Day Trading Stocks & Futures

[Romeo1998]

once out of channel, beauty banknipty can flying once it flies it will direct 36k

 

[timepass]

Let me explain
Here is a group of successful non traders . They were programmers in IT companies and heres what they are doing

https://twitter.com/i/web/status/1054604350457298944

I think consistently profitable startups would be eligible for funding like above.

Now lets consider top students from our country in technology space IITians, RECs and other top institutes in cities or MBAs from top colleges the top 1% of students. They get placed in 2 years time they are drawing 40-45 lacs. They are in their 20s at this time. An average joe after working 10 - 15 years in IT companies goes to 20 - 25 lacs in their late 30s.

Now lets take a trader top 1% beating fd consistently starting with decent savings he has had and is making lets say 8- 10 lacs. After tax and expenses he will be adding 2 lacs to his size. May be after adding 2 lacs compounding year after year how much time would it take for him to become at par with the top 1%. He may be an average joe but he actually belongs to the top1%.

So how soon will he be able to catch up with the others.
And lastly we have pr sundar who has done well as a trader. A good video from him

The thing is that stock market trading is more about psychology, and less about the bookish knowledge. Not discounting the theory, but here in stock market the results are immediate in terms of money.

Unlike computer programming, there is no CTRL+Z here.

 

[lemondew]

Always believe you are nearly there. You are going to be there till the end. Sometimes one may have to fool yourself into false beliefs. Eventually its only those who persevere will start seeing results.

I was talking to a fellow trader who is also doing well now the same. I am really not sure if it is correct to believe you will succeed even after loosing for a long time. But yes you can make it only if you believe success is around the corner.

Don't include me with ST. I am a struggler and a loser still

 

[TraderBharath]

I read a lot. Earlier used to read financial and business newspapers/magazines, now I keep myself updated on internet. I spend 4-5 hours everyday on internet reading various articles,attending webminars ( not on trading) on investing,retirement planning, estate planning,succession planning ,taxation,corporate performance,
Smart_trade

ST sir, Even I read financial statements, but generally can’t make head or tail out of it. What do you look specifically in that. How to judge the management quality. How to decide on which company financials to check? Out of curiosity, how long you take to read financials, to analyse a company?

 

[TraderBharath]

Always believe you are nearly there. You are going to be there till the end. Sometimes one may have to fool yourself into false beliefs. Eventually its only those who persevere will start seeing results.

I was talking to a fellow trader who is also doing well now the same. I am really not sure if it is correct to believe you will succeed even after loosing for a long time. But yes you can make it only if you believe success is around the corner.

Yes, it’s around the corner, but difficult to find that exact corner

 

[Romeo1998]

abc done, C minimum target done, time to fly away, but first it must going out of the trendline

 

[TraderBharath]

Don't include me with ST. I am a struggler and a loser still

It takes guts to say that. Though PL shows otherwise, I see many pretending that they are the greatest trades in the world.

 

[Smart_trade]

ST sir, Even I read financial statements, but generally can’t make head or tail out of it. What do you look specifically in that. How to judge the management quality. How to decide on which company financials to check? Out of curiosity, how long you take to read financials, to analyse a company?

It is a continuous process ,the new information keeps coming by way of company news,quarterly results,management interviews......it is not that you take a balance sheet and in 60 min you pick up a multibagger. Balance sheet analysis one should learn and I learnt it from 12th standard accountancy and book-keeping books.The process continues for the full year and we are lucky if we can pickup 2-3 gems in a year....98 % is charcoal only 2 % are diamonds....

Few things like equity,reserves,the sector in which the company operates, management quality,competitive strength,Return on capital employed,its competitive advantage etc can be judged from the balance sheets and Chairman"s reports....the company"s stock goes on a fast track when its profitability increases and company makes free cash flows and we can track that from the quarterely results....

I have been doing it for last 15-20 years when Pressure Cookers and Appliances,Nestle etc were identified before they became multibaggers...I have my share of failures but the successful investments to failure ratio is good.So out of 10 stocks I invest in, 4 become multibaggers, 3 become above average earners and 3 become failures.

Smart_trade

 

[Smart_trade]

There are few good U Tube videos by Dr Anil Lamba ( he is a Chartered Accountant from Pune may be Dr by PhD in Finance ) ) on how to analyse Balance Sheets and P& L accounts, it will give general groundwork in the subject.He has also written a book "Finance for Non Finance Executives"...

 

[lemondew]

Let me add one more perspective. This is also no overnight easy method but just another route anyone may take. For me stock market is very close to programming. Programming can be used if written very neatly without errors to examine a lot of past data. Let see one of these strategies not necessarily good but good enough for you to decide.


Thanks to xray dada for letting me know about it. This strategy is basic classic pivots. Long Entry on 5 min close above classic pivot r1. Short entry on 5 min close below classic pivot S1. SL 0.5%. Exit eod.

Thanks to ubermachine he had already coded the backtest for 2008 to 2020 on nifty spot. Results are attached. Note one cannot trade spot and this isnt working model but just an idea how a certain idea can be tested.

if you like the way please do code and test your strategies to know if they work. Thanks done from my side.


https://drive.google.com/file/d/1P4ydhjXJq4t1z-EMQ6j3nX82TvtM4h7v/view?usp=sharing

The thing is that stock market trading is more about psychology, and less about the bookish knowledge. Not discounting the theory, but here in stock market the results are immediate in terms of money.

Unlike computer programming, there is no CTRL+Z here.

Yes, it’s around the corner, but difficult to find that exact corner