Is Daytrading dangerous?

CreditViolet · #91 30th January 2007, 07:37 PM

Quote:

Originally Posted by kkeskar92

Hi CreditViolet,
Can you tell me whether RT data can be downloaded from QuoteTracker to Tradestation prosuite?---KK

hi kk
Not sure if that is possible. Realtime data in Prosuite has to be GlobalServer format for it to work.

Rgds
CV

Lux007 · #92 17th March 2007, 10:37 PM

Yeah, Day trading is pretty dangerous...

Being a new trader I lost few thosands in day trading..

Later on i realised day trading is all about
1) Planing when to enter and exit market.
2) Most of time you should be watching market.
3) Max 2-3 attempts
4) Have a very strict money managemnet plan..
ie. when u trade u must know how much u can lose or gain..
5) Finally but not least -----> Control ur Mind..
bec of point 5 i lost 90% of my capital and rest 10% because of
market random movement.
Finally i did some home work using Excel and now making good recovery i will say.

-----------------
This is my signature

uasish · #93 18th March 2007, 11:12 AM

Hi,
Out of 10 trades ,sucessful peopl's loose 7 out of 10 times in Day Trading.
Here money mgmts teps in ,to wriggle you out of loss.How ? Entry at support
points with SL paced below .5 % now REWARD has to be 4 times that means prior to entry the
resistance point has to be above 2% of support (otherwise forget that scrip).
Now after entry if stock rises 1% ,incresae your SL by + 0.1%,make this a habit,continuously modify .When Tgt achvied (bid price not offer price) get out in mkt order,cancell the SL also.

So your loss in 100 trades .5 * 70 =(-) 35 %
win in 100 trdes 2* 30 = 60%
Now empherically all your 1st 70 trades can go wrong & remaining 30 % right.
So initiate 20 % of your CASH capital not EXPOSURE capital,now the equation is
Say 100/= my Cash.
20/- 70 times loss = - 35% of 20 = (-)7/
20/ - 30 times profit = 60% of 20/ =+ 12/-

So 5/ = 5 % in a month (100 trades in a month = 4 trades *25 days.
After minimum 10 months ,you lift the self imposed embargo of only 20% of your capital to 30 % .
Never take overnight delivery while doing Intraday(99 % falls in this trap),even if your stock is
going Gr8 guns,remember tommorrow we may get it below your todays exit price(exited at 3.28pm)at next day opening bell (70% times),so why pay extra brokerage.
This is my suggestion to all new Day Traders otherwise all of us will become
fodder in this mkt.Earning consistently 5% per month is far far better than be a member of extinct specis.

Asish

hmp · #94 18th March 2007, 05:37 PM

Dear Uasish Good One. New Day Traders Can Easily Implement Your Money Management Plan.
Regards
Hmp

puma · #95 18th March 2007, 06:08 PM

Hi friends,
I have been trading since last 8 years. I have lost lots of money in day trading in initial years simply because of not putting stoplosses or cancelling the stoplosses and ultimately forcibly carryforwarding the trade for the next day in f&O and building up the losses.Well now i have learned to put stoploss and minimise the loss !
My experience says that Day trading is definately dangerous if done without tight stoploss and my belief is that majority of day traders make loss !

raju600005 · #96 18th March 2007, 10:15 PM

Dear Mr Puma

You have not specified how you put tight Sls and also whether you are making profits in daytrading now,

balaa11 · #97 18th March 2007, 10:39 PM

i have seen types of trading which has its own pros and cons
1.Day trading
key is to pick right one and follow strict discipline of SL and target and pick basket os stocks recommended for overall profit rather than guessing on our own or better to do in Nifty futures alone which is less riskier

2.BTST
it is good when market is bullish and has clear direction ..it is risky when the global cues are bad and changing frequenly..you lose heavily when the US or asian market are bad.it happened to me number of times..so i came out of this

3.Positional based
you should have patience to hold on and pick the right one and SL will be deep and loss will be more and so is the profit.if you get right recommendation from someone with high success rate you can venture into this one.same for all 3 types mentioned above.

just thought of sharing my experience ..

innocent_trader · #98 21st March 2007, 06:20 PM

Quote:

Originally Posted by Lux007

Yeah, Day trading is pretty dangerous...

Being a new trader I lost few thosands in day trading..

Later on i realised day trading is all about
1) Planing when to enter and exit market.
2) Most of time you should be watching market.
3) Max 2-3 attempts
4) Have a very strict money managemnet plan..
ie. when u trade u must know how much u can lose or gain..
5) Finally but not least -----> Control ur Mind..
bec of point 5 i lost 90% of my capital and rest 10% because of
market random movement.
Finally i did some home work using Excel and now making good recovery i will say.

-----------------
This is my signature

hi Lux007,
you are absolutely right, i also lost over 85% of my money in day trading, now i have stopped day trading, am going with swing trading and btst, both work best for me i suppose. hope to recover at least 50% of my capital this year.

puma · #99 22nd March 2007, 09:05 AM

Dear Raju,
I put my stoplosses based on supports and Res based on previous days prices. I also take support of charts. Now i make more Profits and fewer loss due to applying stoplosses.

Quote:

Originally Posted by raju600005

Dear Mr Puma

You have not specified how you put tight Sls and also whether you are making profits in daytrading now,

adamke · #**100** 6th April 2007, 02:25 PM

Hi,

I had recently taken sub brokership and can do day trading in clients account. Is there any method in day trading to earn brokerage with little profit?

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