A plunge in Indian Stock market
- Thread starter sspms2002
- Start date
Today was kind of day laden with lot of activity...
I started at open and traded SPARC and lost 900 in my first trade..it was only for 30 seconds..then in the same i gained 1200 in another 30 sec..the stock was volatile and i though let me not play it any more..
Then i got a few small profits..
I saw PFC as going strong..I took 300 Long in it..and just when it was breaking up , i booked small profits of around 400 and realized the imp of holding...if i would have held it ..it itself would have given me 2k+ profit easily..
Then i also saw Yes Bank in after noon...it was down a lot..and trying to go up..i took 200 shares at 620 and it was looking to go till 630 at least..
But this is where amateur and professionals differ..as soon as it started its move...i booked at 624...and just for a small pullback there it swiftly moved to 631 then... a lesson learnt....that if you have a good entry price..hold the stock..
I was up 1400+ now...
In the same veins i also saw Asian Paints down a lot ..it was down Rs 48...and it was just consolidating..
Its MACD was below 0 and it was moving up..though it had not crossed the 0 line...i took 200 long...it was showing little profit..but just when MACD it reached the 0 line..a sudden gush of activity started..it tried to go up..but failed multiple times..but i had this impression that it will move up even after a little pull back...but as it was to be...it slowly went down and i held till it had cleaned my P&L..i was net down 300 now..
I played little more of ASIAN PAINTS and gained some money back...but it had surely ruined the day for me..
Stocks Traded: ASIAN PAINTS , PFC , SPARC , YES BANK etc..
P&L : Green 570 after commissions
I am just realizing that having may trades does not let the profits to be high...indeed its when less but quality trades that p&l becomes high...
I started at open and traded SPARC and lost 900 in my first trade..it was only for 30 seconds..then in the same i gained 1200 in another 30 sec..the stock was volatile and i though let me not play it any more..
Then i got a few small profits..
I saw PFC as going strong..I took 300 Long in it..and just when it was breaking up , i booked small profits of around 400 and realized the imp of holding...if i would have held it ..it itself would have given me 2k+ profit easily..
Then i also saw Yes Bank in after noon...it was down a lot..and trying to go up..i took 200 shares at 620 and it was looking to go till 630 at least..
But this is where amateur and professionals differ..as soon as it started its move...i booked at 624...and just for a small pullback there it swiftly moved to 631 then... a lesson learnt....that if you have a good entry price..hold the stock..
I was up 1400+ now...
In the same veins i also saw Asian Paints down a lot ..it was down Rs 48...and it was just consolidating..
Its MACD was below 0 and it was moving up..though it had not crossed the 0 line...i took 200 long...it was showing little profit..but just when MACD it reached the 0 line..a sudden gush of activity started..it tried to go up..but failed multiple times..but i had this impression that it will move up even after a little pull back...but as it was to be...it slowly went down and i held till it had cleaned my P&L..i was net down 300 now..
I played little more of ASIAN PAINTS and gained some money back...but it had surely ruined the day for me..
Stocks Traded: ASIAN PAINTS , PFC , SPARC , YES BANK etc..
P&L : Green 570 after commissions
I am just realizing that having may trades does not let the profits to be high...indeed its when less but quality trades that p&l becomes high...
Keep a watch on the Daily Charts to avoid overtrading.
Daily Chart of Asian Paints
Daily Chart of YesBank
Just a friendly advice.
Keep a watch on the Daily Charts to avoid overtrading.
Daily Chart of Asian Paints
Daily Chart of YesBank
Keep a watch on the Daily Charts to avoid overtrading.
Daily Chart of Asian Paints
Daily Chart of YesBank
Thanks Amit..Now by seeing Asian paints on daily..i could realize that it was only to be shorted...
But for Yes Bank..today seemed to be deciding day for LONG or SHORT...i guess it had given short signal for tomorrow...based on today's activity
whats your take on it?
Hope you shorted Yesbank today when it went below 20EMA.
Broke 20EMA around 821 and closed at 801.5
Broke 20EMA around 821 and closed at 801.5
I did saw it falling but i refrained from trading it as i was struck into another trade..But i also watched it slowly consolidate past its 20EMA and then move down...
Correction: I just remember that i shorted 200 shares at 820 and it came to 816...but then it suddenly came back at 820 and i hit out flat..then i started looking at TVS motors and not looked at Yes Bank there after....
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Today was a good day of trading..
I traded open in EXIDEIND and made Rs 600 on my first trade...
Then i looked at TVS motors and after a steep fall yesterday it had started to recoup..I was LONG in it around 290 and it was looking to go till psychological level of 300...but i booked with a small profit..at 292....it did came near 298 when i last watched it around 12PM...but with a lot of hard work..
Anyways i also traded a few more stocks and got small small profits...and i closed the day at around Noon...
Stocks Traded: TVS Motors, EXIDEIND, YESBANK etc
P&L : Green 2167 after commissions
Learning from today: although i felt i traded good today and restraint from taking risk after i was in some good profits..but i think i only captured 20-30% of the moves...
I traded open in EXIDEIND and made Rs 600 on my first trade...
Then i looked at TVS motors and after a steep fall yesterday it had started to recoup..I was LONG in it around 290 and it was looking to go till psychological level of 300...but i booked with a small profit..at 292....it did came near 298 when i last watched it around 12PM...but with a lot of hard work..
Anyways i also traded a few more stocks and got small small profits...and i closed the day at around Noon...
Stocks Traded: TVS Motors, EXIDEIND, YESBANK etc
P&L : Green 2167 after commissions
Learning from today: although i felt i traded good today and restraint from taking risk after i was in some good profits..but i think i only captured 20-30% of the moves...
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Amit..you just hit the Nerve...I didnot had any Stop Loss...I entered at around 820 and when the stock suddenly came up..i exited at my Entry price..
During my last few days i had held these kind of big stocks against me for long so didn't wanted to do it today and so i exited flat..
But now as i just saw its Graph it seemed that was just a spike on 2min/5min chart...
But how to decide on Stop loss on such stocks which can give good against move in short time...?
During my last few days i had held these kind of big stocks against me for long so didn't wanted to do it today and so i exited flat..
But now as i just saw its Graph it seemed that was just a spike on 2min/5min chart...
But how to decide on Stop loss on such stocks which can give good against move in short time...?
Trading without stop loss is a suicide in trading.There are various ways to put a stop loss and trail that stop.You can google about various types of stop losses.
Initial stop should be minimum high of the previous candle if shorting.
http://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
I have marked up YesBank chart.Seniors/Experts may correct me.
5 min chart of Yesbank
Initial stop should be minimum high of the previous candle if shorting.
http://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
I have marked up YesBank chart.Seniors/Experts may correct me.
5 min chart of Yesbank