Nifty Trading Project - Day 4

 

RULE: STRICT STOPLOSS & TARGET IN NIFTY CHART


RULE: ACCEPT LOSS BEFORE DANGER


RULE: ENTER 1 TRADE A DAY ( NO OVERTRADE)


RULE: NO GREED & NO FEAR


RULE: TAKE WHAT YOU NEED AND MIND YOUR WORK


RULE: NIFTY IS NOT YOURS


RULE: DO YOUR HOMEWORK


RULE: FIXED TRADING CAPITAL FOR ONE MONTH


RULE: DON'T BREAK THE RULES


Nifty Chart

Hello Traders,

Today i was little busy at the office in the morning 9.30 am because of the Saturday and Sunday holiday However i drawn the important supports and resistances yesterday itself. However i managed to open the Open Interest and the nifty chart at 9.45 am to check the movement of the nifty. Open interest was favorable for a downtrend with lot of call build up and also i include 200, 50, 21 ema in the chart to understand the trend of the nifty. 



Entry:   Nifty broke the 16966 which i drawn already and waited to broke Support line S1 for a confirmation to enter my trade.


As per my setup i put the stoploss just above the important line 16966 which i mentioned in the entry criteria. And the target is the S2 level, and the next target is just above the important line 16848. 


Exit: But i should have to exit when S2 level but due to work i could not exit and the nifty got reversed so fast. 
All my profit gone and PnL shows red. Luckily the nifty goes downward and touched again the S2. I put stop loss above the S2 and trailed. And it hit the target with trailing stop loss. I got the target of 0.45%.


I am not very much happy today and controlling my emotions which will help in long run trading.

Now i am analyzing the previous day's nifty movements and marking the important lines.


Lets's hope for tomorrow. Follow the rules and prepare for the Loss / Profit


Post a Comment

Thank You

أحدث أقدم