diary of a day trader

[PGDIMES]

be careful while trading. you are better off betting on a toss of coin than to trade. at least head or tails gives you a 50:50 chance

iff the coin is unbiased...:rofl::rofl::rofl::rofl::rofl:

 

[TraderRavi]

be careful while trading. you are better off betting on a toss of coin than to trade. because the odds are against you. you first have to over come the brokerage part and the stt and then think of making money. at least head or tails gives you a 50:50 chance

Thanks for your advice bhai...but chance yahan bhi 50 : 50 he hai.......upper ya neeche...

 

[vijayakishorebabu]

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[vijayakishorebabu]

Hi Ravi,

I just read your entire thread. First of all i liked your sense of humor and honesty and boldness.

I agree upto some extent, books and video's will not give success to all. It will show your several ways to achieve your goal/aim in the market. Finally you have to choose the best path/style suits to you. But without knowledge of trading it will be like gambling. Even if you win in some months finally you will surrender all the amount to Mr.Market. So, learning is a continuous process. You are learning at the cost of big amounts. Any how you are already swimming in the sea, better to trade at smaller levels.

Best of luck my dear friend. I would like to see your's success in " A Millionnaire's trading diary" ( which may be started by you )

 

[TraderRavi]

Hi vijay, I agree that we have to follow some method...or other..Now I try to trade with bollinger bands method as described by columbus...lets see..as I had not traded NF much...

 

[TraderRavi]

bot NF @ 5932.......should be @ 5922....

bot 150 TATASTEEL @ 663....TARGET 666..SL 660...

SL hit...

 

[TraderRavi]

again bot 150 tatasteel @ 661.6....

sold @ [email protected]...

NF TSL HIT @ 5940..

 

[TraderRavi]

Today three times taken position in NF...but TSL or SL get hit...so +8, -8 , -24.....last trade was in profit of 20 points...but not booked..so paid price..

.


on EQ ledger...


3 trades....-425, +420,+80..last one was one time at + 500..

.but today I was not nimble enough to book profit..why ?. I dont know..

Lesson learnt...book profits... dont wait for bigger profits...

 

[iamaaditya]

Today three times taken position in NF...but TSL or SL get hit...so +8, -8 , -24.....last trade was in profit of 20 points...but not booked..so paid price...


on EQ ledger...


3 trades....-425, +420,+80..last one was one time at + 500...but today I was not nimble enough to book profit..why ?. I dont know..

Lesson learnt...book profits... dont wait for bigger profits...

Dear Ravi, it seems you don't have any exit strategy and your exit seems arbitrary (one time at + 500...but today I was not nimble enough to book profit) . Or is it that you have set target for profit ?

My question is once your profit was 500, and then you saw it come back to 400, what was going in your mind ? (Hey just a while ago it was at 500, why should i take 400 profit, i am sure it will go back to 500 (or even more)).(Still justified). But how will you justify when the profit came to 300 ? Even then did you think that the trade was going back to your 500 profit !!

Trading with such high emotions will not take you anywhere. I strongly suggest you to read "Phantom of Pit" (believe me it will help you change your attitude and emotions related to trading)
you can download the pdf version from :
https://sites.google.com/site/phsknmbooks/home/books

Yes nobody can catch the top for simple reason that Top is the knowledge of hindsight (i.e only once it has come down). Double tops aren't that rare (as you waited for double top, Rs 500 in this case), but again that is the knowledge of hindsight. Best thing is to have a concrete rule (or Strategy) for exit and follow the rule irrespective of profit or loss, if profit is 99 and rule says to exit you will have to exit and can't wait like Sachin to make the century.

 

[TraderRavi]

hey Aditya, you PMed that book to me once in june/july...Actually I had 150 shares of TATASTEEL ...I squared off them 50 each thrice...but last one was too late....Nifty slipped by then..my focus was off today ....otherwise there is no reason why I did not book profit...somedays are like this for no reason...