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Till yday morning i had got feeling of this week turning like a doji , that would not be beneficial for me.
Passed next 3/4 Short and 4/4 Long that appeared yday noon. Extension were very low even on yday that was a inviting factor for still entering the trades. But having two looser i got little defensive in selection. Closed the week with loss.
Hi Devdas,
Congratulations for maintaining such elaborate trading journal on a regular basis. Keep up the good work. It is good to find guys trading NSE in futures.io (formerly BMT) forum. I am sure writing daily journal has helped in your trading. I was reading somewhere - to inculcate new habits or to change bad one, besides other things, you need a supporting community. I am sure futures.io (formerly BMT) is the right place. I have been wanting to write journal from a very long time, but just didn't do it. I think now I have enough inspirations to start one.
Happy trading.
VKS
Go ahead with your journal. I assure you only this step will lead "New You" by miles from "Old You".
If you have observed/read older pages from last year on this journal, you will find that i had started trading with 3-min chart , over the time i am surprised now that i am trading only on 15 minute chart in a weekly framework.
Not only that, i could easily give up the charm of hunting the reversal trade by leaving 5-day continuous VAH/VAL from my chart. I really dont need those reversal trades anymore and from now i will try to close my eyes more from them.I have now on my chart the only stuff that turns my vision as a trend trader.
It was Monday and from chart i already knew that i might not get entry today. Stayed away, but waited full session.
Discretionarily , i could use momentum of last week and as a continuation of last Long trade from arrow marked today to enter long trade, but that was not a valid entry as per my methodology rules.
There will be many opposing factor for this short from different context but i am better blind for that. Have paid many times in past. Only pathetic feeling was that after 3/4 short price action never turned in 4/4 short premise , keep on oscillating between 1-2-3 type. One thing i felt that could make my trade look better - that is to 'Add' after price fell off from weekly dwap ( 5994 ) twice.But leaving this thought for another time. Hope this week is not on path of making a dozi candle and i will have a chance of good profitable extension.