Day Trading Stocks & Futures

[lemondew]

Thats ok friend a small loss. There is always some kind of loss happening. slippage loss/opportunity loss/ sometimes loss due to order not getting filled. Hence real trading is slightly different from backtesting. But market can give us very get good swings which will may help us beat the last few years backtest.

After 3:05 price refresh stopped completely for 10 mts. Only crude and silver were blinking on screen. But there was a problem from 2.30. pm... Option prices were changing on Market watch, but they were incorrect ( probably in lag ). If we open best 5 snap quote, prices were clearly different with price on market watch. Same problem was there in morning also immediately after market open. ( But strangely in morning only put prices were incorrect, & call prices were updating correct).

Equities I dint notice. Unnecessary 4 k loss for me today.....

Finvasia support was bad. ofcourse it is incorrect to expect service from free service broker.

Problem is not just opportunity loss. It was more than that.

Below is todays scenario: All please read, may come to use in your trading:

I was Long CE & PE 5 lots each side. When rates were not updating, I squared off the whole open position from Net position window. This square off got triggered and my position was closed. But the terminal Net position window did not reflect this and it showed the position still as open ( +5 lots ce & pe) Then, thinking that the position was open, I again placed sell orders in market 5 lots ce & pe. Again No message on order status , And still I see the net position as open (+ 5 lots ce & pe)

Not understanding what to do I called finvasia and no one picked the call ( trade desk ). Closed the terminal and logged in again twice. Then it was working and I saw My Net open position was SHORT 5 Lots CE and price increased by 10 rs from short price. Squared off in market with Net -4 k in that trade.

What I understood was, first when I squared of both ce & pe, both got executed and my position became zero. (But terminal did not update the order/net position status). Then, when I sold 5 lots ce & pe in market, only CE short got executed as I sufficient limit only to write 6 lots. So ce order of 5 lots was taken and pe order may have got rejected.

what ever it is, it is unnecessary risk and not in our hands.

 

[mohan.sic]

Thats ok friend a small loss. There is always some kind of loss happening. slippage loss/opportunity loss/ sometimes loss due to order not getting filled. Hence real trading is slightly different from backtesting. But market can give us very get good swings which will may help us beat the last few years backtest.

Agree all this slippage/liquidity issues are part of game. I face slippage issues in more than 50% of my option trades. But we can manage or hit market orders if slippage is increasing. But if we are already in trade and its closing time and terminal is sleeping.... and we don't know what is the status of our positions AND don't know how many hundreds of points gap up/down open can happen in this situation, mind goes blank..... just see what would have happened if my short ce 5 lots were carried and tomorrow market opens +200 points...we never know ..anyways just sharing as could be useful as caution...better change the default setting to MIS and avoid punching in NRML.

 

[Self-employedTrader]

how can you say TA gaya crude leney and get away with it.
Don't you think , he needs to know the right perspective

Bhai, i'm truly sorry if i hurt your views.. i shouldn't have posted a sentence like that, but it came out from me as i too was surprised of Nifty's action yesterday. To console, i'd share a story with you which i got from another group some time ago. Please, kindly go through it and reply your thoughts..

//

A Small Story !!!

There was a technical analyst, one of the best, but he couldn't find success as a trader. So, to make ends meet, he joined a big financial institution as chief technical analyst. The chairman of the firm was an old-fox who had spent all his life trading on the floor and didn't know a thing about technical analysis. So, once the chairman asked the technician to show how charts work and how does he trade using them. The technician swelled with pride that he got a chance to teach things to the billionaire chairman of the firm and it was his golden ticket to impress him and rise within the organization. So with a base of maturity in his voice, the technician started showing the chart of Soybean to the chairman and started explaining that this is the support and resistance for the day, based upon the range analysis and if price comes down to this support level, the price is bound to go up from there. The chairman asked that why it is "bound" to go up from here? Technician replied, "Well, because that's how supports work." Within few minutes, the price came down to the support. The chairman picked up the phone, called his broker and gave the order to sell 2 million Soybean (bushels) at market. And in a moment, the price broke the support and started plummeting like there's no tomorrow. The chairman turned to the technician and said, "Son, if I can do this to your chart, anyone can".

