Intraday Profit / Loss MGM

Discussion in 'Risk & Money Management' started by wabuf, May 3, 2016.

?

My MGM Method

Poll closed May 3, 2017.
  1. Run with Your Profits/Loss ASAP

    60.0%
  2. Lets Wait for Reversal

    26.7%
  3. Getting/Lossing 50% on my trading capital . I am DONE

    0 vote(s)
    0.0%
  4. Overwaiting for BIG Profit/Loss

    6.7%
  5. No method . Upar wala karega jo karna hai :D

    13.3%
Multiple votes are allowed.
  1. wabuf

    wabuf Well-Known Member

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    Hi Traders ..

    I day trade equities and my problem is " Profit / Loss MGM " . usually 7 / 10 scripts my analysis is correct . I have a good entry strategy . The problem is when the stock falls or rises after my entry i exit too early (with just 1-2 pts) fearing that my profits would get eaten up anytime . The realty is it heads further 5-8 pts in my direction leaving potential profits . This is going on since 4-5 months and I dont know how I can overcome this habit . Pl Traders guide me with suggestions .Not able to grow profits :( . Hope this thread helps other newbie traders too .

    Thanks
    :):):)
     
  2. hmp

    hmp Well-Known Member

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    Wabuf ji
    I dont know about your strategy but may i suggest you to try fractle afl with parameters given by Oldtraderji? Of course its not for intraday but you can easily wait without tension till next signal for change in trade occurs.If intraday is must for you one can try for intraday profit also if there is sudden higher/lower move in scrip by keeping trailing stop as per your risk appetite
    Regards
     
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  3. sherbaaz

    sherbaaz Banned

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    hi,
    you cannot overcome fear. understand the fear. here its fear of losing money. the day you understand your fear your will accept it and you will be at peace.

    regds,s
     
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  4. wabuf

    wabuf Well-Known Member

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    @HMP

    HI , I tried using fractal , sorry to say but i am not comfortable with that . Gives late reversals when price moves significantly . Price action is my system with help of MACD. Today shorted DHFL. pl. refer following pic

    See , didnt took potential profit . this is happening since 5 months to me .
    Given up so much of profit since months ..

    PL. Help me out . :( How one decides to exit at a specific time.
     
    Last edited: Jul 25, 2016
  5. wabuf

    wabuf Well-Known Member

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    @sherbaaz

    Hi , do you have any indicator that tell trend exhaustion , or reversal might occur , other than waiting for DOJIS to occur ? or Do you have any book that explains how to ride a trend ???? Any psychological material is welcomed :D
     
    Last edited: May 3, 2016
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  6. Mungus

    Mungus Well-Known Member

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    You have a Scalping Mindset.Quick-in,Quick-out Type.
     
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  7. wabuf

    wabuf Well-Known Member

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    Bro , I think You are correct . But with current high brokerages of icicidirect , i would be broke in couple of months :rofl: i can only trade 2-3 scripts daily :rofl:
     
  8. wabuf

    wabuf Well-Known Member

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    tried using PSAR indicator but its damn late signals . Not fan of many indicators though
     
  9. vijkris

    vijkris Well-Known Member

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    if u can pay 1lakh prepaid brokerage, it reduces to 0.012. then u wont be broke. or else dump her(icicidirect),(assuming u r male :D).
     
  10. vijkris

    vijkris Well-Known Member

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    can u give a review abt icici platform. traderacer? hope u r using it.
     
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