diary of a day trader

[TraderRavi]

Hi friends,

Just completed one month doing online day trading....after many beginners mistakes (done every mistake possible.?? o my god ! many left...)...now I am switching to range trading.(from 19th march) ...see what happens..

starting capital = 80k..(total poured till ....= 200K)

ledger balance = 38k (19th mar)

 

[TraderRavi]

16th March AUCTION DAY

major loss due to delivery shortage of 340 Educomp shares.

SHORT SELL 340 @ 720.75.

Auction buying 340 @ 755.86.

total loss = 11940.

brokerage = 1225 (sell side @ 0.5%) + 2570 (auction buy @ 1%) = 3775.

other charges = 466 + 478 = 944.

net loss = 16660.

note : no no to delivery shortage .

 

[TraderRavi]

17th march

booked Loss = 1607

net loss (after brokerage + charges) = 2014.

again made mistakes.

 

[TraderRavi]

18th march

booked loss = 766.

net loss = 1256.

not much mistakes today ...losses are due to stop loss hit...stop loss hit @ 757 when there is no thus point on graph...bad luck...may be just one dip...that was only low point of the day..lower stop loss may have worked because prices were up all the time..

 

[TraderRavi]

19th march

ledger balance is shrinking @ more speed than himalyan glaciers... I will start RANGE trading from today ..may be small profits but ok....will try to build ledger from small profits...

booked profits = 734

net profit = 430

ledger balance = 38 k

missed two beautiful entry points due to power cuts..but no problem...i m learning...

at least some positives..on first day of range trading...

when will i learn technical analysis..? may be 6months or more..time..with free softwares...paid softwares can come later. :clap:

 

[TraderRavi]

brokerage

I just calculated ....
total brokerage (in my 20 trading days upto 19th march) = 13840...its huge

other charges = 5150

total = 19000

my loss till now = 41500

charges % in total loss = 45%..

45% of my total loss is due to these high charges....

I am earning for them not for myself..thats why stock market kings are only brokers...

a recent survey in US says 70% traders make losses, 18% break even and only 12% make profits.....i want to be in that 30% bracket.. currently i m in those 70%...

 

[rohanr_b]

i would really appreciate if you post your buy & sell price along with your Sl. And why do you keep playing with educomp when there are lots of fish in the sea?

 

[GREENCANDLE]

If you asking for help pls post your strategy some dtls with chart to do postmortem where is the wrong .Here we have many expert surgeons (indeed I m nt among them) to recover us from coma .It seems that there is something serious wrong with u. Perhaps you need solid money management .Pls ref to my poshttp://www.traderji.com/day-trading/38954-does-day-trading-give-large-profit-2.html#post419057 not to solve your pblm but to see another one at the same boat. :console:

 

[prst]

what is meant by "Range Trading" ..
can anyone give a brief idea?

 

[TraderRavi]

what is meant by "Range Trading" ..
can anyone give a brief idea?

RANGE trading is buying at the bottom of wave and selling at the top or near top....and like this continuosly...u must have seen many waves in any intraday graph ...profits are small...but buy - sell.....buy- sell...u dont wait for whole day to earn profits...