Hello All,
I am a day trader for past 11 months now, I started with an initial investment of Rs 3000. I learnt my way up the ladder losing and now able to manage, if not handsomely, a neat average on my present invesment of Rs 10000. (For past 3 months).
The reason for my writing is that I am unable to understand the trades I entered yesterday ie 31-12 2009 and would appreciate if some senior would come forward and explain.
I was having a nice day until I shorted 50 shares of LITL @ 571.5 (Total investment of Rs 28575) with a stoploss of 574.The stoploss was triggered and I got the message for the same at the bottom bar of my ODIN.
My second trade, which was SBIN 25 shares was again a loser.
However, to my horror, when I checked my net position after this trade, the LITL trade was not squared off and the stock was trading at 581. (Leading to an excess loss of Rs. 7 per share.)
My next trade was L&T which I shorted 30 shares @1686 @ 2:45 PM with a stop loss of 1695 which was later modified to 1689.
At 3:01.24 PM the stop loss was triggered BUT the share price did not go above Rs. 1688 on my terminal, neither the tick charts on the ODIN, nor the tick charts on the NSE show that it even touched 1688 at that given point of time.
As soon as my stop loss was triggered, the stock went on to touch a low of Rs. 1674.
I am enclosing a chart for your reference.
(Please note that I place stop loss orders after entering into the trade and modify it to book profits)
CAN SOMEBODY PLEASE EXPLAIN THE FOLLOWING:
With a capital of Rs. 10,000 (I withdraw anything above 10,000) and a trading limit of Rs. 50,000, how could the system approve the second trade, SBIN trades upwards of Rs 2250)??
If on an order of 50 shares and good volumes being traded in the market, the stop loss doesn't gets executed, what extra precautions do I need to take in future when I trade higher no. of shares.
What led to the failure of L&T trade (and a loss when I could have exited at a profit)
I just want to know, was it an unlucky day or I am a conspiracy theorist blaming my ill luck on my broker???
Also do let me know if a better platform than ODIN is available in the market?
I am a day trader for past 11 months now, I started with an initial investment of Rs 3000. I learnt my way up the ladder losing and now able to manage, if not handsomely, a neat average on my present invesment of Rs 10000. (For past 3 months).
The reason for my writing is that I am unable to understand the trades I entered yesterday ie 31-12 2009 and would appreciate if some senior would come forward and explain.
I was having a nice day until I shorted 50 shares of LITL @ 571.5 (Total investment of Rs 28575) with a stoploss of 574.The stoploss was triggered and I got the message for the same at the bottom bar of my ODIN.
My second trade, which was SBIN 25 shares was again a loser.
However, to my horror, when I checked my net position after this trade, the LITL trade was not squared off and the stock was trading at 581. (Leading to an excess loss of Rs. 7 per share.)
My next trade was L&T which I shorted 30 shares @1686 @ 2:45 PM with a stop loss of 1695 which was later modified to 1689.
At 3:01.24 PM the stop loss was triggered BUT the share price did not go above Rs. 1688 on my terminal, neither the tick charts on the ODIN, nor the tick charts on the NSE show that it even touched 1688 at that given point of time.
As soon as my stop loss was triggered, the stock went on to touch a low of Rs. 1674.
I am enclosing a chart for your reference.
(Please note that I place stop loss orders after entering into the trade and modify it to book profits)
CAN SOMEBODY PLEASE EXPLAIN THE FOLLOWING:
With a capital of Rs. 10,000 (I withdraw anything above 10,000) and a trading limit of Rs. 50,000, how could the system approve the second trade, SBIN trades upwards of Rs 2250)??
If on an order of 50 shares and good volumes being traded in the market, the stop loss doesn't gets executed, what extra precautions do I need to take in future when I trade higher no. of shares.
What led to the failure of L&T trade (and a loss when I could have exited at a profit)
I just want to know, was it an unlucky day or I am a conspiracy theorist blaming my ill luck on my broker???
Also do let me know if a better platform than ODIN is available in the market?