Diary of an Evolving day trader

[srikantpreddy]

Thanks a lot AW10,Manoj, Anurag...

@Anurag
 Frankly telling I have never used any method (you may laugh at me about my foolishness)
 I used to look at diff sites and take tips. sometimes success and sometimes loss, But overall loss
 After my account become almost near zero, then good gyan prevailed on me… So started reading many threads, some TA books etc
 Started paper trading and giving calls in a site just to check whether I am correct(yes offcourse mentioned, don’t trade inthese calls )
 But nowa days only thing I am doing correct is no emotion while booking loss/profit (previously I used to think mkt will obey and since this call is given by so and so analyst it will be correct)


@AW10,

Yes, I am doing screen reading but what exactly the technique, even I can’t explain. I will mention the points what I am doing. If atall you can find out the method or fine tune it that will be great

@Manoj…I am reading TA but not sure how much I can give justice as I am working as well

 

[srikantpreddy]

For ex Now I have shorted IDBI @151.2..SL 152.2

 

[srikantpreddy]

will buy above 152.5

 

[srikantpreddy]

Thanks a lot AW10,Manoj, Anurag...

Let me continue my practice for few more months, what I am doing...

Let me share what I am doing...

-- selected list of shares (8-10)…Sticking with this for last 2 3 months
-- I checked last days High, low, closing, volume
-- today's high and low till 9.45
-- Based on these I am able to guess which side the price is going to be
-- I play for 1Rs in future which comes out to 1.5 to 2K (based on lot size)
-- 2 3 scrips, makes my day by 10 10.30 AM

Since this looks too simple and people talks a lot of technical stuff. That’s why sometimes feel people may outsmart me again this time.

@AW10,

Yes, I am doing screen reading but what exactly the technique, even I can’t explain. I have mentioned the points what I am doing. If atall you can find out the method from the above points or fine tune it that will be great

 

[srikantpreddy]

Today Morning shorted IDFC @160 covered @158.5

 

[srikantpreddy]

covered @150.4

Got some 1.5K... Like this I am doing Frns..

-- Now pls tell me is this correct way of trading
-- but this brings money for me

 

[Placebo]

-- Now pls tell me is this correct way of trading
-- but this brings money for me

Why do you care so much about what others have to say ? Is it so important to you that people validate or reject what you have to say ? The bottom line says it all mate , everything else is time pass conversations.

Either you are really naive or doing a wonderful job in pretending to be one.

Cheers

 

[srikantpreddy]

No placebo.. If atall i want to time pass, then the better place is yahoo mess..

I don't have that much time, energy and money to pretend here..If at all, I am cheating myself..I will be the ultimate looser..nobody else

I have already lost so much, Don't have energy,money to continue..

This is the first time I have put my effort(which I can really tell it's my effort)..When child starts walking, he puts his effort but needs courage and guidance, support..

Here there are so many good guides,genius I want their guidance as well...(becuse previously what I was doing, I thought it was all correct but not so)..

I want the validation of my technique and want few more tricks to fine tune of my technique..

 

[srikantpreddy]

-- After keeping myself disciplined for 1month, today trade almost in the wrong direction of the MKT and that to without any SL

-- Could not understand why I have done so
-- I used to exit trade within max 1Hr but today keep on hoping mkt will come up..but it went down and down'
-- Again traded nifty option...that to on expiry day

Very very bad approach on my behalf

 

[AW10]

Let me share what I am doing...

-- selected list of shares (8-10)…Sticking with this for last 2 3 months
-- I checked last days High, low, closing, volume
-- today's high and low till 9.45
-- Based on these I am able to guess which side the price is going to be
-- I play for 1Rs in future which comes out to 1.5 to 2K (based on lot size)
-- 2 3 scrips, makes my day by 10 10.30 AM

Since this looks too simple and people talks a lot of technical stuff. That’s why sometimes feel people may outsmart me again this time.

@AW10,

Yes, I am doing screen reading but what exactly the technique, even I can’t explain. I have mentioned the points what I am doing. If atall you can find out the method from the above points or fine tune it that will be great

Srikant, the approach that you have mentioned is seems perfectly fine to me and I can give reasons form technical analysis and complicate it.
If without that complication, as long as it is working for you, go ahead..Don't worry about validation from other traders.
After today's result, you might start doubting your strategy.. but believe in your strategy and practice that. Your today's result was due not following your own rules - of not trading nifty, and not sticking to stoploss limit, reading of High/Low till 945 am and H/L of yesterday. As a trader, our main challenge is to follow the rules that we have defined for ourselve.

HOPE and FEAR are no way a good trading strategy, infact that is worst daytrading strategy.

All the best for tomorrow.
Happy Trading