Is Daytrading dangerous?

[kgsirasangi]

On 26/11/2006, you said as follows:-

Actually Daytrading is the most relaxing and the easiest way to make money in the markets.Not sure what's all the fuss is about


CV


On 11/12/2006 you are saying as follows :-

To sum up, yes daytrading is dangerous. Actually one can never make money in it. I basically sit on my butt 80 hrs every week so that I can lose money daytrading.Its my way of contributing to humanity.


CV

I wonder which of above is correct? I am sure a senior and experienced trader like you can only make prfit. I can't imagine yourself making losses and that too continuously.

Regards

 

[CreditViolet]

I wonder which of above is correct? I am sure a senior and experienced trader like you can only make prfit. I can't imagine yourself making losses and that too continuously.

Regards

Hey KG
You miss the irony , I was just kidding with the post.

I maintain that daytrading is the most relaxing, easy and the best way to participate in the markets and make money.All those who keep talking about how difficult and impossible it just makes me chuckle.

But it requires desire, preparation and a few years of work before one is consistently successful at it ( key word here is consistency because anybody can put on a winning trade but few can consistently do it ).There are few who have the will to swallow the humiliations day after day especially at the newbie stage and continue doggedly without any 'structure' unlike in other professions.


Rgds
CV

 

[kgsirasangi]

CV,

Thank you for clarifying the position regarding daytrading. I fully agree with your views.

Regards

 

[hmp]

Hi Creditviolet!
Sir, I Have Great Regards For You. Will U Pl. Explain Us What Type Of Strategy (money Management) You Use To Make Constintent Proffit.it Will Be Helpfull For Juniors Like Us.
Regards
Hmp.

 

[andaearth]

Even Bhrama dev don't know what is Going to happen.
Don't trade intra.
If you want to trade intraday, First take a delivery of that stock at support point, If that day scrip goes to intra day high or up to resistance sell it immadiatly. After that wait it to fall up to support level-then buy It. you will never lose any money.If after selling it breaks resistance don't panic you sell your delivery forgot it.


Anand

 

[CreditViolet]

Hi Creditviolet!
Sir, I Have Great Regards For You. Will U Pl. Explain Us What Type Of Strategy (money Management) You Use To Make Constintent Proffit.it Will Be Helpfull For Juniors Like Us.
Regards
Hmp.

Hi HMP

As I said in the other thread, money management puzzle cant be solved in isolation..it has to fit seamlessly into your trading plan. For every strategy I employ I know the MAE ( Maximum Adverse Excursion ) that is..how much will the trade is expected to go against me before starting to show a profit. Based on that I size my positions which is as you can see are strategy dependent.When trading discretionarily, I follow the Fixed Lot Methodology that is predetrmined based on the 'heat/risk' I am willing to take on an account.

Another key method I follow is to "Trade for Zero' that is I take trades which have high probability of going in my favor as soon as possible.That frees me from the two major things that most people are worried about - being right and knowing what the markets are going to do.

I hope this helps

Rgds
CV

 

[CreditViolet]

Even Bhrama dev don't know what is Going to happen.

Yes Mr Anand..but one doesnt need to know what is going to happen next in the market to make money.One just needs to know the probability of whats going to happen and bet accordingly. Ever played poker Mr.Anand?

Don't trade intra.
play Fair trade. If you Hold the stock in your Damat on that basis play inta on that stock only.

With due respect Sir, I dont think you have any clue what you are saying

Rgds
CV

 

[Nodaytrading]

What is my name?
Daytrading = 1day profit/ 1 day loss = Mental Diabetes

Where is warren buffet................

 

[beginner_av]

dear andeaearth

i think u have never traded b4, thats why u devised a strategy where u will never lose money. do 10 consistent trades with ur theory and u will realize it all. then come back for discussions.

 

[CreditViolet]

What is my name?
Daytrading = 1day profit/ 1 day loss = Mental Diabetes

Where is warren buffet................

Here is my moto

NoBrainSurgery


b/w Do you know that Buffett used to trade in his early years? Also that he lost 2 Billion on his Dollar trade.

You guys need to get a clue before you talk about anything.Maybe try and grow a brain or something, its useful

Rgds
CV