A plunge in Indian Stock market

sspms2002

Well-Known Member
No holy grail buddy.....just narrow range trick with some smartness.....
Watch jindalsteel & idea tomorrow.....all the best :)

Hey Sammy...I just read ur post now..I think from next time onwards i will check the posts in the morning..
How did these stocks performed today?

For me it was a tough day..today was the day after 3 greens..and it turned red in face..
 

sspms2002

Well-Known Member
Today i was feeling little negative about trading....I started trading at 10.30..and saw that stocks were choppy...up and down....I then thought of not trading....

But its very difficult to break bad habits...and i always am looking for action..no matter if iam getting chopped..

Initial 3-4 trades gave me loss of 400...all of them after showing profits..
Then in an attempt to recover i moved in a stock with big size..and alas....as iam feeling more confident about my abilities...i held it even as it went against me..when it went far..i had to exit...and total loss became 1400...

But i was feeling that if i could find one good stock i will make it all back..but at the same time i got defensive and not wanted to use big size..

Found a good trade in Sunpharma...i booked 1600 in that and turned green....but i also became more aggressive...did a few other trades and turned into red and then i had to leave for office..

Stocks Traded: PFC , SUNPHARMA , TATAMOTORS
P&L : RED 398 after commissions

Though i made loss at the end..but i am feeling more confident about myself..But i need to be more disciplined and need to play at good price levels...
 

sspms2002

Well-Known Member
Today i was feeling little reluctant to trade as the market seemed choppy..

I started trading at 11 AM and got into Red zone after first few trades..
The way to get into negative is the classic mistake done by newbees..

I had taken 3 trades and on all 3 trades i was shaken up..as the price was not good and also the i had increased my default size to 300..

Had i had a good price..or held the small shakeup...i would have made around 500 in each trade..

Stock Traded: Multiple..Sunpharma, PFC , Tata Motors
P&L : Green 101 after commissions
 
...i would have made around 500 in each trade..
You know what, everyday, I rue about 100 trades that I should have taken and didn't.

It's a part of the work, leaving some trades that feel right. Difficult to figure out why, easy to blame oneself :). Look at them, and move on. Very slowly, in due course of time they will add to your experience and contribute to future trades.
 

sspms2002

Well-Known Member
You know what, everyday, I rue about 100 trades that I should have taken and didn't.

It's a part of the work, leaving some trades that feel right. Difficult to figure out why, easy to blame oneself :). Look at them, and move on. Very slowly, in due course of time they will add to your experience and contribute to future trades.
Thanks Timepass for kind words..Yes you are right...even if a trade is a looser...i need to learn from it..and slowly we will come to know what are the good prices to enter...
 

sspms2002

Well-Known Member
Trading mistakes which i have identified of now:
1. Entering at middle of a move..so the price is not too optimum to hold shakeouts..

2. The Biggest mistake i am doing is not having hard stops..as of now i am just keeping mental Stops..but am unable to execute the mental stops..and usually i am making big loss because of it...I have seen many instances, today too, when the price was past my mental stop and i did not took any action because i was not seeing much liquidity and thought that if i hit market order..the filled up price would have lot of slippage...ultimately when the price was well below my stop order price..i had to hit market out...I need to have a hard stop from next time...
 
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sspms2002

Well-Known Member
Today was an ok day for me..I had though that i would paper trade today to practice some high volatility stocks..But alas i could not resist the temptation to trade live market..

Entered at 11 AM..did only 4-5 trades...First position gave a loss of 300..
Next one in Sunpharma gave a profit of 600..

Then i bought ONGC 200 stocks at a good price in uptrend..although it was moving slowly..but i had though that i would watch how the stock plays its first pullback..(usually i used to get out at the first pull back)...so after showing 400 profit it came back near my price..i held on to it..it started going up again..just again when it reached the previous high..it started giving big spikes..in the next spike it again came to my entry price..i was cursing myself..

But sudden big buying happened and it went up..this time i had lost patience and booked whatever i was getting..

Stocks Traded: ONGC , SUNPHARMA , BHEL
P&L : Green 683 after commissions
 

sspms2002

Well-Known Member
Today was one of pathetic days of my trading..
I am disgusted...I could not hold onto good positions....and also played many stocks in search of a good one around 11-12PM (this is the time when my losses accumulate)

Got chopped multiple times..I would have to introspect my entries and exits...and also my many trades...

Stocks Traded: many
P&L : Red 983 after commissions

A few good things that happened today: I was long 300 shares in YESBANK at 692 and it looked like it may again touch 700..
But i was shaken up after it went to 694 and booked whatever it was showing..
I was again cursing myself when it broke 700 started trading around 704-705....

I am just getting a feel that i should not play according to 1 min chart...a 5 min chart would be better to play...
Any thoughts by other Traders??
 

sspms2002

Well-Known Member
Today was one of a good days of Trading...I woke up early today to watch the open..usually i start after 11 AM..but not today..

The stocks were moving very fast..and random..and I just felt that if (again) Price as well as decision making needs to be very clear to trade open...

Previously i had read in one of the threads that the first hrs HIGH and LOW act as important decision points..and i saw that happening today...

Anyways:

Stocks Traded: SSLT , HINDALCO
P&L : GREEN 2991 after commissions


This is my biggest profit till date since i started trading around 2 months back.
 

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