My Picks For Intraday

[murthymsr]

Dear copperdesk,

now everybody is benefitted with information about each other. and knowledge is strength. let us deploy our strenghths positively and move together.

one point i remember to add here is: it is necessary to be helpful to others and it is also equally necessary to appear to be helpful to others. otherwise, the intentions may be misunderstood.

all the best, my friend, please take care of your health.

murthymsr

 

[vvonteru]

Hi Copper

Its nice to see that you have taken it in the right spirit.
It takes all sorts to make the world. It is true for this forum also.
With clear underlying logic things become easy for others to understand.




Now ngm you would have read post by keneth which says that only 5% of day trading makes money rest loose it? My views are personal and need not be taken too personally. I only hope that you are in Minority in day trading.
Basically I don't know what day trading is and how tense it could be.

Best of luck in worst of times
Hope things look up from now on.
Pankaj

Unfortunately, what Pankaj is saying is true. Only few (I am not sure about 5%) can make it. Daytrading is a hard job. It is 100 times harder than EOD trading. But, we can't say it can't be done. Anything can be done. One of my friend only does day trading. He is still not successfull though. 6 months back, he lost lot of money and took sanyas for 6 months from trading. Last wenesday he started again, with renewed energy gained from practicing Yoga.

Day trading is possible. But, U need planning the day before. Have a perspective on the stocks to trade and the direction to trade. For example, in the current condition, isn't it obvious U should short than buy. Look at daily and hourly chart of stocks for better unstanding the direction the stock has more probability to trade. Here is the link from my thread more on day trading.

http://www.traderji.com/equities/5984-i-can-help-you-stock-chart-reading-12.html

In addition to the above information, have a exit strategy (as alway to any plan).
1. Exit Strategy by Loss or Gain
On a loss of 1000 or gain of 3000, U quit trading for the day (Amounts are just example)
2. Exit Strategy by the no. of trades on a day
When the no. of trades is equal to 5 (for example), U quit trading for the day

Why U need exit strategy? Just like a stock, gain or loss goes in curves. It all depends on when U get out, Ur profit or loss is decided. For example, by 12:00 PM in the afternoon, U might be with a gain of Rs5000. If U trade more, what is the possibility of retaining that gain. As U trade more, the gain amount will change. Having a exit strategy will stop U from excessive trading and therefore from losing money. Why? the more U trade, the more energy is need in day trading and more tired U will be. Ur concentration is affected and will effect Ur outcome.

 

[srisara]

health is wealth.
please take care of your health.

Satya

 

[kenneth]

Dear Copperdesk

I am glad that VVonteru himself has shared his knowledge and Methodology on day trading (the secret which he disclosed earlier on "I can help you with stock chart reading" )

To regain and maintain your health visit http://www.divyayoga.com/ and do Pranayama with Swami Ram Dev Ji Maharaj. FREE AT HOME He is on Aastha channel in the morning from 5.30 a.m to 7 a.m and 8.20 to 9.30 in the evening. If you practice for an hour every day you will be healed completely with in 6 months.

Remember Nothing is impossible for the LORD

Ken

 

[copperdesk]

Hello Friends,

It is very heart warming to see you here, showing your concern about my health. I do take care of myself.

@ken, brother i have already booked a birth for myself for august @pitanjali, Haridwar for 21 days.

Thank you All.

PS: I come across a link: http://www.chartschool.com. Which i'm finding very helpful for rookies like me.

CopperDesk.

 

[copperdesk]

Hello to Dear Friends,

Hope u all are in fine shape. If yes then i wish you stay that way. Thats y i request you to read this carefully. As you are reading in other posts by seniors that it might be an another black monday. Well they are right. If not black then a grey monday is almost certain (you don't need to agree with this).

One of the econimic news papers writes:

"Volatility is expected to continue till the expiry of May contracts on Thursday, May 25. The markets are expected to open on a bearish note on Monday since the margin pressure on brokers are yet to be completed. Chartists are now looking at 10,700 - a drop of another 200 points from the current level. If it does note slip from this level, bulls will be back in control. If 10,700 is broken and there is a bounce from that level, use the rally to cut long positions."

(The margin pressure thing is true coz my broker also confirmed that.)

There are many views in the market. But in my point of view it is more likely. FM has commented on FII taxes etc. But it is not enough.

As far as 10,700 is concerned i think it is 10,784 (days low of 22-mar-06) to be more acurate. But this is also a very weak support. I think it should go down to 10,581(days low of 10-mar-06). I have no basis of saying this but looking at 6 months chart (which i'm enclosing here) i came to this conclusion.

My intension is not to spread panic. I'm not a qualified technical or fundamental analyst.

Conclusion: If one can afford then one stay away from market for a day or two. And this my trading plan for monday. Remember easiest way to make money is to stop losing it. And i want to make money. Now comeon show me the money.

Happy Trading.

CopperDesk.

 

[copperdesk]

...:::Shri Ganeshaye Namah.:::...​

Before reading this pls take a look at above post
Hi Friends,

(Posted at 02.18AM. Approx 8 hours before opening bell)

As of my previous post, I'm staying away from market today coz i think it is too volatile at this moment. And I don't want to risk my money. I like to play safe. If i trade today then i have short listed some possible candidates for shorting. My Picks for 22th May 2006 are as follows..

