Will you please help me to be a day trader, you knowledgeble people?

[greendesert]

Hi Hari,

I will recommend you to start off with two simple books. 1. Technical Analysis of Stock Trends by Robert Edwards and John Magee. 2. Martin Pring on Market Momentum. Both these are published by Vision Books and should be available in your city.

Regards and ATB,

Sunil Saranjame.

Both of the cited books are recommended by ashwani gujral and I ordered them today online

 

[vince]

Thanks winstonn for your suggestion.But I am more interested in knowing how to fish rather than having a fish,like commented Saint in one of his thread.Let me know the dangerous game of day trading and being a believer,I will achieve it as the almighty is with me,like everybody else,and She showed me a good path for that-go and ask the people in traderji.Keep posting your views and guidance and make this thread a comprehensive one in the forum to everybody who wants to be a successful trader in the capital market in India.Thanks everybody.Merry xmas to all.Hari om.

A question: Why do you wish to restrict yourself only to day trading ?

 

[greendesert]

maybe because its the sense of exhilaration which every new trader feels when he chances upon stock trading. Sooner than later all realize what it is all about as pointed out by SV.

 

[hari09omkar]

A question: Why do you wish to restrict yourself only to day trading ?

Well sir, that is because 1)I felt during the short experience in trading,that it's the toughest of all kind,hence adventurous,2)it is the day trading where only a miniscule percentage of traders get success,hence challenging,3)in order to day trade,it is very important that one have the knowledge of the deepest of deep in the subject of technical analysis,hence wisdom oriented,which I like,4)I have seen when market crash,the swing traders,who hold positions from few days to weeks can not identify the trend and can not decide what to do.They prefer not to trade or trade with little exposure and watch the happenings,wait till market takes a decisive direction.But I want to trade each and every day and make money to live.The share market is going to be the work place for me and it is a serious matter for me.Every step taken needs to be near to the perfect.It is day traders who never complain about the market crash.If it is moving upward-go long,if south bound-go short.And day traders should be so knowkedgeble and apt that they can easily make profits in the bull market or in a range bound market.
Well any insight and help in this subject are welcome. Thanks.Hari om.

 

[trader111]

Well sir, that is because 1)I felt during the short experience in trading,that it's the toughest of all kind,hence adventurous,2)it is the day trading where only a miniscule percentage of traders get success,hence challenging,3)in order to day trade,it is very important that one have the knowledge of the deepest of deep in the subject of technical analysis,hence wisdom oriented,which I like,4)I have seen when market crash,the swing traders,who hold positions from few days to weeks can not identify the trend and can not decide what to do.They prefer not to trade or trade with little exposure and watch the happenings,wait till market takes a decisive direction.But I want to trade each and every day and make money to live.The share market is going to be the work place for me and it is a serious matter for me.Every step taken needs to be near to the perfect.It is day traders who never complain about the market crash.If it is moving upward-go long,if south bound-go short.And day traders should be so knowkedgeble and apt that they can easily make profits in the bull market or in a range bound market.
Well any insight and help in this subject are welcome. Thanks.Hari om.

OM Namah! a gud analysis on intraday trading, which most dare. (I am also a daytrade ) This friend can give you a little advise from his experince : beware of the misadventures and you will make it.

 

[vince]

Well sir, that is because 1)I felt during the short experience in trading,that it's the toughest of all kind,hence adventurous,2)it is the day trading where only a miniscule percentage of traders get success,hence challenging,3)in order to day trade,it is very important that one have the knowledge of the deepest of deep in the subject of technical analysis,hence wisdom oriented,which I like,4)I have seen when market crash,the swing traders,who hold positions from few days to weeks can not identify the trend and can not decide what to do.They prefer not to trade or trade with little exposure and watch the happenings,wait till market takes a decisive direction.But I want to trade each and every day and make money to live.The share market is going to be the work place for me and it is a serious matter for me.Every step taken needs to be near to the perfect.It is day traders who never complain about the market crash.If it is moving upward-go long,if south bound-go short.And day traders should be so knowkedgeble and apt that they can easily make profits in the bull market or in a range bound market.
Well any insight and help in this subject are welcome. Thanks.Hari om.

Well, Let me try to put a few things in perspective for you.

Trading is tough period, unless you have your trading system in place regardless of the time frame you trade.

TA and risk control go hand in hand and one is incomplete without the other.

Referring to your fears of market crashes, it is a bad trader who looses heavily , regardless of what time frame he trades.

You do not have to trade everyday to make money in the markets.

I trade intraday too , but I certainly dont pass up swing or position opportunities .

All the best .

 

[Linus]

Good morning Hari,

I read your reply to Vince. Give it a thought to what Vince has said. It is easier and practical to pop in a banana than eating a custard apple. Take your pick!

Sunil Saranjame.

 

[darsh_goswami]

Dear Hari,..

So many replies ,.. so many comments ... I also found it very intresting. I'm more in to TA other then doing Trading but the only thing i can suggest you is simple.

ALWAYS FOLLOW THE SYSTEM. N PUT UR EMOTIONS OUT OF UR TRADES.

IF U STUCK BETWEEN SYSTEM N EMOTIONS THEN STRICTLY FOLLOW THE SYSTEM.

START LOVING STOP LOSSES. & NEVER FALL IN LOVE WITH A STOCK (As it will make u a man of no where , " Ishq ne nikamma kar diya "Ghalib " " LOL ))

FIX UR GOALS FOR TRADING ( IT MUST BE RATIONAL ).

DONT LISTEN TO ANYONE ELSE OTHER THEN UR PROVEN BEST TRADING SYSTEM. ( I FIND INTRADAY REVERSALS R THE BEST PATTERNS FOR INTRADAY )

UNDERSTAND THE CHART FULLY , THEN ONLY TRADE.

N FINALLY ,.. NEVER EVER BE GREEDY.....

ALL THE BEST ,..

REGARDS,..
DARSH

 

[hmp]

i want to earn min 1500 daily in day trading. pl. guide me with systamatic approach by applying money management and stoplosses.
regards.also how to scalp proffit in scalp trading.
hmp.

 

[CreditViolet]

http://traderfeed.blogspot.com/2006/12/three-pervasive-myths-of-trading.html


CV