Is Daytrading dangerous?

kkseal · #**151** 5th May 2007, 02:24 AM

It all boils down to increasing the odds in your favour - whatever timeframe, whichever direction. And yes, cutting losses if it still doesn't work out.

Regards,
Kalyan.

anilbalaji11 · #**152** 6th May 2007, 11:46 PM

Quote:

Originally Posted by rangarajan

My tips for day trading:
i had undergone all the agonies elicited by pksam & finally do the following to realize small profits consistently;
a) trade only in the shares you have.If the position goes against u,give delivery.You can always buy back.
b) calculate the support & res levels with pivot calculator(available in this forum)
c) look at the chart & deside yr entry & exit levels seeing the price,vol &pattern
d)restrict the no of counters to 2-3 max
e)watch the first 5 min ave price & after one hr see where the mkt has been trading,ie below or above the ave price majority of trades & decide the trend & take position accordingly.ie Long or short
f)study the previous charts repeatedly to intrepret.It is an art more than science
g)s/l must.
All said & done,it is better not to Day trade.Delivery is best.But making one rs in day trade gives more pleasure than 100rs in delivery.Why?
ranga

Short in 70% shares u have when the share rises 3 to 4 % . If the trade goes against u and share price rises sell 30% more shares and exit by giving delivery of all the shares. If the shares corrects to more than 2.5 % buy back
it is safe as we can trade without stop.

oilman5 · #**153** 12th May 2007, 12:07 AM

in trading..day is normal timeframe..study it and ready for nextday....weekly..timeframe 5day compaction suggests sameway..good strength with upward bias....then with so easy looking i tell u yes my friend..
kindly smell the rat..watch and be ready to trade with price direction only..and trade to make money ..yes FOR SHORT....UNIQUE UNCANNY ABILITY in ur mind will make u a good nifty daytrader.
[this is against elaboration of idea of a discreationary trader]

uasish · #**154** 7th August 2007, 03:52 PM

http://www.traderji.com/87736-post138.html

"No conflict at all,my friend...........the important word missed is the all important word of "want".To make money,one has to limit one's risks and let the profits ride........to make money,one may be wrong many times but so long as losses are small,and profits allowed to run as long as possible.

If one truly wants to make money,one should give up the desire....the 'want' to be right all the time.Conversely,those whose attention is on the 'want' to be right always tend to take many small profits,and few huge losses....the exact opposite.Their batting averages are fantastic,but not their profits/losses."

http://www.traderji.com/104387-post24.html

Last few days enjoying Day Trading.But still any moment this Statistics may change,hence always remember the inner message in the above posts.

prabhjeetrana · #**155** 7th August 2007, 07:57 PM

Mr. Ashish I Think That It Is Impossible Or In Best Case Scenario Nearly Impossible To Extract Profits On Annual Basis By Day Trading.
If We Keep Strict Losses Then They Always Get Caught, On The Other Hand If We Keep Deep Stop Losses Then A Wrong Trade Will Dig A Really Deep Hole In Our Pockets.
I Think Every Trader Should Trade On Monthly Chart Basis Or Atleast Weekly Charts.

I Think Day Trading Is Shortcut To Bankrupcy

Regards

chansita06@hotmail.com · #**156** 7th August 2007, 09:11 PM

Very interesting & informative

raosrinivas · #**157** 7th August 2007, 11:13 PM

Quote:

Originally Posted by prabhjeetrana

Mr. Ashish I Think That It Is Impossible Or In Best Case Scenario Nearly Impossible To Extract Profits On Annual Basis By Day Trading.
If We Keep Strict Losses Then They Always Get Caught, On The Other Hand If We Keep Deep Stop Losses Then A Wrong Trade Will Dig A Really Deep Hole In Our Pockets.
I Think Every Trader Should Trade On Monthly Chart Basis Or Atleast Weekly Charts.

I Think Day Trading Is Shortcut To Bankrupcy

Regards

No need to think or guess here, it is a reality with available statistical data that more than 90% of day traders get out after losses

http://www.crbtrader.com/trader/v09n01/v09n01a01.asp
http://www.psc.state.pa.us/newsroom/.../winter99.html
http://www.investorhome.com/daytrade/profits.htm

data is compiled and available at many sources

prabhjeetrana · #**158** 7th August 2007, 11:26 PM

Quote:

Originally Posted by raosrinivas

No need to think or guess here, it is a reality with available statistical data that more than 90% of day traders get out after losses

http://www.crbtrader.com/trader/v09n01/v09n01a01.asp
http://www.psc.state.pa.us/newsroom/.../winter99.html
http://www.investorhome.com/daytrade/profits.htm

data is compiled and available at many sources

good work srinivas.keep it up
these links may help keep some novices at bay and hopefully protect their capitals

CreditViolet · #**159** 7th August 2007, 11:56 PM

Quote:

Originally Posted by prabhjeetrana

I Think Every Trader Should Trade On Monthly Chart Basis Or Atleast Weekly Charts.

LMAO!

ratan jain · #**160** 7th August 2007, 11:59 PM

quarterly charts are better, u can avoid a lot of whipsaws if u follow quarterly charts.

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