Bhel- LTP/1976.00, T1900-1875 (Target Achived. Days Low-1582.30)
Sterlite Industries- LTP/405, T390-380-355 (Target Achived. Days Low-280)
Tata Motors- LTP/844.80, T805-790 (Target Achived. Days Low-688)

As far as entry price for short selling above mentioned stocks is concerned, then check their hourly chart and short them below the lowest price before 10.25AM. e.g. if BHEL opens at 1990 then goes high upto 2010 and low down to 1980(all before 10.25AM) then short BHEL at 1979. You dont have to short before 10.25AM just pick the price from there. This is just an example. Hope it is clear. I think scalping*** is the strategy for the day.

Note: I'm just trying to share my trading plan with you. If you want to follow this picks then do at your own risk. My picks are based on web based research and analisys. Do your own research before following my trading plan blindly.

Stocks to watch(for long, dont short these): Mahindra Gesco, Varun Shipping, BSEL Infra, Wipro.


Warning:

• My Picks are based on Web based Research and analysis
• Please strictly follow the entry price i recommend. (if using my picks)
• Do not jump at 9.55AM.
• Wait for 10-15 minutes for market to settle.
• Before following these do your own research.
• Put StopLoss at your own comfort level.

Note: I'm also putting my money on these.

Pls Tell Me your experience with it.

Happy Trading.

CopperDesk.

***Scalping means to book profit exactly after a short gain, not staying there to wait for target price.

 

[marcus]

Hi Copper

A good self advertisement. Your picks are good or bad I don't know. But you will create morons who will blindly follow what you give,without reasoning.

As Amit advised , do give reasons and charts either for TA or FA side.

Your knowledge will enrich others and make them independent thinkers.

Thanks
Pankaj

Dear Pankajsir,

Its really really sad to see you talk this way about copper, simply because you've been here longer than us dosen't make us morons and you 'wise'. Its very unfortunate you should be so condescending.

Copper is new to trading .... so what ...... do you feel threatened by his popularity?

Please don't forget although you may know a bit more about trading its only a matter of time and interest for the rest of us. That dosen't necessarily make you smarter than us.

Personally I have not traded on any of coppers calls but I always view them, i enjoy tracking them and try to discover for myself the reasons they succeed (or fail as the case may be)

Let me assure you no one is a "moron" here and we all think twice b4 trading with our hard earned money, we don't blindly follow anyone (I'm sure no one does) be it you or anyone for that matter, we do our own research to the best of our ability and by doing so we do improve our skill slowly and steadily.


I'm just totally outraged by your audacity in calling us "morons" simply coz you've read a few books and had a few successful trades.

Please take the example of Saint or Traderji although they knows heaps not once have they ever looked down upon any of us.

Thanks for your kindness sir.

 

[copperdesk]

Hello Friends,

Everything was in the line of expectation. My thinking was thar it will go down to 10581(refer to my previous post). But it has gone much below that.

All the target achieved but in todays market anyone can predict which stock to short coz everything was going down. So you can say todays picks was not a big deal.

Personally i shorted Sterlite Ind. for two times. Nothing else brought or sold by my part. Ofcourse i bought RPL and ITC (delivary call) for long term perpose. It don't know it is time to invest in long call or not. But i'm expecting 25-30% gain by june/20/2006.

From today i have tweaked certain things here and there, hope you all like that.

Happy Trading.

CopperDesk.

 

[pkjha30]

Dear Pankajsir,

Its really really sad to see you talk this way about copper, simply because you've been here longer than us dosen't make us morons and you 'wise'. Its very unfortunate you should be so condescending.

Copper is new to trading .... so what ...... do you feel threatened by his popularity?

Please don't forget although you may know a bit more about trading its only a matter of time and interest for the rest of us. That dosen't necessarily make you smarter than us.

Personally I have not traded on any of coppers calls but I always view them, i enjoy tracking them and try to discover for myself the reasons they succeed (or fail as the case may be)

Let me assure you no one is a "moron" here and we all think twice b4 trading with our hard earned money, we don't blindly follow anyone (I'm sure no one does) be it you or anyone for that matter, we do our own research to the best of our ability and by doing so we do improve our skill slowly and steadily.


I'm just totally outraged by your audacity in calling us "morons" simply coz you've read a few books and had a few successful trades.

Please take the example of Saint or Traderji although they knows heaps not once have they ever looked down upon any of us.

Thanks for your kindness sir.

Dear marcus

Just because I have been here longer does not make me senior or even an expert in the subject. I am more novice than anybody here as I am not at all initiated in the trading. Will never do either. I was enticed by the open culture and help each and ebery member is rendering to others without expecting anything in return except repesct , comraderie warmth etc.I have never looked down upon anyone. least of all a member of traderji.com.
My concerns are purely general in nature that nobody should be tripped.There are reasons to make a call that should be known to readers who may or may not be an expert in this area. Blindly following tips of the day will be called what .. ...You tell us.

Its good that you are tracking and also you are intelligent learner. ITS YOUR MONEY
Keep it up. Best of luck

Pankaj