Trading with a sting

Scorpion King

Scorpion King

Active Member
#1
#1
Hi everyone,

I am Scorpion King. I am complete new in this jungle of trading. When I got interested in this field, I heard a strict NO from everyone whom I asked bout this line. May be its like a fire where you can cook your food and can get cooked as well :D. But even I do not know what made me more and more interested in this area. So I started learning about markets, and its scenery.

Got to know about trader ji forum few months back. Got inspired to start my thread as I started trading from today. I have very basic idea on market, and I look for learning and improving from fellow experienced traders. Since I am very new and have little experience in this line, I am not comfortable with starting with a big money. So I am starting trading with only 20K. I don't mind if I loose this money completely. But my aim will be protecting the capital and learning.

Thanks to one of my friend (who have very bitter experience with markets), but thankfully he helped me in choosing a good broker and trading platform. He also guided me in learning basics of Technical analysis. And with all my enthusiasm I got started today.

I will be doing only intraday trades in equity market. From today I started my journey. I will be posting my trades, profit/loss at the end of the day...

Warm Regards
Scorpion King
 
bunti_k23

bunti_k23

Well-Known Member
#2
#2
Pehli ball pe sidha chakka marne ki soch rahe ho beta , pehle higher timeframe pe test match khelo skills badhao fir sochna 20-20 ki...:lol:
 
B

brigs

New Member
#3
#3
Good luck. I will be following your posts and progress closely because I'm a newbie as well and almost on similar lines of thinking. Please do post on your approach on selection on the stocks and how you plan to deal with them
 
Scorpion King

Scorpion King

Active Member
#4
#4
I was tracking TATASTEEL, TATAMOTORS and DLF today. Took only one trade in TATAMOTORS. After this trade I could not track any other stocks, as I stay focused to TATAMOTORS chart.



Shorted below 1st 5 min bar's low at 411. Stop loss was placed at 415. Price went up a little with falling volume, and then donw-trend resumed. The falling trend line, and 4 touching of trend-line with tail projection showed the down-trend continuation.

At 1:45 PM price took out the day's low. Exited half of my short position at new low at 409. Exited the rest at 2:05 PM when break-out failed at day's low.

Average exit price = 409.40. Total shares bought was 20. Net profit for the day = 32 rupees

To be precise, my starting capital was 20,400.00
Current capital = 20432.00

Warm Regards
Scorpion King
 
Scorpion King

Scorpion King

Active Member
#7
#7
brigs said:
Good luck. I will be following your posts and progress closely because I'm a newbie as well and almost on similar lines of thinking. Please do post on your approach on selection on the stocks and how you plan to deal with them
Click to expand...
sea Eagle said:
Do you follow only 5 min chart or any other higher or lower time charts also
Click to expand...
One of my friend who was earlier in this line taught me few basics of technical analysis. He taught me on support, resistance, trend line, break out, break out failure, over bought, over sold etc. He told not to ad ata ll any indicator and to focus on price and volume only.

With his assistance I am trying to trade 5 min chart. I look at only 5 min chart and its short term trend. I do not know much on stock selection criteria, He just told me that TATMOTORS, TATASTEEL, DLF, SBIN are few good stock s to trade intraday.

Out of my 20K, I am keeping 10K as backup, and my trading margin is 10K. Is there any rules on selecting stocks for intraday purpose ??
 
Scorpion King

Scorpion King

Active Member
#9
#9
Today I was tracking SBIN, TATAMOTORS, TATASTEEL, DLF. Did 3 trades in TATAMOTORS, TATASTEEL, and DLF. Net closed in green.



Took long position in TATASTEEL with 20 shares above 1st 5 min bar, with stop loss below 1st 5 min bar. After few minutes of ups and downs, it stated moving up. Exited all at 350 as it hit the stop loss.



Took short position in DLF with 60 shares below 1st 5 min bar. Stop loss was placed above 1st 5 min high. The trade did not work out. trailed stop loss hit at 137.6. Exited all.



TATAMOTORS broke its intraday down trend around 12:50 and turned up. Took long with 20 shares at 412, Stop loss was at 408. This trade went up like rocket. Exited at 418.5 with spike in volume.

Out of 3 trades, made profit in 2 trades, 1 did not work out. Net made 110 rupees..

SK.
 
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