A plunge in Indian Stock market

[sspms2002]

Time and again i come back to Trading when i had to spend time on something else ...I have to stop Trading for a while....

But i am finding it quiet difficult and when we day trade it kinda take away those 9.15 to 3.30 time slot away from you , even if we don't have position..

Anyways today i feel i did one good trade and one bad

Good Trade: LONG RAJESH EXPORTS at 400 shares at 360 odd and got out at 369 odd in first 30 mins of open...that trade was good and with out much pullbacks.. Made 3100 there..


BAD Trade : LONG ISFT 200 shares at 574 odd and got out at 580 odd...
ISFT was behaving weirdly and was moving up and down..i had a long at 574 and after showing some profit it came back and started towards 570...the problem with ISFT is that its already over bought and i was scared if it starts to go down , i would not get a proper out and slippage itself would cost me more then 1000 bucks at least...

Any ways i feel i was lucky that it came to 580 level and i booked swiftly..later it went down...

Made around 1200 there..

Stocks Traded: ISFT , RAJESH EXPORTS
P&L : Green 4333 after commissions

 

[jagankris]

Time and again i come back to Trading when i had to spend time on something else ...I have to stop Trading for a while....

But i am finding it quiet difficult and when we day trade it kinda take away those 9.15 to 3.30 time slot away from you , even if we don't have position..

Anyways today i feel i did one good trade and one bad

Good Trade: LONG RAJESH EXPORTS at 400 shares at 360 odd and got out at 369 odd in first 30 mins of open...that trade was good and with out much pullbacks.. Made 3100 there..


BAD Trade : LONG ISFT 200 shares at 574 odd and got out at 580 odd...
ISFT was behaving weirdly and was moving up and down..i had a long at 574 and after showing some profit it came back and started towards 570...the problem with ISFT is that its already over bought and i was scared if it starts to go down , i would not get a proper out and slippage itself would cost me more then 1000 bucks at least...

Any ways i feel i was lucky that it came to 580 level and i booked swiftly..later it went down...

Made around 1200 there..

Stocks Traded: ISFT , RAJESH EXPORTS
P&L : Green 4333 after commissions

Why ISFT is a bad trade ? - it is also a good trade I guess.
Both the trades entry with in first 5 minutes ? - Need enormous guts :thumb:

 

[sspms2002]

Why ISFT is a bad trade ? - it is also a good trade I guess.
Both the trades entry with in first 5 minutes ? - Need enormous guts :thumb:

Jagankris..I entered RAJESH at open , but ISFT after an hrs time..

ISFT i felt was a bad trade as i saw a profit and didn't book it and then it went against me a little and that actually brought fear and i felt i was not in control.... Also i suspected that had it broken 570 it would have stopped at around 560 area and would have handed me a good loss...

Later that same thing happened and it went down till 540 area...but i was already out then safely...

 

[Sunnyraj]

Hi sspms2002, after going through your recent posts, i watched Rajesh exports and Isft.

Both these are in a strong uptrend. Could you please share how did you manage to find these stocks?

Just compare Nifty daily with these two.I mean for a trend trader these are like heavenly stocks

Daily charts for last 9 months

Nifty

Rajesh Exports

Isft

 

[sspms2002]

Hi sspms2002, after going through your recent posts, i watched Rajesh exports and Isft.

Both these are in a strong uptrend. Could you please share how did you manage to find these stocks?

Just compare Nifty daily with these two.I mean for a trend trader these are like heavenly stocks

Daily charts for last 9 months

Nifty

Rajesh Exports

Isft

HI Sunnyraj...

To be frank i am part of a whatsapp group and i am silent observer there..i just pick on the stocks they discuss and then try to fit them into my trading...

And always 52 week high is one criteria that i watch...

 

[sspms2002]

last 2 days were mixed for me..

One both these days i did 1 good trade and a couple of bad trades that actually made me look a little weird..

Yesterday:
Good Trade: LONG RAJESH EXP 400 shares at 364 odd and got out at 371 at open..
Made 2700 there...

BAD trade: this was peculiar as it was not bad , but turned bad...
LONG 150 shares in WELSPUN India at 708...went till 725 but didnot booked, as i was wanting more :annoyed: , it just had made new 52 week high and i was thinking it to give a good move...and so i waited till it reached back to my price..i still held and it dragged down to 696 at close.. Took for delivery..




Today:

Good trade: LONG ISFT 200 shares at 492 and got out at 510...
made 1800 there...

Bad trade: WELSPUN again crossed my buy price of 708 and went till 715..not booked..again it came back to 700...holding again..

1 More bad trade:This trade was an epic bad trade...because i was totally wrong on the trend...
BPCL was down 30 rs and was at 886 area and had just given a short rally...i though that this might be a reversal and got 100 LONG...it started coming down , but as i was in profits so didn't cared much..it came down to 880 and i was still thinking it should now move up...slowly came to 874 and i had a loss of 1600 odd in it..i just hit booked that loss...and in revenge mentality i took 200 SHORT at 874....it went south again but with little less ease...but i booked at 865 and covered all loss of it...
I was net flat in BPCL....but i feel i have not acted well in it...


