Hi friends,

Just completed one month doing online day trading....after many beginners mistakes (done every mistake possible..)...now I am switching to range trading.(from 19th march) ...see what happens..

starting capital = 80k

ledger balance = 38k (19th mar)

major loss due to delivery shortage of 340 Educomp shares.

SHORT SELL 340 @ 720.75.

Auction buying 340 @ 755.86.

total loss = 11940.

brokerage = 1225 (sell side @ 0.5%) + 2570 (auction buy @ 1%) = 3775.

other charges = 466 + 478 = 944.

net loss = 16660.
note : no no to delivery shortage ...

booked Loss = 1607

net loss (after brokerage + charges) = 2014.

again made mistakes.

booked loss = 766.

net loss = 1256.

not much mistakes today ...losses are due to stop loss hit...stop loss hit @ 757 when there is no thus point on graph...bad luck...may be just one dip...that was only low point of the day..lower stop loss may have worked because prices were up all the time....

I got a quote for you from the ""Reminiscences of a Stock Operator":

In my opinion, trying to make money fast from the stock market, is the biggest mistake that anyone can make.

In the long-term, trading is an activity that benefits nobody, except the broking community and the taxman.

__________________
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ledger balance is shrinking @ more speed than Himalayan glaciers... I will start RANGE trading from today ..may be small profits but ok....will try to build ledger from small profits...

booked profits = 734.

net profit = 430.

ledger balance = 38 k

missed two beautiful entry points due to power cuts..but no problem...I m learning....

at least some positives..on first day of range trading...

when will I learn technical analysis..? may be 6 months or more..time..with free software...paid software can come later...

actually this auction thing has done me lots of good....16600 is a big loss 20% of my capital...but after they blocked my account for insufficient funds upto that auction day...i reflected upon my biggest losses > 1000 rs. ,..there are 12 of them against big profits only 6.....i found many mistakes are repeated ..no use of stop loss..that alone have saved me 70% of my losses...as a beginner short selling is dangerous..because u r taking position against market unless u know well conditions..i hoped market will come down..but not..i have learnt some lessons ..now taking small profits ..if any of my way..instead of aiming for big profits...and losing in the process..one day i have profits around 1700 within 20 minutes of trading ..but not booked......i thought this is my day... of making bigger...say 4000 - 5000 to cover my earlier losses..but end up with 3000 loss...so greed is not good thing...

I just calculated:

total brokerage (in my 20 trading days up to 19th march) = 13840...it's huge

other charges = 5150

total = 19000

my loss till now = 41500

charges % in total loss = 45%..

45% of my total loss is due to these high charges....

I am earning for them not for myself..that's why stock market kings are only brokers...

A recent survey in US says 70% traders make losses, 18% break even and only 12% make profits.....I want to be in that 30% bracket.. currently I am in those 70%..

I think your diary will provide a good account for all of us trying to make good our losses in intra-day trades.

I lost 36,000 last financial year in intraday trades.

This year I tried to recover some, end result is 9,000 loss.

So, net loss in two years is 45,000.

My whole effort was to be part of that 18%, just to break even, but the more you try, more you are dragged down deep into the pool of 70% losers.

Everyone is trying to survive...money has to go from one pocket to other...so at the end ..some pockets are full and some are empty..but 70 empty..versus 12 full...is very odd...18 remains as they were...it should be 60 : 40 if not 50 : 50......

Traders are not the only group whose pockets are filled by the markets.

A lot of money goes into the pockets of investors, brokers and the taxman.

Brokers and the taxman always have a positive cash flow.

Thus, taken together, investors and traders must be losing money.

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In the long term (10+ years) investors don't lose much money.

Inflation ensures that stock prices move up in the long term.

Stock returns may or may not beat inflation, but stocks do go up in the long-term.

That's why Elliot suggested a 5-up and 3-down pattern for stock cycles.

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Day traders are in the worst situation.

A short-term trader can hold his long positions infinitely.

A day trader has to square-off his position before the market closes.

This time constraint is the biggest factor that makes day trading a dangerous game.

__________________
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Booked Profit : 174 .

net loss will be around 1000 (because of brokerage & charges).

tried hand in Indiabulls Real Estate and IVRCL Infrastructures, but SL hit...
thanks god....Educomp saved me ....otherwise...

educomp details:

SHORT 200 @ 771 ... BUY 200@ 767, 761 at intervals...eventually drooped to 750..booked early..but u can't say/ predict that .....otherwise 4000 profit was there (771 - 750).

.....

My Intraday today :

ACC
==================================
Bought @978
Sell @988

--Call was based on day before ex-date. Expected for Rs 13 rise over previous close of Rs 976.

Net Profit : Rs 317.

I hope and pray that you are not doing this as your sole source of income.

On a different note, I appreciate the honesty of jlo001 to acknowledge the loss, it shows another aspect of trading - incurring LOSS.

