A plunge in Indian Stock market

[sspms2002]

Dear sspms...buy pipava defence...bajaj hindustan....oil india....bharti....

Hi Rajivr01..what is the basis for the above recommendation?

 

[sspms2002]

Today was also a day when my P&L swung from Green to Red and then back to Green..
I looked at 3-4 stocks today..BHEL , ICICIBANK , HDIL , ONGC...

It really sets a negative tempo when your initial trade turns red and you book Negative.
I booked -250 on my first trade after seeing small profit..I guess the mistake i did was to buy on 3rd green candle in an upmove...and when it turned against me i didnot hit my Out soon..

Anyways my second trade gave me + 600 in BHEL and i was sitting Green 350.
Then i tried one peculiar thing...ONGC was moving up..i bought 1/3 my usual size to get in and though that if it makes a few pullbacks i will add more..
I also did the same thing after it retracted back 50 paisa...but then it didn't stopped there and continued move down..i had to finally hit out and lose all my profits..

Mistake: I guess i didnot gauged the situation well..the stock might be moving in small range and also my entry price was not good...If entry price is not good ..better be prepared to hit STPLOSS fast..


At the end i traded a couple of more stocks and could get back in Green.

Stocks Traded: ONGC, BHEl , HDIL , ICICIBANK
P&L : Green 324 after commissions.

 

[Moonlite]

On whole looks to be a good session.......any profit at the end of day is your profit.

 

[timepass]

sspms2002, what's your capital ?

 

[sspms2002]

sspms2002, what's your capital ?

I am trading with Rs 50000 to 1 lakh worth of stocks in any given trade.

 

[sspms2002]

On whole looks to be a good session.......any profit at the end of day is your profit.

Thats true! How was your day?

 

[sspms2002]

Yet another day where my folly was getting too aggressive after initial losses.

I opened the day trading HINDPOWER , it had already moved up and i entered long in anticipation of further move..it didn't move much and i had to hit my Out. Loss of 300

Then i traded BHEL , 2 trades in it. first gave me profit of Rs 350 and second gave me a loss of 250. I was net negative now although small.

Then in seek of more action , as stocks were not moving much , i looked at 52 week high scanner and found out a stock not so famous...I thought of taking a small position and entered it..once it started going to my direction i added more...But then alas...it gave a huge spike and as it was a thin stock...less volume ..i was not able to get out on time..i followed the offer till it was down a lot...and then at the lowest of the spike i hit the MARKET out...It gave me loss of 1200.

I got more aggressive then...kept accumulating more small losses.I went till Negative 2000.

But then i got a good move in TATA STeel...It was in uptrend and moving good..
I got a traded of nearly Rs1500 in it....as i captured 4 rupee move in it...

Mistakes: I traded aggressively after initial losses..also i started trading unknown stocks with out watching much..
Also the volume of the stock was not good..I think only A grade stocks are good for a beginner.
To Trade morning session , the price needs to be good..else wait till 10.30 AM.

Also i do not watch any indicator when i am trading..i will need to have a look at them also for confirmation.

Stocks Traded: HINDPETRO , TATASTEEL , TATAMOTORS , BHEL , ONGC..etc
Net P&L : Red 489 after commissions..


Any advise from fellow traders is always welcome.

 

[throwawayacc123]

Yet another day where my folly was getting too aggressive after initial losses.

I opened the day trading HINDPOWER , it had already moved up and i entered long in anticipation of further move..it didn't move much and i had to hit my Out. Loss of 300

Then i traded BHEL , 2 trades in it. first gave me profit of Rs 350 and second gave me a loss of 250. I was net negative now although small.

Then in seek of more action , as stocks were not moving much , i looked at 52 week high scanner and found out a stock not so famous...I thought of taking a small position and entered it..once it started going to my direction i added more...But then alas...it gave a huge spike and as it was a thin stock...less volume ..i was not able to get out on time..i followed the offer till it was down a lot...and then at the lowest of the spike i hit the MARKET out...It gave me loss of 1200.

I got more aggressive then...kept accumulating more small losses.I went till Negative 2000.

But then i got a good move in TATA STeel...It was in uptrend and moving good..
I got a traded of nearly Rs1500 in it....as i captured 4 rupee move in it...

Mistakes: I traded aggressively after initial losses..also i started trading unknown stocks with out watching much..
Also the volume of the stock was not good..I think only A grade stocks are good for a beginner.
To Trade morning session , the price needs to be good..else wait till 10.30 AM.

Also i do not watch any indicator when i am trading..i will need to have a look at them also for confirmation.

Stocks Traded: HINDPETRO , TATASTEEL , TATAMOTORS , BHEL , ONGC..etc
Net P&L : Red 489 after commissions..


Any advise from fellow traders is always welcome.

Learn price action....

 

[kiran_thiru]

Yet another day where my folly was getting too aggressive after initial losses.

I opened the day trading HINDPOWER , it had already moved up and i entered long in anticipation of further move..it didn't move much and i had to hit my Out. Loss of 300

Then i traded BHEL , 2 trades in it. first gave me profit of Rs 350 and second gave me a loss of 250. I was net negative now although small.

Then in seek of more action , as stocks were not moving much , i looked at 52 week high scanner and found out a stock not so famous...I thought of taking a small position and entered it..once it started going to my direction i added more...But then alas...it gave a huge spike and as it was a thin stock...less volume ..i was not able to get out on time..i followed the offer till it was down a lot...and then at the lowest of the spike i hit the MARKET out...It gave me loss of 1200.

I got more aggressive then...kept accumulating more small losses.I went till Negative 2000.

But then i got a good move in TATA STeel...It was in uptrend and moving good..
I got a traded of nearly Rs1500 in it....as i captured 4 rupee move in it...

Mistakes: I traded aggressively after initial losses..also i started trading unknown stocks with out watching much..
Also the volume of the stock was not good..I think only A grade stocks are good for a beginner.
To Trade morning session , the price needs to be good..else wait till 10.30 AM.

Also i do not watch any indicator when i am trading..i will need to have a look at them also for confirmation.

Stocks Traded: HINDPETRO , TATASTEEL , TATAMOTORS , BHEL , ONGC..etc
Net P&L : Red 489 after commissions..


Any advise from fellow traders is always welcome.

i am also same as you as learner trader. trading in options.

first choose only 5 stocks maximum. more stocks gives more confusion & chances less to enter in right time. so choose stocks only 5.

if you using amibroker, here number of indicators available. choose one. observe that and understand that indicator behavior, then start trading based on that.

happy stressless trading.

 

[sspms2002]

i am also same as you as learner trader. trading in options.

first choose only 5 stocks maximum. more stocks gives more confusion & chances less to enter in right time. so choose stocks only 5.

if you using amibroker, here number of indicators available. choose one. observe that and understand that indicator behavior, then start trading based on that.

happy stressless trading.

Thanks Kiran_thiru...I will today jot down few stocks, i will only look into them only..

Also i only have used MACD & STOC in my charts..but they also seem not giving correct signal...it seems they are not pertinent to short time frames..
do comment..