My Day Trading Journal

[DanPickUp]

Hi Nithin,

Thanks for your wishes.

1.Not able to come out with a fool proof system and hence currently trading with system + discretion .

2. I am taking entries with a buy signal in 1M Tf.

3.I am with RKG hence my break even for Tata steel is 25 paise per trade.
So even if i cover my position at 80 paise I will be 300 Rs plus.

4.TS now a days is not correlating much with Nifty and hence I don't rely up on correlation with Nifty.
Even today I shorted TS and I went Long in Nifty but covered Nifty at 1 point and went long in Feb TS.

Best Regards,
JK

Hi JK

1. Never mind and if you have one, there is no obligation to share it !!

2. If you have the right charting software to do so, some live on such trades. It gives you the possibility to stay away from every day trading. One month time frame is position sizing trading and it is a quit job. Even than, place your stop losses and calculate your risk reward ratio.

3. I not can comment as I do not.

I wish you all the best in the next few months and take care.

DanPickUp

 

[jagankris]

For Tradeji
Sir plz tel me What is the difference between sub-broker and Authorized person . Actually i want to open a franchise of a good broking house but they told me they can let me there authorized person (AP) as it will cost me less to open the bussiness . Plz help me and say the difference in between sub-broker of any broking house like religare etc and AP . Plz it is urgent

Dear Rayees,

You have addressed your query in a wrong thread.
Never mind.
Authorized Person means like a re-miser ie you will add clients to the main broker - Religare or who ever you choose.
They will provide you the commission for the turnover made by the people whom you have referred with them.You can use their office space and infrastructure free of cost.
Disadvantage with this model is they will try to move the clients to their accounts by providing lower brokerage and subsequently you will loose them after some point of time.
No risk at your end.

Sub broker - you will have your office/infra etc.
Just profit sharing.Marketing,Risk will be yours.I.e you will be running the business.

If you are planning big and want to make this as your full time career and have good network and investment of at least 2- 5 lakhs depending upon the location and have sufficient money(additional 3 lakhs) till you build your client base then sub broker is a better option.

Current Trend - Highly competitive with low cost brokers like Zerodha,RKG and few others sub broker business is not that lucrative as before.

Trend is companies like Edelweiss are focusing direct offline clients.

TC,
JK

 

[jagankris]

My Trading journal for 25 th Jan.

1.Due to monthly power shut down I covered my positions in a haste.
Covered LT @ 1674 rs while it went up to 1694 that day.

2.A quick scalp in Tatasteel made a profit of 450 rs.

Only two trades.
But the position Jan TS and Feb ts spread widened and I incurred a loss of 3000 rs due to that.

Need not to say that an UPS is a must for trading.

TC,
JK

 

[jagankris]

My Trading journal for Today

1.Again wasted one more day with out any significant returns.
Mainly due to lack of discipline.Just a short of 1 lot of Nifty would have made me richer by 5k today.Writing the below in pain - I wasted today as usual.

1.6 Trades of TS - 1050 profit
What's the point making just 1050 rs after 6 trades.

2.Union Bank - 150 rs profit - Took the trade in an impulse.
Luckily got exit.

3.Nifty - 162.50 RS Profit.
Lack of patience.Went short at 5644 and in less than 5 minutes covered at 5640.I should have waited here.

4.IBRL - 2 Lots of Feb 130 Call - average price - 4.15 rs.Close - 3.80.Position open.1400 (loss)

I must say thanks to Dan and Raunak Bhai who stresses MM more than TA .I realized the importance of the same.

Keep going Jagan you have almost reached and it is just a matter of fine tuning

-Jk

 

[Easytrader]

My Trading journal for Today

1.Again wasted one more day with out any significant returns.
Mainly due to lack of discipline.Just a short of 1 lot of Nifty would have made me richer by 5k today.Writing the below in pain - I wasted today as usual.

1.6 Trades of TS - 1050 profit
What's the point making just 1050 rs after 6 trades.

2.Union Bank - 150 rs profit - Took the trade in an impulse.
Luckily got exit.

3.Nifty - 162.50 RS Profit.
Lack of patience.Went short at 5644 and in less than 5 minutes covered at 5640.I should have waited here.

4.IBRL - 2 Lots of Feb 130 Call - average price - 4.15 rs.Close - 3.80.Position open.1400 (loss)

I must say thanks to Dan and Raunak Bhai who stresses MM more than TA .I realized the importance of the same.

