of 1510 for the targets 1540, 1565 and 1580.
Sell below 1480 with the stop loss of 1495 for the targets 1465, 1450, 1435 and 1420.
Check the live market updates.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
