A plunge in Indian Stock market

[Sammy.Young]

Hey Sammy...I like your confidence...for me i am not selecting any stock in particular..but i do watch 5-6 of my pet stocks..

I also looked at LT , it makes good movement..but i think i have not graduated to play a little more volatile stocks having slippage..

Also i just heard about NR4/NR21 for the first time...I am just googling to find out more..

Why google it when u can TJ it :rofl:

Check this -->>
http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

:clap::clap:

 

[sspms2002]

Today turned out to be a bad day for me ..Trading was tough as the stocks were moving in a range..I started trading after 10.30 and by then all the good moves were nearly over..

Just to find good stocks i traded multiple stocks , but only one stock gave me profit , all other took from me..

Stocks Traded: BHEL , TATAMOTORS , ONGC, HINDPETRO
P&L : Red 970 after commissions

 

[Sammy.Young]

Try Arvind tomorrow for shorting & Reliance for long....hope you will have green day tomorrow....just 2 stocks u need for greenery....all the best

 

[sspms2002]

Try Arvind tomorrow for shorting & Reliance for long....hope you will have green day tomorrow....just 2 stocks u need for greenery....all the best

Thanks Sammy..i will keep a watch on them..

 

[sspms2002]

One of the reasons for large losses to new traders is over trading..I am also among them..

Also there is an urge to get into a new position as soon as we are stopped out..This urge surely is an account killer..

I will try to keep this urge down..may be one way is to have some parameters before entering a trade..

This thread will also help in putting my experiences and getting feedback from fellow traders on a balanced trader psychology..

 

[Sammy.Young]

Hi buddy,

did u see Arvind low & Reliance high...i hope it benefited u

 

[sspms2002]

Hi buddy,

did u see Arvind low & Reliance high...i hope it benefited u

Hey Sammy..I did looked at Reliance...But i did not trade in open..but saw that Reliance did gave an upmove and then a down move..

How do you gauge that a stock might go up or down? Is it based on NR*?

 

[sspms2002]

Today was also a tough day to trade...It seems stocks give a good move but for me lettle less tradable at open..and after it they start either to consolidate to become more choppy..

I am usually getting chopped..although i the stock does move in my direction and show profit..but after a short move it will give a spike and i fear out..with small losses..

I have been thinking hard on how to handle it better...one of the way i thought is to have less number of trades and have better setups and price..rather entering just based on trend..

Anyways i traded multiple stocks today , i think 5 of them..
Opened with a loss of 300 and went down till 600...
Then got a few good trades...of 600 and 500 profits..

Stocks Traded: BHEL , RELIANCE, TATAMOTORS , BPCL , HINDPETRO
P&L : Green 511 after commissions.

I also used 5 mins charts today and found it to be better than a 1/2 min chart to trade..
Else i was exiting on Noise on a 1/2 min chart..

On a 5 min chart..i did wait till the candle closed to decide if i want to exit or not.

 

[Sammy.Young]

Yes because of bewrishness, Reliance failed to stay in green but 1000+ coming soon so keep it in ur list....
For tomorrow, kindly watch (&play if u wish to) COALINDIA
all the best

 

[sspms2002]

Yes because of bewrishness, Reliance failed to stay in green but 1000+ coming soon so keep it in ur list....
For tomorrow, kindly watch (&play if u wish to) COALINDIA
all the best

Hey Sammy..Thanks..I will surely keep a watch on COALINDIA.
Hows is it going at ur end? How long have you been day trading?