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Intraday Profit / Loss MGM

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View Poll Results: My MGM Method
Run with Your Profits/Loss ASAP 6 54.55%
Lets Wait for Reversal 3 27.27%
Getting/Lossing 50% on my trading capital . I am DONE 0 0%
Overwaiting for BIG Profit/Loss 1 9.09%
No method . Upar wala karega jo karna hai 2 18.18%
Multiple Choice Poll. Voters: 11. You may not vote on this poll

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  #11  
Old 3rd May 2016, 11:14 PM
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Default Re: Intraday Profit / Loss MGM

Traderacer is last in the race of platform .

I use the usual online form filling for day trading . I am just using icicidirect because of good leverage its providing me . Like today traded (with 2750 blocked for trading) 500 shares of DHFL (short) @ 205.15 and got out @ 204.10 .. because I am foolish .

It fell till 201.20 .. that means lost potential profit of 3*500 = 1500 .
Even if I normalize it at the trend end it would be 202.30.
Sad but true .
Thats why I started this thread , i know many ppl get out of profitable trade too early ..

Help out guys !!


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  #12  
Old 4th May 2016, 03:24 AM
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Default Re: Intraday Profit / Loss MGM

As you have a criteria for Entry, there should be one for Exit too. And the Exit could be either at Target or at SL. Believe me never break the rule of exiting either at SL or Target, else you would be under a pressure to make only profitable trades
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  #13  
Old 4th May 2016, 06:18 AM
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Default Re: Intraday Profit / Loss MGM

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Originally Posted by wabuf View Post
Bro , I think You are correct . But with current high brokerages of icicidirect , i would be broke in couple of months i can only trade 2-3 scripts daily
Go for Zerodha.
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  #14  
Old 4th May 2016, 08:48 AM
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Default Re: Intraday Profit / Loss MGM

Sherbaaz is right, it is a psychological issue as much as a technical issue. Can't advice on the psychology. As for technicals, which oscillators are you using ? Try Money Flow Index and ADX also.

Of course, reducing costs is a fundamental, so maybe changing brokers is a good idea. Lots of discount brokers in the field.
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Old 4th May 2016, 03:12 PM
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Default Re: Intraday Profit / Loss MGM

@sharas
hi,
so one should have a fix tgt . If it gets hit One should leave the script right ? how do you exit your trades , if u dont mind sharing

@time pass

Hi ,
How can one ride the trend ?? I use MACD + RSI . thats it . How can one judge that this "123" profit is enough for my investment . I mean should there be any % return on investment ? Like 10 % , 30 % , 50 % return ? Is there any indicator for trend exhaustion. ?

Indicators for trend reversal might be very helpful I think .!
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Old 4th May 2016, 03:24 PM
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Default Re: Intraday Profit / Loss MGM

Quote:
Originally Posted by wabuf View Post
Bro , I think You are correct . But with current high brokerages of icicidirect , i would be broke in couple of months i can only trade 2-3 scripts daily
Quote:
Originally Posted by Mungus View Post
You have a Scalping Mindset.Quick-in,Quick-out Type.
With a Scalper Mindset,Trend Ridding is more dangerous than Horse Ridding.
Because you scalp in a trend and trail in range market.

Tugduk Tugduk Tugduk
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  #17  
Old 4th May 2016, 04:20 PM
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Default Re: Intraday Profit / Loss MGM

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Originally Posted by Mungus View Post
With a Scalper Mindset. .....
Tugduk Tugduk Tugduk
lol that comment though . Back to question. Does donchian channel help ride the trend ?? Anyone using it ..??
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  #18  
Old 4th May 2016, 08:02 PM
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Default Re: Intraday Profit / Loss MGM

Quote:
Originally Posted by wabuf View Post
@sherbaaz

Hi , do you have any indicator that tell trend exhaustion , or reversal might occur , other than waiting for DOJIS to occur ? or Do you have any book that explains how to ride a trend ???? Any psychological material is welcomed
as per my exp one book you can read on psychological aspects of trading is "trading mindfully" by gary dayton. for me its the best book written on the subject of trading psychology.

you cannot think mkt in isolation like trend exhaustion or reversal point or in dojis. you have to think in totality.

on stand alone basis no indicator can work. IRONY is all popular indicators work and work quite well PROVIDED you know its working and MOST IMP you know market structure. MKT STRUCTURE for me is the most imp thing.

regds,s
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  #19  
Old 4th May 2016, 08:12 PM
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Default Re: Intraday Profit / Loss MGM

Thanks will check this book
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  #20  
Old 4th May 2016, 10:42 PM
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Default Re: Intraday Profit / Loss MGM

WABUF you are scalping, you should try to open a trade and stay away from the marker and check it at the end of the day. That will help you with fear . Don't forget to use stop loss

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