Trading with a sting

[Scorpion King]

Boring second session so far. No action in the stocks that I am tracking since past 1 hour..

 

[Scorpion King]

Did 2 trades today, both in profit.

1st Trade - Long on TATASTEEL, Profit = 47 rupees

2nd Trade = Short on DLF, Profit = 46 rupees

Total did 2 trades, with a net profit of 93 rupees.

 

[Scorpion King]

Starting Capital = 20400.00
Current Capital = 20610.00 (rounded)

Today I will be tracking TATAMOTORS, TATASTEEL, DLF and SBIN.

 

[Scorpion King]

Long on TATASTEEL at 358.5, Stop loss = 356.20, Booked 10 shares at 359.8, Holding 20 now.

 

[Scorpion King]

Shorted 30 shares for TATAMOTORS at 407.7, Stop loss = 408.75, Target = 405.5 - 406

 

[Scorpion King]

Shorted 30 shares for TATAMOTORS at 407.7, Stop loss = 408.75, Target = 405.5 - 406

Stop loss hit for TATAMOTORS, Loss of 30 rupees.

 

[Scorpion King]

Closing all positions for the day. Have some other important work to look after

 

[Scorpion King]

Yesterday I had to close my trades in the middle due to some important work. Had loss in TATAMOTORS short trade and marginal gains in TATASTEEL long trade,

Starting Capital = 20400.00
Current Capital = 20540.00

Today will be tracking TATAMOTORS, TATASTEEL, DLF, HINDALCO

 

[Scorpion King]

I ended my first week of trading with a profit of 200.00 on a trading capital of 10,000.00. I had one loosing day on Thursday. On Friday I was long on DLF, But I closed the position too early, by not wanting to miss out the profit earned. But DLF rallied too hard after that and I only watched it making an up move.

Anyway, got a very good taste of trading, and emotions of trading. I had a discussion with my trader friend on my 1st week's experience and how to approach the next week. We talked about the emotion that made me closing my trades early on Friday and how the loss from Thursday affected my trades on friday. It was good to learn about how psychology is playing a big part in a day trader's life.

Have made few changes to trading approach..

Like

> Will take position in multiple of 3 and booking 2 parts at fixed target with letting the 2rd part ride the market's wave or being stopped out with trailing stop loss.

> Will keep maximum 2 positions open at a time.

> IF a trade is not working for a long time, better to get out of it instead of waiting for stoploss to get hit.

Entering in to the 2nd week.

Starting Capital = 20400.00
Current Capital = 20600.00

Today I will be tracking TATAMOTORS, TATASTEEL, DLF, BANKBARODA

 

[Scorpion King]

I did 3 trades today, 1 in loss and 2 in profit.

Shorted TATASTEEL below 1st 5 min bar. Could not book partial profit in time and the entire position went for a stop loss. Lost 102.00 rupees. The shorted again below 9:50 candle as it failed to cross the opening bar's high. This trade went for a profit and trend was little clear as well. Made 65 rupees in the 2nd trade.

Shorted TATAMOTORS below 1st 5 min bar. with a stop loss above 5 min bar high. And BINGO, TATAMOTORS was in a clear down trend today. Shorted at 403.60. Avg buying price was 396.8. Net gain = 202 rupees.

Net 3 trades, 2 in profit and 1 in loss. gain for the day = 165.00 rupees.