This works for me - Seniors please advice if I am right

Hi to all, this is my first thread in this forum. I am not a full fledge trader, but recently started trading and am doing good thanks to this forum and the seniors advice which are posted in the forum.

I have made an excel sheet which I use when I am trading, as the money which I invest is less, so the profit also is not much as what you people make.

Please advice do I need to change something in my excel sheet or should I continue using the same, as I have no problem using the same one and its really helping me a lot. Only the stop loss trigger I dont use it when I tracking the ticker.

Seniors please advice and/or if you have any similiar excel sheet please upload the same.

Thanks
rajendrani

Try this.... when Any stock Breach Hourly High or Low then take position in same direction and trget 1% Excluding brokerag.... also keep stop loss of 1% or Low/ High of the day....try to do this with first High/Low......it is more of a scalping..once get expert try to increase the Quantity size......must have Previous day High, Low and close Levels.

The more time stock take to breach Day high/ Low .. far it will go in same direction..

Todays Example.... Reliance..once 1825 was taken out..it filled the Gap of 1848..and then no stop..

Chintan

Chintan,

Congratulations on your new system. Work with what works for you. Be confident without greed or fear. You will have success only. Wish you all the best.

I am no expert to comment on your method. Wait for seniors to pitch in and opimionate.

vps

Thanks chintan will try to use your method, seems to be easy and interesting.

I don't think that peoples can earn money with day trading.For e.g First 1-3 days you will book profit and thereafter one day you will book big loss. It is not advisable to do day trading at all.

sesagoa,
If you know the concepts of day trading you should day trade FUTURES- NIFTY and STOCKS. I have seen(live) people making more than 60K to 1 lac a day continuously for 10days.

The system is taught in this forum and many like me are learning it.

vps

Just See Reliance Today .... after breaching 2010... straight hit the target of 2030...

Cheers

Chintan

Sesagoa, I understand its hard to earn money with day trading, but there are people who do it, when others can, why cant I?

So, I am not giving up and I am also not getting carried away with my profits.

Today I made Rs. 600.00 in intraday, I am happy with that.

I know its very less, but I am still happy with my small share of profit because my leger balance is only 3500.00

Thanks chintan, your strategy works with low and high, will keep working with that strategy.

Today I made Rs 12,500 on paper trade in futures of Nifty and JPAssociates using the methods that are taught here. Isn't this better? If I were to start small and trade live with my money I would have made Rs 6250/- today. This is the strength of learning and practicing on paper before you go live. Compare this to regular losses of the range of Rs 10000/- to 15000/-per day I used to mke for days together in daytradng when I started 6 months back. Now I am much more confident and will not lose so much money.
vps