Day Trading Stocks & Futures

[Smart_trade]

Sir HDFC bank u are not buying or looking lower levels to add

Looking for some more dip...

ST

 

[vikas2131]

Public listing of LIC on the cards as Modi weighs next big-bang reform

https://economictimes.indiatimes.co...next-big-bang-reform/articleshow/70427942.cms

Such mega IPO could hit mkt only when there is positivity in mkt. This would require to smoothen the ruffled feathers with fii/hni .

 

[PreSap]

I'm not an expert in your method. I think Subhdeep, ST bhai will be able to comment more on the technique.
I can share my thoughts on the basis of what I see (even if its in hind sight).
-You shorted at 441.70. Great!
-Price fell to 435 levels and went sideways for 5-6 bars(10:00-10:20). After this, it made a pivot high at 438.80 which was 2 points away from your entry. You held on till it made this pivot high. Question to ask.. what would do if it retraced all the way to 441?
- Price going sideways should have been your first indication to take some money off the table.
- Even after it broke the low of that sideways move, you will see a red candle pulling back(10:55). Here price is saying "I dont want to go lower".
-After this, low was again broken, price went and spent a good 15 minutes holding 432.50 levels. There is a break of this at 11:20 which forms a spinning top and price closes back in the range of the last 3 candles (the lowest low of the day).

Ideally, I would check out on the sideways move at 436. If the low of the sideways breaks, I would think of rentry again.

The common sense approach: I like this approach a lot better than any technical stuff. You are trading an instrument at 441.70. You short the stock and you are lucky to get a full 1.5%-2% move in your favor and you were day dreaming. What are we thinking here? Stocks do not move 5-10% everyday. We have to remember this. Its extremely important. There has to be a purpose in your trading. You are trading to make money and not to watch your pivots being taken off.
So, when you have a 2% move in your favor, you should not be worried about your pivot which is anyways so high(almost up in the sky at 438.80) Price is at 432.50 The least you should do is to pull your stop to the lows of the consolidation bars at 435.
You gave up 3-4 full points on the pull back. You not only lost a nice profit but it ended up denting your confidence as well. Taking a loss is sometimes much easier. Giving up hard earned points is tough.
I admit that TS need some breathing space initially on entry. It can move 1-2 points at a snap. But when you are in good profits, dont let it kill you.

Also, Taking profits every now and then never hurt anyone. So be aggressive in taking your profits. Its only in hindsight we can say" ah if i had held on i would make 3 points extra". All that is good for day dreams not for our ledger.

Sorry bro no harsh words intended here. Just speaking what Im thinking.

Was great to read through the whole message. Awesome insight. Subhadip has also mentioned about reading the price action bar by bar.

I have often taken trades off early to see the move continuing, but probably haven’t looked at the price action as clearly as you have mentioned. Recently trying to let winners run (and not taking profits ... incorrectly, I might add).

Something similar has happened to me today on Asian Paints futures. I was long, didn’t book out and finally took a loss - at the very least should have booked out at break even.

Thanks heaps for taking the effort and time to explain your thoughts so clearly!




Sent from my iPhone using Tapatalk

 

[siddhant4u]

Nike betting on Indian population and older adults taking on health/fitness as an hobby

they are first betting on mcdonald, pizza hut, pepsi/coke to do the trick

 

[lemondew]

To be honest am not aware of the income they make as we meet rarely now. But they are rich with passion and dedication for their work. Something I always envied.

So these full time traders obviously must be making money...else how they survive and prosper...deductive logic.....unless they have some other income stream or rich father or rich father in law.......also they cannot go on for years if they are not successful...

Smart_trade

 

[Smart_trade]

To be honest am not aware of the income they make as we meet rarely now. But they are rich with passion and dedication for their work. Something I always envied.

Try to learn whatever you can from them...finding out their incomes make no good to us...a trader trading on 5 L capital and CONSISTANTLY making 3 L per annum is as succesful as a trader making 25 L on a capital of 50 L or 75 L in a year.....what is important is consistant results and not some stray bouts of large profits...

Smart_trade

 

[primitivetrader]

covered yesbank short with 1:2. scratched hul long price not moving. glenmark gave only 1:1. holding cipla long, will cover by 3:15

 

[Smart_trade]

LIC will soon be listed....

ST

 

[AK78]

ST sir Main problem is not consistant in Trading if i trade 6 trade religious follow with Money management stick with rules but 4 out of 2 trade in loss. mind not stick with that all rules.
mind searching our system is not good etc.

 

[Smart_trade]

ST sir Main problem is not consistant in Trading if i trade 6 trade religious follow with Money management stick with rules but 4 out of 2 trade in loss. mind not stick with that all rules.
mind searching our system is not good etc.

Consistancy is very important if one has to successfully play a long inning in trading...else I see new faces in trading after every 6 months...when I used to trade sitting in broker's office ,the broker used to show me new traders and say "nayi fasal hain....6 mahine mein kat jayegi aur fir nayi fasal ayegi...." so true on every Muhurat day I used to go to my brokers office and see new ethusiastic faces of traders and next year all new faces again...

Smart_trade