Diary of a day trader......

[uasish]

Truly spellbound,sorry i missed this thread.
1) Plz concentrate on 2-3 stocks ONLY.
2) In the tape there will be some Que,if along side you observe 1 min Vol.
3) Reduce your Qty & plz shift to Cash Mkt.
4) Never take any Delivery.
5) Think deeply to zero in at what Price you are going to enter & instantly if it goes against upto what Price you will wait & then Reverse.
6) Remember with photographic memory at what Price the Stock reacted yesterday/ day before yesterday / few Hrs ago.
7) Never quit for a single day ,if necessary reduce the qty to 50 shares,all those so called friends looking over your shoulder & whispering about your trades with Awe are bystanders will instantly forget you after few Hrs,you dont have to prove them anything NOW,they will eventually KNOW you after few yrs.
8) Never leave your Trade open & take a Break (smoking break/ tea break / etc).
9) Never listen to anything TV / Other people's Winning trade / euphoria ,shouts for break outs/ except what Your Scrip's Price & Vol telling you.

I am ready at any time at your service Online in Traderji (a prefixed date) for few Hrs to Trade with you ,selection of your scrips (no need to tell me beforehand rather inform me instantly),just give me 2 mins to read the Tape,Honestly i will use only 1 indicator RSI & vol,
feeling the Old Rush of Blood (just by thinking about this),any of our member of Kolkata of your choice can be at my place to verify that i use Only PIB & 1 indicator + Vol.Honestly i am Open to walk with you side by side & discuss why we took the trade & where we failed.

 

[visagar]

I reproduce here an excerpt from a review of the book : The Hidden Role of Chane in Life and in the Markets by Nassim Nicholas Taleb.

'In dealing with the markets ,delving into the past to get an idea of the future can also be a dangerous exercise. The adage that those who do not learn from history are condemned to repent its mistakes is true enough. But the author argues that it is npt in our nature to learn from history. And in any case , the lessons of hitory may not be very valid after all ,for the possibility of events happening purely by chance or randomness can never be ruled out. But if history has any lesson at all , Taleb writes ,is that things that never happened before do happen and that rare events ,whether natural catastrophes or market crashes or whateve, are always unexpected. As he writes, "If the past does not resemble the past previuos to it , why should our future resemble our current past?". The problem here is that rules change,the battleground changes , even the game itself changes.So by going from plenty of particulars based on past samples to general induction about the future is full of pitfalls. And it is a fallacy to believe that those who claim to be good at predicting the past are good at predicting the future.

In the markets, we take past history as a single homogenous sample and draw conclusions of what the future holds from studying a sample of the past. "Currenies that exhibit the largest historical stability are the most prone to crashes" , says Taleb and cites , as example , the crash of certain southeast Asian currencies, the Russian rouble and the Mexican peso a few years back.

Luck , after all, is just another form of randomness. But as we are not wired to understand probability and randomness, we tend to fit a scenario on to the event, a cause and effect relationship for any event. Basically finding reasons where none really exists.

Being a successful trader whose speciality was analysing risk and applying the rules of probability,the author describes his market philosophy as making "slewed bets, that is I try to benefit from rare events, events that do not tend to repeat often , but when they happen, give a large payoff".


And dear traderji , I am quitting this forum in protest, for unfair treatment in awarding shamelless tag , for I have not done ANYTHING to deserve that . I always been a decent and dignified human being and I am hurt to no end, I quit in protest.

 

[Indianzz]

Truly spellbound,sorry i missed this thread.
1) Plz concentrate on 2-3 stocks ONLY.
2) In the tape there will be some Que,if along side you observe 1 min Vol.
3) Reduce your Qty & plz shift to Cash Mkt.
4) Never take any Delivery.
5) Think deeply to zero in at what Price you are going to enter & instantly if it goes against upto what Price you will wait & then Reverse.
6) Remember with photographic memory at what Price the Stock reacted yesterday/ day before yesterday / few Hrs ago.
7) Never quit for a single day ,if necessary reduce the qty to 50 shares,all those so called friends looking over your shoulder & whispering about your trades with Awe are bystanders will instantly forget you after few Hrs,you dont have to prove them anything NOW,they will eventually KNOW you after few yrs.
8) Never leave your Trade open & take a Break (smoking break/ tea break / etc).
9) Never listen to anything TV / Other people's Winning trade / euphoria ,shouts for break outs/ except what Your Scrip's Price & Vol telling you.

