Wednesday, September 13, 2017

Just my lucky day - Day Trading - NIFTY, CRUDEOIL

On some days you do everything right, but are undeservingly unlucky. On other days. you do the stuff wrong, but are undeservingly lucky.


NIFTY M3 Price Action Chart
NIFTY M3 Price Action Chart

I got a Short signal in the very first minute and went Short - or so I thought. I had made a typo and gone Long instead of Short. So, when the Stop Loss hit for that "Short" trade, and then a Long trade triggered, I was Long 3 times my normal position size and without a Stop Loss. I took me over 15 minutes to realize what had happened. But then, since difference between the Average Entry Price and the Stop Loss for the Long was just 4 points, I decided to trail as per my Mechanical Trading Rules.

The second trade was another confusion. My rules for dealing with slightly deeper pullbacks and volatility are not well defined. Anyway, I took the trade.

The third trade was a non-existent Long. I went Long by mistake because I interpreted the chart incorrectly.

The fourth trade was a reversal to Short, but I took that entry a few points above the trigger. So, none my entries today were correct as per my pre-defined rules.



CRUDEOIL M5 Price Action Chart
CRUDEOIL M5 Price Action Chart

Dull day in Crude Oil. I initiated my position at 5:22 PM, and after that it was a long wait until auto-square-off.... and the move happens after I exit....

I will probably not be able to trade Crude Oil tomorrow due to other engagements.

EDIT: Just realized that the exit of CRUDEOIL was about 4 points higher than what's marked on the chart.

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