Hey Guys,
So I've been trading for a few months now, and it's been one hell of a ride. I had initially started off as a fundamental investor, looking at only the long term. However, in May, I happened to come across the after market results news of Maruti Suzuki which did pretty well. So using logic, I decided to initiate an intraday trade in Maruti which worked out really well for me. The success of my first trade left me craving for more, and before i knew it, i was following the results of various companies and initiating trades, which soon turned in to speculation and as you could have probably guessed, i lost a lot of my capital. Ha smart me. So that's when i decided to go about this the proper way. I got hold of John J Murphys book, a few others, watched a whole lot of videos on youtube, read many blogs and started understanding the various aspects of technical analysis. I continued to make many mistakes which cost me dearly, but slowly i have been able to improve upon that. As of now, i am mostly using MA crossovers in conjunction with RSI and MACD while also paying attention to volume and market depth. However, what I am having a really hard time with is actually identifying stocks to day trade. I understand that people use screeners to alert them.
I'm not sure if this is the right place (it probably isn't) so i'll just leave it at this. It seems like the community here is really helpful and i'm really glad i finally decided to join this amazing community. I look forward to reading all the knowledge people have given.
Thanks Guys!
So I've been trading for a few months now, and it's been one hell of a ride. I had initially started off as a fundamental investor, looking at only the long term. However, in May, I happened to come across the after market results news of Maruti Suzuki which did pretty well. So using logic, I decided to initiate an intraday trade in Maruti which worked out really well for me. The success of my first trade left me craving for more, and before i knew it, i was following the results of various companies and initiating trades, which soon turned in to speculation and as you could have probably guessed, i lost a lot of my capital. Ha smart me. So that's when i decided to go about this the proper way. I got hold of John J Murphys book, a few others, watched a whole lot of videos on youtube, read many blogs and started understanding the various aspects of technical analysis. I continued to make many mistakes which cost me dearly, but slowly i have been able to improve upon that. As of now, i am mostly using MA crossovers in conjunction with RSI and MACD while also paying attention to volume and market depth. However, what I am having a really hard time with is actually identifying stocks to day trade. I understand that people use screeners to alert them.
I'm not sure if this is the right place (it probably isn't) so i'll just leave it at this. It seems like the community here is really helpful and i'm really glad i finally decided to join this amazing community. I look forward to reading all the knowledge people have given.
Thanks Guys!