I have observed acknowledgment of loss/mistakes only on this forum, which helps me stay grounded and not get carried away and take undue risk.

BOOKED PROFIT = 181

NET LOSS will be around 700 (brokerage + charges)

CAPITAL INVESTED = 80K

LEDGER BALANCE = 36K

3 days in a row just managed to be in plus but in the last two days brokerage dragged me down...again strategy will change from 25th....my RM says "aage baat karni padegi"...about low brokerage...being in a hill station not many options here.

In Kotak freeway account plan...pay 999/- fixed per month and thereafter no brokerage ..are any hidden charges or restrictions?/..any other plans like this with other brokers ?....this will suit me..as i am giving that amount per day....

My Intraday today :

United Phosphorous
==================================

Bought @156.75 Target @161 Stop Loss @152
Sell @155.50

--Sold at day end, without either target hit or stop loss hit.

Net Loss : Rs 300.

Hard to believe you still day trade.

I have completely stopped it for about 2 yrs now..Just needed a few months to realize it's not for me.

Moreover, your name doesn't really suit day trading .

A rose by any name smells the same .

You must be a very bold & rich person. Even after losing 45% still trying to learn without a fear. .

My day trading is more of a learning exercise.I try various combination to see what clicks.

The total losses (including brokerage) are capped at a percentage of post-tax profit in delivery trading.

I do it on occasional days, that too well within limits.

I think the capital loss is 55%, 36K left from 80K.

I was on the same boat once, and depleted my starting capital of 36K in hopes of recovery.

It's always advisable to do paper trading, but very hard to maintain so.

It depends on which forums you look at. There are trading forums and investing forums. For whatever reason, trading has become nearly synonymous with investing these days. (So the name of the forum maybe appear inappropriate or the forum may change focus (due to the interests of the participants) despite the stated intentions .

Anyway, just like InvestorB, all traders have my best wishes mainly because of the liquidity provided by their activity.

jlo001, people have spent years trying to perfect a day trading technique with little success.

In my opinion, over the long term, day trading will lose you money. [Unless you have insider information]

Day trading is glamorous while long term investing is boring. But my sincere advice to you is to stop day-trading for a long long time when you lose your target 100K. Do not be tempted to throw in more money to recover lost money.

My Intraday today :

Engineers India
==================================

Bought @2434
Sell @2500

--Entered as Rs 100 Dividend was due on ex-date - 1 days.
--Sold early, did not want to take chance on highly volatile expiry day

Net Profit : Rs 1247/-

Booked profit - 1190.

again it's educomp.

searching for another scrip like this....will try REC.

can't trade suzlon, unitech...losses only..now deleted these scrips out of my marketwatch window...

the only scrip i can trade is educomp...all the profits gained by this..are wasted by other scrips ..so until i learn Amibroker and TA ...no more scrips.

Should have hold on to profits. Intraday high was Rs 2599.75

This always happens with me on the profit days

Why did you not keep a trailing stop-loss?

Rs 150 profit in one share...goldmine..!

Never try big profits. Small profits add on to become big.

Booked loss = 1743.

Shorted and SL hit by a wild swing..

Booked loss = 1766.

Burnt hands in some fast moving small scrips.

Again my intuition was right, only if I could have taken the bet !!!

Opto Circuits
======================
Sold @222.65
Bought @215.60

Minuscule position, 34 shares ( Actually I shorted my holding in the morning, and bought back in the evening )

Minuscule Net Profit Rs 204/-

Booked loss = 540....

Only up to 11 am.

POWER CUT SAVED ME.:..otherwise ..u all know..

Hi,

Do you need my account number?? So that you don't have to take the pain of losing money on day to day basis . Just kidding.

Enjoy your trading

"Done every mistake possible"? In only a month?!?

If you do consider Day Trading a serious business, how much time do you think any business takes to develop a core competency? 1 month, 6 months, 1 year, 2 years? I think closer to 5 years! At this rate, will you survive for 5 years without wiping out your capital?

I would have believed you if you had said you have been day trading for 5 years and "done every mistake possible"

Is there really any business which can be successfully up and running in 1 month? The only profession I can think about is possibly "the oldest profession in the world" , but you won't be very good at it either!

Agreed.

Knowing that one doesn't know is also important.

BOOKED PROFIT = 1307
done 4 trades in educomp, icicibank, havells, hcl tech...all positive ..so March ended in good note ..see what happens in April...

one good news ..my brokerage reduced from 0.05 intraday & 0.5 delivery to 0.03 & 0.3 (infoline)...read many articles and some books.. .all have the same view...day traders are sinners..many use TA and strategies & tips & other things ...if these things were successful, there were millionaires all around...so everybody is on the same ground..as far as day-trading is concerned....all are doomed....

If you are new, you are bound to make mistakes.

Simple!