Hi am new to this forum and trade also... without proper knowledge about trade i had lose some money in intraday trading... so now i decided to learn it in a proper way... i tried to learn some thread abt intraday trade... but iam not able to understand... so anyone pls guide me to learn it in easier way...
Beginner... need some guidance to learn intraday trading....
- Thread starter rammurali1611
- Start date
Below links may be helpful. Also search traderji there are tons of materials by experienced traders.
http://www.traderji.com/general-tra...ke-living-out-trading-only-10.html#post753503
http://www.traderji.com/general-tra...ke-living-out-trading-only-10.html#post757412
http://www.traderji.com/general-tra...ke-living-out-trading-only-11.html#post780253
http://www.traderji.com/general-tra...ke-living-out-trading-only-11.html#post779900
Above posts helped me a lot.
Most important is cut short the loss. SL SL SL......
from my experience -
1. Start with 10% of your capital in the trading account.(If you have 1L just put 10k in your trading account) if you are a newbie day trader, it is sure that you will loss 100% of this 10%
2. Follow 1 system with 1 high vol stock like Hindalco if you are trading stock. And don't change system/stock frequently.
3. Also don't go for big profit. take little profit initally max 1% of trading capital ( if you are employing Rs.10000 for 1 trade, exit with 100 rs profit ) till you learn and understand the market. ( using rs 10000 you can buy stock of rs 1Lakh high liquidity stock ) After 100 such trade you will double your money. Simple to say very difficult to do in the market.
4. Also put stoploss when you enter a trade max 1%.
5. So even if you fail 50% time your capital is still safe with you and you can trade again.
6. It is important to gain experience. and overcome your psychological road blocks. It was very difficult for me to exit with a loss and i lost almost 25k during my initial days within no time. Still just breaking even....
so much from my experience.
Wish you good luck:clap:
Brill
http://www.traderji.com/general-tra...ke-living-out-trading-only-10.html#post753503
http://www.traderji.com/general-tra...ke-living-out-trading-only-10.html#post757412
http://www.traderji.com/general-tra...ke-living-out-trading-only-11.html#post780253
http://www.traderji.com/general-tra...ke-living-out-trading-only-11.html#post779900
Above posts helped me a lot.
Most important is cut short the loss. SL SL SL......
from my experience -
1. Start with 10% of your capital in the trading account.(If you have 1L just put 10k in your trading account) if you are a newbie day trader, it is sure that you will loss 100% of this 10%
2. Follow 1 system with 1 high vol stock like Hindalco if you are trading stock. And don't change system/stock frequently.
3. Also don't go for big profit. take little profit initally max 1% of trading capital ( if you are employing Rs.10000 for 1 trade, exit with 100 rs profit ) till you learn and understand the market. ( using rs 10000 you can buy stock of rs 1Lakh high liquidity stock ) After 100 such trade you will double your money. Simple to say very difficult to do in the market.
4. Also put stoploss when you enter a trade max 1%.
5. So even if you fail 50% time your capital is still safe with you and you can trade again.
6. It is important to gain experience. and overcome your psychological road blocks. It was very difficult for me to exit with a loss and i lost almost 25k during my initial days within no time. Still just breaking even....
so much from my experience.
Wish you good luck:clap:
Brill
Take a pen and paper and work out your plan first. As the member above said keep a small amount in your trading account if you do not have the discipline yet.
I am a very new trader myself but have been making consistent gains for the last 6 trading sessions and for me it is a good achievement.
Here is what I do:
I have a two separate lists of stocks, First list for the stocks in a long term uptrend and second for stocks that are in a long term downtrend and depending on which way NIFTY is going I pick the list in the same direction. For example I used the list of stocks in a downtrend today as NIFTY was sliding down.
I do not trade in the first one hour and just keep looking for a clean opportunity. I make a note of stocks that are in a lazy uptrend or downtrend and then get ready once the trend gets more apparent as time goes by. I prefer lazy trends because those stocks let me have very tight stop loss and I start buying one bit at a time till the trend remains intact and keep moving the stoploss towards the price to make sure my profits are not wiped off. I normally let the stoploss trigger me out instead of working with a target.
This may seem like a long process but my trades dont last more then 5 mins mostly but some times if the trend doesn't break I would keep going at it till the trend reverses and if it looks like a good trade on the opposite side I would have a go at it again in the opposite direction as well to carve out a tine profit on the way back.