Keep going Jagan you have almost reached and it is just a matter of fine tuning

-Jk

Good going Wish you all the best

 

[jagankris]

Days Like Today are called "Paradise" by traders.
I.e pure one side fall of 125 points and again a reversal of 50 points.

I knew this fall.I anticipated this fall in advance.I was cock sure Nifty to touch 5535 today.Ok knowing all these any sensible trader should have availed this opportunity to make a killing.

1.A simple short at the opening and a long at the closing in Nifty would have made any trader richer by 9K comfortably.

2.Same with IBRL profit 12K +.

1.I have 3 lots of IBRL 130 call @average price 4.75.
Thought of going short in IBRL at the opening.Did I do that nope
Bought Nifty put at the opening and I forgot about IBRL.
By the time I checked the price it came down to 122.50 rs.

2.Covered the puts early.Early exit. .

3.Shorted my 3 IBRL calls average price @ 3.20 and covered at 2.60.

4.Shorted IBRL at 120 - covered at 120.10.
5.Shorted IBRL at 119.70 - covered at 119.15.

Net profit in today's trade - 9075 Rs on a day of Paradise which is nothing but peanuts

A slight improvement but needs proper planning about the action items clearly thought and more focus about implementation.

Keep improving Jagan.

TC,
JK

 

[anuragmunjal]

'But the position Jan TS and Feb ts spread widened and I incurred a loss of 3000 rs due to that.'

hi Jagan
just my two cents... be careful of spreads... they can be very deceptive. do not trade spreads if u do not have a correct knowledge on how to trade spreads...
if and when u trade spreads, make sure u trade in contango and avoid bacwardation like plague..

regards

 

[jagankris]

'But the position Jan TS and Feb ts spread widened and I incurred a loss of 3000 rs due to that.'

hi Jagan
just my two cents... be careful of spreads... they can be very deceptive. do not trade spreads if u do not have a correct knowledge on how to trade spreads...
if and when u trade spreads, make sure u trade in contango and avoid bacwardation like plague..

regards

Thanks Anurag ji.
I will be more careful trading spreads now on.Thanks for the new terms and it was informative.
Still lot to learn .

 

[jagankris]

My Trades Today

I was bit worried about the Gap.I was skeptical to go long or short.Waited for a direction.

One more day of relative under performance.
i.e I didn't trade to the fullest of my satisfaction or I could have done better.
I should have utilized today's gap down for good entries.

I missed TS/DLF/HDFC watching simply doing nothing.

A.Went for two quick scalps in DLF
1Long - 221.85 - Exit - 222.30
2Short - 222.75 - Exit - 222.20

B.TS
Short - 636.85 - Cover - 635.75
Long - 638.50 - Cover - 638.25
Short - 638 - Cover - 635.40
Short - 636.15 - Cover - 632.80
Short - 632.50 - Cover - 633.90

C.LT
Long - 1618 - Cover - 1620.80
Long - 1626.50 - Cover - 1630.85
I should have waited here.It went to 1648 +

Gross profit - 4493.75 Rs / 9 trades.

Good Trades - 8.
Failure - 1.

Make sure not to repeat today's mistakes again tomorrow.
Keep going Jagan.

Friends request to give some feedback,critics or advice to improve my trading.

TIA.

Best Regards,
JK

 

[Easytrader]

My Trades Today

I was bit worried about the Gap.I was skeptical to go long or short.Waited for a direction.

One more day of relative under performance.
i.e I didn't trade to the fullest of my satisfaction or I could have done better.
I should have utilized today's gap down for good entries.

I missed TS/DLF/HDFC watching simply doing nothing.

A.Went for two quick scalps in DLF
1Long - 221.85 - Exit - 222.30
2Short - 222.75 - Exit - 222.20

B.TS
Short - 636.85 - Cover - 635.75
Long - 638.50 - Cover - 638.25
Short - 638 - Cover - 635.40
Short - 636.15 - Cover - 632.80
Short - 632.50 - Cover - 633.90

C.LT
Long - 1618 - Cover - 1620.80
Long - 1626.50 - Cover - 1630.85
I should have waited here.It went to 1648 +

Gross profit - 4493.75 Rs / 9 trades.

Good Trades - 8.
Failure - 1.

Make sure not to repeat today's mistakes again tomorrow.
Keep going Jagan.

Friends request to give some feedback,critics or advice to improve my trading.

TIA.

Best Regards,
JK

What i see here is nice quick moves from ur side...

I should have waited here.It went to 1648 +

u should not blame urself imagine price taking a u turn from 1648.

if your actions saves ur day in profit its fine after all taking small curves prepares one to take the big one in future

:thumb: