Diary of a day trader......

AmoghG · #21 9th October 2007, 04:47 PM

^ +1......

Indianzz · #22 9th October 2007, 05:30 PM

Sir/Madam
I/We have this day done by your order and on your account the following transactions.

Order No Trade No. Trade Time Security Buy/ Sale Qty Gross Rate Per Security Total Brokerage
1737932 6363667 13:00:05 POWER GRID CORP Buy 10 97.40 -974.50 0.50
526519 5594274 10:45:31 POWER GRID CORP Sale -40 99.05 3960.00 2.00
620128 5500438 10:37:38 POWER GRID CORP Buy 10 99.50 -995.50 0.50
480357 5314110 10:20:44 POWER GRID CORP Buy 10 100.80 -1008.50 0.50
226137 5126411 10:05:07 POWER GRID CORP Buy 10 101.70 -1017.50 0.50
69773 5028070 09:57:30 POWER GRID CORP Buy 10 102.80 -1028.50 0.50
1741972 7476540 15:24:23 POWER GRID CORP Sale -10 97.55 975.00 0.50
2690530 7356773 15:11:40 POWER GRID CORP Sale -10 96.80 967.50 0.50
2684780 7246366 14:56:33 POWER GRID CORP Buy 10 96.50 -965.50 0.50

Service Tax of Brokerage Rs. 0.74
Transaction Charges Rs. 0.83
Net Amount Rs. -89.07
Security Transaction Tax 1.00

well i was just testing the waters in this trades, to see if there is any use going into the trade, apparently there was no use!

and i am not sad that i lost 89, i it's a supersmall price to pay to test if the time to trade is right or not!

in stock trading not losing money is as good as making money coz money not lost is money made!

Linus · #23 9th October 2007, 05:58 PM

Quote:

Originally Posted by Indianzz

happiest!

there are traders who invest like a million on a daily basis, he dosen't give them a chair, and adresses them like yeh lele "yaar"!

when i come, he stands up from the chair, and says, yeh dekhiye "sir".

its' so funny, yet so sad! that only person seems to be earnign from me is not me, but my broker!

so, well let's hope i start earning before i lose all the money i don't have!

Hi Indianzz,

Please take my post in a lighter way, and on the other hand I admire you for being true and honestly putting your trades.

Wish you all the best.

s

s

Linus · #24 9th October 2007, 06:01 PM

Quote:

Originally Posted by oxusmorouz

I'm surprised at some replies in this thread. The person is posting his trades, and being honest about it, unlike those who claim to make millions day trading but don't really trade and those who sway newbies into the wrong side of trade. He hasn't asked opinions about what is wrong with him, and I'm sure he understands his mistakes and cares about his money more than we do about his. I think this is a good initiative.
Cheers.

Yes, Oxy, agreed. In fact I was going to congratulate him on this but just left it like that.

Regards,

s

s

Indianzz · #25 9th October 2007, 06:28 PM

Quote:

Originally Posted by sunil saranjame

Hi Indianzz,

Please take my post in a lighter way, and on the other hand I admire you for being true and honestly putting your trades.

Wish you all the best.

s

s

don't bother by that man,
i rarely lie, coz once my dad told me lying never really achieves anything, but it alwyays tarnishes your credibilty and reputation, you can be a billionaire, but you will still be a liar.
to poor and a liar is tragedy, to be a billionaire and a liar is insanity!
i say when i made money and i say when i lost it, i say when i got greedy and i say when i played it safe, what's the point of lying, noone can take my money from me right

the purpose of posting all the trades is to know what the hell i am doing wrong, and to tell the people about it, and ask for their opinions, the learned men! (

)

second all this technical stuff which nooone understands ( at least not me) like fibonacchi, technical and stuff which claims to be back tested! ( back tested = something which happened in history !)

but markets behave in ways which always MAKES new history, and almost never goes through same history, if that were the case every trader would have been a millionaire by now! ! lolz

anyways i have madea simple rules of making money in stock market.
kinda explaining market completely you know.

