Will you please help me to be a day trader, you knowledgeble people?

A Ma is just a smoothing of the price line , and has no bearing on future prices . So as I have said earlier dump it.

Dear Asish,
Thanks for your concern! But I am not trying to have unrealistic goal. Is it not possible to earn @Rs. 1000/per day from day trading? I believe it is. So let us help each other to achieve our goals.
By the way I am also a Cottonian. Where are u located presently?
Regards,

Nick

Thanks.I am noticing that the seniors are saying by their experience and knowledge that this the case or that is the point where I'm wrong. That's the thing I wanted and getting from you,CV,oxusmoruz and others.Keep me checking wherever you feel it to be done. . One principle understood. Let's wait for the next.

Dear Swagat,
I have tried to download for 2nd time. But this is what I have come across as given below:

I have a marked a portion within brackets, [ Your IP-address 218.248.70.235 is already downloading a file. You have to wait until it is finished.]. But after a long wait also it is not complete. What has gone wrong? Pl.help.

Regards,

Nick



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Dear HMP,

Would u pl. post the thread by saint?

Regards,
Nick

This is the thread by saint,posted in the subforum of technical analysis called:Trading on technicals.

hi hari09omkar,
no doubt it is a good thread and we will be waiting for youy findings on trading espacially on day trading. if the present dust settles then market may run on some sort of analysis.at that time your findings and results will be useful and appreciating

thanks

Nick,
This is my post in the thread "Is Day Trading Dang....."
{{{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.}}}

To achieve your goal you must go thru a process of learning & survive,but before a single step is taken "First Put The Money Management Module fixed in your brain" .Your goal is possible but be a dedicated Shaolin Temple Monk
with a pinpoint focus for few long months,then slowly promote to higher degrees.However i am a Bengali from Kolkata went to Akhom in end sixties ,when due to Naxalite movement at calcutta educational enviuorment
was tosy turvy,so got myself admitted at Cotton & was residing in 2nd Mess.

Asish

Hariom,
In the thread "Idex with negative bias" my views about MA posted there:
{{{2)After an actual crossover of any kind of MA it is late.I have my own variety
of MA.Each individual's style is different,somebody prefer Median MA etc etc.
Next is the period,which varies from individual style or comfort level.But this
i have seen each individual Stock has its own inflexion point unique.As in Spot Nifty any multiple of 13 period is the best.Try Dabur with SMA it will react better than EMA.For this reason my own coded MA is different which is constantly being optimized.Hence this cannot be standardized,however try tweaking with different type & period of MA on your favourite stock's past data you will understand my logic.}}}

Asish

Dear Asish,

Thanks again for your valuable suggestion and teaching. I shall try to follow your technique.
As I am very new to trading, I would like to from you the following,

1) Does TA help in day trading ? If so, how far?
2) Which are the indicators to be mostly used for Day trading?
3) Can you tell me of any site that gives live real-time data for indian stocks?
4) How to select good stocks for day trading?

I am from Guwahati. It is nice to come accrossomeone like you. I have alot to learn from you.

Regards,

Nick