Sridhar's Trading Dairy

[Vijay11]

Trade details______Buy qty__________Realized Profit
1__________BANKNIFTY18MAYFUT___________-1,236.00
2__________BEL18JUNFUT____________________75,240.00
3__________BEL18MAYFUT____________________8,662.50
4__________CIPLA18JUNFUT____________________-950.00
5__________HDFCBANK18MAYFUT____________-5,525.00
6__________JUBLFOOD18MAYFUT_____________1,000.00
7__________M&M18MAYFUT____________________2,000.00
8__________MARUTI18MAYFUT_________________-1,725.00
9__________MCDOWELLN18MAYFUT______________500.00
10__________NIFTY18MAYFUT____________________-708.75
11__________TATAGLOBAL18MAYFUT____________-900.00
12__________TCS18MAYFUT________________________-37.50
Total_____________________________________________76,320.25

If you take out BEL trades, all others put together resulted in loss.

Hi,

Congrats, Friend!
Your achievement gives courage and confidence.
BTW, would like to know if you are using any indicators, EMA Crossover etc. (besides Volume along with 1M TF)
to help you in trading?

Hope I am not trespassing.

Happy Trading
Vijay

 

[sridhga]

Hi,

Congrats, Friend!
Your achievement gives courage and confidence.
BTW, would like to know if you are using any indicators, EMA Crossover etc. (besides Volume along with 1M TF)
to help you in trading?

Hope I am not trespassing.

Happy Trading
Vijay

I do not use any indicators or EMA etc. I used to observe this stock for days together in the month of February when it gave me a loss of 1 lakh. At the same time Indian Bank gave me Rs. 1.5 lakh loss. All those were long positions. That made me observe prices non-stop for days together. After losses, I moved to intra day, and I actively manage my trades and move targets and SLs actively when the trade is on. I am comfortable with 1 minute charts only. EOD, I definitely look at Daily, hourly weekly, charts etc. I always respect volume. I am not into technical analysis per se. If volume is moving the price against my position, I may exit trade.

Honestly, I do not have faith in technical analysis in the way it is showcased. I am more of a price action trader, just as I mentioned earlier.


Regards,


Satya Sridhar Garimella

 

[sridhga]

Trading is a zero sum game. If some one is losing, another is winning. Moreover, it is a probability game. So, if the winner keeps on playing, he may end up giving back. That is called over trading. Both winners and losers pay brokers, government and other institutions (NSE, SEBI etc) through transaction charges.

Basic assumption is that a trader steals profits from investor i.e he tries to buy low and then sell high to investor. But in reality, a trader tries to steal from investors, other traders. An investor is also a trader in a bigger time frame. So a trader is trying to steal from other traders. That is because the shares outstanding for a company is fixed. You are only trading a fixed supply of paper and so prices go up and down based on the desperation of buyer or seller.
Now, if the company issues more shares, it is trying to steal from the markets. (Oh those ESOPs and FPOs!)

Now, let us look at it another way, instead of the company issuing more shares, the exchanges create additional instruments called futures and people gamble in them trying to match the underlying share price, they are increasing the supply without changing the Earnings Per Share dynamics of the underlying company.

Stock Markets are a game of mass psychology and probability. Traders like us are like gamblers in a casino. End of the day, in a casino the house wins. Similiarly, in our markets, Brokers, Exchanges, SEBI, Government which together constitute "House" win.

These are my thoughts. Comments are welcome.


Regards,


Satya Sridhar Garimella

 

[Vijay11]

I do not use any indicators or EMA etc. I used to observe this stock for days together in the month of February when it gave me a loss of 1 lakh. At the same time Indian Bank gave me Rs. 1.5 lakh loss. All those were long positions. That made me observe prices non-stop for days together. After losses, I moved to intra day, and I actively manage my trades and move targets and SLs actively when the trade is on. I am comfortable with 1 minute charts only. EOD, I definitely look at Daily, hourly weekly, charts etc. I always respect volume. I am not into technical analysis per se. If volume is moving the price against my position, I may exit trade.

Honestly, I do not have faith in technical analysis in the way it is showcased. I am more of a price action trader, just as I mentioned earlier.


Regards,


Satya Sridhar Garimella

Hi,

That's wonderful. The good thing about it is you are on the winning side now, as you have evolved a strategy where you are
confident of managing your trades.

I too lost heavily in the months of Feb and March!
Even now also, I am in the Red.
Tried my hand on various strategies, but none paid back. The net result is winning days are becoming lesser and lesser.
Though I am quite good with the charts and can analyse them, but the outcome is unsatisfactory.
Your trading system drew my attention and trying to pick the tit-bits as explained by you.
Therefore trying to learn anew with BID ASK quotes along with an eye on Volume.
I know it will take a few days more to train my eye to catch the moment explicitly.

Thanks and keep posting your thoughts. Who knows they may turn out to be 'Pearls of Wisdom' for me!

Happy Trading.
Vijay

 

[sridhga]

Hi,

That's wonderful. The good thing about it is you are on the winning side now, as you have evolved a strategy where you are
confident of managing your trades.

I too lost heavily in the months of Feb and March!
Even now also, I am in the Red.
Tried my hand on various strategies, but none paid back. The net result is winning days are becoming lesser and lesser.
Though I am quite good with the charts and can analyse them, but the outcome is unsatisfactory.
Your trading system drew my attention and trying to pick the tit-bits as explained by you.
Therefore trying to learn anew with BID ASK quotes along with an eye on Volume.
I know it will take a few days more to train my eye to catch the moment explicitly.

Thanks and keep posting your thoughts. Who knows they may turn out to be 'Pearls of Wisdom' for me!

Happy Trading.
Vijay

In that case, I strongly suggest you read the book 'Trading in the Zone' by Mark Douglas. This book may not give you any trading techniques. But it helps build a trading mindset and philosophy.

 

[Vijay11]

In that case, I strongly suggest you read the book 'Trading in the Zone' by Mark Douglas. This book may not give you any trading techniques. But it helps build a trading mindset and philosophy.

Sure thing, Friend.
Already downloaded it.

Thanks once again.

Vijay

 

[sridhga]

BEL is in the green today as expected. Let us see how high it can go.
However volumes have not picked up.

 

[sridhga]

Tata Elxsi appears weak. It may go in the red. However, I am not trading it. Let us see. Right now it is at 1236.7 I may be right or wrong. Let us see.

 

[sridhga]

BEL is up for today. However, there seems to be no further traction. Will is slip down? or will some large buyer come in? Let us see.

 

[sridhga]

Could not trade today since, I could not get a hang on the direction of the market. The stock increased by more than 2 rupees intra day all major buying happened in just one minute for the whole day. All the gains were given up in the last 45 minutes since there was no real buying and it was all intra-day traders who propped up the share price and exited. On the other hand, Elxsi became weak as guessed in the morning. But, still, I can't trade Elxsi. I do not know how to handle it.