Let me rock in 2011!

I should rock this year..

> Let profit runs. Cut the losses

> Never ever hesitate to follow the signal from system whatsoever loss you are in.

> Remove fear

> Develop patience

Let this 2011 will be a turning point in my trading life!!

Basics for Swing Trading

Stay in one time frame! Yes, it is important to be aware of the big picture, but it should not affect where you get into or out of a trade or how you manage it. Don't turn short-term scalps into "big picture" trades
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When in doubt, get out! If the market goes dull and quiet after you enter a trade and makes no progress in the direction of your entry, do not wait until your stop is hit. Just get out! Seek a more active market or better trading opportunity.
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Don't trade in quiet, dull markets. Dow, Livermore, Rhea, Taylor, Gann-all the greats say this over and over. There must be activity and liquidity in order to trade profitably.
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Don't carry losing positions overnight. Exit and try entering at a more favorable level the next day.
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If the market offers you a windfall much bigger than anticipated profit on a trade, lock it in! Take profits and dont trail stop. You will again get a chance.
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Finally, remember that both in short-term trading and mechanical systems, the distribution of winners is skewed. Most of a month's profits might come from only two or three big trades. Much of the time the individual profits may seem small, but more importantly the losses should be small, too. It is vitally important to lock in" the best trades. Be defensive and don't give back profits when swing trading!
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courtesy : Unknown

never ever skip stop loss!!

This lead break-out gave me 15k loss..only coz i didnt respect stop loss... i was in short and i should have stopped at 102.5 and reversed into longs.. but i skipped stop loss and booked loss at 105.00( entry for short at 100.00)



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so far with Nifty!!

It has been a long ride with Nifty.hmm.. from 2008, i can say. I was terribly long in nifty when it started falling when there was jittery everywhere due to lehman collapse.. i never respected my SL and was watching my MTM loss growing fat. Finally came out of the position when virtually nothing was left out..

Gave a pause to trading by early 2009. In fact, i was arranging for my capital and slowly started with nifty again in mid 2009.. got some good trades and by early 2010 i was able to get ROI of 100%.. that was a dream and yes i was able to make it..

But the pity was, again almost lost everything when nifty had a break out at 5450 by Aug 2010..i was again terribly against nifty with my short positions and it never looked back once it had a superb break-out.. i was looking for some good pull-back to exit but it never gave a chance from its rally from 5450 to 6000..but when it reached 6000, i was started expecting a correction and not the pull back..but it gave a small pullback and there was no correction and i had to book all my shorts at 6075 which was carried all the way from 5400.. just two trades took my entire capital twice in my life :)

yep, its not at all worthy to lose all your capital in just one trade..but that is what market which never give you a chance if you are on a wrong trade ..i knew it was all my error and not market's error...

am taking a pause now with nifty and looking at commodities.. i know anyone hearing this will laugh at me thinking that how come a person failed in nifty can make success in the rapid commodities market. But i feel that TA works comparatively good with commodities and returns should also be comparably good here considering the margin requirements.

equities or commodities, i know my passion lies here. I cannot leave this space since i lost here. I am even happy to lose money when i do something which i love . So, i will be in trade but with more disciplined way henceforth..

It's my dream to make success stories with nifty one day with my TA studies...and I WILL DO THAT..

My trades - Intro

This space is just to register my trades,learning on this ever changing markets and recording some chart observations and lot more.. :)