Day Trading A Single Stock

[MSN1979]

I'm based in Delhi, but the internet plays hide and seek in this area sometimes. I have a Jio back up, but its speed varies.

I am from Delhi too. You dont get airtel in your area?

 

[newtrader101]

View attachment 27660
Placed a bracket buy order at 1425.5 and a bracket sell order at 1415. The next levels are 1433.80 and 1406.95 which become target and stop loss , reversed, for each order.
I got interested in Gann levels after Prakaash's thread on Crude with Gann square. However, on the practical side, the triggering of orders is a concern. Because sometimes price can just enter a level, trigger the order entry and then bounce back. We will need to wait for the 5 min bar to close inside that level. He was just backtesting. When it comes to actual trade, its a different story..

A probable solution;

1. Set price alerts for the nearest two Gann levels
2. When price hits one of them, start watching for it to close inside that level on the 5 min (if you are averse to sitting at the desk all the time).
3. If it does, enter in that direction.

Observation: In Gann levels, price should be ideally in between two levels, not too close to either of them. Then if it crosses one level, it is more likely to hit the next level (in the same direction). When price creeps parallel and near to a level, it is rather unpredictable. Let it begin its journey from that level and you have more assured targets. Avoid ranges, that is.

 

[newtrader101]

I am from Delhi too. You dont get airtel in your area?

Thanks I'll check. It wasn't available earlier. Actually only MTNL was available, then it was virtually zero- you wouldn't believe it. While guys in the internet cafes across the road were watching movies on the same provider. So many mysteries .
Then Hathway came along and is much better. But some 5% outage is still there.

 

[MSN1979]

Thanks I'll check. It wasn't available earlier. Actually only MTNL was available, then it was virtually zero- you wouldn't believe it. While guys in the internet cafes across the road were watching movies on the same provider. So many mysteries .
Then Hathway came along and is much better. But some 5% outage is still there.

I was using Hathway earlier but service is too bad. I switched to airtel. this is better

 

[timepass]

I too am in Delhi most of the time. I use Airtel hotspot as primary, have Jio Fi2 as backup. Airtel works fine 99% of the time. It's very affordable at one time Rs. 999 and then Rs. 399 for 3 months.

 

[newtrader101]

Three years back, in my area (North Campus), Airtel 4G (dongle) was just so so. Very strong in some parts.

Now JioFiber Net is coming.
After taking Jio for my mobile, my bills have gone to 1/4 th earlier when it was with Vodafone. Plus unlimited net with better though (not great) signals. Polite customer service. Many other promotions also. Want to try their cable net.
Wish they entered the broking business as well.

 

[newtrader101]

On 210818, Asian Paints closed at 1403.20. Based on this the adjacent Gann levels are as in the figure.
As it opened above the next Gann level, entered long with the next level as target.

Exited and entered short as stochastics turned back.
Short entry: 1398.55 Exit: 1,394.20 @ 3:15. P/L= 4.35
First trade : Buy 1,409.35 Sell 1400.25 P/L= -9.1 Total P/L=-4.75
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[primitivetrader]

On 210818, Asian Paints closed at 1403.20. Based on this the adjacent Gann levels are as in the figure.
As it opened above the next Gann level, entered long with the next level as target.

View attachment 27720

View attachment 27721

View attachment 27724

Exited and entered short as stochastics turned back. Short entry: 1398.55

is the last short as per stochastics is paper trader or real trade?

if its a paper trade thn fine as you may not lose money. BUT your technical analysis logic is flawed. you should have shorted when there was 3 bar pull back couple of bars back.
you lack objectivity dear and you are trapped in vicious circle
i can understand you want to make money fast once you entered a position. but then you need to have a system with momentum as heart of it.
you are putting lots of hard work but your mind is going in several directions. yeh bhi ker loo and woh bhi ker loo to not have losses and all

 

[newtrader101]

is the last short as per stochastics is paper trader or real trade?
if its a paper trade thn fine as you may not lose money. BUT your technical analysis logic is flawed. you should have shorted when there was 3 bar pull back couple of bars back.
you lack objectivity dear and you are trapped in vicious circle
i can understand you want to make money fast once you entered a position. but then you need to have a system with momentum as heart of it.
you are putting lots of hard work but your mind is going in several directions. yeh bhi ker loo and woh bhi ker loo to not have losses and all

It is real trade, but I'm using only 1 unit . Still loss is a loss.

Thanks for the suggestions. They're very helpful.

You must be referring to this pullback, right? That'd need a really nimble and fast hand. Sorry, but I haven't yet started thinking in PA mode. In your view, what'd be the sequence of a trading education? Like:

1. Money management
2. Stop loss and Risk reward
3. Theory (TA,PA etc)
4. Paper trade
5. Actual trade

 

[TraderRavi]

good that you trading only 1 share. its better than paper trading as actual money is involved.