Day Trading in Equity for living

[stock_mani]

My doubts below in RED UPPER case

Trade only in high beta & high volume stocks
PLEASE EXPLAIN HIGH BETA AND HOW TO IDENTIFY THEM ? ( High beta means which stock moves more then index- generally realty, metal, aviation, high volume midcap stocks are prefer for day trade)
2. I study above 20 stocks regularly to trade on next day (EOD)
IF YOU DONT MIND CAN YOU SHARE WHICH ARE THESE ! (20 stocks are not fixed but i filter high movement stocks in history which can give large one side movement in intraday)
3. Entry points are finalized by CCI & with my experience ( i read price pattern ), when i get signal for entry i get into trade.
THERE IS NO REPLACEMENT FOR EXPERIENCE. WE WILL CATCH UP WITH YOU ON THAT SOON. !
4. Try to keep SL below 1% of my cost.
EXPLAIN HOW YOU CALCULATE YOUR COST (for safety point of view i put both buy and sl/ or short and sl order on same time, as many time i saw that stock movement is very fast on both side due to any big news, this save me from big loss, also keep trailing stop loss from 1- 5 % (depends on movement and as per my view ). suppose If stock is gaining 10% in a day then there is no use to keep sl below 1% of last price as it will hit frequently.
5. Important thing to remember trailing stop loss to lock some profits if trade is going in my direction.
IS IT MANUAL OR YOU PUT THE STOP ALONG WITH THE ORDER (sl order place simultaneously with main order)

 

[pannet1]

Trade only in high beta & high volume stocks
PLEASE EXPLAIN HIGH BETA AND HOW TO IDENTIFY THEM ? ( High beta means which stock moves more then index- generally realty, metal, aviation, high volume midcap stocks are prefer for day trade)
2. I study above 20 stocks regularly to trade on next day (EOD)
IF YOU DONT MIND CAN YOU SHARE WHICH ARE THESE ! (20 stocks are not fixed but i filter high movement stocks in history which can give large one side movement in intraday)
3. Entry points are finalized by CCI & with my experience ( i read price pattern ), when i get signal for entry i get into trade.
THERE IS NO REPLACEMENT FOR EXPERIENCE. WE WILL CATCH UP WITH YOU ON THAT SOON. !
4. Try to keep SL below 1% of my cost.
EXPLAIN HOW YOU CALCULATE YOUR COST (for safety point of view i put both buy and sl/ or short and sl order on same time, as many time i saw that stock movement is very fast on both side due to any big news, this save me from big loss, also keep trailing stop loss from 1- 5 % (depends on movement and as per my view ). suppose If stock is gaining 10% in a day then there is no use to keep sl below 1% of last price as it will hit frequently.
5. Important thing to remember trailing stop loss to lock some profits if trade is going in my direction.
IS IT MANUAL OR YOU PUT THE STOP ALONG WITH THE ORDER (sl order place simultaneously with main order)

hi mani,

thanks for the reply. however point 4) on SL is not clear. Can you explain it with Mangalore Refinery example.

 

[stock_mani]

hi mani,

thanks for the reply. however point 4) on SL is not clear. Can you explain it with Mangalore Refinery example.

for trailing SL you need to check last big candle (swing) % wise, as in big moves big candle creates. Place SL according to difference of big candle high and low & place last high/ low candle price. if last big candle high & low difference is 2% then place trailing SL @ 2% below/ above on last price. if next big candle creates in next swing (after price exhaust for some time ) then consider high & low for that.

 

[stock_mani]

today SL triggered in nalco @ 64.80. again place buy order at 65.75. already long in vedanta at 267.7 with trailing sl at 265.65...

 

[stock_mani]

placed sell order in nalco at 64.4 (buy order still pending)

 

[stock_mani]

work like a robot & do trading emotionless, market will do what it wants to do. It does not know about your position & have no mercy .....

 

[stock_mani]

keep protect loss/ profit with trailing sl frequently as nobody know that when it turns opposite & so fast...

 

[stock_mani]

vedanta trailing sl at 266.7

 

[stock_mani]

buy aban at 236

 

[stock_mani]

the tough part of trading to keep emotion in control.... when position is going as per your view/ direction & you see profit then you would want to book quickly. It is very tough to ride on a position till eod : ) it can achieve after hard practice...