There are a few companies in Delhi, Thane, Ahmedabad who give daily day-trade tips for a monthly charge. They claim success everyday. They take the lowest and highest ends the stock touched and claim profits accrued on their advice. I subscribed to one of these and got taken for a ride. Didn't make any money at all.
I just follow what I see and mostly scalp, not waiting for large changes unless the movement is steadily up or down, like todays RIL. Every visit gets me about 0.3 to 0.7% return on the money I put in. This visit lasts about an hour. No extra time. What I need must happen within an hour. If not, bad luck. I repeat this 4 times a day. On an average I make about 1.5 to 2.5% a day. Oh no! not everyday. On a bad day I lose almost 5% or 3days earnings. By sticking to 2/3 shares at a time one can concentrate on the price movements very well. You can even predict where side will go up or down; mostly I am right, but not always. The last hour is very important, this will make or mar your day. The last visit goes to 15 mins of last hour and if going is good I end at 3.20pm giving me time to look at dys events.At the end of each visit make sure you go thru your transactions and see they are not incomplete. Check the qty and the exchange NSE/BSE. Last week I shortsold in BSE and bought in NSE. So it went for Auction in BSE.
Earlier I used to target 10 company stocks and lose track; some time end up not settling the short sales and paid penalty thru Auction.
Here people talk about trailing stop loss, book profits and proceed etc. Can't understand what is trailing profit. I keep notional stoploss after which losses will not be affordable to me say about 2% away from my entry price. I donot understand any of the charts people talk about here nor follow what they write. They will laugh and say I have no method but am just groping in the dark. What ultimately matters is whether you make money or not.
I have no one to guide. Didn't see any guidance in the posts too. Will some of you get together and teach thru posts? We will all be grateful.
One needs lady luck to be at your side too.
vps
I just follow what I see and mostly scalp, not waiting for large changes unless the movement is steadily up or down, like todays RIL. Every visit gets me about 0.3 to 0.7% return on the money I put in. This visit lasts about an hour. No extra time. What I need must happen within an hour. If not, bad luck. I repeat this 4 times a day. On an average I make about 1.5 to 2.5% a day. Oh no! not everyday. On a bad day I lose almost 5% or 3days earnings. By sticking to 2/3 shares at a time one can concentrate on the price movements very well. You can even predict where side will go up or down; mostly I am right, but not always. The last hour is very important, this will make or mar your day. The last visit goes to 15 mins of last hour and if going is good I end at 3.20pm giving me time to look at dys events.At the end of each visit make sure you go thru your transactions and see they are not incomplete. Check the qty and the exchange NSE/BSE. Last week I shortsold in BSE and bought in NSE. So it went for Auction in BSE.
Earlier I used to target 10 company stocks and lose track; some time end up not settling the short sales and paid penalty thru Auction.
Here people talk about trailing stop loss, book profits and proceed etc. Can't understand what is trailing profit. I keep notional stoploss after which losses will not be affordable to me say about 2% away from my entry price. I donot understand any of the charts people talk about here nor follow what they write. They will laugh and say I have no method but am just groping in the dark. What ultimately matters is whether you make money or not.
I have no one to guide. Didn't see any guidance in the posts too. Will some of you get together and teach thru posts? We will all be grateful.
One needs lady luck to be at your side too.
vps
