Lost 40K today in banknifty..:-(

suri112000

Well-Known Member
#61
Deadbrain,

You are not updating the tips provider calls and their result.
 

deadbrain

Well-Known Member
#62
Deadbrain,

You are not updating the tips provider calls and their result.
I had told them in advance if any day ends up in loss, I will stop working on their calls, which finally happened day before. Total earning was of the day 5000 and loss in one future call was 6000. So my observation is their calls will work only in trending days and if that is the case it is better to develop the skills necessary for day trading.

So finally I have not been trading their tips, but just observing as my prime concern is to save capital as much possible. Yesterday, they had given a banknifty buy from 17390-400 with a target of 17510.. It went till 17454 and took a U-turn. So, I am planning to learn trading in pivot points instead.

I have created this excel sheet for pivot points, but need to know how to trade them if anyone could guide me. I would be using camarilla pivot points mainly. The pivot points I think are correct for Monday. Initially I will adhere strictly to pivot point trading and might look at RSI and EMA/candles crossover during the trade.

My question is what should be SL and target when trading these points on Monday.


 
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#63
Hi

I am regular visitor of this forum. I read many threads, tried many methods, read a couple books on candles, daytrading. I tried scaloping, options trading, breakouts trading, first hour strategies. I tried with very low volumes and earned consistently, but the problem was my SL was always far and profit booking always near, so on three successful day trades, fourth day of loss was higher than previous three days profits. If i waited long for let the profit run, it hardly hit the targets and took u-turn and keeping sl near was hit very early. Even in those cases, i never lost any money more than few hundreds, but i truested the professinoal services more than me, and lost in thousands in just couple days.
Dear the same was happened wide me...i advice you to start from basic n become independent...learn technical or fundamental analysis from start if you r serious abt this business....not advertising but you should visit once to

g r e e t t r a d i n g f a m i l y . c o m /forum/....
 
#64
Hi

Having failed in intraday, I paid 12k to a service provider from Indore today. They told me to go long with 2 lots of banknifty at a certain price. It went up, made a high and came back, I added 2 more lots considering it has broken high of the day and should make new highs. But to my badluck, it took U-turn and started going down. I checked with the service provider if I exit the position and book losses. They said, it will come back up. In minutes of time, it went 200 points below. With cold hands and feet, I booked the loss at 40K.

My losses are now 2.5 lakhs till date\. I started in 2010. Nothing seems to be working. I even dont know what should be stop loss of banknifty which is so volatile.:mad::mad::mad::confused::confused::(:(
Strated in 2010 and still getting loss???...not something lot things are wrong with you.
Lot of losers blame intraday game after losing huge amount. If you are taking 40k loss that means somebody make profit of 40k, your money doesnt vanish in air.
I consistently make money in intraday and I dont use any technical indicators.
Though I have good experience of market still my 50% intraday trades are losers.
Then how I make money??
I have a magic wand and I will give it to you FREE OF COST.:) Though I will not tell you all the things but atleast start with some things.
Follow these things:
1) Firstly dont follow any tips provider, if they know market better why they give you tips. They should trade and make lot of money.
2) Check your losing trades history and do exact opposite in future ;)
That means if you think market will go up, short future and vice versa with stop loss. OR..
3) Rather follow your instinct, trade by intraday charts with simple strategies. No need to use complicated technical analysis.
4) The simple strategy is Buy at Support and Sell at Resistance.
5) Another strategy is Buy or Sell at Breakout.
6) Stop loss must.
7) Maintain 1:3 Risk Reward Ratio. Maintaining 1:3 RR ratio in above strategies is not big issue. You are entering the trade with less risk and high success probability.
8) Trade more than 20 stocks daily with Money Management.

For all traders on Traderji:
Follow these steps for next 2 months and tell me result.
If you still lose money after 2 months stop intraday trading. I will give you KIRAYA to go to HARIDWAR. India need more BABA than traders.
 

deadbrain

Well-Known Member
#65
Thanks DayTrader007.

I will certainly keep your suggestions in mind. Though I am at loss only in day trades.

