i love day trading

[NAVEEVIa]

Ok i will start reading it now
Thnx
Naveen

 

[CreditViolet]

U r right
After looking at charts of my trades i cant make head or tail
but for e.g
take Hindzinc
a nice uptrend
at 1:04 i enter at 660, the previous reastion was at 655 so i put SL at 655
not it breaches that & the uptrend resumes
Specifically i want to capture even 1/2 of the moves like this
Satyam from 10.35 to 12.10 & again from 12.10 to 1.46
these moves were perfect trends
Naveen
PS: plz accept my ignorance, i am a novice

I have sent you a PM

 

[biyas10]

Thnx ratn & Kurian for ur kind comments
I am 26 yrs old
Well my stretegy is like this
1. Find 100 most active stocks
2. Look for those which have become unusually active
3. Find trending one
4. enter with sl of 0.5%
5. For profit i trail my stoploss
The biggest problem is my stops get hit 9 out of 10 times
i know my psychological side is worst for a trader
But if i want to accomplish anything in life its this. to daytrade successfully
U ppl may laugh at this but my daily return target is 10% thats why i use such a high leverage
But yeah on the homework side i am nil
Thnx
Naveen

HI NAVEE,

I THINK AS A NOVICE TRADER YOU ARE DOING QUITE WELL, BECAUSE YOU ARE ALWAYS USING A 0.5% STOPLOSS. THATS THE MOST IMPORTANT POINTS YOU ARE FOLLOWING REGULARLY. I APPRECIATE YOUR MENTAL STRENTH. YOUR STOPS ARE GETTING HIT 9 TIMES OUT OF 10 TRADES, STILL YOU ARE USING MENTIONED STOPLOSS LEVELS. THATS A GREAT THING TO BE A SUCCESSFULL TRADER. THE PROBLEM WITH YOU THAT YOU ARE DOING TOO MUCH TRADES IN A DAY & TRY TO FIND A PIN POINT ENTRY POINT FOR YOUR TRADES.

 

[CreditViolet]

TRY TO FIND A PIN POINT ENTRY POINT FOR YOUR TRADES.

How to pin point it sir? Could you elaborate

 

[biyas10]

How to pin point it sir? Could you elaborate

IT SHOULD BE A BREAKOUT ENTRY, LIKE TODAYS HIGH BREAKOUT, PREVIOUS DAYS HIGH BREAKOUT, PREVIOUS WEEKS HIGH BREAKOUT ETC.

 

[dudesanchit]

hai biyas
i love day trading whn i make moneyy..
kurian

ya actually its fun doing the intraday......and its gr8 if u make money at the end of the day

 

[CreditViolet]

IT SHOULD BE A BREAKOUT ENTRY, LIKE TODAYS HIGH BREAKOUT, PREVIOUS DAYS HIGH BREAKOUT, PREVIOUS WEEKS HIGH BREAKOUT ETC.

Thats fine, but how do you go with the breakouts ( pin point entries) because a breakout is always after the fact event.
Where do you buy/sell, SL etc ( pin point)

 

[biyas10]

Thats fine, but how do you go with the breakouts ( pin point entries) because a breakout is always after the fact event.
Where do you buy/sell, SL etc ( pin point)

place a limit order before the breakout happen. look at my strategy.

i find breakout points after closing bell.
on the next day i place a limit order above the breakout level.
after breakout i just place a sl order below 0.50% from my buy price.
if it hit sl then my loss is around 0.80% (including brokarage).
basically i dont book profit at a particular target level.
i close my position at 3:15 pm.

 

[CreditViolet]

place a limit order before the breakout happen. look at my strategy.

i find breakout points after closing bell.
on the next day i place a limit order above the breakout level.
after breakout i just place a sl order below 0.50% from my buy price.
if it hit sl then my loss is around 0.80% (including brokarage).
basically i dont book profit at a particular target level.
i close my position at 3:15 pm.

Ok, close enough

Would be good if you can classify the breakouts and levels.

 

[biyas10]

Ok, close enough

Would be good if you can classify the breakouts and levels.

yes cv, the main point is to identify a particular breakout/down level.