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

[Nagappan]

Hi all,

Today morning I had ~ 1650 INR in my account.

Traded VEDL only.

Gain : 670 INR
Broker Charges : ~ 100 INR
Net Gain : ~ 570 INR
Total % on account Value : ~ 35%

Notes : Reached upto 950 INR in profit but didn't close the position @ right time and left that till end of the day.

Mistake : One trade I took though my mobile. Because of small screen size, looking the chart with some indicators in mobile screen made me to take wrong decision. So, I will try to avoid taking trades by looking at the chart in small screen. I'm not comfortable with it.

 

[Shikamaru]

Good starts, with picture we all know who your Broker is?
It good to test strategy with small amount in real market..
which provided lot of information rather repainting / paper trading

But I have only one concern, Does it possible to handle large
amount with well crafted system as the result of this thread?

All the best and keep going! :thumb:

 

[Nagappan]

Good starts, with picture we all know who your Broker is?
It good to test strategy with small amount in real market..
which provided lot of information rather repainting / paper trading

But I have only one concern, Does it possible to handle large
amount with well crafted system as the result of this thread?

All the best and keep going! :thumb:

Hi Shikamaru,

I don't have any objection to mention the broker here but I want to keep this thread without any advertisement.

Yes it is possible to scale the same if (and only if) we look at price movement instead of looking at profit / loss in real time.

Apart from this, we need to consider stock selection before scaling the size of the trade.

Some stocks may not have enough transactions ( I mean Volatility). We should not scale the size of trade on those particular stocks. If we consider indexes, it is easy to scale but huge volatility may give loss.

It is better to pick the stock/ index before start to trade on that particular day.

Regards,
Nagappan

 

[Nagappan]

Today I traded VEDL and made loss.

VEDL lost its volatility after 9:45 am today.

Account Value in morning : ~ 2300 INR
Loss : 45 INR
Total Loss (inc Brok.) : ~ 85 INR
% Loss on account Value : ~ 4 %

Notes : Instead of concentrating on stock selection, I am sticking with VEDL for most of my trades in this experiment.

Regards,
Nagappan

 

[timepass]

How much quantity did you trade ?

 

[Nagappan]

How much quantity did you trade ?

Traded 600 shares in total today.

 

[rip07]

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

Hi Nagappan,

Nice thread!! You are right it does not matter how long is the losing streak, but position size. If trades are not in your favor for x days, we should be careful with position size as we have always chance to add when market is in our favor..Pyramiding.

Looking forward and expecting an interesting journey in trading world...

Thanks
rip07

 

[timepass]

Traded 600 shares in total today.

It wasn't in one go, was it ? You must've traded maybe 100-200 in one trade. What's your stoploss ?

 

[Shikamaru]

Agree with TP,
BO is worrisome due to leverage,
Tight SL with large quantity filled easy due flashing volatility / Whipsaw
Rather Wide SL with small quantity "may" increase winning ratio.

Can you please tell about your Money Management?

 

[timepass]

Agree with TP,
BO is worrisome due to leverage,
Tight SL with large quantity filled easy due flashing volatility / Whipsaw
Rather Wide SL with small quantity "may" increase winning ratio.

Can you please tell about your Money Management?

No, I am not saying anything about BO (I use it regularly). Just wanted to know those details... quantity, stoploss etc.