Me too Trying to Become CrorePati

[Sunny1]

hi sunny,

if i am in your position,

1) i will switch to cash segment.

2) at 9:50 am, watch the european, us & asian market indices.

At 10:00 am, i will watch nifty, sensex and the bse sector indice performance and try to guess the market trend whether it will be up or down or sideways.

If my guessed trend is sideways, i will only watch the market and analyze my strategies.

3) if the trend is up or down, then only, i will trade by identifying 4 stocks from 2 sectors, such that both the sectors and stocks follow the trend predicted by me.

4) i can get intraday data into ab for the selected stocks through the free software available at the forum.

5) i will trade in nse only in the direction of the predicted trend at the appropriate time based on the technical indicators followed by me setting proper limits to my losses and profits too, if any.

The technical indicators followed by me presently are bollinger bands, rsi and macd. Here, i need to omprove upon my strategy.

You may offer your comments on this strategy.

Thanks for your time and all the best for you.

Murthymsr

thanks for detailed explanation. Can you tell what software you use to feed that data hungry ab.

 

[murthymsr]

thanks for detailed explanation. Can you tell what software you use to feed that data hungry ab.

As I use CANOYAL, I do not use any other live data source/Sw now-a-days.

What I had in mind was the SW by Techdump.
If you can locate another Sw also, you may use that into FCharts, thus getting intra data for more than 2 stocks.

Of course, I have been using QT, with 1 minute delayed NSE quotes and mostly for short term trading and it is OK for that purpose. Only now-a-days, I am trying with Intraday trading after getting CANROYAL.

All the best.

murthymsr

 

[kakadia]

Sunny1,

where are you? post your trades dear.

 

[Sunny1]

Sunny1,

where are you? post your trades dear.

I am Here only Dear. Traded very less in Intraday
Tried My hands on options to understand them and recovered my all the losses in just few trades in options. could have made atleast 50k profit with money management and planning. two times I closed my position early due to fear of time decay in options. well options are risky but great if used with money management and planning and thorough analysis.

current capital remains around 25k i.e., original invested capital

 

[Sunny1]

FRidays trades.

Bought tisco at 500 sold at 496 ( entered too early)
bought again at 494 sold at 501

bought Lanco Infratec at 475 sold at 482

above are approximate entry and exit as I could not remember and my back office do not provide date wise transaction

net profit was 477

suzlon 140call expired worthless was worth of 350.

I will post my earlier option trades done in tisco later

 

[kakadia]

Thanks Sunny1.

Could you tell me if you are still using the same strategy you posted earlier. i.e. 21 EMA and 8 SMA.?
if not please share recent strategies used.

 

[Sunny1]

Thanks Sunny1.

Could you tell me if you are still using the same strategy you posted earlier. i.e. 21 EMA and 8 SMA.?
if not please share recent strategies used.

I could not use it properly as my data streaming software is not working properly.will use it once I get alternative to get data into my amibroker.
using support and resistance for intraday.

 

[Sunny1]

Loss of around 950Rs. today in Lanco infra

Actually initially bot only 50 shares and thought to add position if it moves
in my favour but it slipped not giving time to put stop. even worst, then I started averaging down bot another 100. my average price comes to 489.45.
another mistake I did is did not close my position when it came above 490 thinking it will come to 492 then I will close.

Many times I am not sticking to my own plan and ideas. I should follow it strictly.

 

[Sunny1]

Hi Traders. Help me here. I would have done this long ago. Anyway its never too late. Deciding money management and position sizing. As I will be doing intraday mostly and sometimes options.

Max Risk per trade: 2% of capital
MAx Risk per day : 5% of capital

So position will be sized according to that 2% risk and stop loss.

Will reduce risk per trade to 1% if the first trade is loss.

Anything I have left out ??? plz comment

 

[dipen.legal]

Hi Sunny I have been a silent reader of your posts and I would like to share something from my part. I am not that much into regular trading as one point of time, I have made huge losses while trading options. Prior to that I was actively into Technical Analysis and every other thing related. But what I lacked was money management. So my first suggestion to you should try "Money Management. I follow a simple strategy which I would like to share and ask for comments.

1. Total Capital: 25,000
2. Capital Allotted for Trading: 12,500 & Back Up Capital: 12,500
3. Capital alloted for Equity Trading: 6250 (from 2)
4. Capital allotted for Option Trading: 6250 (from 2)
5. Profits from Equity Trading - Divide into 50:50, then add one portion to the capital allotted for trading and rest to back up
6. Profits from Option Trading - Divide into 50:50, then add one portion to the capital allotted for option trading and rest to back up.
7. In case of lossess (maximum 4-5%), back up capital to be used. Once loss is accrued, the first target becomes to cover the loss and then proceed.
8. If I make profits / lossess beyond my thoughts, I stop trade for a day or two. Do Back testing to regain confidence.

I assume my fellow friends would share their ideas also.

Regards,

Dipen