Stocks Traded last 2 days: BPCL , ISFT , RAJESH EXP , WELSPUN INDIA
P&L : 2700 + 1700 booked
P&L : -800 not booked (WELSPUN Holding)

 

[sspms2002]

Not a good day for me...but good thing that is happening with me that i am doing the same mistake again and again and now it is getting ingrained in my mind that a exiting a losing position gives many many opportunities to make that money back....if we EXIT the losing position sooner rather than later..

I did another big mistake on Friday...I just scanned the highs and saw LAO PALA stock at its high...it was about to cross 500...with some strength...

I became interested in it with out considering:
1. It was running high from previous 2 days
2. It was already up more than 30 % in 2 days..
3. It was overbought with heavy volume...

I took 150 LONG at 498..momentarily it went to 505 and was not able to hold..
I just waited for it to retest 500 level..i mean 490-495 level..

It reached there and was not going down , but also was not going up from there...it was 3.30 then and i took it for delivery...

Today it opened weak and started slide south..I knew that it would now go till 430-440 area but was hesitant to hit my out with a loss of Rs 3000 odd..

At day end it dragged to 444 and although its holding , but a weak opening could bring it to 380 area...

I have become a investor in it...not out of choice but mazboori...


Luckily the other LONG stock that i took last week , WELSPUN made its 52 week high....and it stayed near 740 range..

Stocks Traded: LAO PALA , WELSPUN (both delivery and held)
P&L : Running profit of Rs 3500 in WELSPUN
Running loss of Rs Rs 7500 in LAOPALA

Learning:
1. I think i am unable to get out of losing position, and still hope
rather than exit..
2. Not taking SHORT Position even when obvious..

 

[sspms2002]

Last week was a loose one for me...I maintained my delivery based positions..
Overall in those positions i am at no loss no profit..

WELSPUN INDIA: Buy at 509 and sold at 577..realized a profit of Rs 7000 approx.

LA OPALA : Averaged it and now the price is 475 and i have 250 shares.
Current P&L : running loss of Rs 7500 approx

MAX INDIA: LONG 200 shares at 533
Current P&L : running profit of Rs 1000 approx.

I am just watching my P&l and noticed a peculiar thing..

With my positions open , i saw the P&L to go till green Rs 5000- Rs 6000 daily and by day end it would reach neutral in last 3-4 days...
I then think that if i would have day traded i could have captured more profits..but i guess it is just an afterthought...

 

[sspms2002]

Yesterday was tough day..market bled and it affected all my delivery based positions...

The good and bad thing that happened is i was away and could not take any preventive action...but luckily my stocks didnot turned much deep red..

Today turned out to a reflex action by Bulls..

MAX India: it started running up and i was expecting it to break its 52 week high of around 545...it came there and kind of struck there..till late afternoon..

But i just kept my urge down and didnot wanted to book that profit..

Later during end of day it broke 550 level and i booked profit at 551...
Made around Rs 4000 there..

La O pala :..it struck at its position and didnot do anything...neither did i.
It had peculiarly very less volume than average..

JBF Industries: I was keep a watch on JBF as i had traded it last week..
It fell to 259 yesterday...and today it opened strong..
I took 300 shares of it at 262..it kept rising till 272-273 swiftly..

But its strength was telling that it would go above 280 at least..

I resisted the temptation to booked good profit on it and later booked it when it went past 281.. made a profit of around 6000 there


Stocks Traded: MAX India , La Opala , JBF Ind
P&L : Green 10319 after commissions..

This is the first time that i saw and booked a profit of more than RS 10000 on a single day since i started trading...

I am still bullish on my both stocks..

 

[sspms2002]

I will write 2 posts to cover up what i had been through this week & last..It was a tough tough time for me as i had done the classicial mistake again which EVERYONE who wants to profit in stock market should avoid..

Last week: I had LAO OPALA taken for delivery and it was already 7500 in loss..

The market was performing good but this stock was slipping everyday although on Low volume.. i with my little experience feel that a fall in low volume is not a down move but just a profit booking..So i was not covering the stock..

But slowly it dragged down from 450 level to 425 and i got frustrated as this money was blocked and i could not use it in many other opportunites...so I exited just out of frustration..Booked a loss of around Rs 10000

Then out o frustration i got into RAJESH EXPORTS as it was at its 52 week high...I bough 200 shares at 545...it made a high of 556 and then started down... I held it..

JUST DIAL: I also bought Just dial 100 shares at 1120..it was trying to break 1128-1130 , if it had broken that level it would have flown..but that was no to be...it also started slipping to 1100 level... I held it as well.


Later that week both RAJESH EXPORTS gave a nasty 10% down move and i was still holding , just in hope, rather than rationally exiting it..
It showed a loss of around Rs 15000


Just dial also did the same...it started coming down slowly and i was just preservent that it has fallen a lot and it should not fall much..but market has its own ways...it came down to 1007.....mean while i had added another 100 at 1050...this also showed me a loss of Rs around Rs 20000...


I learnt the hardway that if i had cut the losses at Nip...just when they were 1000-2000..i would have been much better off both money wise and emotionally...

And also would have caught a few other opportunities and would have made the losses back..


Anyways...this week was a bit different..