imagine stock market like a shop in which you buy stuff ( shares) and sell it, it's yoru choice at teh rate which you buy and your choice at which you sell it.
in the morning ( or whenever you trade) you buy shares from a dealer ( your broker/market in this case). he charges your delivery ( brokerage) then u wait for the customers and chosse ok whatever profit you want to take, in case teh buyer( market rate) is smaller, i.e. lower than your buy price, your choose if you wnat to sell ir or not, but in case the buyer want to pay more( market price) you choose if you wnat to sell it or not . i.e. if the profit you are making is sufficient to pay the dealer his delivery charges( brokerage) + teh amout whichever you think is enough for you.

dealer always takes money in the evening.

so if the price is lower than your buy price you are left with 2 options

1. sell it at a loss, recover whatever you can, pay back dealer + loss you made because you HAD to sell.

2. you don't sell it, and rather keep the shares and pay back dealer your OWN money ( take delivery)

so in scenario 1, you will win 60% times, and lose 40 % times, but teh loss will ALWAYS be greater than your profit.

in scenario 3 you NEVER Lose. well at least not until you HAVE to sell.

bu ti would recomment one thing, trade in nifty class 1 shares only. why : coz no matter what price you buy you are bound so soon recover in. but in case of penny stocks: you just can't recover it, it just dosent' move u know. and after a day or a wekk or month or a year, you WILL sell it out of frustrations saying ke yaar chalta hi nahin, let's sell it. moreever even if they do recover, it's a rare possibility that you would have enough buyers for teh shares!!!!

anyways, it's just my brain, that explains stock market to me. don't know if its' any good or not, hoping to hear from seniors soon

Regards

IndianZZ

oxusmorouz · #26 9th October 2007, 06:46 PM

Quote:

Originally Posted by Indianzz

don't bother by that man,
the purpose of posting all the trades is to know what the hell i am doing wrong, and to tell the people about it, and ask for their opinions, the learned men! (

)

Would you enter a battle if you are handicap, unprepared, and using out dated weapons like stones and sticks when your enemy is using guns, is technologically advanced, stronger and smarter than you are?

Indianzz · #27 9th October 2007, 06:51 PM

Quote:

Originally Posted by oxusmorouz

Would you enter a battle if you are handicap, unprepared, and using out dated weapons like stones and sticks when your enemy is using guns, is technologically advanced, stronger and smarter than you are?

well no matter what i say it's gonna be turning in a flame wars so i would not say anything to you personally oxusmorouz

but i would jsut say this , i never understood it, and market always always has a habit of swaying teh mind of an invester.
you would sya tha tif you follow a plan and trade accordingly you would win.
and i would say people take decisions emotionally and end up justifying it logically.

and i never challenge the crowd, betting agains the crowd is useless, no matter what the solution, fools and majority always prevailed!

i dont' deal with how world " should " work,
i do it according to how it WORKS.
there is a huge difference.

i hope you would not take it personally, this is not intended for anyone.

merely a clarification for everyone.

and how come if the technical analysis is so perfect or profitable, i never found one trader in worlds top 1000 rich men, ( you would give ex of warren buffet, but remember is a billionaire because of 2 reason he owns much be berkshire hathaway : he SOLD THE SHARES) and second he had an advantage of about 45 years of me!) so i would not deal with a chance!

Regards
IndianZZ

oxusmorouz · #28 9th October 2007, 06:59 PM

Indianzz, it is perfectly understandable. Allow me to repost a couple of passages (Credit to CV for giving the link).

Quote:

The Medical Education Model

I’ve been talking, from time-to-time, about the education of medical students. I feel that this is an excellent model for the education of the trader, as well. Medical students do not read a textbook or attend a seminar over the weekend and then start operating on patients! The stakes are high and we understand that we need thorough preparation. Indeed, many of us are fearful, perhaps even reluctant as we start to “practice medicine for real.” The student undertakes a long course of study on the basics of anatomy, physiology, pharmacology, and clinical disease states. Only when he has a solid knowledge of the basics, is he or she ready to start seeing patients.

Now, he is not dealing with textbook situations. He is dealing with real people and with all the variability that human individuals can offer us. Each patient encounter is an uncertain one and the results of our interviews and examinations are rigorously critiqued by more experienced physicians. If there is any deficiency in our history-taking or examination skills, they are addressed immediately. The experienced practitioner then demonstrates the correct history-taking procedure and what physical findings that the student missed or misinterpreted.

