diary of a day trader

[bthakwani]

Ravi, never get attached to our views in trading. If the market is going against us means our view on the market is wrong atleast temporarily. We tend to get attached with our views because we have read some report saying the nifty will hit 5200 soon etc....but the same guys when nifty goes to 6000 will start saying that nifty will go to 6400 now and the new bull market has started .

If we are short and market is going against us, never average, look for a place to get out and reverse in a dip and ride the uptrend...who knows this may be a start of new uptrend.

As a rule never wait for more than 10 -15 min in a loss if the market is going against us....we have to get out and reverse...holding a loosing position is a drain on our psyche and it leads to all kind of stress and trading mistakes.

Smart_trade

baat to zara si hi hai.. par pata nahin kyu follow nahin ho pati.. :annoyed:

 

[rahulji]

guys dont run after all the discount brokers......koi bhi ek pakad lo bas.............rokra market se banega, brokerage se nahi bhai log........:lol:

ravi bai,
sahi advice diya apnae abhi...meane pakadliya bhai...thank u 4 ur timely advice...:thumb:abhi broker kha pichae nahi....market kha pichae...jab thak broker merae pichae nahiayga .....:clap::clap::clap:

 

[hc9001]

abhi broker kha pichae nahi....market kha pichae...jab thak vo merae pichae nahiayga .....:clap::clap::clap:

Rahul ji,

' market se munafa karna sambhav hai.

lekin.....

market ke age jana,
mushkil hi nahi namumkin hai. ' :lol:

 

[rahulji]

Rahul ji,

' market se munafa karna sambhav hai.

lekin.....

market ke age jana,
mushkil hi nahi namumkin hai. ' :lol:

yes u said it r8 but i told market kha pichae,jab thak broker merae pichae nahiayga, market is like DON

 

[toshiaki]

so true ST, .......Will try to follow this advice........I had done so well since last 4-5 weeks , but last 5-6 days were like hell , straight vertical fall , done trading like hypnotized man..........,anyway will try to rebuild again........

Dont let yourself feel down Ravi Bhai, Turning the losses into profit, You have done it once before, now time to do it again. Best of luck..

Every failure has some hidden lessons in it.. This week was also a downside for my capital also. (Upside for Nifty though ). And i decided to stay away from market for Wednesday and Thursday for the same reason, to take time analyse the mistakes...

Lets rock the floor on next week.. :thumb::thumb:
:clap:

 

[rahulji]

Dont let yourself feel down Ravi Bhai, Turning the losses into profit, You have done it once before, now time to do it again. Best of luck..

Every failure has some hidden lessons in it.. This week was also a downside for my capital also. (Upside for Nifty though ). And i decided to stay away from market for Wednesday and Thursday for the same reason, to take time analyse the mistakes...

Lets rock the floor on next week.. :thumb::thumb:
:clap:

Truly inspirational words..... happy to see the unity...thanks to traderji for this awesome forum....

 

[nifty disiplined trading]

Originally Posted by nifty disiplined trading
1- i got sell signal from my system at 5590 ( 5700 put - 140) but due to fast moving market i some how manage to buy 5700 put at 149.
2- put stop loss of 9 points in 5700 put. which did not get triggered. i did not put trailing stoploss enjoyed all rally and exited at 3.27 at 213.
got 14000 k

Hi friend,

I am using zerodha broker, you said about trailing stop loss in one of your threads, can you please guide me how to place a tsl in zerodha trader manually?

appreciate your help.

regards,
Mukunth.

i did't trade with trailing stop. i put fix stop loss for my every trade. though due to fix stoploss sometimes my profit turns into losses. but i am happy with it as sometimes i cash full rally.

 

[Mavala]

Hi friend,

I am using zerodha broker, you said about trailing stop loss in one of your threads, can you please guide me how to place a tsl in zerodha trader manually?

appreciate your help.

regards,
Mukunth.

Mukunth,

You need to use SL-M or SL-L trigger orders as trailing SL. For example, you are long in nifty @ 5700 and nifty moved to 5740. You would like to lock profit and trail @ 5720. Then you need to place SL-M sell order in system with trigger price of 5720.This means as soon as price drops to 5720, your order triggers and send to exchange as sell order at market price.

 

[arcus]

so true ST, .......Will try to follow this advice........I had done so well since last 4-5 weeks , but last 5-6 days were like hell , straight vertical fall , done trading like hypnotized man..........,anyway will try to rebuild again........

Write down what you want to trade and do the opposite of that. You will become profitable. In other words, "go short on yourself"

 

[arcus]

Mukunth,

You need to use SL-M or SL-L trigger orders as trailing SL. For example, you are long in nifty @ 5700 and nifty moved to 5740. You would like to lock profit and trail @ 5720. Then you need to place SL-M sell order in system with trigger price of 5720.This means as soon as price drops to 5720, your order triggers and send to exchange as sell order at market price.

Market orders have to be used with extreme caution. Last year, the sudden freak fall in Nifty (due to Emkay's bad trades) also resulted in a freak fall in the Nifty futures. If a SL-M was executed at the time, the result would have been catastrophic losses.

Its best to place reasonable SL-L orders as a stop loss.