Teach Me To Fish

#1
Hi to All.

I have been a member at traderji for over a decade, without ever trading actively. I visit the forum on and off to read the sticky topics. I don't know how much i learnt.

Henceforth, i plan to trade regularly on an intraday basis, and am seeking the help of experienced and profitable market participants to kindly guide me through the process. I took a trade today. I will post about it shortly.

Regards,
AS
 
#2
I had shortlisted ICICI BANK because it gapped down, and then entered in to a consolidation range. I had placed a sell order below the low of the range, which got triggered at 285.20. My initial stop loss was above the last pivot high at 286.30. Once the stock moved in my favor by Rs. 1, i trailed the stop loss lower to 285.70, which subsequently got hit. I took a loss of 50 paisa. Please comment.
 

Attachments

Last edited:
#3
I took 2 trades today.

Trade 1

ICICI Bank opened weak. After a big down bar, it attempted a rebound, which started showing signs of exhaustion around yesterday's low. I sold short at 282.20. Covered half at 281.20; remaining at 280.20. Profit = Rs. 1.50

Trade 2

Bajaj Finance broke below a narrow consolidation range. I waited for the breach of a lower price trough for further confirmation. Entered short at 2111.70, with stop loss above the last reaction high at 2116.30. SL hit after formation of a bullish head and shoulders. Wanted to reverse; but screwed up the buy order. Loss = Rs. 4.60.
 

Attachments

PUCHU_2500

Well-Known Member
#5
abhijit,
you are a good discretionary trader.....doing right way....keep it up....good luck to you
 
#6
abhijit,
you are a good discretionary trader.....doing right way....keep it up....good luck to you
Thank you for your kind words. I have just begun serious trading. I don't have any strategy as yet. The purpose of jotting down the trades is I need mentor(s). I once again request experienced traders to point out my mistakes, and suggest ways to improve the process.
 
#7
I took 1 trade today.

ICICI Bank gapped up around 3%, but failed to show subsequent strength. It entered in to a narrow range, just above the low of the gap up bar. I entered short on a breach of that low at 294.20. The stop loss was placed above the high of the range at 296.20. I covered half the position at 293.20, and trailed the stop loss to break-even. I booked the remaining at 291.20. Profit = Rs. 2.

I have noted that i place my stop loss based on price action, but i tend to book profits at discretionary levels. I don't know if that is a wise strategy.
 

Attachments

Last edited:

Subhadip

Well-Known Member
#8
Thank you for your kind words. I have just begun serious trading. I don't have any strategy as yet. The purpose of jotting down the trades is I need mentor(s). I once again request experienced traders to point out my mistakes, and suggest ways to improve the process.
why they will help you??
 

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?