Traderji.com - Discussion forum for Stocks Commodities & Forex


i lost money in intraday trade for the past two days

Discuss i lost money in intraday trade for the past two days at the Day Trading within the Traderji.com - Discussion forum for Stocks Commodities & Forex; If you do not wish to lose, follow my thread. Day Trading -Intraday Target Achieved...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > THE MARKETS > Equities > Day Trading


Reply
 
Thread Tools
  #11  
Old 21st June 2011, 03:48 PM
Member
 
Join Date: Jul 2007
Posts: 104
Thanks: 7
Thanked 30 Times in 18 Posts
enkaysharma will become famous soon enough
Default Re: i lost money in intraday trade for the past two days

If you do not wish to lose, follow my thread.
Day Trading -Intraday Target Achieved



Reply With Quote
Sponsored Links
  #12  
Old 21st June 2011, 04:09 PM
subodh9's Avatar
Member
 
Join Date: Aug 2008
Location: Vadodara
Posts: 83
Thanks: 59
Thanked 88 Times in 35 Posts
subodh9 will become famous soon enough
Default Re: i lost money in intraday trade for the past two days

ya self proclaimed Guru !!!!
Reply With Quote
  #13  
Old 21st June 2011, 04:17 PM
Member
 
Join Date: Jul 2007
Posts: 104
Thanks: 7
Thanked 30 Times in 18 Posts
enkaysharma will become famous soon enough
Default Re: i lost money in intraday trade for the past two days

How much money do u earn in a day Mr. Subodh ? If you say u make 10 lakhs a day, I shall make u my GURU.
Reply With Quote
  #14  
Old 21st June 2011, 06:08 PM
Member
 
Join Date: Mar 2009
Posts: 137
Thanks: 310
Thanked 50 Times in 34 Posts
lasty66 will become famous soon enough
Default Re: i lost money in intraday trade for the past two days

Quote:
Originally Posted by enkaysharma View Post
How much money do u earn in a day Mr. Subodh ? If you say u make 10 lakhs a day, I shall make u my GURU.
Hi enkaysharma... u mean u earn 10 lacs a day?....by intraday trading...whats ur strategy?
Reply With Quote
  #15  
Old 22nd June 2011, 12:34 AM
Member
 
Join Date: Sep 2010
Posts: 210
Thanks: 152
Thanked 214 Times in 102 Posts
kevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura about
Default Re: i lost money in intraday trade for the past two days

This one for the guys....like Raj and other persons who have lost in day trading for last couple of day and are beginner
Understand the Basic Rules

Basic Rules for Online Day Trading
Online day trading requires both patience and practicality. To be successful, you need to focus on your trading technique, not the frequency of your trades. Remember, quality over quantity! There are many factors that play a vital role in online trading. Take a look at the following – my invaluable list of basic tenets for day trading.

1. Understand the risk:

The online trading market can be volatile, which creates risk. To be successful, you must be aware of factors that can influence prices, such as economic releases, earning reports, and statements by government officials. Staying updated with new developments will allow you to make sounder trading decisions.

2. Choose a trading time:

Before entering the online trading market, be sure to choose a block of time that suits your lifestyle. There is no point in trying to trade if you can’t find a suitable time to do it. Everyone has commitments in their lives which cannot be ignored, so you have to decide for yourself which regularly scheduled block of time you are most comfortable with.

3. Develop a strategy for your day trading:

Every online day trader should have an online trading strategy which he follows religiously. Most of these strategies will have common elements, including guidelines for signals, indicators, and rules regarding entry and exit. It’s important to determine your strategy before you begin to trade.

4. Trade the right market:

Different markets have different trading profiles, which vary in volatility (the online currency market is considered the most volatile of them all). Some are ideal for intraday trading while others are favorable for long-term action. Determine the market you want to invest in based on factors such as your account size, trading time frame, personal knowledge, and risk tolerance.

5. Be Open to Learning:

If you are a first-time day trader in the market, there are a number of risk-free ways for you to gain experience. For example, with a demo account, you can practice your order execution and trading systems to check their viability, all before putting your actual money at stake. Take advantage of the ample resources available to learn and practice the craft of online day trading.


6. Don’t Trade Too Often:

Overtrading is one of the most common mistakes of traders. It occurs mainly when traders try to compensate for their previous losses with ‘just a few more trades.’ Wise traders will allow themselves a pause from trading activity after a loss, instead of trading frantically in an attempt to recoup their money.

7. Start Small:

Starting small is a wise choice, especially if you’re fairly new to online day trading. Being conservative in your trading decisions will help protect you from possible mistakes and failures. Remember, if you trade big, you’re risking big money and setting yourself up for big failure.

