Intraday profit system
- Thread starter Debarghya Mukherjee
- Start date
- Tags day trading intraday profit
WHY? WHY? WHY?
1 Why is it that the trade which you don't take moves significantly, living you pulling your hair?
2 Why is it that when you wait patiently for the target, it never gets hit but you end up either exiting at the buying price or a very little profit?
3 Why is it that when you consider to take the profit without waiting for the target, you will end up seeing the target getting hit, leaving significant profit on table?
4 Why is it that when you wait patiently the stoploss will always get hit?
5 Why is it that the losses are always big but not the profit?
6 Who are the market makers, and how can they outsmart 95% of the traders all the time? as there are only 5% winners in Intraday trading?
If you have the answers for the above questions please put some light for the benefit of other traders.
1 Why is it that the trade which you don't take moves significantly, living you pulling your hair?
2 Why is it that when you wait patiently for the target, it never gets hit but you end up either exiting at the buying price or a very little profit?
3 Why is it that when you consider to take the profit without waiting for the target, you will end up seeing the target getting hit, leaving significant profit on table?
4 Why is it that when you wait patiently the stoploss will always get hit?
5 Why is it that the losses are always big but not the profit?
6 Who are the market makers, and how can they outsmart 95% of the traders all the time? as there are only 5% winners in Intraday trading?
If you have the answers for the above questions please put some light for the benefit of other traders.
Fastrade, the answer to many of your questions is that traders tend to be too impulsive, along with lacking the mental discipline that is needed with trading. You cannot be an emotional roller coaster and make it consistently in trading.
I've been trading for a little while. If I don't take a trade that moves significantly for me, I say, "So what!", and move on. There are plenty more opportunities.
I trade forex. If my trade has gone 100 pips in my favor, and then it gets 8 pips within my target, and then starts stumbling, I throw patience out the window. It is no longer a virtue. I book the profits! Just using that as an example, if you got 92 pips and there was only 8 to go, why would you want to sweat it out in front of your computer all in the name of being patient.
I leave pips on the table a lot. Again, so what! I still booked for a nice profit.
If you are still in the patient mode while it is approaching the stop loss, then book a lesser loss and take the trade out before the stop loss is hit.
If your losses are bigger than your profit, and you are not satisfied with that, then take the responsibility for that and rethink your methodology.
I am saying respectfully that it is a cop out to blame the market makers. Who cares who they are. I assure you, they are not worked up over who is going what direction. Forex is a 4$ trillion per day industry. $1 million is a pittance by comparison. I'm sure most of us in this forum do not have a million dollars in the markets, so the market makers (whoever they are) don't even know we exist.
I've been trading for a little while. If I don't take a trade that moves significantly for me, I say, "So what!", and move on. There are plenty more opportunities.
I trade forex. If my trade has gone 100 pips in my favor, and then it gets 8 pips within my target, and then starts stumbling, I throw patience out the window. It is no longer a virtue. I book the profits! Just using that as an example, if you got 92 pips and there was only 8 to go, why would you want to sweat it out in front of your computer all in the name of being patient.
I leave pips on the table a lot. Again, so what! I still booked for a nice profit.
If you are still in the patient mode while it is approaching the stop loss, then book a lesser loss and take the trade out before the stop loss is hit.
If your losses are bigger than your profit, and you are not satisfied with that, then take the responsibility for that and rethink your methodology.
I am saying respectfully that it is a cop out to blame the market makers. Who cares who they are. I assure you, they are not worked up over who is going what direction. Forex is a 4$ trillion per day industry. $1 million is a pittance by comparison. I'm sure most of us in this forum do not have a million dollars in the markets, so the market makers (whoever they are) don't even know we exist.
1 Why is it that the trade which you don't take moves significantly, living you pulling your hair?
Ans: I sometimes follow the trades that I didnt do trades. But I see them because I want to make sure that my system works fine. It doesnt matter if I lost some trades today and saw that I could have take some other trades that can give me nice profit. I Just want confidence that my system works. Then Eventually money will come.
2 Why is it that when you wait patiently for the target, it never gets hit but you end up either exiting at the buying price or a very little profit?
Ans: It is may be you missed the market moves. What I mean to say market is the combination of different peoples mental situation. So it changes very fast. As a trader you must learn to identify the mood of market. thats it.
3 Why is it that when you consider to take the profit without waiting for the target, you will end up seeing the target getting hit, leaving significant profit on table?
4 Why is it that when you wait patiently the stoploss will always get hit?
Ans: Wowww. You are already a winner. You are putting stop loss. And that stop loss level is saving your money from devastation. isnt it a good news friend?
5 Why is it that the losses are always big but not the profit?
Ans: It is where you need to work with. Make sure that your risk reward ration is doing good and stoploss/Profit level ration is good. And also your overall money management works all.
6 Who are the market makers, and how can they outsmart 95% of the traders all the time? as there are only 5% winners in Intraday trading?
Ans: I have only one answer to this, if you win any trade doesnt matter somebody else has lost it. May be he made little profit or big profit or little loss or big loss. How can you be sure that there are many winners here?
