Re: Bless me become a day trader!
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.