YOU all may feel like a lecture, but guys..rather than falling into hand of tipsters and also to so called Gurus who make u teach their methods....its better to self learn, self-motivate and be self-disiplined
KEVIN SHAH
Reply With Quote
The Following 4 Users Say Thank You to kevin_shah For This Useful Post:
AW10 (22nd June 2011), casonite (23rd June 2011), HNI (23rd June 2011)
  #16  
Old 22nd June 2011, 12:39 AM
Member
 
Join Date: Sep 2010
Posts: 210
Thanks: 152
Thanked 214 Times in 102 Posts
kevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura about
Default Re: i lost money in intraday trade for the past two days

Optimize Your Day Trading Strategies
Making money is what it’s all about, and it only becomes easier once you have the appropriate day trading strategies in place. In day trading, faithfully following your trading plan will pave the way for higher profits. It’s extremely risky to trade any market without a strategy. Many people trading the market with individual, unplanned tactics lose out because they fall victim to the temptations of overtrading and heightened emotions.

Day trading necessitates selective, wise, and patient trading methods. Successful day traders are practical, and do not go overboard when trading the market. They focus on the quality of each trade, not the quantity. If you enter the market too frequently, you overexpose your money to fluctuations and risk serious loss, not to mention the execution costs that you pay every time you trade.

Many traders bask in their ignorance, believing that if you trade more, you profit more. This is a conceptual fallacy which creates disasters for a number of traders in the market. Overtrading – which occurs when traders increase their number of trades in an attempt to recoup losses – takes place with astounding regularity.

Profitable, forward-thinking traders will hold to their set strategies, resisting the urge to deviate from their chosen course. Success comes from analyzing and evaluating your day trading options and streamlining your day trading strategies regularly. To better understand the complete length and breadth of trading mindsets, tools, and techniques, I recommend The Psychology of Trading, by Brett. N. Steenbarger.

Also, consider a few of these effective day trading strategies to stick to:

1. Believe in the day trading system you follow. Do not question the effectiveness of its rules and methods unless and until you have successfully explored all of its trading options.

2. Trade only twice a day – once in the morning and once in the afternoon. Continue trading this way for at least the first 2 to 3 months. A conservative schedule will save you from the temptation of overtrading.

3. Make a weekly goal of your profits lets say... $250 or $300 profit per contract. When you get a successful trade and achieve the weekly target of $250 or more, you should switch off your trading screen and take a break until the following Monday. This will be good for your health – and also help prevent overtrading. If for some reason you are not able to meet your set profit goal in a particular week, don’t worry! It’s happened to everyone. Just continue on consistently with your trading strategies and you’ll find success.
Reply With Quote
The Following User Says Thank You to kevin_shah For This Useful Post:
HNI (23rd June 2011)
  #17  
Old 22nd June 2011, 03:26 PM
Member
 
Join Date: Jun 2011
Posts: 3
Thanks: 2
Thanked 1 Time in 1 Post
kehl is on a distinguished road
Default Re: i lost money in intraday trade for the past two days

Quote:
Originally Posted by kevin_shah View Post
Optimize Your Day Trading Strategies
Making money is what it’s all about, and it only becomes easier once you have the appropriate day trading strategies in place. In day trading, faithfully following your trading plan will pave the way for higher profits. It’s extremely risky to trade any market without a strategy. Many people trading the market with individual, unplanned tactics lose out because they fall victim to the temptations of overtrading and heightened emotions.

Day trading necessitates selective, wise, and patient trading methods. Successful day traders are practical, and do not go overboard when trading the market. They focus on the quality of each trade, not the quantity. If you enter the market too frequently, you overexpose your money to fluctuations and risk serious loss, not to mention the execution costs that you pay every time you trade.

Many traders bask in their ignorance, believing that if you trade more, you profit more. This is a conceptual fallacy which creates disasters for a number of traders in the market. Overtrading – which occurs when traders increase their number of trades in an attempt to recoup losses – takes place with astounding regularity.

Profitable, forward-thinking traders will hold to their set strategies, resisting the urge to deviate from their chosen course. Success comes from analyzing and evaluating your day trading options and streamlining your day trading strategies regularly. To better understand the complete length and breadth of trading mindsets, tools, and techniques, I recommend The Psychology of Trading, by Brett. N. Steenbarger.

Also, consider a few of these effective day trading strategies to stick to:

1. Believe in the day trading system you follow. Do not question the effectiveness of its rules and methods unless and until you have successfully explored all of its trading options.

2. Trade only twice a day – once in the morning and once in the afternoon. Continue trading this way for at least the first 2 to 3 months. A conservative schedule will save you from the temptation of overtrading.

3. Make a weekly goal of your profits lets say... $250 or $300 profit per contract. When you get a successful trade and achieve the weekly target of $250 or more, you should switch off your trading screen and take a break until the following Monday. This will be good for your health – and also help prevent overtrading. If for some reason you are not able to meet your set profit goal in a particular week, don’t worry! It’s happened to everyone. Just continue on consistently with your trading strategies and you’ll find success.
Thanks for your advice, Kevin.

