Weekly Trade Journal (2nd Dec - 6th Dec 2024 / CW49-2024)
How was the week for me...?
Welcome back to my weekly trade journal where I record what trades I took, how my trades went on, closed trades, lessons I learnt from market.
Find my last week’s update Here
Majority of the positions built in last 2 weeks survives except GANECOS, added TTIPSMUSIC in place of it.
2 Good weeks for PF in a row, it was up 3.44% and open risk also came down well with charts offering a chance to move stop up.
Closed Positions
1. GANECOS
1st Buy Price: 2309.00, 1st Buy Date: 26th Nov,
Initial SL: 2195.00, Initial Size: 11.98%, Initial Risk: 0.59%,
Avg Price: 2309.00, TSL: 2228.00, Revised Size: ____%, Revised Risk: 0.42%,
Sell Price: 2242.00, Sell Date: 4th Dec, Realized Loss: 0.37%
Set up: Showing good RS, range contraction around 20dema was good, Bought towards EOD as it showed a good close for PB reversal.
Objective: Nice up trending chart. Will follow price action respecting 20dema so far plan is to trail and book some gains if it gets real extended.
After initial move up gave up gains, still lot of supply came in from last pivot high levels, Closed as it came down below 20dema, which was not good sign in an health market. RS was weak.
Learnings: A good trade not worked, it happens in every market. Need to just accept things when they are not working in our favor.
Open Positions
1. WABAG
1st Buy Price: 1772.70, 1st Buy Date: 11th Nov,
Initial SL: 1673.00, Initial Size: 11.98%, Initial Risk: 0.53%,
Avg Price: 1772.70, TSL: 1750.00, Revised Size: ____%, Revised Risk: 0.15%,
Set up: Earnings trade, showed a good positive reaction to earnings, bought as it came out of a tight range.
Objective: Earnings momentum play lets see where it takes, will follow price action. Hoping for a move till last pivot high as target.
My initial stop was hit on 13th Nov, but not able to close due to technical glitch in 5paisa, so I was forced to carry. Here luck worked on my side.
Now lowered the stop a bit, I was expecting a bounce from oversold, as it was the only position I was holding holding risk was acceptable.
Gave a good close towards the weekend, expecting some more consolidation at this ATH levels.
No hurry held on to plan this far I will continue to do so the risk is almost at cost now. Risk accepted.
2. JINDALPOLY
1st Buy Price: 837.50, 1st Buy Date: 18th Nov,
Initial SL: 764.00, Initial Size: 12.06%, Initial Risk: 1.05%,
Avg Price: 837.50, TSL: 854.00, Revised Size: ____%, Revised Risk: (0.23)%,
Set up: Earnings trade, showed a good positive reaction on next day of earnings entered as it was showing good momentum intraday but failed to close good.
Objective: Took more risk than currently planned per trade, aim was to book some gains playing earnings momentum, which didn’t happen I was greedy here. Now the risk is accepted lets see what happens strict SL to follow.
Good move so far, gave a close above last pivot to close the week good sign.
Trailing with 20dema now, consolidation with PB is possible as it is extended from 20dema now.
Just stick to plan, 2% of open gains on risk now, Trailing stop is the plan for next week, there are no signs in market to book gains. Risk accepted.
3. IDFCFIRSTB
1st Buy Price: 65.62, 1st Buy Date: 19th Nov,
Initial SL: 62.90, Initial Size: 11.99%, Initial Risk: 0.60%,
Avg Price: 65.62, TSL: 63.00, Revised Size: ____%, Revised Risk: 0.38%,
Set up: Value reversal trade, Price reacting from a Flag limit demand zone (Advance price action concept) with earnings day shakeout. Entry as it showed reversal from demand zone.
Objective: This will be a magnitude trade, aiming for larger RR, lets see how it works. need to give some room for intraday shake outs. Follow daily closing base stops.
After some struggle came up above falling 20dema this week, gave a good chance to move the stop up.
Stay with the trade objective. It is reversal bet, plan is to hold with some room for intraday volatility, Just follow the plan, risk accepted.
4. CONCOR
1st Buy Price: 808.30, 1st Buy Date: 19th Nov,
Initial SL: 775.00, Initial Size: 11.99%, Initial Risk: 0.50%,
Avg Price: 808.3, TSL:818.00, Revised Size: ____%, Revised Risk: (0.14)%,
Set up: Value reversal trade, Price reacting from a Flag limit demand zone (Advance price action concept) with a short duration double bottom. Bought as it showed a reversal with momentum.
Objective: This will be a magnitude trade, aiming for larger RR, lets see how it works. need to give some room for intraday shake outs. Follow daily closing base stops.
Continued to be in good upswing from last 2 weeks, so far doing well, I will trial with 20dema from here on unless a good price action pivot to trail.
Be reminded about the objective this trade is a reversal bet I am playing for bigger magnitude returns need to face the whipsaws. So accept the risk.
