My Trading Journey - Day Trading the account with ~ 1000 INR

#1
Hi all Traders,

I am Nagappan. I'm frequent reader of traderji and this is my first thread.

I'm doing data research for last 2 years and tested many strategies I crafted based on several factors. I'm still not satisfied with the result. I have enough time to do this further.

Making money is not my ultimate aim. But my aim is to find the way to successfully predict the market most of the time.

I have an account at popular online discount brokerage firm. They offer Bracket order and Cover order, so no plenty of cash is required to do my experimental trades. I can risk the amount I'm affordable to loose.

Nearly 1 year back I opened account with that online broker . Till now, this trading account faced only loss. Free cash available at this account now is around 1300 INR.

I'm documenting this journey in traderji from today. I'm super excited to get comments from traderji members.

If I fail, I'll happily accept this and will do further optimization, will do the experiment again.

Today morning my account had 1318 INR/- Refer the attached image.

I took several trades on VEDL today and made 850 INR. After all charges ~ 750 INR. See attached image here.

Based on account value, ROI is ~ 55 %. It will not happen all the day. But getting 20% on account value seems reasonable with proper data analysis.

Regards,
Nagappan
 

Attachments

#3
Today I made loss.

Morning, I had 2075 INR in account.

I traded VEDL today also, first half I made ~ 350 INR and in second half I made big loss.

Loss : ~ 210 INR
Broker Charges : ~ 100 INR
Net Loss : ~ 310 INR
Loss % : ~15% of total account value

My Mistake : Traded VEDL based on prediction as usual but without confirmation signal


 
#4
Today I was not allowed to trade BO and CO by broker because of brexit news.

I also aware that this news would create huge volatility in the market.

But I traded the market with regular intraday order type with small quantity

Total account value in morning : ~ 1750 INR
Total loss : ~ 100 INR
% of Total account value : ~ 6 %

Regards,
Nagappan
 

DSM

Well-Known Member
#5
Hi Nagappan,

Just one comment on your post.... As traders we cannot predict the market, only trade basis what is on the charts. If you try to predict, you invest yourself emotionally and expect the market to move as per your analysis... And as a result, when it moves contrary to your expectations, you dig in, hoping it will work out.... In fact, it should be the other way around.... that you be emotionally detached from your analysis and trade as per what the market tells you.... As traders, we can only analyze risk and probability.... and let the market decide us if our analysis is right or wrong...

My 2C.

But my aim is to find the way to successfully predict the market most of the time.
 

SexyTrader

Well-Known Member
#6
Trading on high leverage is best left to people who handle risk better.

Stick to 1:1 when risky days, profits will be better
 

goldenedge

Active Member
#7
Trading on high leverage is best left to people who handle risk better.

Stick to 1:1 when risky days, profits will be better
No. This is a bad advice.

I understand your strategy of growing small account using zerodha's CO and BO. It's a pretty good one.

But, you are focusing mostly on profit/loss. That's bad. Assume that you have grown your account to 10k. If you use cover order then you easily get 500/1000 fluctuations. Looking at that much swings can emotionally hurt you (it happened to me). Solution? Only focus on the number of pips you made. That will help you keep emotions in control.

One more thing, never go on a loosing streak for more than 2 days. Trust me. Better focus on breakeven if you are on loosing streak. (one step at a time:thumb:)
 
#8
Hi Nagappan,

As traders we cannot predict the market, only trade basis what is on the charts. If you try to predict, you invest yourself emotionally and expect the market to move as per your analysis.

But my aim is to find the way to successfully predict the market most of the time.
Hi DSM,

Yes you are right. If we emotionally trade, then we will probably get loss and frustration. I experienced the same while I started to trading the market few years ago. On those days, I simply gambled based on indicator signal without understanding the mechanism behind the market.

As of now, my trading path : Prediction ==> Technical analysis signal ==> Taking the trade

As per my point of view, predicting before taking the trade will give added advantage over simply trading based on technical analysis. I'm not forecasting the price and time but simply predicting based on model that fit to previous data.

If you see history, great traders and investors used forecasting and prediction models. These models gave them unfair advantage over others.

Regards,
Nagappan :)
 
#9
Trading on high leverage is best left to people who handle risk better.

Stick to 1:1 when risky days, profits will be better
Hi SexyTrader,

"Every action has an equal and opposite reaction". I keep my risk to reward ratio based on this law.

Apart from this, I'm not good in handling the risk better.

Rough mathematics shows, even if the system with 1:1 RR ratio gives 60 % accuracy, at the end we will be left with 20%.

Regards,
Nagappan
 
#10
No. This is a bad advice.

But, you are focusing mostly on profit/loss. That's bad. Assume that you have grown your account to 10k. If you use cover order then you easily get 500/1000 fluctuations. Looking at that much swings can emotionally hurt you (it happened to me). Solution? Only focus on the number of pips you made. That will help you keep emotions in control.

One more thing, never go on a loosing streak for more than 2 days. Trust me. Better focus on breakeven if you are on loosing streak. (one step at a time:thumb:)
Hi Goldenedge,

You gave your experience as comment, Thanks.

Once I take the trade, I never look at profit or loss in terms of money. But I watch the chart (only if necessary) for the price movement.

Let say, we crafted a system with 70 % accuracy, then we need to trade on all the day to get those 70% accuracy. Otherwise, system may fail to give you that accuracy. So, I never consider losing streak for x number of days. May be I'm wrong in this rule. But let see how these experiment will move forward.

Regards,
Nagappan
 

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