Wednesday, March 16, 2016

Nothing to be happy about - Day Trading: Mar 16, Intraday

Trade 1: Breakout Failure of Yesterday's Low. Failed.

Trade 2: SAR'ed when Trade 1 Breakout Failure did not succeed. Should have locked some profit on this trade, but it seems that I have not learned any lessons from the past 2 days.

Trade 3: Range Compression Short. Though it was just above 7450, I took it anyways. I have succeeded with these kind of entries earlier this month.

Trade 4: Fed up of my losses over the past few days, I shifted to a 100% mechanical trading system. This time it succeeded. I hate to switch Trading Systems in the middle of the trading day. Usually, I avoid the switch unless the system is giving me a huge drawdown. That wasn't the case with this discretionary trading system though. So, for tomorrow, I am undecided on whether to go mechanical or discretionary.

Nifty M3 Candlestick Chart

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