I am ready at any time at your service Online in Traderji (a prefixed date) for few Hrs to Trade with you ,selection of your scrips (no need to tell me beforehand rather inform me instantly),just give me 2 mins to read the Tape,Honestly i will use only 1 indicator RSI & vol,
feeling the Old Rush of Blood (just by thinking about this),any of our member of Kolkata of your choice can be at my place to verify that i use Only PIB & 1 indicator + Vol.Honestly i am Open to walk with you side by side & discuss why we took the trade & where we failed.

4) Never take any Delivery. to your this point, never take a delivery, one will always lose, why, because there exists an equilibrium in value at all times. and even if i am a day trader i am shifting towards being a semi day trader.
that is i trade in volumes only of which i can take delivery.

not that i want to take delivery, it's just asurety that in case i lose more than afford, i can live to trade another day..

coz as i have notices, in a day trading business, markets alwyas move in ways that draws one in like a casino, there will be 20 winning streaks small time! and when you get over confident and take a huge risk, it will fcuk you over! so i have started moving normally, and in last 2 days i'll sya i have bene happy and all my trades are ending in profit....


like i said previosly: if you can choose when to buy and when to sell based on your choice and NOT of externel factors such as finances, time, brokeraeg, wife. you will win! ALWAYS!

Regards

IndianZZ

 

[uasish]

Glad to know you are comfy.

 

[Ponnirathan]

Seems to be a good advice which could be followed - not the way the professionals advice. And VOW, he supported the findings with the data for 3 days. I would like to keep track of your activities. Be a regular boarder.

 

[newbee]

I am ready at any time at your service Online in Traderji (a prefixed date) for few Hrs to Trade with you ,selection of your scrips (no need to tell me beforehand rather inform me instantly),just give me 2 mins to read the Tape,Honestly i will use only 1 indicator RSI & vol,
feeling the Old Rush of Blood (just by thinking about this),any of our member of Kolkata of your choice can be at my place to verify that i use Only PIB & 1 indicator + Vol.Honestly i am Open to walk with you side by side & discuss why we took the trade & where we failed.

Hello uasish sir,

Is the offer open to others also or was it only for Indian?

If it is available to others, i would like to take it up for trading with nifty. Live and online maybe a month from today.

But meanwhile using a chart for any day of your choice if you can just illustrate the buy/sell points for nifty along with reasons that will help me.

Thanks
nb

Trade Journal

 

[Indianzz]

Sir/Madam
I/We have this day done by your order and on your account the following transactions.

Order No Trade No. Trade Time Security Buy/ Sale Qty Gross Rate Per Security Total Brokerage Total Service Tax STT
2081324 7424898 14:46:34 POWER GRID CORP Sale -50 100.95 5045.00 2.50
2078994 6791889 13:37:32 POWER GRID CORP Buy 50 100.80 -5042.50 2.50
1677525 6690477 13:29:25 POWER GRID CORP Sale -50 100.50 5022.50 2.50
1673383 6385241 12:52:05 POWER GRID CORP Buy 50 100.00 -5002.50 2.50
1295409 6259511 12:41:00 POWER GRID CORP Sale -50 97.90 4892.50 2.50
1212436 5912798 12:11:03 POWER GRID CORP Sale -25 97.75 2442.50 1.25
622060 5773291 11:14:56 POWER GRID CORP Sale -25 95.00 2373.75 1.25
1141145 5833108 11:20:33 POWER GRID CORP Buy 25 97.40 -2436.25 1.25
533575 5397860 10:29:46 POWER GRID CORP Sale -25 95.00 2373.75 1.25
489801 5317504 10:22:17 POWER GRID CORP Buy 25 94.60 -2366.25 1.25
605158 5420399 10:31:38 POWER GRID CORP Buy 25 95.00 -2376.25 1.25
1255559 5993821 12:16:16 POWER GRID CORP Buy 50 97.50 -4877.50 2.50
849696 5739444 11:09:21 REL NATURAL RESO LTD Sale -20 79.70 1593.00 1.00
810402 5595115 10:51:27 REL NATURAL RESO LTD Buy 20 79.15 -1584.00 1.00
2276156 7090444 14:11:38 RPL Sale -50 158.75 7933.50 4.00
2132174 6973094 13:59:16 RPL Buy 50 158.10 -7909.00 4.00
1700826 6584759 13:18:20 RPL Sale -50 154.95 7743.50 4.00
1544953 6248464 12:40:11 RPL Sale -50 154.00 7696.00 4.00
1217832 5920304 12:11:22 RPL Buy 10 153.00 -1530.80 0.80
1217832 5920305 12:11:22 RPL Buy 1 153.00 -153.08 0.08
1217832 5920306 12:11:22 RPL Buy 34 153.00 -5204.72 2.72
1229361 5933647 12:12:09 RPL Sale -50 153.50 7671.00 4.00
1253184 6003998 12:17:12 RPL Buy 50 153.10 -7659.00 4.00
1313754 6025010 12:19:08 RPL Sale -50 153.60 7676.00 4.00
1360722 6133227 12:28:29 RPL Buy 50 153.15 -7661.50 4.00
1436383 6144832 12:29:35 RPL Sale -50 153.70 7681.00 4.00
1539915 6234293 12:38:30 RPL Buy 50 153.70 -7689.00 4.00
1217832 5920303 12:11:22 RPL Buy 5 153.00 -765.40 0.40
1559925 6274486 12:42:10 RPL Buy 50 154.90 -7749.00 4.00
1578925 6294284 12:44:08 RPL Sale -50 155.45 7768.50 4.00
1696142 6407269 12:54:38 RPL Buy 50 154.50 -7729.00 4.00
1975274 6679110 13:28:21 RPL Buy 50 156.50 -7829.00 4.00
1986270 6700066 13:30:06 RPL Sale -50 156.95 7843.50 4.00
2100827 6816315 13:39:56 RPL Sale -50 157.50 7871.00 4.00
2020420 6807509 13:39:04 RPL Buy 50 157.05 -7856.50 4.00
1077008 5868793 11:23:14 VOLTAS LTD. Sale -25 162.90 4070.50 2.00
1050682 5752348 11:11:25 VOLTAS LTD. Buy 25 162.50 -4064.50 2.00