5. AZAD
1st Buy Price: 1619.35, 1st Buy Date: 21st Nov,
2nd Buy Price: 1633.00, 1st Buy Date: 25th Nov,
Initial SL: 1538.00, Initial Size: 5.99%, Initial Risk: 0.30%,
Avg Price: 1626.19, TSL: 1670.00, Revised Size: 11.98%, Revised Risk: (0.32)%
Set up: Recent IPO with strong RS while the whole market making LL this is making HL. Bought as a PB reversal to 20dema.
Objective: Small size, lets see I will add if crosses above 1646, till then strict SL to start. May think of magnitude returns if start working in my favor as a recent IPO.
Added another 6% size this week as showed in chart above, as it cross last Thursday’s inverted hammer high, good it worked very well.
Start of this week was good but gave up later, still consolidating with good strength. Now there is a pivot which coming near 20dema nice ay to trial stop.
I will follow closing basis stop now just to survive through whipsaws, dont want to give up a good winner. Until there is another good chance to trail up.
Follow the plan, risk accepted.
6. CUB
1st Buy Price:174.70, 1st Buy Date: 26th Nov,
Initial SL: 166.00, Initial Size: 11.99%, Initial Risk: 0.59%,
Avg Price: 174.70, TSL: 176.00, Revised Size: ____%, Revised Risk: (0.08)%,
Set up: It was on watch since it showed a good earnings reaction with gap RS was also good against weak market. Bought as it showed PB reaction to 20dema. Well executed trade with patience.
Objective: This stock has been underperforming since the last bull run of 2020, since this March showing some structural changes and earnings event adds some more confidence. Marking this as a magnitude trade giving some room for price to move up and down, lets see.
Continued to do well this week too, I am able trail my stop up with 20dema now
Be reminded about the objective this trade is a reversal bet I am playing for bigger magnitude returns need to face the whipsaws. So accept the risk fully.
7. ABDL
1st Buy Price: 322.90, 1st Buy Date: 28th Nov,
Initial SL: 305.00, Initial Size: 12.07%, Initial Risk: 0.66%,
Avg Price: 322.90, TSL: 330.00, Revised Size: _____%, Revised Risk: (0.26)%,
Set up: Was coming out of a TL break out, (Trend lines can be subjective) also it is an early buy within a consolidation base which is a base over base of last cup base. (refer market smith chart). A risky Buy…!
Objective: IPO stock also belongs to alcohol sector which might act as defensive sector may show some resistance to weak market, IPO’s have more chances to provide magnitude returns, so giving enough room to price fluctuations.
After initial struggle made a good move, looking so strong, now its knocking highs since IPO this may take some time, supply may come in now ready for sharp pullbacks.
IPO stock can be very volatile need to stick to plan, since it gave a good move so far following closing basis stop seems reasonable.
Stick to plan risk accepted.
8. TIPSMUSIC
1st Buy Price: 899.25, 1st Buy Date: 4th Dec,
Initial SL: 835.00, Initial Size: 11.98%, Initial Risk: 0.85%,
Avg Price: 899.25, TSL: _____, Revised Size: _____%, Revised Risk: _____%,
Set up: Price is in good uptrend forming a triangle pattern bought as it broke out of a trend line.
Objective: Pure technical a momentum chart will be traded with momentum.
No follow through after break out, came down now testing 20dema which may offer some support lets see.
Stop will be in system trade will be closed as it triggers.
Notes:
Currently I am 96.00% invested. All risks and PnL’s mentioned here are in terms of overall PF %age.Portfolio updates and stats
Portfolio is up 3.44% for the week.
Current open risk at PF level is 0.31%. (improved well from 4.61% last week)
Portfolio is down by 3.62% from last peak (Last peak was on 20th Sep 2024). Good improvement from last 2 weeks from 10.62% to 6.82% to 3.62%
Expected drawdown at present is 9.87% from peak (20th Sep 2024), Improved from last week’s 13.54%. (Max allowed is 9% from peak).
Learnings
There is an observations I made, once you loaded up all the positions and market started working in our favor the names in our watchlist will move up strong this creates a question in our mind that “Am I in wrong names?”
The above thing did happen every time when I am fully in. This is more of a psychological thing as we cannot see the PnL in numbers from our watch list. Need to have patience and clarity that we cannot control things which are not in our hand. Trust the process and pat your back for following the plan.
Trades can fail even in very good market risk management and money management comes first always.
Plans for the week ahead.
General market continued to do well and now seems upswing is quite extended. This may trigger thoughts to book some gains, but looking at the larger picture there is still fuel left in this upswing its time to take the risk on your winning horses to go further.
I am fully in need to just try to trail the stops which is No.1 priority now.
General market health to be followed closely, no worth in giving up all the gains, at the same time no panic exits to make too, situation to be handled with great awareness to market health.
Plan in all creative way before market open and total discipline to follow it during market hours.
That is all for this week, see you next week. GOOD LUCK.
Thanks
Shangren Panda 🐼