Thursday, August 31, 2017

Day Trading - NIFTY - 30, 31 August 2017

Since my last post, I had been system hopping, and trying out different trading systems - mainly mechanical trading systems.

NIFTY M3 Price Action Chart
NIFTY M3 Price Action Chart

Since yesterday afternoon, I decided to try the Range Compression Trading System once more. This time, though I have rules, I have kept the system discretionary to a larger extent. Also, I do not intend to restrict myself to just the Range Compression Trading System, and will also use other methods. However, for now, the majority of the trades have been based on Range Compression.

1. Today's second trade - the Stop and Reverse to Long... I think that was really brave of me to go long when there was 9850 just below. Forgot to mention this on the chart.
2. I do not keep watching the chart all the time. This has caused me missed entries, and trails. The first 2 trades entries were almost missed, because I wasn't watching. Also, I was lucky to have avoided a SAR to short of trade 2, again because I wasn't watching.

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