Bless me to become a day trader!

luckyblr · #11 11th February 2008, 10:57 PM

.. that is what happenin now.. me just thinkin of sellin all my stocks and be on cash..

But i think i will adopt ur strategy.. try to buy on 52 week low and try to avg. and then hold them long so that i can atleast recover my capital

fast_rizwaan · #12 11th February 2008, 10:58 PM

Quote:

Originally Posted by luckyblr

Bhai.. one more advice pls

Can you pls tell me shall i sell off all my shares now.. which i am holding since nov.. All the shares value has depreciated by 50%. What is ur suggestion. Shall i hold on to them.. till the markets recover and sell them laterz.. or shall i sell them and start intra day like u.

Don't do it! It's how markets work.. they increase the market price to 52weeks high and make it decrease to 52weeks low. in next 52weeks you'll have your price.

though averaging is considered bad.. but it can be beneficial.. wait for 52weeks low of your shares and even more wait for 10% more downside.. then average it. try to bring your prices under 52weeks average.

Example:
ttml -
52weeks high = 64.95
52weeks low = 19
52weeks average = 41.975

and you've already seen ttml came down to 30 then went back to 43. likewise nagarfert.. ispat..

But averaging in day-trading is dangerous.

like i did it with Hydrbadind - bought at 240 it fell down to 155, i bought more and made averaged it to 175 - it went to 235 in just 1 month.

the market manipulators wants you to buy high and sell low. they'll not let you have your price.. they'll bring prices close to your buying but not upto that point. in pain you'll sell at a huge loss.

i did this averaging with at least 20 scrips successfully as an investor.

it worked for me.. so i'm saying.. i'm not telling that this is the only way to go.

fast_rizwaan · #13 11th February 2008, 10:58 PM

Quote:

Originally Posted by CreditViolet

Talking realistically is not much appreciated here in the forums but those above lines were pure nonsense. There are no internal problems, just lack of enough hard work. There is a price to pay for economic success and most people only try make a buck off someone else's hard, dangerous work.

hi CV, what's the price one needs to pay for economic success?

fast_rizwaan · #14 11th February 2008, 11:32 PM

cv, i mistakenly posted my intro in Beginner's guide. I was reading traderji's guidelines for intro and thought that i'm in introduction section and posted there.

please move this into introduction section. thanks.

hari09omkar · #15 11th February 2008, 11:49 PM

Quote:

Originally Posted by fast_rizwaan

hi CV, what's the price one needs to pay for economic success?

Two things in combination: losing trades and relentless unrest mind resulting out of that,which doesn't give up to solve the puzzle.

Saint · #16 13th February 2008, 11:58 AM

Quote:

Originally Posted by hari09omkar

....................unrest mind resulting out of that,which doesn't give up to solve the puzzle.

Spoken like a true Chess player...

Saint

hari09omkar · #17 13th February 2008, 12:19 PM

Quote:

Originally Posted by Saint

Spoken like a true Chess player...

Saint

Identified the symptom like a true doctor,Sir...

Saint · #18 13th February 2008, 12:21 PM

Quote:

Originally Posted by hari09omkar

Identified the symptom like a true doctor,Sir...

sanx · #19 13th February 2008, 01:47 PM

fast_rizwaan , do you do trading full time or is along with your regular job ?
BTW best of luck . Such kind of threads are interesting .Gets subscribed instantly

.

lvgandhi · #20 13th February 2008, 03:50 PM

Quote:

Originally Posted by fast_rizwaan

It was fine till i did ATST/Swing trading to have Instatrade (java applet based)

But for day trading.. a difference of millisecond can make loss or profit.

so, i traded with Religare's dietodin client. good.. so i applied for RACE pro account with powertrade software platform.

Still, no matter how fast your platform is.. one needs to overcome the fear and greed and have sound money management systems and stoploss.

powertrade has more advanced features, i think.. like charts etc.. i hope that will help me in day trading..

What is power trade in religare? Are you talking of racepro from their site or something new? From where to get power trade?