BC SCREENERS
Saved by @SAnngeri

7 effective trading journal tools that you can use to make better decisions (instead of just maintaining a trading journal):🧵

Collaborated with @AdityaTodmal

 @AdityaTodmal Lets start with the harsh truth.

80% of traders just maintain a trading journal and never evaluate.

Recording your trades on day-to-day basis is just maintaining a trade book which your broker can furnish anytime.

Hence this exercise of recording trades is simply futile.
@AdityaTodmal Things to record in the Trading Journal:

1.Long/ Short
2. Symbol
3. Qty
4. Buy Date
5. Buy price
6. Sell Date
7. Sell price
8. Profit/Loss
9. SL
10. % of cap risked
11.RoI %
12.RoCE %
13.Days held
14.R/R
15.Set up used
@AdityaTodmal Once all the records are in place you need to build an analytics tool.

Trade records on its own is just the raw data which needs to be processed to derive info out of it.

Record your 50 or 100 trades.
@AdityaTodmal Thereafter, analyse the following:

1. No. of wins
2. No. of Losses
3. % of winning trades ( No. of wins/Total trades)
4. Avg gain %
5. Avg loss %
6. Gain to Loss ratio ( 4./5.)
7. Reward to Risk ratio
8. Open Risk
@AdityaTodmal 1. No. of wins:

If you have taken 50 trades in total of which let say 20 were in your favour then the no. of wins is 20 trades on 50.
@AdityaTodmal 2. No. of losses:

Considering the above example the no. of losses = 50-20 =30 trades.
@AdityaTodmal 3. % of winning trades:

Simply divide the no. of winning trades divided by total trades.
i.e. 20/50 = 40%.

This is also known as the batting average (Reference drawn from @markminervini books).
@AdityaTodmal @markminervini 4. Avg gain %:

If your capital is 10lacs, you make 20k out of it from one trade the % gain is 20k/10lacs i.e. 2% gain

Now take average of all the % gains out of your 50 trades
@AdityaTodmal @markminervini 5. Avg Loss %:

If your capital is 10lacs, you lost 10k out of it from one trade the % loss is 10k/10lacs i.e. 1% loss

Now take average of all the % losses out of your 50 trades
@AdityaTodmal @markminervini 6. Gain to Loss ratio:

Simply divide Avg gain % to Avg loss %

Lets say you average gain works out to 15% and average loss works out to 5% then the Gain to Loss ratio is : 15/5 = 3:1

But it doesn't take into consideration the batting average
@AdityaTodmal @markminervini 7. Reward to Risk ratio:

Lets say you have a 40% winning ratio, and you avg gain % is 15% and avg loss % is 5%

Then the Reward/ Risk ratio = 40*15/ 60*5 =2:1

Reference: Think and Trade Like a Champion book by @markminervini (A must read)
@AdityaTodmal @markminervini Now using the above logic, first find your winning ratio and then determine what should be the ideal gain/loss ratio which will help you to have a better Reward to Risk ratio.
@AdityaTodmal @markminervini 8. Open Risk:

Check all the open positions with reference to SL.

However there's an overnight risk in case the stock/index opens with a gap.

Reduce your positions or use hedge mechanisms such that your open risk is at your comfortable levels i.e. usually between 2-5%.
@AdityaTodmal @markminervini And that's it!

The next time you record your trades on the trading journal try to analyse on the above 8 points.

Be creative and you can compute the winning %, gain to loss ratio and Reward to risk ratio for specific systems as well.
@AdityaTodmal @markminervini Ultimately you can use these analytics to see where you failed and why you failed and try to rectify or eliminate those issues.

Bet more on the system that works for you.
@AdityaTodmal @markminervini If you enjoyed this thread here's another one which might be helpful:

https://t.co/cHJAv8xvXY
@AdityaTodmal @markminervini Hope you discovered something new (because that's the point!)

If you did, share it with a friend

Also show some encouragement for this thread, if its valuable to you

Hop back up to retweet the first tweet

See past threads here:

@AdityaTodmal

&

@niki_poojary

More from Nikita Poojary

Nikita Poojary
Nikita Poojary
@niki_poojary
The most valuable aspect in trading you aren't using:

POSITION SIZING

Sizing is the key, you'll make big money only if you own a significant size without compromising on risk.

Here are 10 of them, and they are for free: 🧵

Collaborated with @AdityaTodmal

1/ For a faster growth, one needs to have a bigger size:

• What difference would it make if a stock moves by 300%?

• But then, what if you had only 1% capital allocation?

• Despite the stock performing spectacularly, your account won't reflect the same, due to small sizing.

2/ Three types of position sizing:

1. Fixed absolute Rupee amount that one is willing to risk.
2. % risk of the total capital.
3. Basis the edge.

Risk tolerance should be taken into consideration while determining appropriate position sizing.

3/ Fixed absolute Rupee Amount:

• Eg: Total capital is Rs. 10 lacs and the max risk per trade is Rs. 7500

• Lets say a stock is trading at 1200 and your SL is 1120 (i.e. your risk per unit us Rs. 1200-1120 =Rs. 80)

• Optimum qty: 7500/80 = 94 units

4/ Percentage risk of total capital:

• Lets say you want to risk 1% of the total capital on each trade.

• Considering the total capital of Rs. 10 lacs, you shall risk Rs. 10,000 i.e. 1% of 10lacs on each trade.

• Quantity to be traded/invested calculation remains the same.
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Nikita Poojary
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@niki_poojary
Some people think technical analysis is useless. But we use technical analysis in all our trades.

Here's a list of 13 technical analysis books to help you learn and grow: 🧵

Collaborated with @AdityaTodmal

1/ Stan Weinstein's Secrets for Profiting in Bull and Bear Markets.

