My daytrading for last month august. Pls comments

[guruvenkatesh2007]

Hi seniors (day traders),

on last month august, i selected jpassociat for daytrading and traded only on that stock for the full month with planned strategy, when it breaks high price, i go for long trade. When it break low price, i go for short trade.

Trade details for the month of august 2012:-

1ST, 2ND, 3RD AUGUST, I DID NOT TRADE DUE TO MY PERSONAL REASON.


DATE**SCRIPT**QTY**BUY**SELL**HIGH_LOW-BR**PROFIT-LOSS**PROFIT_LOSS-TRD
6-Aug**JPASS**300**22680**22770**HIGH-BR**90**PROFIT
7-Aug**JPASS**200**15290**15365**HIGH-BR**75**PROFIT
8-Aug**JPASS**200**15475**15620**LOW-BR**145**PROFIT
9-Aug**JPASS**200**15420**15480**LOW-BR**60**PROFIT
10-Aug**JPASS**200**15210**15110**LOW-BR**-100**LOSS
13-Aug**JPASS**200**15030**14930**HIGH-BR**-100**LOSS
14-Aug**JPASS**300**22715**22800**HIGH-BR**85**PROFIT
16-Aug**JPASS**200**15280**15240**LOW-BR**-40**LOSS
17-Aug**JPASS**300**22800**22855**HIGH-BR**55**PROFIT
21-Aug**JPASS**200**15060**15070**LOW-BR**10**PROFIT
22-Aug**JPASS**400**30830**30790**HIGH-BR**LOW-BR**-40**LOSS
23-Aug**JPASS**200**15650**15600**LOW-BR**-50**LOSS
24-Aug**JPASS**200**15090**15190**LOW-BR**100**PROFIT
27-Aug**JPASS**200**14840**14860**LOW-BR**20**PROFIT
28-Aug**JPASS****NO TRADE**
29-Aug**JPASS**200**12890**12900**LOW-BR**10**PROFIT
30-Aug**JPASS**200**12590**12610**HIGH-BR**20**PROFIT
31-Aug**JPASS**200**13140**13090**HIGH-BR**-50**LOSS


GROSSPROFIT = 290
BROKERAGE = 700
NETPROFIT = -410

YOU CAN SEE IMAGE AT:- http://imageshack.us/photo/my-images/16/tradh.jpg/


stoploss details: If i bought 2 qty at 65.00, i put stoploss at 64.50, if stoploss hit at 64.50, both 2 qty will covered. IF IT MOVES FROM 65 TO 65.20.. I TRAIL MY STOLOSS TO 64.70. EVERY 5 PAISE RAISE, I TRAIL MY STOPLOSS TO 5 PAISE.

Target details:- 1st trgt reaches 65.50, i will sold 1 qty and i moved sl 65.10 for another qty. For second qty target is 66.00. I will not change the second qty price from 65.10.

My traded qty only 2oo per trade for high break or low break.. Some trades may occur 300 or 400 for my wrong order.

So last month i traded with full discipline, full planned and i meet gross profit, but after brokerage, net profit comes to minus,,

so pls tell, can i improve this strategy, or this strategy works well ??? My stoploss and target is good..?? Pls tell day traders seniors.

Hi st, saint,....., pls reply.. I readed your post daily without fail. I learn lot from your post. Thanks!!!!!

I am seriously concentrate on day trading for "trade for living". I have three years experience as part time trader.

Thanks
take care

 

[GTji]

Your profits targets are too small and your brokerage is too high. Which broker are you using?

 

[gsn57iaf]

Dear Guruvenkatesh please check from the below link of Zerodha calculator https://zerodha.com/main/calculator/calcs.html
and let us know how much you would have been in Profit or Loss.

 

[guruvenkatesh2007]

hi GTji,

i am using INDIABULLS account,,, for intraday 0.03paise per side..
I know if i use zerodha for this 200 or 300rs will reduce. but i am learning one by one strategy.. if i expert, then i will use zerodha..

thanks for your reply GTji.

 

[manojborle]

hi GTji,

i am using INDIABULLS account,,, for intraday 0.03paise per side..
I know if i use zerodha for this 200 or 300rs will reduce. but i am learning one by one strategy.. if i expert, then i will use zerodha..

thanks for your reply GTji.

With higher side brokerage, your profit target should be on higher side.
With the given example, with 50 paisa target, after deducting brokerage and other charges, how much profit you can make ?
What I mean to say where is you break even point ?

 

[guruvenkatesh2007]

hi,

50paise my target.. out of 50paise -- 10paise will go to brokerage,...

then,

break even point means....???
...
thanks

 

[murthyavr]

hi GTji,

i am using INDIABULLS account,,, for intraday 0.03paise per side..
I know if i use zerodha for this 200 or 300rs will reduce. but i am learning one by one strategy.. if i expert, then i will use zerodha..

thanks for your reply GTji.

Dear Venkatesh,

No.. it is the other way round.

If you are an expert, consider IndiaBulls. Otherwise go to Zerodha, where you
can cut short some of your expenses and try to be profitable.

Just my two cents.