Lost 40K today in banknifty..:-(

wisp

Well-Known Member
#21
I trade only BNF for my bread and butter , So i can help you in this regard.

1.I have backtested with different SL points.30 points is best SL for intraday.
For intraday swing you can put rs 50 sl.

2.So intraday trading with more than 50 rupee sl is useless.

3.I do use 200 sl , but that is for a swing method(2-8 days).

4.You need to fixed your risk(R Multiple) , then you can compare your risk:Reward.

5.you have variable Sl , then how can you succeed.

6.Finally mark my word , any method will work but unless you don't have Money Management in place you will not succeed.:thumb:
I dont believe in a fixed no. for SL. SL should be the point beyond which if price reverses, the trade gets invalidated, nos some random fixed number. Random number is gambling imho.
 
#22
I dont believe in a fixed no. for SL. SL should be the point beyond which if price reverses, the trade gets invalidated, nos some random fixed number. Random number is gambling imho.
My Money management is based on fixed SL(R Multiple).
It's works very well for me because I'm trading only banknifty for last few year.
But you should do whatever work for you.
 

deadbrain

Well-Known Member
#23
@Bane

I loved your post. Now I understand 200 pts SL is for swing traders and not for daytraders.


Thank you very much bro.
 

deadbrain

Well-Known Member
#26

deadbrain

Well-Known Member
#27
Second day with the service provider. While I lost 1600 bucks on shorting UltraCement. the provider earned me 4K. So out of 40 lost, the provider helped me recover 10k in 2 days. Not all providers in India are cheaters, I am gaining some trust, though long way to go.
 

suri112000

Well-Known Member
#28
Second day with the service provider. While I lost 1600 bucks on shorting UltraCement. the provider earned me 4K. So out of 40 lost, the provider helped me recover 10k in 2 days. Not all providers in India are cheaters, I am gaining some trust, though long way to go.
Keep updating your trades with tips provider. Make sure you add brokerage, taxes to the losses, deduct the same from profits.

1st call is loss of Rs.40K (is it including brokerage, taxes?)
2nd call is loss of 1.6K (hopefully including all taxes here)
3rd call is profit of 4K (hopefully excluding all taxes)

Not understood how you recovered Rs.10K in three calls. Please elaborate.
 

deadbrain

Well-Known Member
#29
Keep updating your trades with tips provider. Make sure you add brokerage, taxes to the losses, deduct the same from profits.

1st call is loss of Rs.40K (is it including brokerage, taxes?)
2nd call is loss of 1.6K (hopefully including all taxes here)
3rd call is profit of 4K (hopefully excluding all taxes)

Not understood how you recovered Rs.10K in three calls. Please elaborate.
Brother

Service provider calls are only on banknifty...40k lost in first call but later recovered 6k same day (which i mentioned in earlier posts)

Second call today (actually three calls to be exact) My charges are around 12 banknifty points (including all taxes). So earned around 4200. So I recovered 6+4 = 10 on provider's calls

I shorted Ultracement on my own trade and lost 1.6k there (if i forgot to mention). It has nothing to do with provider's calls.
 

deadbrain

Well-Known Member
#30
Banknifty SL hit today (on provider call).

Lost 2k.