Monday, December 7, 2015

20151207 - Too many hasty entries today

Today was going well with decent wins in the first half, but turned a disaster with a string of losses in the second half. At the end of the day, I got nothing.

Many of the entries were hasty, I guess, though I am not sure. To a large extent, I tried to base my entries on the Decision Point Trading method that is explained on the Nifty Nirvana blog (link to download the free e-book on that site), but I am not doing it right.... The author does not take as many entries as I do.

Other than the entries, the rest of my trading today was mechanical trailing. One of my issues with discretionary trading is that I never know whether I did it right or wrong, which is almost what these methods are, by definition.

Again, I did not trail SL early, because that was my mechanical rule for the day. If I had trailed early, I would have lost less in the losing trades, but then Trade 2 would also have been a loss....

Day Trading: Nifty M3 Candlestick Chart


  1. Dear BT,
    Please go through the link as it may help you.


  2. Thanks Dinil,

    Those are really helpful rules... if only I would follow them :(

    I used to read the ChartTechnicals blog regularly, but Mr. Dave is no longer updating it. I know that he had started a restricted blog. Perhaps, he is focusing on that now. Miss his updates, as well as Smart Traders'.