The ideal time to buy/sell, using the best long-term indicators to spot Bull and Bear markets Odds.

Author: Stan

2/ Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market.

Selecting precise entry/exit points, preserving profits, and getting consistent 3 digit returns.

Author: Mark

3/ Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard How to develop the confidence to achieve super performance.

This is a follow-up book for trade like a stock market wizard.

Author: Mark

4/ Trading in the zone.

The author analyses from a psychological perspective the most common issues related to trading.

Author: Michael
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Nikita Poojary
Nikita Poojary
@niki_poojary
Short Straddle is the highest payoff strategy.

However it comes with undefined risk.

Most traders don't know when & how to adjust the short straddle when it goes wrong.

Here are 16 adjustments to lower risk & increase profitability:🧵

Collaborated with @AdityaTodmal

1/ Longer-term short straddle:

• Helps in getting a big range: trade in biweekly, monthly, or far months.

• The only drawback with longer term straddles is the slippage.

• Also go for round levels both in NF and BNF as they have better liquidity.

2/ Weekly expiries will have short range:

• Leading to higher risk.

• Would require frequent adjustments.

3/ When to sit tight?

• As long as the underlying is between the breakeven point of the Short straddle, we do nothing.

• Don't adjust till breakeven comes, simply sit tight.

• Adjusting a short straddle typically brings in more credit, which increases the profit potential.

4/ When does a short straddle come into loss:

• The moment the underlying price moves towards one end of the breakeven point, your short straddle will be in loss.

• Adjustments would require additional funds, so don't go all in with your capital for shorting straddles.
ALL
Nikita Poojary
Nikita Poojary
@niki_poojary
#NIFTY

Bearish engulfing on monthly or bullish harami on Weekly , which one will play out?

Outlook for the week Jan 2 - 6, 2022.

THREAD: Deconstructing NIFTY on 5 different TF's.

#NIFTY

1. Monthly TF:

• Although the structure in monthly TF is of HH-HL, December monthly candle is a more of a bearish engulfing.

• However it is exactly at the support

• 17800-18000 looks like a strong support.


#NIFTY

2. Weekly TF:

• 17800- 1800 used to be a resistance in April & August 2022.

• However post BO of those levels, they might act as an immediate support.

• Current weekly candle is closer to the support (erstwhile resistance)


#NIFTY

3. Daily TF:

• After a sharp vertical fall, we expected a buying momentum

• Also Nifty filled the Gap.

• Strong support at 17800


#NIFTY

4. Hourly TF:

Moving within the rising channel, albiet the channel is quite steep.
TRADING
Nikita Poojary
Nikita Poojary
@niki_poojary
90 million active demat accounts in India.

Less than 1% understand Fibonacci retracement.

This mega thread will help you understand better—starting today:

Collaborated with @AdityaTodmal

1/What is Fibonnaci (Fibo) retracement?:

•Fibo retracement levels help us to identify potential reversal area or identifying potential entry point after a pullback.

•It represents various levels of significance within a swing high and low.

2/How to plot the Fibo?

•Spot the recent swing high & swing low (usually a peak & a low) on a chart.

•Plot the Fibo on these points.

•You'll get 5 key levels of support & resistance (S/R) in between the peak & low.

•Key Fibonacci ratios: 23.6%, 38.2%, 50%, 61.8%, & 100%.

3/ Importance of retracement levels:

• The retracement level forecast can determine the level at which retracement is likely to occur.

• These retracement levels offer traders a favourable entry to open new trades in the direction of the trend.

4/ When to apply Fibo:

•Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices.

•Applying it in range bound markets would turn out to be a futile exercise.
FIBONACCI , ALL

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@scorpiomanojFRM
#Freetip
A simple strategy to capture Multibaggers.
1) WklyChart
2) 30 wk MA and 10 Wk MA
3) 10 ma at 45 degree steep.
4) Get ready for long -10 ma crosses 30 ma.
5) Go long on a pullback at 10 MA. 6)Add on pullback at 10 MA.
7) Exit if complete candle closes below 10ma
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Learner Vivek Bajaj
Learner Vivek Bajaj
@vivbajaj
My System for momentum trading🧵:

1. Stock Identification:

Daily and Weekly Delivery Analysis using @mystockedge
Theme Confirmation using Internet and Network

2. Stock Confirmation:

Relative Strength of a stock visavis market using RS55 model listed in @mystockedge

1/n

3. Stock Participation:

Only when chart showing short term breakout along with RS55>0 and RSI>50. I am ready to leave some initial movements.

4. Position buildup:

Every time the stock gives a breakout from the previous swing high add more position and go all-in.

2/n

5. Stock Exit:

I run two portfolios: Short term Swing and Long term Swing.

For Exit in Short term swings, I use a 2hourly Chart with super trend and RS. I am using @tradingview for the same.

For long term swing, I exit when the RS of the stock goes below 0. Period.

n/n
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ScorpioManoj
@scorpiomanojFRM
#Tool
Inside Day + Inside Week + Inside Month Candle pattern filter in Chartink. These stocks have high chances of breaking out / down.
Use at your own risk. Not specifically tested. Logic is based on common
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Kunal Bothra
Kunal Bothra
@kbbothra
4th consecutive month of Negative returns on Nifty has Always been Major Bottom for Nifty.

We already had 3 mnt -ve so far

(Mar 20: 3rd consecutive -ve mnth)
Feb-19: 3rd
Dec-16: 4th
Feb-16: 4th
Aug-13: 3rd
Nov-08:3rd
Nov-01:4th

Just see the bounce from there !
Wats your view?
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The_Chartist \U0001f4c8
The_Chartist 📈...
@charts_zone
May please read the attached tweet once again for a key LEARNING

USDINR - a breakout that will not bode well for the equities

78+ https://t.co/AWqZxF5B1L
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