Hello all, :eat:
Obviously this is yet another trading journal over here, let's see how long this stays though.
Aim
- To be Intraday Trader in future
- So be successful on paper trades to be become an Intraday trader.
Process involved
PROCESS 1 - Getting the BIAS of Market RIGHT being Paper Trader
Step 1) Preparing a watchlist in F&O segment for tomorrows trade
Step 2) Using Bollinger Band, Volume & S/R , scan all F&O's
Step 3) Adding the bias of analysis whether SHORT or LONG entry.
Step 4) Next day, let the market move ( Not worried about Enty or Exit, just watching for now)
Step 5) At EOD , post market analysis
Step 6) Analyze the possible entries on the bias you were correct, analyze the wrong bias on where it went wrong.
Step 7) Record the observations.
Step 8) Calculate the Win Loss Ratio just based on the bias
Step 9) Repeat the steps again.
Step 10) To improvise to get the WLR >1 for daily basis
Step 11) Improvise to get WLR > 3 on monthly basis ( To calculate the average though)
PROCESS 2
Not yet started until I achieve WLR > 1 , I have planned them out as well. But I need to work out my WLR as if now. That's what I am trying to improvise.:!
-------------------------------------------------
What is WLR ?
- It is Win Loss Ratio.
WLR = Total Win Bias for the day / Total Loss Bias for the day
Please note that, I am only considering the WLR for just BIAS of market. This will take further break down as in when I start to trade.WLR will change for number of trades with respect to Money Management.
So overall, even if I am riding with my present WLR ratio which is shown below , I must make money eventually, which is just for BIAS BIAS BIAS !!
Below is my excel record sheet , that I started from 14-Dec-16 onwards.
If it is not visible enough
The Columns that I use are
RESULT - This is post market data if my bias was right it will take as TRUE or else FALSE
STOCK NAME - Scrip
BIAS - Market Bias ( My possible way to look into the market for tomorrow)
BOLLINGER BAND - Candle on Upper Band or Lower Band
VOLUME - Very High/ High/Medium/Low/Very Low
S/R - Support or resistance / 200 MA / 20 MA
CANDLE PATTERN - Just candle pattern formations
DAILY VOLATILITY - From nseindia.com
REMARKS - If any
PRIOR DAY REALITY - What happened to market next day?
INFERENCE - My observation on where I went wrong/right and record them and appreciate and punish myself.
At the bottom, WLR Calculation part. I intend to improve further once I start to trade better with risk : reward analysis. As if now, I am focused on WLR above 1
Still to be continued further..
Obviously this is yet another trading journal over here, let's see how long this stays though.
Aim
- To be Intraday Trader in future
- So be successful on paper trades to be become an Intraday trader.
Process involved
PROCESS 1 - Getting the BIAS of Market RIGHT being Paper Trader
Step 1) Preparing a watchlist in F&O segment for tomorrows trade
Step 2) Using Bollinger Band, Volume & S/R , scan all F&O's
Step 3) Adding the bias of analysis whether SHORT or LONG entry.
Step 4) Next day, let the market move ( Not worried about Enty or Exit, just watching for now)
Step 5) At EOD , post market analysis
Step 6) Analyze the possible entries on the bias you were correct, analyze the wrong bias on where it went wrong.
Step 7) Record the observations.
Step 8) Calculate the Win Loss Ratio just based on the bias
Step 9) Repeat the steps again.
Step 10) To improvise to get the WLR >1 for daily basis
Step 11) Improvise to get WLR > 3 on monthly basis ( To calculate the average though)
PROCESS 2
Not yet started until I achieve WLR > 1 , I have planned them out as well. But I need to work out my WLR as if now. That's what I am trying to improvise.:!
-------------------------------------------------
What is WLR ?
- It is Win Loss Ratio.
WLR = Total Win Bias for the day / Total Loss Bias for the day
Please note that, I am only considering the WLR for just BIAS of market. This will take further break down as in when I start to trade.WLR will change for number of trades with respect to Money Management.
So overall, even if I am riding with my present WLR ratio which is shown below , I must make money eventually, which is just for BIAS BIAS BIAS !!
Below is my excel record sheet , that I started from 14-Dec-16 onwards.
If it is not visible enough
The Columns that I use are
RESULT - This is post market data if my bias was right it will take as TRUE or else FALSE
STOCK NAME - Scrip
BIAS - Market Bias ( My possible way to look into the market for tomorrow)
BOLLINGER BAND - Candle on Upper Band or Lower Band
VOLUME - Very High/ High/Medium/Low/Very Low
S/R - Support or resistance / 200 MA / 20 MA
CANDLE PATTERN - Just candle pattern formations
DAILY VOLATILITY - From nseindia.com
REMARKS - If any
PRIOR DAY REALITY - What happened to market next day?
INFERENCE - My observation on where I went wrong/right and record them and appreciate and punish myself.
At the bottom, WLR Calculation part. I intend to improve further once I start to trade better with risk : reward analysis. As if now, I am focused on WLR above 1
Still to be continued further..
NooBs Trading Step into Wild Market
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