Guidance needed from experts on intraday trading

#1
I have been using equity charts for intraday trading since last 6 months. Inspite of using several analysis techniques i have been consistently loosing money in intraday trading. I tried using 1) EMA crossovers 2) MACD signals 3) supports and resistance 4) stochastic and RSI 5) combinations of these. But still my losses are more than profits.
I would request experts to guide me as to where I am going wrong and what should I do to survive in intraday trading in equities.
Awaiting hopefully.
Regards
Alta
 
#2
volume is a good indicator
also they indicators/oscillators generates false signals
if there is an uptrend and the MACD gives you signals to sell u have to aviod that signal this is just one example

hope it helps
 

linkon7

Well-Known Member
#5
Market is not linear and people try all sorts of analysis to make sense of random price movement which cannot be predicted. TA gives you that false hope that a combination of indicators and systems will make your profitable. Almost like a carrot on a stick that is dangled in front of a donkey. Donkey can see the carrot and he wont loose hope. Its a typical case of so near - yet so far....!

You are 6 month old and you want constant profit....! hhmm...! fact is, you lack screen time and experience. Anyone one can buy a guitar and a teach-yourself-how-to-play-a-guitar-in-10-days book. It'll take you a lot of time to learn to play that instrument like a pro.

First step for you is to compartmentalize your goal. You have already achieved your first milestone. You now realise that nothing works on the market. you realise that 90% people dont make money and the other 10% wont tell you how it is done. You havn't given up and you realise the journey wont be easy. Acknowledgement of that is the first milestone. so congrats...!

But what next...! well, when u become a pro, you'll need capital to make money. So preservation of capital is first on the agenda. keep a very small amount for your day trading and make a 1 year bank fixed deposit of the balance amount.

Next on the agenda will be to set a goal. 70% of your days should end in profit, 90% of your weeks and 100% of your months should end in profit. Once you have 6 months of profit under your belt... withdraw that FD.
 
#6
Market is not linear and people try all sorts of analysis to make sense of random price movement which cannot be predicted. TA gives you that false hope that a combination of indicators and systems will make your profitable. Almost like a carrot on a stick that is dangled in front of a donkey. Donkey can see the carrot and he wont loose hope. Its a typical case of so near - yet so far....!

You are 6 month old and you want constant profit....! hhmm...! fact is, you lack screen time and experience. Anyone one can buy a guitar and a teach-yourself-how-to-play-a-guitar-in-10-days book. It'll take you a lot of time to learn to play that instrument like a pro.

First step for you is to compartmentalize your goal. You have already achieved your first milestone. You now realise that nothing works on the market. you realise that 90% people dont make money and the other 10% wont tell you how it is done. You havn't given up and you realise the journey wont be easy. Acknowledgement of that is the first milestone. so congrats...!

But what next...! well, when u become a pro, you'll need capital to make money. So preservation of capital is first on the agenda. keep a very small amount for your day trading and make a 1 year bank fixed deposit of the balance amount.

Next on the agenda will be to set a goal. 70% of your days should end in profit, 90% of your weeks and 100% of your months should end in profit. Once you have 6 months of profit under your belt... withdraw that FD.

Dear Linkon7

Many Thanks for the enlightening reply. After the experience I have had in last months, my humble goal currently is that my profits shd be > than my loss. That's all.

Regards
alta
 

linkon7

Well-Known Member
#7
Dear Linkon7

Many Thanks for the enlightening reply. After the experience I have had in last months, my humble goal currently is that my profits shd be > than my loss. That's all.

Regards
alta
If you want to become a doctor because doctors earn a lot of money, then you'll never become a good doctor. If you are not a good doctor, you'll never make good money. Money is just the by product of any profession. You have to have a passion for your profession. You have to enjoy being a doctor and embrace all the hard work and sacrifice that you have to put to achieve that goal.

As a trader, your first objective is to learn about your profession. Be honest with yourself. If a trade ended in profit because of luck and you had to bend your rules to gain that profit, then that trade was a horrible trade. If a trade ended in loss, but you followed your rules, then that was an awesome trade.

Bottom line.....profit cannot be a determining factor for your own evaluation....!
 
#9
@linkon7

since you are an experienced trader can u tell us how to get started?

i have traded forex demo using metatrader (MT4) for 3 months now
i dont know much about indian equity market,but i
what broker should i select? n how to use this softwares like amibroker/metastock ? are this available for free?

i hope this would help many get started in the market
 

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