diary of a day trader

[TraderRavi]

If you asking for help pls post your strategy some dtls with chart to do postmortem where is the wrong .Here we have many expert surgeons (indeed I m nt among them) to recover us from coma .It seems that there is something serious wrong with u. Perhaps you need solid money management .Pls ref to my poshttp://www.traderji.com/day-trading/38954-does-day-trading-give-large-profit-2.html#post419057 not to solve your pblm but to see another one at the same boat. :console:

thanks, ur post is very informative there...as u say we cant be a TA analyst in one month or two it will take time may be years..so i just trade in 3-4 scrips...no straetgy..just range following...how can i develop a strategy in one month of trading.?..i have downloaded amibroker.. but i m not succesfull in getting charts in it..till now....so in the mean time we have to find some methods to survive.....everybody is saying daytrading is dangerous...thats true but 30% people dont make losses...and everybody wants to be one of them...I had my share of mistakes ..and 40k loss in around month of trading is very big... indeed moneymanagement was very bad.....but now a days my daily turnover is much less around 4-5 lakhs compared to 15 - 20 lakhs earlier....less money less profits but less risks too...I dont have much money for investments ...and u need sensex at 10 - 12k for investments not now at these high rates....

 

[TraderRavi]

i would really appreciate if you post your buy & sell price along with your Sl. And why do you keep playing with educomp when there are lots of fish in the sea?

see i m new here and i have to be familiar with a stock before jumping...i had burnt my hands doing this and seniors here had advised me to restrict to 3-4 scrips max..by daily playing them..i will at least know something about them...i will not elaborate my mistakes here...otherwise u people will laugh for a whole week non stop...or for a month... i was really stupid..at beginning...but not now...someday if i ever recover my capital i will write for beginners about my mistakes...in detail so they benefit from it...

 

[saivenkat]

Re: brokerage

I just calculated ....
total brokerage (in my 20 trading days upto 19th march) = 13840...its huge

other charges = 5150

total = 19000

my loss till now = 41500

charges % in total loss = 45%..

45% of my total loss is due to these high charges....

I am earning for them not for myself..thats why stock market kings are only brokers...

a recent survey in US says 70% traders make losses, 18% break even and only 12% make profits.....i want to be in that 30% bracket.. currently i m in those 70%...

Dear jlo001,

Hardly an hour ago, while googling i was lead in to another forum, e-in***.in and i read the entire post of a daily trader, who was analysing his trades.. and after finished reading it.. i logged on to traderji... and find a similar kind of post.. and was surprised that both the posts were matching..Only after that i realised that both the persons were jlo001

There are a lot of posts and strategies in this forum.. where in you can learn a lot.. i am some of the links.. which i have subscribed.. and i hope that
may prove to be useful to you.

http://www.traderji.com/technical-analysis/36413-trading-strategies-using-technical-analysis.html

http://www.traderji.com/position-trading/15323-trading-tips-koolfriend4u-201.html

http://www.traderji.com/equities/29292-stocks-keep-close-eye-chapter-ii-88.htm

http://www.traderji.com/position-trading/36442-trying-positions-tested-afl-300-profit-8.html

http://www.traderji.com/technical-analysis/12686-kiss-like-mcgrath.html

http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

Apart from the range bound technique you are adopting, i feel that these links might help you. I have given only only a few, but there a lots and lots of stuff here.. which are illustrated with examples, and that which no e-books will clarify.

Regards
Saivenkat.

 

[asitprasen]

Re: 16th March AUCTION DAY

how can I private msg u, its good to short educomp & hanung toys too. level i tell u, Pls slice your orders i give you the same formula that i do. try it once with samll qty.

 

[TraderRavi]

Re: 16th March AUCTION DAY

how can i private msg u, its good to short educomp & hanung toys too. Level i tell u, pls slice your orders i give you the same formula that i do. Try it once with samll qty.

you can pm me..earlier it was tured off..but now its turned on...somewhere in this forum i was reading ur formula...?

 

[aditya14]

@Jl

just scale back on ur trades as ur brokerage tells a tale.Now couple of things from daytrading experience:

1) Avoid the first 20 mins.Or if u wana trade it trade both sides(figure that out yourself)
2) After 1:30 observe the market for 20 mins.The stock will follow that trend till 3 or sometimes even 3:30.
3) First thing after ur order is filled is put in a adequate stoploss(key) and don`t push it higher.When trade goes ur way move the stop up.But in some stocks which are wild u can take limit fills.
4) Never hit market order.Always see the bid/ask spread that will cue u in.
5) Always go with the market so if market is looking like going up u do not short.

Best of luck and share ur next 20 days after these adjustments

 

[Capricorn]

thanks, ur post is very informative there...as u say we cant be a TA analyst in one month or two it will take time may be years..so i just trade in 3-4 scrips...no straetgy..just range following...how can i develop a strategy in one month of trading.?..i have downloaded amibroker.. but i m not succesfull in getting charts in it..till now....so in the mean time we have to find some methods to survive.....everybody is saying daytrading is dangerous...thats true but 30% people dont make losses...and everybody wants to be one of them...I had my share of mistakes ..and 40k loss in around month of trading is very big... indeed moneymanagement was very bad.....but now a days my daily turnover is much less around 4-5 lakhs compared to 15 - 20 lakhs earlier....less money less profits but less risks too...I dont have much money for investments ...and u need sensex at 10 - 12k for investments not now at these high rates....

Why are you doing even that much. You need to concentrate on strategy. How are volumes going to help?

 

[TraderRavi]

22 march

Booked Profit : 174

net loss will be around 1000 (because of brk & charges)..

tried hand in ibreality and ivrclinfra but SL hit...
thanks god..educomp saved me .
SHORT 200 @ 771 ... BUY 200@ 767, 761 at intervals...eventually drooped to 750..booked early..but u cant say/ predict that .....otherwise 4000 profit was there (771 - 750)
...otherwise...:annoyed:

 

[TraderRavi]

23 march

BOOKED PROFIT = 181

NET LOSS will be around 700 (brk + charges)

CAPITAL INVESTED = 80K

LEDGER BALANCE = 36K

3 days in a row just managed to be in plus but in the last two days brokerage draged me down...again strategy will change from 25th....my RM says "aage baat karni padegi"...about low brokerage......
in kotak freeway account plan ..pay 999/- fixed per month and thereafter no brokerage ..are any hidden charges or restrictions?/..any other plans like this with other brokers ?....this will suite me..as i m giving that amount per day...

 

[TraderRavi]

1) Avoid the first 20 mins.Or if u wana trade it trade both sides(figure that out yourself)

HOW mr aditya,..both sides ?..only if i m that intelligent..but its not the case...lol ...tell me before my ledger goes empty...:lol: