Confused day trader

Sorry, but stepping out of the field after failures is not my cup of tea. I would rather work on my mistakes and do anything to be successful. No offence but I would have appreciated if you had shown some optimism to guide me so i could work on my negatives (like other seniors).

Thanks Rajeabc, for your input.

becoz our markets are manipulated.search for one of my threads where i have shown videos of FII`s using softwares to do automated trading.

also all these technicals usually go for a toss when the big fishes wana screw you.its a loser`s game i have to say i have tried 4 times without succeeding , it`s your money if you wana learn the hard way

:clapping: Money rules...:lol:

I believe every trader has to under go the learning phase which is really stressful.

As a newbie starts gaining market insight slowly after loosing money.

Only few selected with Practice,Patience,Persistence becomes good traders and others quit the game in the middle.

Day trading is for professionals with strict discipline and money management rules.

Finding the best strategy for an individuals mindset I believe is the most toughest part.
It need not be a holy grail but at least it should be a grail.

People say don't just believe what ever it is written in the forum for trading is a risky game.
Make sure to back test a strategy.
Don't enter the trade before mastering your strategy.

Brokerage and Taxes kill traders.

Have clear rules for entry,exit,stop loss.

Have a 2x Target and 1x stoploss.Even 5 win 5 loss will end up with net profit.

I believe it is possible to win in day trading but with a good strategy followed consistently.

I wish you all the best.

I agree the markets are manipulated by the big fishes. But the point is to understand it and go with them. They too cannot manipulate the market so much that all small traders quit. I can give you an example of Aster Silicate when it rocked for few days. I missed the bus in the first day but was sure that it is manipulated and it will go on for few more days. I entered the stock in the second day and it hit upper circuit giving me a handsome profit to exit. We all know what happened to it after that but as a trader I made handsome profit which I would not have been able to make so quickly from any unmanipulated stock.

I think the biggest victims of manipulation are the investors and that too the ones who do not invest with fundamental parameters. We as a trader have the gift of a stop loss but a investor if get caught up in a stock like Aster Silicate or Mavens Biotech or Samyak International or Austral Coke (these are the stocks were I sensed manipulation very early on) do not have any exit route and will lose all their gains from other investment. I tell you very high number of investors do get caught up in such fraud companies. So do we even stop investing?

I think NO. So the same answer is with trading also.

Today, I tried Castrol again, but seeing the weakness on the chart, this time I shorted and kept checking lower highs and lower lows...... Today, I just followed line chart and not candle chart and not even Stochs and booked profit when it started turning up and broke the last lower high.

Not sure if that is how it is done...........but at least I made something after weeks of losing.


I think this thread may help many newbies like me who have been swinging between practical vs. theoretical stuff .

Thanks guys, who have been a big helping hand here.

I wish at least one of your stocks GO IN UPPER CIRCUIT.

For other newbies, I just read Dhiraj's theory of 2652 and found it a really good one. As it is a bit complicated one, I have just converted that to an excel sheet. So, all you need is understand the basics of the theory, collect and put those values, and then you will get your targets for the day as well.

But please paper trade first, which I never did and lost my savings.

Enjoy!!:clap:

Thanks Dude !!!

Could any body with good stuff in Ami or Metastock backtest this 2652 strategy and help us with the results.

Is there any site, where we can get previous day's high and low values of all the stocks within today's trading time?

I tried NSEIndia, but that has previous day's closing value.

Try the TAME lite charting facility at NSE.