I am a beginner in day trading as well. Been reading some threads from the masters here like ST and Raghav, I'm now trying to build my own trading system to fit in the Hong Kong market.

I think the frustrating thing, especially to beginners like me, is that the system may work great this week, and then cause you big loss for the following two weeks. So what should we do then? Still firmly believe the system, or do some tweaks on the system or even give up the system?
Reply With Quote
  #18  
Old 23rd June 2011, 05:04 PM
Member
 
Join Date: Sep 2010
Posts: 210
Thanks: 152
Thanked 214 Times in 102 Posts
kevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura aboutkevin_shah has a spectacular aura about
Default Re: i lost money in intraday trade for the past two days

Quote:
Originally Posted by kehl View Post
Thanks for your advice, Kevin.

I am a beginner in day trading as well. Been reading some threads from the masters here like ST and Raghav, I'm now trying to build my own trading system to fit in the Hong Kong market.

I think the frustrating thing, especially to beginners like me, is that the system may work great this week, and then cause you big loss for the following two weeks. So what should we do then? Still firmly believe the system, or do some tweaks on the system or even give up the system?
Hi Kehl,
I guess u are more inclined to Trading systems, that what i can make out it because building trading systems need knowledge, patience and creditability,...
Anyways if u have problems like this , first of all
1. Understand the market behaviour
---Systems don't make the market ; people's emotions make them fall/rise;
---Plus understand the psychological levels like High/Low, Support/Resistance; ( bcoz they work better than any systems), if possible inculcate them in ur systems


2. Understand the Sytem
---are u developing your systems for trend folowing or in rangebound conditions.
----as trend -following ssytems don't work in range-bound..any tweaking won't help and vice versa

3. Understand YOUR Mind
---what happens is that greed, fear and other emotions creep in when signals come
---this is because every signal has the same probability of success/failure w.r.t to previous ones.. so find ur edge and take those trades which your edge speaks to u( because u know it will bring profits)

I think this should be useful and Since u are new to trading these takes time and in my opinion give yourself 6 months on these aspects, and yes one last piece of advice
KEEP LEARNING
Reply With Quote
The Following 2 Users Say Thank You to kevin_shah For This Useful Post:
HNI (23rd June 2011), kehl (24th June 2011)
  #19  
Old 23rd June 2011, 05:18 PM
Member
 
Join Date: Jun 2011
Posts: 125
Thanks: 70
Thanked 123 Times in 69 Posts
casonite will become famous soon enoughcasonite will become famous soon enough
Default Re: i lost money in intraday trade for the past two days

Quote:
Originally Posted by Raj133 View Post
hi to all
i am new to intraday trade. though i am concentrating in support and resistant level i couldnt make money in intraday trade. i lost 10,000 in the past two days. i felt its very difficult to identify buy & sell point in intraday trade. pls help me to do successfull intraday trade. how can i select good stock during intraday trade? also pls suggest me good intraday tips giving website. or tell me how can i predict stocks for trading by myself.
is it possible to predict correct buy & sell point by ourself ? if so what is the method? pls answer for my questions.
Hi buddy! I am no good to be making suggestion/recommendations for question as big as this but i can share my experience, if it helps. Experience of many lost trades over 2.5 years and thousands of rupees later i realized there is no right or correct answer to this question. Just as anything else, it will take time and experience before we realize what trading style suits us. No one can guarentee that they will make money for sure but i can guarentee that there is no one on the planet who has never lost money trading. Instead of looking around you'd need to come back to yourself. Read, test, observer and keep repeating it till you start observing something in charts that tells you of a high probablity trade. It will take time bro...for sure. Hang in there....this is only going to give you the skills like patience, determination that is needed to be a successful trader. There is one thing i would add....trading is more mental than anything else...you may have spotted a perfect trade but to make that trade and then staying with your trade while you watch market going against you will test you. It will also test you when you start a trade going your way and you having an urge to book profits and exit..only to realise you lost on a major move...

There is a interesting article that you may find worth reading...take a look

http://www.traderji.com/equities/434...ue-trader.html
Reply With Quote
The Following 3 Users Say Thank You to casonite For This Useful Post:
HNI (23rd June 2011), kevin_shah (23rd June 2011), TraderRavi (30th June 2011)
  #20  
Old 30th June 2011, 08:59 AM
Member
 
Join Date: Jun 2011
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
rahul601 is on a distinguished road
Default Re: i lost money in intraday trade for the past two days

Hi Raj
as you lost 10,000?- Rupees first you have to stop trading and join the technical analysis course and get the charting software and real time data,
you have to devlope your own trading technique, onecs you devlope technique you have to trade with paper trading technique so you avoid actual losses alway try to learn new things and most important point i learn from market you must have lot's of pessions and alway trade for 3-4 days or more,there are some video on youtube of sunil manglani plz watch it

thx


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT +5.5. The time now is 09:17 AM.

Indemnity, Disclaimer & Disclosure Notice:
• By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
• All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247