I am losing more than i earn!!! Why? Plz help me!!!

Hello traders, i started intraday trading last week. I made a profit of Rs.1929 and after paying the brokerage i was left with Rs.516. But from the next day onwards i started losing.I am on the verge of exhausting my trading margin. This is what happens with me.

As soon as i enter the trade the price moves in the opposite direction. If i buy, the price falls and if i sell the price rises. If i exit early i just miss some big move in my favour and if i hold a little longer i sustain big losses.

My chart setup is as follows:
MA(10,20)
Slow Stochastic (5,3,3)
Volume

I prefer trading on 3 min chart.I trade in the direction of trend and in the direction of the market. I choose high volume and high price stocks (usually >1500).

All you experianced traders please help me. Is my setup wrong or is there some fault with my trading psychology. I am very passioned about trading. Please help me!!!!!!

Your trades are emotive. There is nothing to comment about your trading system. Successful trading career is not that simple but that does not mean that it is impossible.

When you think of "profit" and "loss", when you equate your trades to money, then, you have to have some basic emotions as we are human.

Check if you have a back tested system?
Do you have a plan?
What is your money management rules?

If above three or OK, then the problem is certainly with your attitude that you want push profits out of market.

Do not fear; do not hurry to make money.

Basically, if you trade for money, not only you, every one is suppose to lose our fortune. Trading is a lot about being disciplined.

First of all, for what you want to trade? We unknowingly trade for entertainment, ego or something. It happens to every one of us at some point of our life.

IMO, what pain you are experiencing is quite natural. Have the courage to face your own-self.

Happy Trading

Hope you have backtested your strategy /rules based on which u are taking trades.
If you are not making money on historical data with your rules, then you can't expect them to make money going forward.

Try to understand your indicators better. Each Indicators works fine under certain market condition. There is no one single indicator that can decipher market movements at all times.
It is important to know when MA doesn't work and don't rely on MA in such situations.. Similarly, there are times when Stoch doesn't work.. It is important to understand when not to use
a particular indicator.

Happy Trading.

well you did mentioned that you started trading only recently but you never mentioned about the homework you have done....

As you can gauge from the previous replies that their are certain things you should be sure about (money management rules, technical analysis tools, market condition etc.) and overall the best thing you can do to improve your trading is a win over your emotions...bt trust me it is easier said then done...i am trying this for past6-7 months but only recently i can see getting a bit better on this part.

I would suggest you to first go through the thread in this forum by Saint..the thread titles : Teach a man to fish...its a wonderful thread.

keep learning as much as you can...i am suggesting you this because i know that when you have grasped sufficient knowledge relating to trading...you will know the reason for your entries and exits....and in the end you would have also figured out that what works best for you....

1.Never enter a trade before 11 o'clock.
2.Patience is the KEY to many profitable trades.