Day Trading Stocks & Futures

[TraderRavi]

Reliance, kotak, bajajfinance all in red

 

[travi]

Reliance, kotak, bajajfinance all in red

hdfcbank holding them up.

But in non-financials, good rally. Titan, pizza, eicher all running.
Asianp hopefully ab 1700

 

[TracerBullet]

@travi and @TracerBullet

Following is the excerpt from Mark Douglas's book Trading in the Zone. Chapter 11 First paragraph.
I am sure you might have read this book.
------------------------------------------------------

In the process, I'll take you through the three stages of development of a trader.
The first stage is the mechanical stage. In this stage, you:

1. Build the self-trust necessary to operate in an unlimited environment.
2. Learn to flawlessly execute a trading system.
3. Train your mind to think in probabilities (the five fundamental truths).
4. Create a strong, unshakable belief in your consistency as a trader.

Once you have completed this first stage, you can then advance to the subjective stage of trading. In
this stage, you use anything you have ever learned about the nature of market movement to do
whatever it is you want to do. There's a lot of freedom in this stage, so you will have to learn how to
monitor your susceptibility to make the kind of trading errors that are the result of any unresolved self valuation issues I referred to in the last chapter. The third stage is the intuitive stage. Trading intuitively
is the most advanced stage of development. It is the trading equivalent of earning a black belt in the
martial arts.

No, i haven't really read the book, instead was just following traderfeed. Psych issues have reduced a lot once i made the change.
Previously i too had this notion of discretionary style being better, being tougher. It is tougher, but i have discarded the idea of it being better. Its just different.

It probably depends on personality traits, someone who wants to be in control from trade to trade would be more suited to discretionary style. I think i prefer a more portfolio outlook of multiple systems and letting them do their thing day to day - similar to buy and hold mutual funds . There are successful long term mech traders.
Anyway, i have not completely discounted the idea - i might consider using small amounts of discretion it in future HTF systems if it helps. But a completely intuitive approach does not appeal to me at all - that would be very difficult to scale up for me.

 

[Smart_trade]

hdfcbank holding them up.

But in non-financials, good rally. Titan, pizza, eicher all running.
Asianp hopefully ab 1700

Eicher Motors planning to sub-devide its shares....

 

[iwillwin]

Eicher Motors planning to sub-devide its shares....

tabhi to retailers le payenge....split hoga tab

 

[marimuthu13]

NF broken its first 30 min range in downside whereas BNF not broken its low..

Courtesy to Hdfcbank

 

[vikas2131]

Our market which is lagging so much as compared to other market , is rather ominous sign of how market is seeing economic growth in coming a year or two as of today.

 

[siddhant4u]

Our market which is lagging so much as compared to other market , is rather ominous sign of how market is seeing economic growth in coming a year or two as of today.

Indian market was legging since last 6-8 years!

In terms of returns US mkt has done well

 

[Smart_trade]

Made an error in entering the qty to sell and it resulted into selling 10 times the qty I have in my demat account in a particular stock......when I saw big red trade book as if I have done an algo trade, realised my mistake and has to square off some qty at slightly higher price as the the market was going up that time......luckily market dipped a little and I could cover the remaining qty.....it could have been an expensive error if not rectified in time......

Disadvantage of having a broker who gives large exposure to us.....if it was any other online broker, the order would not go through for margin shortfall.....

All is well that ends well.......but had terrible 10-12 minutes....cannot keep large position open....

Smart_trade

 

[man.i]

Indian Pharma companies manufacturing drugs which are linked to COVID-19
hydroxychloroquine - Ipca Labs / Zydus Cadila
favipiravir - Glenmark / Strides
remdesivir - Cipla / HeteroLabs

DISCLAIMER : Just for information. Not holding any of the mentioned shares.