My Trade Dairy - mravi

On the contrary, I think it was smart of him to get out while the position was in profit, and there was a known upcoming event which could skew the numbers either way. If he still believes in upside in Axis, he will find another convenient point to get in after a careful review, rather than take any decision in the heat of the moment.

After RBI announcement - Went long on
1. DISHTV @ 60.80
2. SYNDIBANK @ 113.20

Closed position on DISHTV today @ 63.30.

SYNDIBANK did not move after I entered. Kept sell order @ 113 as I will not be able to spend time today on trading terminal. I could not post charts for DISHTV, SYNDIBANK as it has been hectic for last 2 days.


Thanks to Ryan and timepass for your comments.

Dear Timepass
Either you did not read my comment or you misunderstood it ... I am clearly say that after the event has occured the stock goes from 1190 to 1225 and then comes back to 1190 , trading is not about being right or wrong and for that matter its not about being smart getting a small profit its about doing the right thing , the right thing here according to me was to buy back the lot sold earlier since now the news is confirmed and positive .... buying at 1180 and selling at 1190 and thinking that i am playing it safe here is actually risk here because this trader had bought it 1180 and it had gone close to 1155 on friday in a falling market if the trader can take that risk he should be able to atleast risk the profit and buy the pullback at 1190 so the risk reward makes sense , getting out before a news event is perfectly fine getting back in is equally important.

Following stocks seems interesting to me.
1. SESAGOA
2. CUMMINSIND
3. RENUKA
4. IRB
5. DISHTV
6. HCLTECH

Still holding onto SYNDIBANK position.

Thanks Ryan keeping a watch on what I am doing. Whenever I see your messages I am going back checking my actions. Hopefully I will learn sooner than later - and stop repeating my mistakes. Thanks for your time.

Hey mravi ive gone through the same phase your going i wished there was some one to advise me when i started .... i try my best to guide(give ideas to) people when they are trying to learn skills ... although my ways and words are a bit rough , sweet talk actually kills people in this market ..... i am glad you don't have ego issues and have a good aptitude to learning and listening.

"I am going back checking my actions" these are the key words for you always check back on your work and judge it yourself ... but its also good to get other relevant persons take on it ... at this time the only thing ill tell you is dont look to make money if you are really passionate about it look to build your skills ... if its a hobby for you thats all you will get entertainment.

Anyways , your syndicate bank i just checked the charts , it looks good long term , but for you to stay in the trade you have to ask your self y you were in the trade, if the reason you were there no longer exists then get out ... if you were in just for the heck of it then also get out you might make a random profit on this trade , but remember next time ull make the same trade ans market will take the random money and some more as tuition .

anyways my take it its been stuggling to get above 115 in cash market for like 2 weeks above 115 looks good to get there it will need a catalyst volumes are so low in the last 3 days that it looks like it will just flow with the wind wherever the general market goes it will go there , so you decide the scenarios on why you should be in it ?

Thanks a lot for sharing your experience Ryan.
Net is down for last two days. So no update.

As far as trades are concerned I exited the position in SYNDIBANK @ 110.30.

I took LONG position in RENUKA @ 32.80. But I made a mistake while taking this position.

1. I took position near month. Wich is 4 days away.

2. I took the position blind sighted. The moving average convergence/divergence indicates a sell on this one.

The above two just shows my ill decipline. And I will work on it.

So action plan is to exit as soon as possible.

I am hoping that market may move to positive and when odds are favorable I will go LONG again RENUKA in MAY Futures.

There seems to be news flow coming in sugar stocks.

The other point is I am feelin I am chasing stocks. I will have to restrict myself to few stock which I understand and built convition.

Ryan,
Not reentering into AXISBANK shows this weakness I think.

A bad trade with an emotional entry combined with troubles from brokers site - Lost money in RENUKA. Sqr. off the position @ 31.25.

Now waiting for my Buy/Sell signals to occur in the stocks I am interested in. One thing is so surprising

ACC, TATASTEEL, CUMMINSIND are in my watch list, right now.

Will take positions in MAY futures when I get a chance. Right now sitting in cash.

Went LONG on ACC @ 1242 in MAY 2012 Futures. Hoping to achieve 20 to 40 points. This time there is a buy signal MACD. Stop loss is 2k.

Also watching DISHTV TCS RENUKA TATASTEEL TATAGLOBAL for buy signals.

I hope you got out when your stop was hit .... you found the top in this trade... Think about this for a second if Macd was the only way to trade then the whole world would have sat on computers waiting for macd signals...trading is not that simple and looks like you are hell bent on finding it the rough way , Its a well know fact that 95% of stocks move with the general market the other 5% are either to good companies with good earnings or easily manupulated ... the general market has been gettting bad news after bad news its keeps on piling and it falls every day , on top cement stocks may get fined , on top of that ACC had earnings a few days back and it reacted negatively to it going down to 1200 where there was a lot of buying intraday and it reversed for that day , before the buying at 1200 there was a hell lot of institutional selling ..... now you calculate the odds..... if you had to tell your MACD it probably would have given you the next buy signal after 3 months ... I am not saying your trade is wrong every trade if followed with a plan is a good trade but calculate the odds , your winrate will be close to about 20% for this setup .... and ofcoure you want to fight with institutinal players they sell and you buy from them ....

But then again trading is not that simple you have to make a trade if you want to make some profit , so a good plan would be below 1200 a key level if it stays there after open tom that is after 10 i am short the stock , i need to see selling first to enter , stop loss will be about 3to 5 rs and look for 15 rs on down side this is after 10 , on the open before 10 if it pops to 1225 ill get shrot below 1225 for a move to 1200 or lower ..... this is a higher probability trade and has a good chance atleast 60% probability .... of course for this to happen nifty has to be in range or trending down and below 5225 , i am satisfying everybody over here , if institutinal guys panic they are with me and ofcourse guys like you will sell to get out of your stops after trying to fight the trend now you tell me the win rate for this setup .... remember a rally in a weak stock is a chance to get short , its does not make sense to buy here , of course if all changes tom and acc goes to 1500 ill be looking for it to come back to 1450 and buy it , you macd will generate a sell signal most probably