Ans: I sometimes follow the trades that I didnt do trades. But I see them because I want to make sure that my system works fine. It doesnt matter if I lost some trades today and saw that I could have take some other trades that can give me nice profit. I Just want confidence that my system works. Then Eventually money will come.
2 Why is it that when you wait patiently for the target, it never gets hit but you end up either exiting at the buying price or a very little profit?
Ans: It is may be you missed the market moves. What I mean to say market is the combination of different peoples mental situation. So it changes very fast. As a trader you must learn to identify the mood of market. thats it.
3 Why is it that when you consider to take the profit without waiting for the target, you will end up seeing the target getting hit, leaving significant profit on table?
4 Why is it that when you wait patiently the stoploss will always get hit?
Ans: Wowww. You are already a winner. You are putting stop loss. And that stop loss level is saving your money from devastation. isnt it a good news friend?
5 Why is it that the losses are always big but not the profit?
Ans: It is where you need to work with. Make sure that your risk reward ration is doing good and stoploss/Profit level ration is good. And also your overall money management works all.
6 Who are the market makers, and how can they outsmart 95% of the traders all the time? as there are only 5% winners in Intraday trading?
Ans: I have only one answer to this, if you win any trade doesnt matter somebody else has lost it. May be he made little profit or big profit or little loss or big loss. How can you be sure that there are many winners here?
Debarghya, I don't want to put you on a spot, but I am curious. BTW, I have been one of your silent readers in your thread. I do find your progress interesting.
I'm looking at this chart, and I'm thinking it looks good. It has all the right crossovers matching up with the applicable price action. That is the nature of these indicators, as they trail the price action, and they look good after the fact; therefore, they lack the viability to be backtested.
Here's my question: Can you post the chart before the move happens, explaining where it will go, as opposed to where it has been?
I'm looking at this chart, and I'm thinking it looks good. It has all the right crossovers matching up with the applicable price action. That is the nature of these indicators, as they trail the price action, and they look good after the fact; therefore, they lack the viability to be backtested.
Here's my question: Can you post the chart before the move happens, explaining where it will go, as opposed to where it has been?
LAST THREE DAYS ACTION ON NIFTY USING MY STRATEGY
Yes I can Do it. No problem. Paul are you have a strong knowledge of trading your question makes this clear to all. One thing I can say here is that "YOU SAID SOME VERY IMPORTANT THINGS TO ME", many many traders read that thousand times but they miss the basic things. I am not going to tell you what you said that was so important and finally I understood. 
Let this other trades understood by themselves. because these are so basic things that every knows, but never understand until they just understand.
Let this other trades understood by themselves. because these are so basic things that every knows, but never understand until they just understand. I think I know what you are referring. As I mentioned, I surely do not mean to put you or the readers of your thread on a spot by posing the question.
As one of your more silent viewers of late, I have been enjoying your thread.
Keep up the good work!
As one of your more silent viewers of late, I have been enjoying your thread.
Keep up the good work!
Yes I can Do it. No problem. Paul are you have a strong knowledge of trading your question makes this clear to all. One thing I can say here is that "YOU SAID SOME VERY IMPORTANT THINGS TO ME", many many traders read that thousand times but they miss the basic things. I am not going to tell you what you said that was so important and finally I understood. Let this other trades understood by themselves. because these are so basic things that every knows, but never understand until they just understand.
Let this other trades understood by themselves. because these are so basic things that every knows, but never understand until they just understand.
Hello,,, I am Debabrata from Kolkata.
Recently I have joined with Sharekhan for doing day trading. I don't have sufficient knowledge on share market. Trying to understand from different sites. From your posts I am trying to learn.
I am using TradeTiger 2.1.0.0
1) Now, how to use stop loss ?
Say, I have bought ABC 20 shares at Rs 100 each
Now for Sale of above 20 shares
Disclosed Qty -- 0
Price -- 102 (My Target)
Tigger Price -- 98 (Stop Loss)
If I am not correct, then please tell me, how to use it.
2) From which option I can use Short Sell and how ?
3) Are they showing buy and sell signals anywhere ?
I am trying to understand candleStick chart from your post, so that I can apply that. Can you please give me the link, where you have told about this chart and which indicators I have apply and how ? How I will get buy and sell signals.
Also please tell me, how I will select Script Name which will perform good on that day.
Please reply and guide me also to do good trade.
Thanks
Recently I have joined with Sharekhan for doing day trading. I don't have sufficient knowledge on share market. Trying to understand from different sites. From your posts I am trying to learn.
I am using TradeTiger 2.1.0.0
1) Now, how to use stop loss ?
Say, I have bought ABC 20 shares at Rs 100 each
Now for Sale of above 20 shares
Disclosed Qty -- 0
Price -- 102 (My Target)
Tigger Price -- 98 (Stop Loss)
If I am not correct, then please tell me, how to use it.
2) From which option I can use Short Sell and how ?
3) Are they showing buy and sell signals anywhere ?
I am trying to understand candleStick chart from your post, so that I can apply that. Can you please give me the link, where you have told about this chart and which indicators I have apply and how ? How I will get buy and sell signals.
Also please tell me, how I will select Script Name which will perform good on that day.
Please reply and guide me also to do good trade.
Thanks
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