At the next stage, the student starts to formulate diagnoses and the treatment plans associated with each of the possible diagnoses. If there are five possible diagnoses, then the student must come up with five different treatment plans. This includes what he or she will do to work up the diagnostic possibilities; how he will confirm or deny each possibility; and what therapeutic regimen he or she will prescribe for each of those diagnostic possibilities.

This is where the student’s thinking, analysis, and reasoning skills are exposed. If there are deficiencies, these are corrected and then honed, hopefully to razor sharpness. The best medical educators do this in a supportive way. We don’t shout at or belittle the students, as they do in “House,” “E.R” or “Scrubs.” Those shows are caricatures of medical education.

Now notice that the student starts with a solid foundation of basic knowledge, moves on to monitored patient encounters where textbook diseases are confounded by patient variability and differing abilities or willingness to comply with treatments, and their thinking skills are constantly monitored and immediately addressed.

Now contrast this with the average trader. Does this begin to suggest why 90% or more of novice traders fail?

oxusmorouz · #29 9th October 2007, 07:00 PM

Quote:

Inductive vs. Deductive Reasoning

“It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit our theories, instead of theories to suit facts.” Sherlock Holmes

Here, the title suggests that there is a duality, a discreet difference between the two reasoning styles. And, as defined, there is. But while we tend to favor one reasoning style over the other, there is a continuum along which these two styles exist.

Inductive reasoning is defined as reasoning from the specific to the general. In science, we gather many observations in order to form a hypothesis, a general law, which can then be tested. Deductive reasoning, on the other hand, argues from the general to the specific. We start with a general law or principle, and test whether specific observations support that law. Or, we form a hypothesis and then accrue observations to support or reject the hypothesis.

Sherlock Holmes was supposedly the master of deduction. Let’s see how his crime solving actually worked out. To start, he had an extensive knowledge of crime and criminal behavior – a database, if you will. Then he would gather evidence to see if it supported the working hypothesis of the local police or of Scotland Yard. Usually, it would not. He continued to gather evidence until the weight of evidence, combined with his knowledge, his database, would support a new hypothesis, his solution of the crime. Rarely, it would not and he would have to start over. Now, he would use the evidence that he had gathered and the process of inductive reasoning to generate a new hypothesis. The quote with which I started this post shows that Sherlock Holmes, the master of deduction, was equally well grounded in inductive reasoning (perhaps even more so.) See why I say that the two reasoning styles exist along a continuum?

Now, when you think about it, isn’t that what we, as traders, have to do? We start with a general principle, our trading methodology, and see if the data (the course of the market move) supports our belief that we have properly interpreted the likely course of that market move. If it does, our belief in our trading methodology is vindicated. If it does not, then we must revise our thoughts.

If our thoughts include the concept that no trading methodology is 100% accurate, then we can accept the fact that the market can fail to confirm our trade hypothesis. (See Cognitive Dissonance, Part 3) But if the market fails to confirm our expectations too often, then we can use those observations to try to generate a new hypothesis. This is what traders have to do when the market changes its character, as it did in 2004. That was when thousands of traders in ES, the mini S&P, found that their trade set-ups no longer worked; when ES no longer became a good instrument to trade.

It takes time to accumulate these observations and then, if necessary, to formulate a new hypothesis. Nevertheless, it is what we must do on an ongoing basis. We must learn to constantly see if our observations match up with our working models of the market.

I hope this helped.

Indianzz · #30 9th October 2007, 07:22 PM

it definately helps omaxe!
and i guess you point has been taken , i hope you would take mine : when u are sitting on a terminal trading and you see so many numbers go up no matter what the softare or data says ,people jump in! saying that market will continue to go up! and that's what i am talking about......

P.S. and with this i hope we would close this point of discussion coz we will only end up arguing over something which has no solution and no right or wrongs... as simple as that! lolz
Regards
IndianZZ

View Poll Results: do you wnat me to keep posting my trades
yes	71	89.87%
no	3	3.80%
maybe, depends on the trade	5	6.33%
Multiple Choice Poll. Voters: 79. You may not vote on this poll