my open trade diary

*********************self talk: for busy positional/swing traders, end-of-the-day (EoD) and mid-of-the-day (MoD) 10 minute analyses is ok.

*********************self talk: take care of the loss and method, profit will take care of itself. rather, if choking loss and sticking to the method becomes the primary objective of the trading game, it can wonderfully rewarding and satisfying.

*********************self talk : there is no time-table for a revenge of the loss. the humiliation of an incidental or accidental defeat or loss has to be absorbed. rather, a loss can and should never be considered as a lost-territory to be won back by equal or bigger gain. a loss should be framed and kept as a reminder-trophy. gains will come. but they will come on their own merit.

*********************lesson: when things go wrong embrace method even tighter;

*********************self talk: those who are not full time traders (can't sit in front of terminal all the time) must not day trade. rather, they should also not attempt positional or swing trading if their method is not well advanced. even a small delay in squaring-off the wrong position when u r away from the terminal, or, even a small error in judgement, or, even a small loophole in a system, can hit hard. trading is either a full time job or a part-time precision hobby with well developed and practiced method. hone the method with low risk options rather than futures.

*********************self talk: stick to options, the hit in options is much lesser than futures in case of a mistake.

*********************self talk: absorb the punch, step back, take a break, fight back with technique and not emotions. recovery with the right technique is as swift as any loss!

*********************lesson: use 5min chart instead of 30min chart for swing trading for better timing.


trade 8:
24 march 9.18am
sold nifty futures march series at 5515
positional
squared at 5645
loss= 130 per lot

trade 7:
23 march 10:11 am
bought 5300 PE march series at 16.95
positional

trade 6:
22 march 2.56pm
bought 5300 PE march series at 36.7
positional

trade 5:
21march 11:31am
bought 5300 PE march series at 54.9
positional

**********lesson: avoid buying anti-trend options.
**********lesson: opportunity is like spirit.more u let it age, the better it becomes. don't be too eager and early to latch on to opportunity.
**********lesson: to avoid booking profit too early and to avoid terminating winners too early, instead of squaring off the position and going reverse at indicator signal, just take the reverse option and let it run concurrently!

trade 4:
18 march 11:13am
bought 5500CE march series at 65.5
positional
squared at 46.90
loss = 18.6 per lot
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trade 3:
17 march 12:24pm
bought 5400PE march series at 70.8
positional
--
squared at 98.55 at 10.28am 18mar
profit = 27.75 per lot
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trade 2:
16 march 10:15am
bought 5600CE march series at 68.8
positional
--
squared at 55.9 at 12:49pm 17march
loss = 12.9 points per lot
==================================
trade 1:
14 Mar 11:18am
bought 5400 PE march series at 77.5
positional
--
sold at 119.3 on 15mar
profit = 41.8 points per lot
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