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Is Daytrading dangerous?

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  #21  
Old 25th September 2006, 08:52 PM
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Default Re: Is Daytrading dangerous?

Dear Global Gyan,
I am only a two days ago registered member of the forum. Unfortunately I am using icicidirect.com as my on line broking house. After reading this string I want to request you to suggest a better on line broking house, can you oblige? Thanks


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  #22  
Old 27th September 2006, 11:39 AM
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Default Re: Is Daytrading dangerous?

Quote:
Originally Posted by sharantaka View Post
Dear Global Gyan,
I am only a two days ago registered member of the forum. Unfortunately I am using icicidirect.com as my on line broking house. After reading this string I want to request you to suggest a better on line broking house, can you oblige? Thanks
Hi Sharantaka,

There are lots and lots of discussion going on in "Brokers and Demat..." section. Please go through them. That will help you by giving all pros and cons of each brokers.

Praveen.
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  #23  
Old 25th November 2006, 11:56 AM
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Default Re: Is Daytrading dangerous?

Quote:
Originally Posted by kgsirasangi View Post
I have come across following interesting article on day/futures trading strategy in the following thread

http://www.profitfromus.com/ForumRea...pic=185&page=2

quote

from aryanshare

Day Trading Strategy


Despite what some people may lead you to believe trading is not anywhere as difficult as they would like you to think. It really boils down to two key components. FEAR & GREED.Once you have these two emotions under check, everything else falls in place.. I am listing out my views and my system of trading. It has worked 8/10 times for me, which is good enough for me.

The first and basic step prior to becoming a day trader is apprentice period .

First and Foremost buy a 292-page book. Select Five stocks, which you would want to trade. I would recommend ONGC, RELIANCE, INFOSYS, TISCO, and SBIN. Divide your notebook into 6. Note down the open, high, low, volume, average traded price, %, closing price studiously everyday. The sixth stock would be Nifty.

Once a week note down in a different book the weekly high, low, average traded price and average volume of the stocks you trade. Repeat the exercise on a fortnightly and monthly basis.

In about 3 months time, you would have weekly, fortnightly and monthly data to identify a breakout, either on the upside or downside. It would also give you a hang of the stock, you would start understanding the price pattern. It would also enable you to interpret the stocks based on volume. If a stock is coming down with thin volumes, there is a clear indication of a price reversal and vice versa.

For Starters those interested in Day trading can make this effort. I am sure you would be able to feel a lot more confident once you start to follow this routine of noting down things. Believe me after few years this data which you would have, would be a virtual goldmine.

Ninety five percent of everything you hear from everyone about the markets and the markets "reasons" for doing what it did or will do are lies. Neither you, anyone nor me can predict the future. You can only make educated guesses about potentialities.

There is success to be found in both bullish and bearish views of the market. I believe that the trader who becomes active in both bullish and bearish positions has more fun and finds more opportunities for success.

If 90% of all traders lose money, they must be following generally accepted trading rules. The 10% who win do not!



My Futures trading module.

I pick a Future lot at its monthly support. For ex I got into ONGC at 830 levels. Everyday I sell it and buy it back at a profit of 3-4 rupees. I trade around 4-6 times and I make about 15-20 rupees per share. A lot size of ONGC is 300, hence a daily profit of 5-6 thousand. I buy shares worth 5-6 thousand in cash. ( 6-8 shares ), which are zero cost !!. I repeat this exercise everyday, My concentration is only on ONGC and I study the charts pretty in depth for the stock and watch the market movement and try to sell it a resistance point and buy it a support. In one month of trading in ONGC futures , I have added about 140 shares of ONGC in CASH !!. The investment that took me to buy shares worth 1.25 Lacs in less than a month was 26 k ( span margin for one lot of ONGC ). 400 % returns in a month.


I shall let you all ponder on this for the next few weeks and hopefully all the interested day traders would have entered 10 days of data in your books.

Enjoy the Weekend.

....I count him braver who overcomes his desires than him who overcomes his enemies, for the hardest victory is victory over self.

unquote

note : paragraph in bold is highlighted in bold by me.
Very well said. Tracking the fluctuations of few stocks only is most advisable for intrday players.

Another thing I have noticed is that since the knowledge has to be applied real time, automated tools, like programmed screeners can make a big difference. Developing a mechanical system and coding it in one's software can be very helpful since it will not let the emotions play much.

Regards.
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  #24  
Old 25th November 2006, 06:59 PM
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Default Re: Is Daytrading dangerous?

YES , it is dangerous....
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  #25  
Old 25th November 2006, 11:02 PM
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Default Re: Is Daytrading dangerous?

If you do not know how to swim, you will drown whether its a pond, river or a sea.
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  #26  
Old 26th November 2006, 02:40 AM
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Default Re: Is Daytrading dangerous?

Actually Daytrading is the most relaxing and the easiest way to make money in the markets.Not sure what's all the fuss is about


CV
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  #27  
Old 26th November 2006, 10:18 AM
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Default Re: Is Daytrading dangerous?

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Originally Posted by beginner_av View Post
If you do not know how to swim, you will drown whether its a pond, river or a sea.
yes ,it is dengerous
but u shold have follow certain rules
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  #28  
Old 26th November 2006, 12:04 PM
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Default Re: Is Daytrading dangerous?

TRADING is dangerous per se. Adding ...day...position....swing....breakout...countertr end.....pullback....system....discretionary....str ategy....options....futures....synthetic....and whatever you can think of, before the word TRADING, will not make it more or less dangerous. Every kind of trading needs its own rules, discipline, entry and exits, infrastructure and trade management. Some people do certain kinds of trading effortlessly, but struggle to do other forms. it depends a ot on personality. hence its better to do the kind of trading that suits u. if u do not know what kind of trader u r, refer to bret steenbergers articles...posted by CV and sivakm in some other thread. you should find out the type of trader u r first, and then do it accordingly...dont get fixated to any kind of trading for instant rewards etc. Remember that in every form of trading, most traders are losers...and in every form of trading there are immensely successful traders.
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  #29  
Old 10th December 2006, 09:53 PM
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Default Re: Is Daytrading dangerous?

To sum up, yes daytrading is dangerous. Actually one can never make money in it. I basically sit on my butt 80 hrs every week so that I can lose money daytrading.Its my way of contributing to humanity.


CV
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  #30  
Old 11th December 2006, 08:11 PM
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Default Re: Is Daytrading dangerous?

oh it is dangerous no doubt at all but then so is crossing the road .....very small children who have a tendency to just dash across without looking left or right do get run over quite often....as you grow up you learn to follow the signals and generally make it across safe.....that is the key know the rules follow them diligently but most important keep your eyes open and be deft enough to dodge that occasional drunken driver.....

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