It is important to pick very liquid stocks. Do not get trapped in stocks like Onmobile etc.
Another point to note is that I normally dont place a target order and just make do with stoploss instead if the trade size is small but for larger trades I keep selling one bit at a time instead.. You will develop your own way as you go along.
Look at ways to contain your losses instead of looking for ways to make profits. Never calculate the money you are making and only pay attention towards your trade.. it doesnot matter if you are not making money, the only thing that should matter to you is to get out of the trade when it stops going the way you want it to go. Do not wait for the price to move your way... Knowing when to get out without looking at weather you are making money or not or how much you are making out of that trade is the key to success.
PS: Do not take my word for anything. I am a newbie myself and learning. I just typed what I am currently practicing and it is working for me but it may not work for you as you may have a different personality.
I am a very new trader myself but have been making consistent gains for the last 6 trading sessions and for me it is a good achievement.
Here is what I do:
I have a two separate lists of stocks, First list for the stocks in a long term uptrend and second for stocks that are in a long term downtrend and depending on which way NIFTY is going I pick the list in the same direction. For example I used the list of stocks in a downtrend today as NIFTY was sliding down.
I do not trade in the first one hour and just keep looking for a clean opportunity. I make a note of stocks that are in a lazy uptrend or downtrend and then get ready once the trend gets more apparent as time goes by. I prefer lazy trends because those stocks let me have very tight stop loss and I start buying one bit at a time till the trend remains intact and keep moving the stoploss towards the price to make sure my profits are not wiped off. I normally let the stoploss trigger me out instead of working with a target.
This may seem like a long process but my trades dont last more then 5 mins mostly but some times if the trend doesn't break I would keep going at it till the trend reverses and if it looks like a good trade on the opposite side I would have a go at it again in the opposite direction as well to carve out a tine profit on the way back.
It is important to pick very liquid stocks. Do not get trapped in stocks like Onmobile etc.
Another point to note is that I normally dont place a target order and just make do with stoploss instead if the trade size is small but for larger trades I keep selling one bit at a time instead.. You will develop your own way as you go along.
Look at ways to contain your losses instead of looking for ways to make profits. Never calculate the money you are making and only pay attention towards your trade.. it doesnot matter if you are not making money, the only thing that should matter to you is to get out of the trade when it stops going the way you want it to go. Do not wait for the price to move your way... Knowing when to get out without looking at weather you are making money or not or how much you are making out of that trade is the key to success.
PS: Do not take my word for anything. I am a newbie myself and learning. I just typed what I am currently practicing and it is working for me but it may not work for you as you may have a different personality.
Thank u both for sharing ur ideas.... Actually am going with kotak securities... they were offering super multiple of 14 times exposure.. but its only for particular scrips.. and with auto square off option... will u suggest me to use this option... or whether it is best to do with my own money...???
See, if you want to learn Day Trading, trading stocks , my suggestion is to put just Rs. 2500 in your trading account. Yes you have to use leverage. (and important - if you can not double a small capital by trading, you will never double a big capital. I believe that Capital is not important but right trading practice IS)
Select one high liquid stock.
Learn one system as explained in several threads in traderji
(you have to find out one suitable system by doing home work and trying the system on old data to verify-when to enter/exit etc). And you should have full belief in your system.
Find out the entry, Stop Loss and exit strategy using the system. Strictly go with the system and execute the trade.
Find out how the results pan out... this way you can limit the loss of capital.
Initially concentrate on the trade not profit. Why you enter a trade? is it going your way? if not exit at SL. look for another trigger and do the same. if it is going your way when to take profit etc.....
Learning is a never ending process in Trading and Traderji is the right place for Self learning
Best wishes for a long and successful trading journey!!!
Regards,
Select one high liquid stock.
Learn one system as explained in several threads in traderji
(you have to find out one suitable system by doing home work and trying the system on old data to verify-when to enter/exit etc). And you should have full belief in your system.
Find out the entry, Stop Loss and exit strategy using the system. Strictly go with the system and execute the trade.
Find out how the results pan out... this way you can limit the loss of capital.
Initially concentrate on the trade not profit. Why you enter a trade? is it going your way? if not exit at SL. look for another trigger and do the same. if it is going your way when to take profit etc.....
Learning is a never ending process in Trading and Traderji is the right place for Self learning
Best wishes for a long and successful trading journey!!!
Regards,
