Intial Steps - Log book

[adorn]

I am in touch with stock market from 2006. Mostly observe, lil invested, lil traded but never systematically involved in it. This is the first time I have decided to try it for an alternative income source.

Capital - 2.1 Lacs

Goal - Make 10k/MoM

Dos / Don'ts -
1. Do not use margin.
2. Only trade in stock.
3. Log every trade.
4. Only split my capital equally in 4 Scrip at a time. (After 20 days of trading I have learned)
5. Trading Plan ???? I have not yet decided particularly, mostly broad swing trade. data from some popular financial site. Strictly buy, short only if have holding.

 

[suri112000]

Broader plan would help.

Which stocks to trade. Whether long or short. Intraday or positional.
How many stocks to trade at a time.
If more than one stock to trade, what is capital allocation for each.
What is your risk tolerance per day, per week, per month.
Where you book your profits or losses.
Which time slots you prefer trading. whole day or specific timings.
Trading style...discretionary, technical or fundamental or news based.


Plan it in advance and execute your plan. Weigh your results at end of a week or a month.

 

[GMeyyl]

And Pleeeeeezzzzzz avoid HPDisordered people and their advice, dey lurk in forums/internet feeding on unsuspecting boarders/netizens presenting to u Re-Invented Wheels and/or copy paste contents as their own , all just to fulfill their silly crave to showoff.

When u find such an HPD , advice them back to get Help b4 it's too late.

 

[adorn]

Broader plan would help.

Which stocks to trade. Whether long or short. Intraday or positional.
How many stocks to trade at a time.
If more than one stock to trade, what is capital allocation for each.
What is your risk tolerance per day, per week, per month.
Where you book your profits or losses.
Which time slots you prefer trading. whole day or specific timings.
Trading style...discretionary, technical or fundamental or news based.


Plan it in advance and execute your plan. Weigh your results at end of a week or a month.

Thanks for your time and post.
I will be rather thankful If you can recommend some book or article regarding that and help me to find concrete answer of all this.

 

[adorn]

And Pleeeeeezzzzzz avoid HPDisordered people and their advice, dey lurk in forums/internet feeding on unsuspecting boarders/netizens presenting to u Re-Invented Wheels and/or copy paste contents as their own , all just to fulfill their silly crave to showoff.

When u find such an HPD , advice them back to get Help b4 it's too late.

Thank you for the suggestion. I will definitely follow this.
Start to trade was my decision and pick my stock too will be my decision.
In this process i like to gather some knowledge, I request all my senior and fellow trader ji to help me to gather some knowledge to enhance my trade practice.

 

[adorn]

I have started on 31st August 2016 with my first trade. Till date I have 6 Closed trade and 5 open trade.

Made Rs. 6624.31 (3.154%) from total close trade. [ 4 Profit and 2 Loss ]
=======================================================
I learned to execute trade in equal portion. ( Took note on Dos/ Don'ts )

All my Open trade are in loss except one. I don't have any stop loss so not able to out from the stock. Total open loss is Rs. 7098.27/- (3.380%)

I need some advice
==================
I bought Atlanta on 7/9/2016 with Breakeven 74.25. What should my stoploss and how shall I exit from it.

MY broker is expensive, I have initiate a process of changing my broker.
Please don't suggest any.

 

[suri112000]

Thanks for your time and post.
I will be rather thankful If you can recommend some book or article regarding that and help me to find concrete answer of all this.

I suggest following books :-

Trade your way to Financial Freedom - Van K Tharp
Trading for a Living - Elder Alexander
Come into my Trading Room - Elder Alexander

 

[suri112000]

And Pleeeeeezzzzzz avoid HPDisordered people and their advice, dey lurk in forums/internet feeding on unsuspecting boarders/netizens presenting to u Re-Invented Wheels and/or copy paste contents as their own , all just to fulfill their silly crave to showoff.

When u find such an HPD , advice them back to get Help b4 it's too late.

@turi112000,

Charvita Charvanam Paashaana Praashanam.

This Thread is ,as Happy Singh ji rightly commented, is for Backtesting /Digging for Optimal Params and OldTrader is working so hard to give some EMPIRICAL study reports rather than some copy paste Charvit Charvan.

This Thread will remain Blessed if it is NOT HIJACKED .

@ Turi112000

HPD, seek Help , long due.

The first indication of HPD is they repeatedly fail to take names properly. Second indication is they cannot tolerate others progress. Third indication is they cannot withstand criticism. The other important indication is they can not differentiate between reality and hallucinations. Yes...help is needed and its long due.

 

[adorn]

All my capital blocked, so no trade. Just waiting and watching.
EOD Loss is -6157.07(-2.932%) on my Open Trade. So now actually I am in very thin profit .

Market up side gap opened but flat during the day, my stocks too showed some movement but not sold any. Now out of 6 holding two are in green.

 

[retireby40]

Good Initiative. Please don't lose hope. log your experience here.

Regards