Hi everyone,
I am new to the forums but have been going thru them for a while. I decided to get into trading in my final year at college but got around to doing it finaly last month. I went through the basics at TraderJi, websites and even a course by (see end of post).
So, before I register for a DMAT and trading account, I thought why not try something on paper first.
This is how i did it.
I choose 2 stocks to analyze and place a trade on my Notebook (NB). I choose the companies through www.moneycentral.com , chose 2 based on news.
ICICI Bank and Hero Honda.
(I really apologize for inaccurate terminology or jargon)
These were the factors I noted:
Date of Trade (On): 27/08/09
Entry : At what price I will buy the share(s).
Exit : A Limit, if it goes above this value, I will sell off the share(s) and keep the profit.
Stop Loss (SL): A Limit, if it goes below this value I will sell it off and have a small loss.
Hero Honda:
On 27/8: Closing Price (C):1470
Buy 10 for 1470/- Rs. (Invested: 10 x 1470 = 14,700 Rs)
E: 1470 ; X: 1600 ; SL: 1415
On 28/8: C: 1504
On 31/8: C: 1511
On 1/9: C: 1534
On 2/9: C: 1568.20 .. and so on (today 3/8 10:57am: 1570)
This is just an example, and that too taken on the word of an analyst from MoneyCentral News. I had even done some analysis on it using Saints method, and used some of my own head too.
As for ICICI bank, my personal analysis says it might come down to 695. (The information I have given is nowhere nearr professional advice, its not even an advice, dont take it as one!! Its just my analysis...)
Hope I have not broken any forum rules by posting personal analysis. I will keep everyone updated if Hero Honda breaks my exit of 1600. If it does, I can make a profit of 1300 minus 15%of 1300 (a flying guess at my supposed brokerage and taxation!)
A few resources I used:
Saints awesome guides: http://www.4 shared. com/file/35182569/f5252717/Saint.html (Delete the blank spaces). It was compiled by @gobatman2001.
Informed Traders (saw 7 videos, 60 more to go!!)
[ link: http://www.youtube.com/user/InformedTrades ]
I am new to the forums but have been going thru them for a while. I decided to get into trading in my final year at college but got around to doing it finaly last month. I went through the basics at TraderJi, websites and even a course by (see end of post).
So, before I register for a DMAT and trading account, I thought why not try something on paper first.
This is how i did it.
I choose 2 stocks to analyze and place a trade on my Notebook (NB). I choose the companies through www.moneycentral.com , chose 2 based on news.
ICICI Bank and Hero Honda.
(I really apologize for inaccurate terminology or jargon)
These were the factors I noted:
Date of Trade (On): 27/08/09
Entry : At what price I will buy the share(s).
Exit : A Limit, if it goes above this value, I will sell off the share(s) and keep the profit.
Stop Loss (SL): A Limit, if it goes below this value I will sell it off and have a small loss.
Hero Honda:
On 27/8: Closing Price (C):1470
Buy 10 for 1470/- Rs. (Invested: 10 x 1470 = 14,700 Rs)
E: 1470 ; X: 1600 ; SL: 1415
On 28/8: C: 1504
On 31/8: C: 1511
On 1/9: C: 1534
On 2/9: C: 1568.20 .. and so on (today 3/8 10:57am: 1570)
This is just an example, and that too taken on the word of an analyst from MoneyCentral News. I had even done some analysis on it using Saints method, and used some of my own head too.
As for ICICI bank, my personal analysis says it might come down to 695. (The information I have given is nowhere nearr professional advice, its not even an advice, dont take it as one!! Its just my analysis...)
Hope I have not broken any forum rules by posting personal analysis. I will keep everyone updated if Hero Honda breaks my exit of 1600. If it does, I can make a profit of 1300 minus 15%of 1300 (a flying guess at my supposed brokerage and taxation!)
A few resources I used:
Saints awesome guides: http://www.4 shared. com/file/35182569/f5252717/Saint.html (Delete the blank spaces). It was compiled by @gobatman2001.
Informed Traders (saw 7 videos, 60 more to go!!)
[ link: http://www.youtube.com/user/InformedTrades ]