In positional calls, I mostly end up in 10% profit.

I also have a magical wand that gave me consistently profits though only small in day trades.

It is a simple technique. All I do is check at 9.20-9.25. If open and high are same, I short. If open and low are same, I long. It hits 90-95% of times.

My greed took me to tip provider who got me a profit of 2k in just one trial in banknifty call and then I paid him and blindly followed him in next trade and lost so much. Beforehand I never traded in nifty, banknifty or futures, so I did not know about the SL. Later I realized their SL was so deep because that was a positional call SL and not daytrade SL. Anyway, now that I have stopped working with them, I am back to the baseline. In last post, I created a sheet for pivot points for nifty as well, which I would like to learn and follow.

Thanks your suggestions. I will read them again and again, and follow.
 
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suri112000

Well-Known Member
#66
Thanks DayTrader007.

I will certainly keep your suggestions in mind. Though I am at loss only in day trades.

In positional calls, I mostly end up in 10% profit.

I also have a magical wand that gave me consistently profits though only small in day trades.

It is a simple technique. All I do is check at 9.20-9.25. If open and high are same, I short. If open and low are same, I long. It hits 90-95% of times.

My greed took me to tip provider who got me a profit of 2k in just one trial in banknifty call and then I paid him and blindly followed him in next trade and lost so much. Beforehand I never traded in nifty, banknifty or futures, so I did not know about the SL. Later I realized their SL was so deep because that was a positional call SL and not daytrade SL. Anyway, now that I have stopped working with them, I am back to the baseline. In last post, I created a sheet for pivot points for nifty as well, which I would like to learn and follow.

Thanks your suggestions. I will read them again and again, and follow.
This is the basic trap of tips providers. They give one day free trial. If the call works, they ask you to join their services. (You and me know very well that that call may or may not work;). If it works, they have a client who with all enthusiasm deposits Rs.10 to 12,000 fee. If it does not work, they loose a phone call. (Risk/reward for them is marvelous... isnot it;). After receiving the deposits, they give calls which are not guaranteed to produce results. 100% they fail to deliver but they are double guaranteed to flourish in this business because their risk/reward is highly favourable with a high hit rate.;)
 

deadbrain

Well-Known Member
#67
Thank you everyone.

In five years if one thing has not changed, it is good advices on TJ.

My question still relates to post #61.

I created a pivot point sheet and will use camarilla pivot points for nifty on Monday. I am still a bit wary of SL and targets.

If it breaks one support or resistance, will the next support/resistance be my target and previous SL? Thank you again.
 
#68
Thank you everyone.

In five years if one thing has not changed, it is good advices on TJ.

My question still relates to post #61.

I created a pivot point sheet and will use camarilla pivot points for nifty on Monday. I am still a bit wary of SL and targets.

If it breaks one support or resistance, will the next support/resistance be my target and previous SL? Thank you again.
It generally spends some time at the camarilla pivot points (on the daily) before the next big move. Cam pivots have to be combined with some other technicals or readings for a trade.
 

suri112000

Well-Known Member
#69
Today I have received a call from Tips provider from Indore. He claims that their accuracy is 90%. When I asked him how much I would make if I start trading your calls, he said that you can easily make Rs.90K out of Rs.30K as capital. Then I asked him "Are you Sure?" for that he said "YES".

I told him to trade his own calls with his own capital for next 1 month... if he makes 200% in a month as he claims........call me after 1 month with your call list, contract notes, trading account snap shot, I will join your services by paying 200% of your present fee.

He simply cut the phone without a further word:D


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Same thing happend a month earlier. But a lady was on the other side. When I proposed the deal, she said.. "Trade math karo sir...........ek din aata hai..........do din chala jata hai". She was honest with her words.
 

deadbrain

Well-Known Member
#70
Today I have received a call from Tips provider from Indore. He claims that their accuracy is 90%. When I asked.....
Since the day I clicked on an ad in a famous website....I am getting daily 5-10 calls from advisor companies. Some are sending me messages without fail. For the same reason I have installed sms blocker ad.....I wish I could tell them all...Go To Hell.