Day trading a boon
- Thread starter kailash chaturvedi
- Start date
Hi KC,
I am not a day trader, but do watch intraday movements very closely. When it comes to trending or trading markets, I have myself been unable to recognize it on a real time basis. Other traders with whom I have interacted are also having the similar experience. By the time you realize that the market is in a trading range, "you have already been severely whipsawed", and by the time you realize that its a trending movement, "half of the trend is already over" and may be already coming to an end. The words in quotes are not my own, but that of experienced intraday traders like Pride. Linkon also has similar experience. He has even gone to the extent to saying to the effect that "Trend followers end up trend chasers". So is the answer to the question "trending or trading?" really so simple on a real time basis.
It is easy to postulate rules but when it comes to real time trading, I do not think these rules will be of much use. The rules assume that "once a trade goes southward" it will finally crash into the ground. The trader may be merely caught in a downward retracement of a up trending market.
As far as strict stop losses go, again the assumption is that triggering of the stop loss ends all possibilities of the trade becoming unprofitable. There are numerous occasions on which the price has moved against you only to eat your stop loss and force you to cover at the last tick against you.
Also, are you an trader or a "tutor" of day trading?
I am not a day trader, but do watch intraday movements very closely. When it comes to trending or trading markets, I have myself been unable to recognize it on a real time basis. Other traders with whom I have interacted are also having the similar experience. By the time you realize that the market is in a trading range, "you have already been severely whipsawed", and by the time you realize that its a trending movement, "half of the trend is already over" and may be already coming to an end. The words in quotes are not my own, but that of experienced intraday traders like Pride. Linkon also has similar experience. He has even gone to the extent to saying to the effect that "Trend followers end up trend chasers". So is the answer to the question "trending or trading?" really so simple on a real time basis.
It is easy to postulate rules but when it comes to real time trading, I do not think these rules will be of much use. The rules assume that "once a trade goes southward" it will finally crash into the ground. The trader may be merely caught in a downward retracement of a up trending market.
As far as strict stop losses go, again the assumption is that triggering of the stop loss ends all possibilities of the trade becoming unprofitable. There are numerous occasions on which the price has moved against you only to eat your stop loss and force you to cover at the last tick against you.
Also, are you an trader or a "tutor" of day trading?
@kailash chaturvedi
10.) You dont need much to get started In fact, there are only six things that you will need:
a.) A computer
b.) An Internet connection
c.) A charting software if u are familiar to it
d.) A demat acct
e.) A properly funded trading account
f.) A good trading strategy
g) A TV and Cell Phone
h) must familiar with technical analysis
Many things to be added to ur list and now u can realize that our forum members are quite aware of them, but one thing I want to assure u
A TIPS PROVIDER certainly excluded from that list.
@ anuragmunjal
a real eye opener indeed, didnt know it was so easy 2 become so wealthy.
btw what is ur proffession,sir?
To keep ur open eye more open just visit his thread How the Market Works U will get answer of ur question.
For our all forum members, I request all(particularly new bees) not to give 2 much emphasis on such light tutorial .Here, we have many real gems to learn.A day trader is faced with an almost impossible task.Never expect make ur fortune ,It is only a heard earned living at its best
10.) You dont need much to get started In fact, there are only six things that you will need:
a.) A computer
b.) An Internet connection
c.) A charting software if u are familiar to it
d.) A demat acct
e.) A properly funded trading account
f.) A good trading strategy
g) A TV and Cell Phone
h) must familiar with technical analysis
Many things to be added to ur list and now u can realize that our forum members are quite aware of them, but one thing I want to assure u
A TIPS PROVIDER certainly excluded from that list.
@ anuragmunjala real eye opener indeed, didnt know it was so easy 2 become so wealthy.
btw what is ur proffession,sir?
To keep ur open eye more open just visit his thread How the Market Works U will get answer of ur question.
For our all forum members, I request all(particularly new bees) not to give 2 much emphasis on such light tutorial .Here, we have many real gems to learn.A day trader is faced with an almost impossible task.Never expect make ur fortune ,It is only a heard earned living at its best
Dear Mr. chaturvedi/greencandle
If u had taken the time to check , u would have found that I have not provided a single tip in this whole forum. my agenda is very simple I do not like people who try 2 teach newbees that daytrading is a very simple way 2 earn money & fleece them fr their personal profits. if day trading was indeed so simple & profitable, u would not b wasting ur time here trying 2 woo unsuspecting newcomers, but quitely daytrading sitting somewhere in the swiss alps.
regards
Anurag
If u had taken the time to check , u would have found that I have not provided a single tip in this whole forum. my agenda is very simple I do not like people who try 2 teach newbees that daytrading is a very simple way 2 earn money & fleece them fr their personal profits. if day trading was indeed so simple & profitable, u would not b wasting ur time here trying 2 woo unsuspecting newcomers, but quitely daytrading sitting somewhere in the swiss alps.
regards
Anurag
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