Service Tax of Brokerage Rs. 12.42
Transaction Charges Rs. 13.66
Net Amount Rs. 185.67
Security Transaction Tax 24.00


so this is my trade now, notice that i had earned over 350 till evening as evident by my net position, but i had lost over 50% of it due to my brokerage.

and remember the biggest and the only enemy of you in stock market is yourself. your emotions, and most importantly your hope.
At least in my one week expereince, i have learned that i should never expect price of a share to rise or fall in order to make profit , it should be profitable when i BUY not on expectation that it would be profitable IF other's want to pay for it more..
hope i am learning fast and been of some use to all the newbies out there who think that earning is easy! i'll say earning is super easy IF you have money to take delivery! you might learn it the hard way, like i have after LOSING 15000/- in one trade. in last 2 days i have not one trade that has resulted in loss for me.

and btw, does anyone know of a broker that does not charge a brokerage, instead charges like a fixed flat fees for unlimited trades.
i googled it and found one in nasik, but i need one in chandigarh....

Regards

IndianZZ

 

[AmoghG]

Reliance Money...

 

[uasish]

Hello uasish sir,

Is the offer open to others also or was it only for Indian?

If it is available to others, i would like to take it up for trading with nifty. Live and online maybe a month from today.

But meanwhile using a chart for any day of your choice if you can just illustrate the buy/sell points for nifty along with reasons that will help me.

Thanks
nb

Trade Journal

Your open attitude & frankness moved me & incidentally i visualized my initial trading days,i am somehow managing a modest life by trading only since few yrs.
Yes the offer is open to any body as newbie,becoz other than newbie i cant venture,as i am just a learner just half step ahead.
I never trade Nifty Fut for daytrading becoz of 1 simple logic,a 5k stock
to move 10 points give Rs 500.00 (per lot) gross & deducting brokerages & NSE charges etc i would be in loss & to move 20 to 30 points takes more than 30mins rather in 30 mins a Stock futures (unlike Corpn.Bk ,where the Spread is awesome & thin vol) can give me few K in 30mins if it goes in my direction.
Hence i can take few trades in a Day with same fund & same leverage the rotation of actual Sum is more.

 

[newbee]

I never trade Nifty Fut for daytrading becoz of 1 simple logic,a 5k stock
to move 10 points give Rs 500.00 (per lot) gross & deducting brokerages & NSE charges etc i would be in loss & to move 20 to 30 points takes more than 30mins rather in 30 mins a Stock futures (unlike Corpn.Bk ,where the Spread is awesome & thin vol) can give me few K in 30mins if it goes in my direction.

Hence i can take few trades in a Day with same fund & same leverage the rotation of actual Sum is more.

Hello usaish sir,

With the above 2 lines you have shared a lifetime of experience with me, thanks a lot for the same, its etched on my mind for ever.

I have sat thru and listened to hours of monolog from lots of people and at the end of it, all I got was a numb mind and nothing of substance. We see lots of those professor/lecturer types around, long on theory, short on experience. Its refreshing to meet someone who can can express things of substance so succinctly.

If you find time plz leave a comment on the trading journal I have started here at traderji. I would appreciate your guidance.

Trade Journal

Thanks
nb