i lost money in intraday trade for the past two days

[lethalstriker]

I just started trading a few days back. I use HDFCSecurities.com to trade. Initially I started with very small amount but then since minimum transaction fee is Rs 25 which adds up to Rs 40/- including securities transaction tax , I decided to increase my amount. For first few days I was making regularly 2000-3000 rupees everyday and I thought I had found a way of alternate income but then the lightning struck and I lost quite a few amount of money so I learnt my lessons:
1. Control greed. This is the most evil virtue and needs to be controlled.
2. Don't trade everyday. Its surely a recipe of disaster. You can't be lucky everyday.
3. Learn..learn...learn...a sound fundamental knowledge of market is very necessary.
4. Maintain a buy position in those shares where even if the selling strategy fails you can buy them at the end of day.
5. Invest in education and don't panic. I am willing to undergo a technical analysis course. Someone has any idea if there is any online course for it. Its better to invest money into education rather than lost it in the market.
6. Happy trading:clap:

 

[stock72]

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.

Please switch to positional ...there is no such thing called intraday exists

 

[ananths]

Please switch to positional ...there is no such thing called intraday exists

Hi Stock72,

For beginners, I think its not easy...you have lot of experience and you have TOTA system..:lol:

It would be great help for beginners if you can put some light on how to face difficult situations and hedge the position to carry the positional trades...because without hedging in a gap up/down beginner may lose entire capital and it would take time to recover...

Can you give few tips from your TOTA system :thumb:

 

[Smart_trade]

I just started trading a few days back. I use HDFCSecurities.com to trade. Initially I started with very small amount but then since minimum transaction fee is Rs 25 which adds up to Rs 40/- including securities transaction tax , I decided to increase my amount. For first few days I was making regularly 2000-3000 rupees everyday and I thought I had found a way of alternate income but then the lightning struck and I lost quite a few amount of money so I learnt my lessons:
1. Control greed. This is the most evil virtue and needs to be controlled.
2. Don't trade everyday. Its surely a recipe of disaster. You can't be lucky everyday.
3. Learn..learn...learn...a sound fundamental knowledge of market is very necessary.
4. Maintain a buy position in those shares where even if the selling strategy fails you can buy them at the end of day.
5. Invest in education and don't panic. I am willing to undergo a technical analysis course. Someone has any idea if there is any online course for it. Its better to invest money into education rather than lost it in the market.
6. Happy trading:clap:

Title of the thread is you lost money in last 2 days. There is no reason for loosing money in last 2 days in daytrading ......so you are doing something wrong. You have to find out what is that.

Without understanding what is going wrong, just shifting to swing or position trading is no escape and no recipie for success.

You need to do a honest analysis of what is going wrong. The points you mentioned above are general points. There could be something beyond these. Do your own analysis.

Smart_trade

 

[stock72]

Hi Stock72,

For beginners, I think its not easy...you have lot of experience and you have TOTA system..:lol:

It would be great help for beginners if you can put some light on how to face difficult situations and hedge the position to carry the positional trades...because without hedging in a gap up/down beginner may lose entire capital and it would take time to recover...

Can you give few tips from your TOTA system :thumb:

Yes .. The first and important tip is switching to positional

 

[narayan78]

stock72 bhai,

oky I want to to do positional trade how to do that.

min cash required , risking how much , entry and exit Example -- with a chart.

give me a procedural answer understood by a lay man.

( because I don't want to say Shabbbaaa ippave kanna kattuthe )

note:- It's not a joke, I want to learn seriously

with cheers,
narayan.

 

[stock72]

stock72 bhai,

oky I want to to do positional trade how to do that.

min cash required , risking how much , entry and exit Example -- with a chart.

give me a procedural answer understood by a lay man.

( because I don't want to say Shabbbaaa ippave kanna kattuthe )

note:- It's not a joke, I want to learn seriously

with cheers,
narayan.

Welcome . Before that why don't u join the 90 day challenge ?

 

[narayan78]

oky ready for the challenge :thumb: ,

so positional basics will be taught there.

with cheers,
narayan.

 

[stock72]

oky ready for the challenge :thumb: ,

so positional basics will be taught there.

with cheers,
narayan.

If am correct after 90 days I guess the system will be known automatically

 

[narayan78]