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

    Joined:
    Sep 29, 2015
    Messages:
    264
    Likes Received:
    264
    Trophy Points:
    63
    Traderacer is last in the race of platform . :rofl:

    I use the usual online form filling for day trading . I am just using icicidirect because of good leverage its providing me . Like today traded (with 2750 blocked for trading) 500 shares of DHFL (short) @ 205.15 and got out @ 204.10 .. because I am foolish :mad: .

    It fell till 201.20 .. that means lost potential profit of 3*500 = 1500 .
    Even if I normalize it at the trend end it would be 202.30.
    Sad but true .
    Thats why I started this thread , i know many ppl get out of profitable trade too early ..

    Help out guys !!
     
  2. sharas

    sharas New Member

    Joined:
    Jan 22, 2010
    Messages:
    6
    Likes Received:
    3
    Trophy Points:
    3
    As you have a criteria for Entry, there should be one for Exit too. And the Exit could be either at Target or at SL. Believe me never break the rule of exiting either at SL or Target, else you would be under a pressure to make only profitable trades
     
  3. Mungus

    Mungus Well-Known Member

    Joined:
    Oct 22, 2015
    Messages:
    369
    Likes Received:
    440
    Trophy Points:
    63
    Go for Zerodha.
     
  4. timepass

    timepass Moderator

    Joined:
    Nov 3, 2010
    Messages:
    18,748
    Likes Received:
    31,833
    Trophy Points:
    113
    Location:
    Idhar ich, aur kidhar?
    Sherbaaz is right, it is a psychological issue as much as a technical issue. Can't advice on the psychology. As for technicals, which oscillators are you using ? Try Money Flow Index and ADX also.

    Of course, reducing costs is a fundamental, so maybe changing brokers is a good idea. Lots of discount brokers in the field.
     
  5. wabuf

    wabuf Well-Known Member

    Joined:
    Sep 29, 2015
    Messages:
    264
    Likes Received:
    264
    Trophy Points:
    63
    @sharas
    hi,
    so one should have a fix tgt . If it gets hit One should leave the script right ? how do you exit your trades , if u dont mind sharing :)

    @time pass

    Hi ,
    How can one ride the trend ?? I use MACD + RSI . thats it . How can one judge that this "123" profit is enough for my investment . I mean should there be any % return on investment ? Like 10 % , 30 % , 50 % return ? Is there any indicator for trend exhaustion. ?

    Indicators for trend reversal might be very helpful I think .! :confused:
     
  6. Mungus

    Mungus Well-Known Member

    Joined:
    Oct 22, 2015
    Messages:
    369
    Likes Received:
    440
    Trophy Points:
    63
    With a Scalper Mindset,Trend Ridding is more dangerous than Horse Ridding.
    Because you scalp in a trend and trail in range market.

    Tugduk Tugduk Tugduk :D
     
    vijkris likes this.
  7. wabuf

    wabuf Well-Known Member

    Joined:
    Sep 29, 2015
    Messages:
    264
    Likes Received:
    264
    Trophy Points:
    63
    lol that comment though :lol: . Back to question. Does donchian channel help ride the trend ?? Anyone using it ..??
     
  8. sherbaaz

    sherbaaz Banned

    Joined:
    Jul 12, 2009
    Messages:
    301
    Likes Received:
    473
    Trophy Points:
    63
    as per my exp one book you can read on psychological aspects of trading is "trading mindfully" by gary dayton. for me its the best book written on the subject of trading psychology.

    you cannot think mkt in isolation like trend exhaustion or reversal point or in dojis. you have to think in totality.

    on stand alone basis no indicator can work. IRONY is all popular indicators work and work quite well PROVIDED you know its working and MOST IMP you know market structure. MKT STRUCTURE for me is the most imp thing.

    regds,s
     
    20.sum1 and wabuf like this.
  9. wabuf

    wabuf Well-Known Member

    Joined:
    Sep 29, 2015
    Messages:
    264
    Likes Received:
    264
    Trophy Points:
    63
    Thanks will check this book
     
  10. shadoss

    shadoss New Member

    Joined:
    May 4, 2016
    Messages:
    4
    Likes Received:
    0
    Trophy Points:
    1
    WABUF you are scalping, you should try to open a trade and stay away from the marker and check it at the end of the day. That will help you with fear . Don't forget to use stop loss

    Sent from my SM-N9005 using Tapatalk
     

Share This Page