LIVE Trading on this thread

[ryan4ucar]

out 155.20

 

[Ameet148]

I still holding, should I let it go to delivery?Will it go up tomorrow?

 

[ryan4ucar]

i dono i sold at154.2 for loss no possitions

 

[ryan4ucar]

long idea 154.4 lookf to have settled now

 

[ryan4ucar]

out 153.9 to much selling

 

[Ameet148]

out 153.9 to much selling

ya it's a bad IDEA to do anything now.

 

[ryan4ucar]

u got ut or holding?

 

[Vertigo_1985]

Hi ryan,
On what basis you selected idea for trade today? ans what type of movement and trades were you expecting ? there were many other stocks like DLF, yesbank...why you didn't select them ?

Regards

 

[ryan4ucar]

Hi ryan,
On what basis you selected idea for trade today? ans what type of movement and trades were you expecting ? there were many other stocks like DLF, yesbank...why you didn't select them ?

Regards

hi Vertigo I traded about 12 stocks today including yesbank , i shared my idea trades only so that readers can understand my thinking process.

Here was my thinking on idea today

As you can see from pic above it started a uptrend from 142 on 14th there was news about fdi in telecom going to 100% so all anlysts on cnbc as always after the upmove of about 15% tell people telcom is the god of the market. So today i knew there was going to be volatility for sure , volatility is the bread and butter of intrday traders.

So based on cnbc news all the general public will come to buy the stock after its to late and the smart people who bought at 142 will give it all to the public so the plan was intially with the gap up go short for some profit booking and then later maybe it might trend up after the profit booking is over

So i sold at 162 and it went quickly to 159 which was yesterdays resistance so i covered expecting a bounce , it held there for a while so i got long but it wasnt acting well near support so i sold it, i din go short below 159 as i thought i should see some selling below it the if it comes close to 159 from say 158 or 157 as most of the times stocks do after down move then ill short it near 159 but it went down cleanly , i was tried some scalp longs later after steep down moves which din work so got out for a small loss , overall din trade the sock well as i now realise everyone basically panicked below 159 and gave their stock. will trade this setup better next time i see it

 

[hauler]

ya it's a bad IDEA to do anything now.

Are you sure its a good idea doing day trading like this ? What are you trying to achieve - learning daytrading or making money ?
This doesn't seem to be the best way to trade your money.