Intra day trading and luck..?

SridharB · #1 12th March 2008, 02:14 PM

Hi all,
How do you do intra day trading..? how is your success rate.?
My success rate is almost ZERO...

.
Whenever I do Short selling of a stock ,which was going down rapidly, that stock raises like anything after I do SS ..and leads me to loss.
When I buy a particular stock which was raising ..again..that drops as soon as I buy.

..

Is there any specific methodology in intra-day..? Please provide your tips and help me ....

Thanks,
sridhar

darsh_goswami · #2 12th March 2008, 02:21 PM

No lucks only maths what matters in intraday trading as far as i know .

If u feel ur unlucky then u should better try something else rather then intradays. about tips and tricks ,.. simply go through the awsome posts by Renu_daga, Uashish n some others ,... u will find what to buy n what to sell for intradays there .

best luck
regards,.
darsh

biyasc · #3 12th March 2008, 02:28 PM

Quote:

Originally Posted by SridharB

Hi all,
How do you do intra day trading..? how is your success rate.?
My success rate is almost ZERO...

.
Whenever I do Short selling of a stock ,which was going down rapidly, that stock raises like anything after I do SS ..and leads me to loss.
When I buy a particular stock which was raising ..again..that drops as soon as I buy.

..

Is there any specific methodology in intra-day..? Please provide your tips and help me ....

Thanks,
sridhar

then just do the opposite what you are doing now (with strict stop loss). i had the same problem like yours. but i have changed my view & now doing the opposite with stop losses. & i think i am doing well in these days.

SridharB · #4 12th March 2008, 02:36 PM

Quote:

Originally Posted by darsh_goswami

No lucks only maths what matters in intraday trading as far as i know .

If u feel ur unlucky then u should better try something else rather then intradays. about tips and tricks ,.. simply go through the awsome posts by Renu_daga, Uashish n some others ,... u will find what to buy n what to sell for intradays there .

best luck
regards,.
darsh

hmm..thanks darsh goswami, but just let me explain what I have been doing.
I just look for stocks which keeps buzzing with volume. Then I look for the range of these stocks for around 30 mins and then enter it by either buy/SS.
..I don't know if this method is bad or good ..but it doesn't work for me..

Saint · #5 13th March 2008, 10:39 PM

Quote:

Originally Posted by SridharB

Hi all,
How do you do intra day trading..? how is your success rate.?
My success rate is almost ZERO...

.
Whenever I do Short selling of a stock ,which was going down rapidly, that stock raises like anything after I do SS ..and leads me to loss.
When I buy a particular stock which was raising ..again..that drops as soon as I buy.

..

Is there any specific methodology in intra-day..? Please provide your tips and help me ....

Thanks,
sridhar

A child who has yet to learn how to walk......if he were to look at all of us who walk and try and try and try,and falling down 10 times again and again,and then looks at all walkers as "Plain Good Ol' Luck".....that child will never walk.He has found a convenient excuse not to do so....

If there is something you are not doing right,that does not mean it cannot be done.Instead look around and assess whether it has ever been done......and if it has,then it can be acieved,......then,go about trying to achieve the same!!

Once you have decided that everything,every failure,every mistake.......is your fault,yours alone.....once you remove that onus of Blame from Luck,God, People around you, Bad broker,etc and take all blame squarely on your shoulders.........now go about trying to find where you've gone wrong and move on to great success.

Saint

Saint · #6 13th March 2008, 10:52 PM

Quote:

Originally Posted by SridharB

hmm..thanks darsh goswami, but just let me explain what I have been doing.
I just look for stocks which keeps buzzing with volume. Then I look for the range of these stocks for around 30 mins and then enter it by either buy/SS.
..I don't know if this method is bad or good ..but it doesn't work for me..

Your entry is too late......you are buying when selling would have been the profitable move to take!

Also,if something does not work for you,either tweak it,modify it,dump it.......don't persist with the same mistakes and expect different results!

Saint

SridharB · #7 19th March 2008, 10:03 PM

Quote:

Originally Posted by Saint

Your entry is too late......you are buying when selling would have been the profitable move to take!

Also,if something does not work for you,either tweak it,modify it,dump it.......don't persist with the same mistakes and expect different results!

Saint

Hi Saint,
Thanks for your views,comments...actually I wasn't able to trade this week as I was held up with lot of company work and that's the reason for this delay too..
right now I am still not fully comfortable in doing full time trading and also I don't have any softwares also to view the charts on a daily basis..but I visit this forum often and get useful inputs from you, uasish and other great ppl here...thanks to all these ppl...

but sometimes I do on my own..and that bombs

bjj9126 · #8 19th March 2008, 11:37 PM

Quote:

Originally Posted by SridharB

Hi Saint,
Thanks for your views,comments...actually I wasn't able to trade this week as I was held up with lot of company work and that's the reason for this delay too..
right now I am still not fully comfortable in doing full time trading and also I don't have any softwares also to view the charts on a daily basis..but I visit this forum often and get useful inputs from you, uasish and other great ppl here...thanks to all these ppl...

but sometimes I do on my own..and that bombs

Market is always right.
try to find out where u r wrong !

Intraday Trading is the most dangerous job,
Lot of passion, heavy knowledge & strict decipline requir for Intraday trade.

Before entering in Intraday trading,
first you have to learn about,

* some chart patterns - swing patterns
* fibonacci Levels (For pinpoint support-resistance)
* Candle patterns
* Deep knowledge about some Indicators ( Like Force Index, stochastic Osci,etc)

then enter in Intraday trading,
Your trade can never be wrong,

Otherwise:
YOU WILL NOT HAVE MONEY IN YOUR POCKET TO DRINK EVEN TEA !!

Best Luck

bjj9126
(Prakash)

drpsiva · #9 19th March 2008, 11:45 PM

Quote:

Originally Posted by bjj9126

then enter in Intraday trading,
Your trade can never be wrong,

Otherwise:
YOU WILL NOT HAVE MONEY IN YOUR POCKET TO DRINK EVEN TEA !!

usually in intraday,luck gives you thousands but lack of information and knowledge takes lakhs from you.this is the bitter truth especially for new traders.

.......even with all this knowledge ,sometimes u will be wrong.

otherwise...even if you have money for tea,you will be forced to think thrice for spending on tea..no offence intended.

krishna23 · #10 20th March 2008, 01:42 AM

come on guys who needs tea gimme sum beer

@SridharB

take some time off and evaluate yourself...intra day is quick so u'll need to be fast and decisive to make money...
don't be too greedy that will make u take irrational trading decisions...cut down position size and gradually increase it when u gain more confidence...
and ya always keep stop losses;
short selling can really kill u as ur losses can be unlimited...

all the best!