Diary of a day trader - Part 2

[soft_trader]

American Depositary Receipt, http://quote.morningstar.com/stock/chart.aspx?t=RIGD&culture=en-US&region=gbr

Actually we both are correct.

http://www.londonstockexchange.com/...summary.html?fourWayKey=US7594701077USUSDIOBE

 

[vssoma]

No Dan, I think it works differently. Govt has taken this bold step in spite of being a minority govt and with that too election is knocking the door.

This will show as a sign that govt is pushing reforms, and will help in bringing down the CAD, Fiscal etc. etc. So market will gap up tomorrow. Remember that last time Govt. has done some reforms and market has given a thumbs up to that.

yeah....it seems it's gap up, and rupee is also opened in +ve
what ever is....i made my day with rupee....and waiting for nifty to minting money....

 

[soft_trader]

Still holding BNF and added another lot to average. I know it's not good to average a loosing position but I think market will go down.

What are your opinion guys???

 

[timepass]

Still holding BNF and added another lot to average. I know it's not good to average a loosing position but I think market will go down.

What are your opinion guys???

The point is "when" ?? No use if it goes down after bankrupting you. So set your stoplosses.

 

[jain.er]

May be you could have bought/sold an option to hedge rather then averaging

 

[ashu1234]

Actually we both are correct.

http://www.londonstockexchange.com/...summary.html?fourWayKey=US7594701077USUSDIOBE

Yes, both ADR and GDR are same. Just the place where it is traded makes a difference.

 

[soft_trader]

The point is "when" ?? No use if it goes down after bankrupting you. So set your stoplosses.

Where to set the SL? My brain cells are not working.

 

[timepass]

May be you could have bought/sold an option to hedge rather then averaging

Where to set the SL? My brain cells are not working.

Good suggestion from jain.er

Maybe buy 11500 call or sell 11500 put.

 

[Niftyman]

whether the gap filling in Indian market happens?

 

[futures]

Alright..40 days over for me in Zerodha challenge - 1 more month to go. 1st month profit was 10.3 percent of base capital and 2nd month profit was 26% of the base capital...peak to valley drawdown of 22%..i did not add or withdraw any money in the last 40 days...i did couple of trading mistakes in the 1st month and 1 mistake in the 2nd month (costed around 8% of my base capital)...so, need to keep this mind in future..As Van tharp says " the errors can put a trader behind by more than what he can imagine"...

Well, please share your p/l percentage as most of us would have completed 2 months...good luck to all for the next month/series..

Happy trading !!

3 months (60 days) challenge over for me and even though i am hesitant to talk about the numbers after completion, just wanna give a closure to this post (i started the revelation of 2nd month numbers..so i better do the 3rd month as well)

made 9%(net profit) 3rd month..so net profit is 45% of base capital .. peak to valley drawdown is still the same 22% .. well, again made 2 mistakes worth 4% this month..i was beating myself up for a day but moved on with it..

this time around, i am not gonna ask other traders to talk about their trading...got unnecessary beatings last time from a fellow forum member..

will enroll in the next challenge in a week...lets have a great quarter ahead and happy trading !!