Namaste - My Learning of Trading in Nifty

[crown]

Squared off my long positions in Siemens, Jpassociate, Sail in no profit no loss.

Squared off my long position in Mphasis in loss of 2%

Reason for squaring off the long.

Even after two days, the expected upside movement was not there.
and Nifty showing some signs of weakness
Do not want to take any chance of keeping the trades in hope
Had there been anything, two days are enough to check the trade.

Will find some other trade

 

[crown]

Today, I learned a very important lesson.

Trading is not only finding a reasonable level to enter long or short in a script; but much more than it. Somewhere in this forum I read that it is more about trade management/money management than analysing a chart for entering long or short. At that time, may be I wasn't able to understand it, but now I know that it is correct. For the past couple of months, I am into finding some kind of system/technique of knowing that which share will increase or decrease. Despite my best efforts, I just can not become capable of knowing the future movement of a stock. Then, I dig into the systems already used by many people. I came across around 50 systems of which people/analyst are saying that they are good; and I also observed that there are people who are making money with those systems.
Somehow, it occurred to me that how come one system is profitable for someone while some other person is taking losses on the same system. Does that mean trading is something more than just knowing the entry and exit points? And, I found that yes, trading is something much more than simply knowing where to enter and exit. And the much more is nothing but trading. Trading itself is much more important/valuable/significant than the entry and exit points. When my trade fail, I still keep it in the hope. And this is not trading. Trading is just trading. You trade because you just trade; not concerned if it is a loss you are trading or it is a profit. The understanding of entering at a good level and exiting reasonably does have its value; but the main value is doing it without any emotional/personal feelings of having profit or loss. Just Trade and focus more on money management.

When this strike, I made a decision of squaring off my long trades, simply because I logically found them weak at present. May be tomorrow they will give profit; but I just not ready to go ahead with hope. I am trying to be in this game with mind. If it is not appearing profitable to me, just exit whether it is a loss or profit. And money management is the most important thing in this game. Fortunately, I have been able to secure more than 99% of my money within past couple of months. Over all, I am in a marginal loss, simply because I was not managing the money appropriately.

But today, I somehow, got to understand that how I can manage the money. That moment was terrifically a boon in disguise to me.

From today onwards, it will just be a trade. No Ego/self respect/confidence/intelligence/technical efficiency; but just a trade. And, somewhere in my sub-conscious, I already know that from now onwards I shall be doing it appropriately.

So dear big brothers, from now on, I will just be trading and sharing my trades over here.

Thanks a Ton to all of you.

 

[crown]

IGL can be shorted in intraday tomorrow

closed at 344.20

 

[crown]

checking...

 

[Subhadip]

Today, I learned a very important lesson.

Trading is not only finding a reasonable level to enter long or short in a script; but much more than it.
yes, trading is something much more than simply knowing where to enter and exit. And the much more is nothing but trading.
Trading itself is much more important/valuable/significant than the entry and exit points.
Trading is just trading. You trade because you just trade; not concerned if it is a loss you are trading or it is a profit.The main value is doing it without any emotional/personal feelings of having profit or loss. Just Trade and focus more on money management.

I am trying to be in this game with mind. If it is not appearing profitable to me, just exit whether it is a loss or profit. And money management is the most important thing in this game. Fortunately, I have been able to secure more than 99% of my money within past couple of months. Over all, I am in a marginal loss, simply because I was not managing the money appropriately.

But today, I somehow, got to understand that how I can manage the money. That moment was terrifically a boon in disguise to me.

From today onwards, it will just be a trade. No Ego/self respect/confidence/intelligence/technical efficiency; but just a trade. And, somewhere in my sub-conscious, I already know that from now onwards I shall be doing it appropriately.

u learned ur trading my dear friend.

 

[crown]

today I will be entering long in

Vakarangee Software
closed at 207.40
High was 213.70

Tourism Finance
close 34.05
High 35.25

 

[crown]

u learned ur trading my dear friend.

Thanks big bro

I will be judging me on 24 Sept, whether I could be able to do what I am saying.

 

[VJAY]

today I will be entering long in

Vakarangee Software
closed at 207.40
High was 213.70

Tourism Finance
close 34.05
High 35.25

Dear crown,
Please share insight for these scrips why you like to enter?

 

[crown]

Dear crown,
Please share insight for these scrips why you like to enter?

Vijay Bhai

I am presently using the following factors to enter long in a script

CCI(14) should be increasing for two days
cci(14) > ref(cci(14, -1) and ref(cci(14, -1) > ref(cci(14, -2)

CCI(6) should be greater than previous cci(6)
cci(6) > ref(cci(6, -1)

close > ref (high, -1)

close > lsma(14)

After filtering the script on the above basis

I check them manually and choose what I find best among them.

Waise, Vijay bhai, it really doesn't matter which system you adopt. Because, I have seen many systems/techniques prevailing in the market on which people are making money. but simply because, I always tried to improve, I get caught in the circle of improving; which can never end. Therefore, I was doing research which will never end. I myself made around 10 systems during the past couple of months, and damm every system was good enough to make money for me. I used CCI techniques which were damm good, the only problem was that they did not allow you to look at the price, which is psychologically difficult for me. I used moving average cross-overs, which was also good, but the results are a bit delayed. I used pivot based break-out with cci, which was also very good, but the profits were somewhat limited. I used higher high - higher low concept, which was also good when combined with cci, but the problem was having a huge stoploss, which made me afraid a lot of times in entering into profitable trades. I used trendline and price pattern technique, which was also good. In short, all the systems which I encountered were good, but I was not ready to accept the fact that no perfect system could be devised and remained involved in improving the system/technique/understanding again and again.
But now, I know that it is simply not possible. What is possible is to jump into the river and try to swim, in stead of reading books for techniques/safety. And when one jumps into the river, he just can not read; he can only apply what he has already learned. So, I have just started applying what I have already learned, in stead of being a cry baby.

There is no system which is perfect. There are flaws/drawbacks/stoploss in every system. It the person who can improve himself by money management.

 

[crown]

Entered long in TFCI (Tourism Finance) at 34.60
Entered Long in Vakarangee Software at 212
Entered long in Mphasis at 647
Entered long in Jindal steel and power at 713.

The decision of entering long in mphasis and jindal steel was taken at the moment on intraday charts.

And, I am also trying to avoid looking and analysing the Nifty and world markets in respect of deciding a trade in individual script. While, they are of importance but even then there are scripts which move up during down market and there are scripts which move down during up market.
analyse only what I trade