Intraday Profit / Loss MGM

Traderacer is last in the race of platform . :rofl:

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 !!

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

Go for Zerodha.

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.

@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 .!

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

lol that comment though :lol: . Back to question. Does donchian channel help ride the trend ?? Anyone using it ..??

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

Thanks will check this book

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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