Lessons:
1. Anything can happen.
2. Do not get married to opinion.
3. Analysis is not trading.
4. Risk management is the primary task.
5. There are no "WILLs" & "SHALLs" in the market, just probabilities.

//

Investors and traders are the kings/queens of market in my opinion. Technical Analysis is only a strategic adviser. This was my perspective then...

Edit: I'm sorry i didn't see your posts then, as you didn't tag me. i'm doing nightshift and was sleeping.

 

[XRAY27]

Thats ok friend a small loss. There is always some kind of loss happening. slippage loss/opportunity loss/ sometimes loss due to order not getting filled. Hence real trading is slightly different from backtesting. But market can give us very get good swings which will may help us beat the last few years backtest.

Back testing !!! Have you ever covered the concept of stress test...if not !! study it, backtesting will be almost realtime trading with 1 to 2 % difference,which is negligible ...,problem is people know the term back testing but real content they go through is just 40 %..hence they suffer in real time trading

 

[ksathis]

Big Buy FII

 

[lemondew]

Agreed I would be fumbling too if I were in NRML mode. But ideally one should relax and take an informed decision. Kindly include this scenario as part of your trading plan when you trade today.

Agree all this slippage/liquidity issues are part of game. I face slippage issues in more than 50% of my option trades. But we can manage or hit market orders if slippage is increasing. But if we are already in trade and its closing time and terminal is sleeping.... and we don't know what is the status of our positions AND don't know how many hundreds of points gap up/down open can happen in this situation, mind goes blank..... just see what would have happened if my short ce 5 lots were carried and tomorrow market opens +200 points...we never know ..anyways just sharing as could be useful as caution...better change the default setting to MIS and avoid punching in NRML.

 

[nil.nik.9777]

Both CE and PE are in positive

 

[RadhuK]

Yes Bank opened at 90 and got down to real level. Freak trade. or means big guys expect 90 levels

 

[nil.nik.9777]

Yes Bank opened at 90 and got down to real level. Freak trade. or means big guys expect 90 levels

high in Zerodha is 55.45 for today so far not 90

 

[KAL.YUG]

Bhai, i'm truly sorry if i hurt your views.. i shouldn't have posted a sentence like that, but it came out from me as i too was surprised of Nifty's action yesterday. To console, i'd share a story with you which i got from another group some time ago. Please, kindly go through it and reply your thoughts..

//

A Small Story !!!

There was a technical analyst, one of the best, but he couldn't find success as a trader. So, to make ends meet, he joined a big financial institution as chief technical analyst. The chairman of the firm was an old-fox who had spent all his life trading on the floor and didn't know a thing about technical analysis. So, once the chairman asked the technician to show how charts work and how does he trade using them. The technician swelled with pride that he got a chance to teach things to the billionaire chairman of the firm and it was his golden ticket to impress him and rise within the organization. So with a base of maturity in his voice, the technician started showing the chart of Soybean to the chairman and started explaining that this is the support and resistance for the day, based upon the range analysis and if price comes down to this support level, the price is bound to go up from there. The chairman asked that why it is "bound" to go up from here? Technician replied, "Well, because that's how supports work." Within few minutes, the price came down to the support. The chairman picked up the phone, called his broker and gave the order to sell 2 million Soybean (bushels) at market. And in a moment, the price broke the support and started plummeting like there's no tomorrow. The chairman turned to the technician and said, "Son, if I can do this to your chart, anyone can".

Lessons:
1. Anything can happen.
2. Do not get married to opinion.
3. Analysis is not trading.
4. Risk management is the primary task.
5. There are no "WILLs" & "SHALLs" in the market, just probabilities.

//

Investors and traders are the kings/queens of market in my opinion. Technical Analysis is only a strategic adviser. This was my perspective then...

Edit: I'm sorry i didn't see your posts then, as you didn't tag me. i'm doing nightshift and was sleeping.

That TA (in the story) did not tell the millioner/market maker what would happen if the support levels break? About concept of SL and what should be the new positions (exit and entry)?

Yes, it is a story and it purpose is to educate .... we should learn from what is evident and also from what is visibly not evident.

A story teller will always tell a story from his/her perspective