i lost money in intraday trade for the past two days

#1
hi to all
i am new to intraday trade. though i am concentrating in support and resistant level i couldnt make money in intraday trade. i lost 10,000 in the past two days. i felt its very difficult to identify buy & sell point in intraday trade. pls help me to do successfull intraday trade. how can i select good stock during intraday trade? also pls suggest me good intraday tips giving website. or tell me how can i predict stocks for trading by myself.
is it possible to predict correct buy & sell point by ourself ? if so what is the method? pls answer for my questions.
 

Placebo

Well-Known Member
#2
Hi Raj..First of all its not unusual to lose money in intra-day markets. To begin with lets forget buying and selling for the time being. The most important thing to develop a system on is Money Management. Out of the total initial outlay invested in intra-day trades , how much are you willing to lose on a daily basis ? This will give you an idea of the risk tolerance level and also help you determine how quickly the account will come down to Nil if you lose everyday on a consistent basis. Unfortunately i dont think anyone will be able to help you with precise buying/selling points. The only thing i can suggest is read as many journals/books on Capital Markets and how money was made by old-timers. I follow Volume Spread Analysis and base my decisions on that. I am fortunate enough to get my trading lessons from Gavin Holmes (CEO of Tradeguider Systems)
 
#3
Actually i also started with Day trading and made few profits but heavy losses, therefore i decided to stop it for sometime and concentrate on learning about charts. I am in that process right now, but for the time being shifted being a positional trader. i make profits now but with help of my dad. I am sure after some months i will be able to make small profits consistently. I am waiting for the markets to go down further before entering into trade.

Regards,
Sonal Shah
 

ntn

New Member
#4
Hi Raj,

Even i lost and also made profits. You need to develop mind for trading, your own method and money management. Please take the help of books, Traderji forum, and website. Due your own study.

I found book Trading for Living by Dr. Elder Alexander useful for mind development for trading.

Regards...
 
#5
hi raj,
don't get disappointed... you only lost 10000/- i had lost more than 2 lacs and there are people who have lost 8 to 10 lacs... So don't panic.. I stopped trading to find a solution for this. Now i am able to find one with the help of a great guy - Pride.. Just follow this link and please... please do paper trading and then invest and do trading ... Right now i am doing paper trading to be confident.

http://www.traderji.com/day-trading/...veryday-1.html
Good luck..
I will be there in this link everyday..
 

mayavi99

Well-Known Member
#6
hi to all
i am new to intraday trade. .................. felt its very difficult to identify buy & sell point in intraday trade. pls help me to do successfull intraday trade. ..........
Hi Raj,

have a look at this thread of Ramesh Sir. Perfect spoon feeding for you. This has helped me quite a lot. But a word of caution. Initially do some dummy paper trades on the basis of levels given here, till you understand the concepts fully and find yourself comfortable with the market levels.

http://www.traderji.com/futures/12708-future-stocks-nifty-trade-level-guidance-47.html#post325693
 
#7
hi raj,
don't get disappointed... you only lost 10000/- i had lost more than 2 lacs and there are people who have lost 8 to 10 lacs... So don't panic.. I stopped trading to find a solution for this. Now i am able to find one with the help of a great guy - Pride.. Just follow this link and please... please do paper trading and then invest and do trading ... Right now i am doing paper trading to be confident.

http://www.traderji.com/day-trading/...veryday-1.html
Good luck..
I will be there in this link everyday..
THIS LINK is not working please help me...
 
#9
its really very difficult to earn with day trading especially with peoples attituude.
above that if you transact for 90000 then you have to pay 90 rs commission
this will add to the loss and you lose heavily.think 1000 times before making single rupee transaction.
 
#10
Dear if you want to earn from stock market then you have to learn trading by paper trading for few months. You will get ample literature here in Traderji under learning section. Once you feel you have developed some sort of system for trading then only start actual trading.
 

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