Taking a break from ACTIVE trading for a month time

Taking a break from ACTIVE trading for a month time & will be doing some experiments.

1. Stay away from all social media during market hours i.e. Discord, Twitter, Watsapp etc.

2. Trade in BNF only (inspiring from twitter stalwarts) 

3. Reducing lot size to 1 from 10.. in my early days of DP trading i used to score very well.. 300-400 monthly.. couple of days back i prepared a simple excel to track points earned month wise and some parameters. Avg gain coming around 144 (so far for 2018). As i said before this is an experiment on myself how i do if i reduce position size drastically and give free hand. Based on results i have few plans to prepare a SCALE UP plan. 

Below is draft version of trade journal.

4. Trade in morning session (9:15 - 11 AM) & (2 - 3 PM) only.. unless a position running through out day on trend day.

5. Test my patience levels in not deviating to stocks,, specially at morning hours. Index trades are my strength.

6. One thing i am not doing well from long time is,, having a proper trade journal. need to explore more on it. I may decide to STOP using blog to document daily trades and restrict to share any good concepts learnt.

7. Spend some time to back test few of PA TRADING SYSTEMS on BNF (after market hours)

8. One thing i missed to explore properly in last time BREAK TIME is,, RENKO CHARTS. Will explore in this aspect and how i can utilize RENKO instead of candlesticks in future. I don't think i can scale up well by sticking to candlesticks for longer time. Its been a long time i struck with 10 lots for longer time. Though EOM results are looking good, lot of confusion and struggle happening during live market. I am hoping RENKO chart/system will solve this physiological burden to me. Idea here is to stay away from sideways range and trade trends alone.


Happy Trading!

NF & BNF : 29 - Aug - 2018 (-8)

Nifty
-----

Opened with in yeterday's narrow range and rejected at PDH
seeing pinbar rejection at DL took long with 5 lots
scratched with loss of 6 points as it failed move and reversing swiftly

Bank Nifty

----------

After trading in small range it broke DH near fagend

Took 5 lots of BNF as BO of DH with 30 points SL initially

Exited with loss of 20 points

Points earned (adjusted to 10 nifty lots) : -8

BNF : 27 - Aug - 2018 (+25)

After friday's fall.. there is no follow up wekaness at open
BNF opened gapup and making DO as DL moved till PDH swiftly
took BPB of PDH long with 8 lots.
though it moved up,, very slow move
trailed and exited with gain of 60 points


Points earned (adjusted to 10 nifty lots) : +25

NF & BNF : 24 - Aug- 2018 (-12)

NF opened with in PDR,, moved up from open .. resisted at 11605 level (pre market resistance line)
couldn't catch down move as my bias is upside at that point
took short at 11549 (10 lots) as direct BO below 2 day low
Stopped out with loss of 8 points
Will wait for PA at DH now


Points earned (adjusted to 10 nifty lots) : -9

BNF opened below PDL and quickly moved upside
later it reversed in same speed
direct BO below DL is good attempt, but i hesitated and took short as BPB of then DL
over managed and exited with 10 point loss.. (reason.. BNF stopped exactly after filling gap created on 17th Aug)
but this moved later well.
Will wait for PA in zone of 27825-35 or around PDL now




Pointes earned (adjusted to 10 nifty lots) : -3

BNF : 23 - Aug - 2018 (+9)

BNF opened with in PDR and sold off prom open
there was good signal go direct BO below PDL, i missed it
later it went into consolidation for 3 hours
took short with 5 lots on break of then DL
thought of adding more after BPB,, but seeing price again forming range,, avoided
Exited with gain of 34 points


Pointes earned  (adjusted to nifty 10 lots) : +9

BNF : 21 - Aug - 2018 (+5)

BNF opened with in yesterday range sharp fall at open time
waited for PA at PDL
it broke, but failed to go below BO bar low
for long time Break down bar acted as MC
went long with 5 lots once price accepted above 28225.
Expected good short covering above MSP.
which not happened,, exited trade with trial sl.


Points earned (adjusted to 10 nifty lots) : +5

NF : 20 - Aug - 2018 (+4)

NF opened above PDH (also ATH).. sentiment positive
But didn't chance to enter as move is quick & i am trading stock trades at that time.
it made a resistance at 11560 for longer time.
When it broke successfully, took long at 11565 with Initial SL 11558
No much momentum move happened.
Trial SL hit around 11569.80,, exited.

Points earned : +4

BNF : 17 - Aug - 2018 (+21)

Traded in BNF.

Gapup open with in PDR and quickly broke PDH
Entered above IRH BPB of PDH at 28090, 6 lots
From then BNF traded in 80 point range till 2:30 PM
Added 6 more lots once DH broken,, at 28172
Average price came to 26131.
Exited at 28165 as BO not sustained.


Points gained (adjusted to 10 nifty lots) : +21

NF & BNF : 16 - Aug - 2018 (+5)

Traded both in NF and BNF,, took longs on break of IRH.. but momentum didn't continued.

Waited for PA at lower extreme. BOF of PDL pattern in NF came, but very late.. skipped.

BNF : 09 - Aug - 2018 (+0)

Traded in BNF today as PA is good compared to NF

DO above PDH and first 3M candle acted as MC
went long above IRH directly with 5 lots; it moved well for some time and trial sl hit. gained 32 points.

Later it moved in small narrow range. waited for decisive BO, which happened around 2:30 with BULL candle. but trade failed. exited with loss of  26 points


Points earned (profit / 10 nifty lots) : +0

Nifty : 08 - Aug - 2018 (+15)

NF opened with in yesterday range; after some slide price moving towards IRH strongly with HH--LL formation, went long with 4 lots as direct BO (BN broke PDH same time swiftly)

Moved swiftly above PDH; didnt get chance to enter as BPB

later it pulled back till PDH and gave opportunity to add position with low risk, added 4 more lots at 11450. i was expecting trend day.

average price 11441.

but while making new high's price not sustaining well. exited at 11464 with gain of 23 points.

Attempted direct BO short below MSP with 4 lots but scratched with loss of 8 points


Points earned (profit / 10 nifty lots) : +15

BNF : 03 - Aug - 2018 (+129)