From past few days i jhave started intraday trading.
I try to trade for 25000 rupees and go for 100-200 rupees profit per trade day and once i get it .I exit that stock and cohose it again after seeing buy-sell numbers.
But my last trade have gone totally wrong.I shorted ganesh jewelery in last session and first made approximately 300 buks in a day.Just to try luck again i again shorted since number of sellers were 70000 compare to 61000 share buy orders.
But all of a sudden trade went wrong.Chart changed to 70000 shares buy with 30000 sell ordes in few seconds.As i was confident again that price will come down i avoided a stop-loss(my blunder).And finally ended a day with 1700 rupees loss as the stock went 6 rupees high before square off.
Anyways i know my mistake was i avoided my downside.
But problem is i get confuse in keeping 2 orders as i am preety new and some time make mistake while deciding trigger or already my trade have gone to exchange and than i try to modify my trade and keeping trigger which doesnt take place at all.
Now there is some new function called cover orders in hdfcsec.But i am unable to decide or understand since one order has to be at market price.
I dont want to force a trade anyday.
Say shares of shree ganesh jewel is 3 rupees above previous close of 90 and i want to place sell order at 95 and ill cover it once it reach 94 .
But in cover order i see first order is at trading market price.Is that true?Or am i missing something.
That way it looks to force a trade.
I try to trade for 25000 rupees and go for 100-200 rupees profit per trade day and once i get it .I exit that stock and cohose it again after seeing buy-sell numbers.
But my last trade have gone totally wrong.I shorted ganesh jewelery in last session and first made approximately 300 buks in a day.Just to try luck again i again shorted since number of sellers were 70000 compare to 61000 share buy orders.
But all of a sudden trade went wrong.Chart changed to 70000 shares buy with 30000 sell ordes in few seconds.As i was confident again that price will come down i avoided a stop-loss(my blunder).And finally ended a day with 1700 rupees loss as the stock went 6 rupees high before square off.
Anyways i know my mistake was i avoided my downside.
But problem is i get confuse in keeping 2 orders as i am preety new and some time make mistake while deciding trigger or already my trade have gone to exchange and than i try to modify my trade and keeping trigger which doesnt take place at all.
Now there is some new function called cover orders in hdfcsec.But i am unable to decide or understand since one order has to be at market price.
I dont want to force a trade anyday.
Say shares of shree ganesh jewel is 3 rupees above previous close of 90 and i want to place sell order at 95 and ill cover it once it reach 94 .
But in cover order i see first order is at trading market price.Is that true?Or am i missing something.
That way it looks to force a trade.
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