my trading history

[vibhunair]

Thanx a ton Tnsn

 

[negidude26]

Hi ,
i also am new to trading.
i just login for the first time to my Trading account.
i see tv business channels and watch charts, but frankly speaking i don;t know anything about trading.
to learn to use trading site and how to buy sell ,i have done one thing, i.e.
i only purchased a single share of ASHOK leyland @ rs. 47.
but,
msg shown " FUND ON HOLD"
it asked for bank account and i linked it to it and share got traded.
well this is my story till now.
any suggestions and guidance are most welcome
.
thanks

 

[Smart_trade]

Thanx Smart Trade. Yes I could realise that today. Actually its the mental aspect thats creating problems. First you need to identify such days early enough. When your first trade reverses and you get negative MTM, Novices like me get impatient and try to get back the money lost which leads to even more loss of perspective as panic sets in and we stay in market when we should ve quitely stayed out. Exactly what happened today. This is the very thing which I ve been trying to remove Par kambakht hamesha waapas aa jata hain. Seems I need much more losing days to learn the act of maintaining my composure. But all this is easy in the hindsight. How to see it when the drama is unfolding is the trick I guess.
Its the spider s story that comes to ones mind. Just hope I too have the same perseverence as the spider though

Today was a budget day so wide swings were expected. But there is no problems with wide swings. Daytraders live on volatility and quick action. I too had to reverse my position twice today.....but if the trade which is giving you 30 points profit reverses, you mast snatch 5-10-15 or whatever points profits you could....but NEVER let it go into a loss. Your trading capital should be at stake only for initial few minutes. Once the trade moves in profit......and if you see market reversing, pounce on it and grab some profits.And remember that market can reverse anytime without any warning.

The following two quotes describe the attitude day traders must have....they are not my quotes but I liked them. The first one is from some trader ( I dont remember the name ) and the second one is from a great trader Saint :

1) The Tiger must understand that he has to run faster than the fastest deer , otherwise he will die of starvation.

2) In daytrading we either become predators or prey.....we either eat or get eaten......

Just thought of telling you that you need to be aggressive in daytrading. Daytrading is not a relaxed armchair job....it is sitting on the edge of your chair job.....ready to move anyside.

Best wishes ....take care of few things and success will be yours.

Smart_trade

 

[vibhunair]

Thankyou very much Smart trade for the wonderful words of inspiration. They go a long way in bolstering the confidence of somebody like me..

Even I had a feeling today will be volatile. But entered purposefully to experience how it felt. No doubt it was one hell of a roller coaster with emotions. I realise that the day it ceases to be a roller coaster and I execute my plan in cold calculated fashion that will be my first step towards success.
I m prepared to lose some more to such days if i learn something and take something positive out of it...
May be it ll give me some clues as to figure out such indications early....

 

[dhanya_alapatt]

Hi friends,

I started trading on Jan 20th.Im completly new to this n unfortunatly did vry little reserch n plannin.This leaded to a loss of 30% of my capital in te past one n half month.Now thats te time i started thingin more seriously,did some reserch etc...n tats hw i came acroos tradji which helped me a lot wid it vast information..It boosted my spirits n im goin for a new start from this month...
We can do better in coming days with good planning n money management..From nw on im goin to concentrate on these with factors..

Happy Trading,

 

[vibhunair]

Hi ,
i also am new to trading.
i just login for the first time to my Trading account.
i see tv business channels and watch charts, but frankly speaking i don;t know anything about trading.
to learn to use trading site and how to buy sell ,i have done one thing, i.e.
i only purchased a single share of ASHOK leyland @ rs. 47.
but,
msg shown " FUND ON HOLD"
it asked for bank account and i linked it to it and share got traded.
well this is my story till now.
any suggestions and guidance are most welcome
.
thanks

Welcome to the club of newbees negidude...

We have many wonderful souls out here on traderji who are doing some great selfless work in trying to help out newbees like us...

 

[vibhunair]

Hi friends,

I started trading on Jan 20th.Im completly new to this n unfortunatly did vry little reserch n plannin.This leaded to a loss of 30% of my capital in te past one n half month.Now thats te time i started thingin more seriously,did some reserch etc...n tats hw i came acroos tradji which helped me a lot wid it vast information..It boosted my spirits n im goin for a new start from this month...
We can do better in coming days with good planning n money management..From nw on im goin to concentrate on these with factors..

Happy Trading,

Welcome to the boat dhanya...
many of us here are on the same boat....
All the very best and happy trading. Feel free to share your experiences here so we all can learn from each others experiences...

Happy trading

 

[vibhunair]

Today was a budget day so wide swings were expected. But there is no problems with wide swings. Daytraders live on volatility and quick action. I too had to reverse my position twice today.....but if the trade which is giving you 30 points profit reverses, you mast snatch 5-10-15 or whatever points profits you could....but NEVER let it go into a loss. Your trading capital should be at stake only for initial few minutes. Once the trade moves in profit......and if you see market reversing, pounce on it and grab some profits.And remember that market can reverse anytime without any warning.


Smart_trade

Thank you smart trade wow. I have a habit of reading the same posts over and over again to see if i overlooked something. Wow and I just found what i had over looked when i read your post a few times before. I always waited for my stop loss to be hit and was not jumping in to close my trade before it turns into loss. Thanx a hundred thousand tonnes for this "you mast snatch 5-10-15 or whatever points profits you could....but NEVER let it go into a loss. Your trading capital should be at stake only for initial few minutes. Once the trade moves in profit......and if you see market reversing, pounce on it and grab some profits." This has given me a new dimension to think and plan.

Sorry if i am over reacting to the advice. But I am so dumb that I had not thought of it before.....
Hmm miles to go...

 

[vibhunair]

Good day today. Ended up having decent profit. But then today was an easy day without too many swings. Traded JP associates, got stopped out once initially re- entered and by noon was in profit. Did som partial bookings and got stopped out at 0225 on Trailing SL. Did nt enter again as just one hr to EOD though it went up further 1 Re.

But Its on days like yesterday that I should learn to earn else stay out atleast....

 

[dhanya_alapatt]

Itz was a great day tday but did a mistake by goin short on sesa goa...but nyways towards te end of the day got net gain of 700rs...