My Trading Journey - Day Trading the account with ~ 1000 INR

[Nagappan]

Hi all,

I unable to update this post yesterday.

Yesterday I had ~ 1600 INR in my account

I made loss of ~ 400 INR

Total account in morning ~ 1600 INR
Loss ~ 400 INR
Total loss (inc. Brok.) ~ 450 INR
% on account value ~ 28 %

Notes : Big loss in last two days. I should avoid first hour trading or should reduce the position size on first hour trading.

Also on both days, prediction went wrong + Got technical signal in the wrong direction too.

Next step : I will be careful and go with kind of capital protection trading where, probability of getting success is very high but profit will be less.

Regards,
Nagappan

 

[Rish]

Hi all,

I unable to update this post yesterday.

Yesterday I had ~ 1600 INR in my account

I made loss of ~ 400 INR

Total account in morning ~ 1600 INR
Loss ~ 400 INR
Total loss (inc. Brok.) ~ 450 INR
% on account value ~ 28 %

Notes : Big loss in last two days. I should avoid first hour trading or should reduce the position size on first hour trading.

Also on both days, prediction went wrong + Got technical signal in the wrong direction too.

Next step : I will be careful and go with kind of capital protection trading where, probability of getting success is very high but profit will be less.

Regards,
Nagappan

:thumb::thumb::thumb: This is the first step in trading...nice...

 

[j.sajiv]

Majority of the day traders always LOOSE money.....
Most of the wealthiest people in the stock market have made that wealth via long term investing. This includes Warren buffet and Rakesh Jhunjunwala.
Nagappan - People who make money by day trading have alteast spent 4 to 6 yrs and know the pulse of the market.
NOBODY can predict the market....one of the reasons being market is driven by greed / fear / emotions of the masses..............
Your first profit of Rs. 750 may have had you believe that you are doing something right.and if you continue doing it , you will make big money.....The Market wants people to think like that....The Market needs a new set of loosers ...Thats the game we are in....My suggestion as a well wisher - stop day trading....get to learn chart reading...read books..only then be in this game.....

 

[Nagappan]

Majority of the day traders always LOOSE money.....
Most of the wealthiest people in the stock market have made that wealth via long term investing. This includes Warren buffet and Rakesh Jhunjunwala.

Hi J.Sajiv,

I'm already doing long term investment in stock market. It gives good ROI.

People who make money by day trading have alteast spent 4 to 6 yrs and know the pulse of the market.

Yes I agree with you.

NOBODY can predict the market.

Sorry ! You are wrong. Prediction is everywhere. If we able to predict weather, then we should be able to predict market. Even if you use technical indicators (or knowing the pulse of market), you are predicting the market whether price will go up or go down.

Someone may use mathematical models, someone may use psychological models, someone may use astrological models, etc..,

Your first profit of Rs. 750 may have had you believe that you are doing something right.and if you continue doing it , you will make big money.....The Market wants people to think like that....The Market needs a new set of loosers ...Thats the game we are in.

750 is not my first profit. I'm not saying I'm doing right . I'm just doing experiment based on data analysis what I believe worth my time to spend.

I like to be a looser in this game for sometime.

My suggestion as a well wisher - stop day trading....get to learn chart reading...read books..only then be in this game.....

Thanks. I started this day trading after a lot of research. I may fail now, but I don't have any idea to stop day trading. Also I'm not taking risk with any big amount of money.

Regards,
Nagappan

 

[retireby40]

Majority of the day traders always LOOSE money.....
Most of the wealthiest people in the stock market have made that wealth via long term investing. This includes Warren buffet and Rakesh Jhunjunwala.

Initially RJ was a hardcore trader. please read his early days story.
Same with Warren buffet. He had a plan in place. Plus he had almost 100% borrowed money for investing. Borrowed? yes. He used all his premium collected for investment purpose. in that way it was borrowed money only.
At one time his single bet in the portfolio was 60% of total portfolio.

However I agree that in the long term people tend to earn more. but then RJ and WB started long term with much much big amount. So 10% CAGR on that big amount is decent.

 

[retireby40]

Thanks. I started this day trading after a lot of research. I may fail now, but I don't have any idea to stop day trading. Also I'm not taking risk with any big amount of money.

Regards,
Nagappan

Good job Nagappan,
I also lost 800Rs today.. No issues

 

[Nagappan]

Hi all,

Today morning I had ~ 1250 INR
Profit (after Brok.) ~ 50 INR ( It is like almost zero)
% on total account value ~ 4 %

Notes : I will take high probability trades and will avoid frequent trades for sometime. Especially I will avoid first hour trading.

Regards,
Nagappan

 

[Nagappan]

Good job Nagappan,
I also lost 800Rs today.. No issues

Hi retireby40,

Thanks. Keep it up. I believe that failure should not stop us.

 

[timepass]

Hi all,

Today morning I had ~ 1250 INR
Profit (after Brok.) ~ 50 INR ( It is like almost zero)

Anything above zero is very welcome, do not belittle it.

 

[rip07]

Nagappan,

You are wrong. Prediction is everywhere. If we able to predict weather, then we should be able to predict market.

There is a difference between prediction and speculation my friend. Astrologer do prediction. Traders do speculation (with a calculated risk and reward) which you justify your trade with some logic is called speculation.

May be you mean prediction in trading what I explained above as speculation. But both terms are different.

--rip07