vanathi

Newbie's Corner!

NSE:BANKNIFTY   NIFTY BANK
330 20 25
One of my regular reader had this query. Usually I dont write about myself. Since it is trading related query, I answered it in a simple way.
Query : I request you to post your daily routine of trading. This will be very helpful for new traders like us.
Answer : After the trading session I note down open, high, low and close value of the scripts I follow from the NSE website, Market is full of surprises. When we have trading plan we can reduce the surprises. I plan my trading for the next session, using the data and the chart. This helps me to overcome random trading. Keeping a journal for data and trading plan helps me to know how many times I modified my trading strategy and what modifications I have made.
Now what scripts shoud be there in your trading terminal? For example if I follow 10 scripts for day trade, and I get trading plan for 5 scripts, then I will be having these 5 scripts only in my trading terminal. This helps to avoid impulsive trading.
If for more than two days, my trades are hitting stoploss, next day I wont trade. I watch the market and do paper trade and check my trading strategy.
The key points to note : 1. Keep journal for data and trading plan 2. Plan your trade before market opening. 3. Arrange your trading terminal as per your trading plan. 4. Dont trade when your mind is not ready for trading.
Great lesson what I follow you. Thank again
Reply
excellent vanAthi, you are followeing and guiding good strategies for our community(traders), usually in my case alslo , whenever SL hits next trading session will be paper and pen method only. and next strategy will be top gainers and top loosers just i will watch for nest two trading sessions to stabilize my self.

thank you,
Reply
vanathi dunde_venu
@dunde_venu, I dont know top gainer/lossers strategy. Stabilising ourselves in trading is important. Thank you for the encouragement. I havent seen you here for some time.
Reply
dunde_venu vanathi
@vanathi, yeah it is very difficulty strategy and suffers with nearly 20% penalty by nse india,
yes, i was i vacation
Reply
vanathi dunde_venu
@dunde_venu, Ok, welcome back to trading :)
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vanathi dunde_venu
@dunde_venu, Few weeks back, i clicked ignore in chat window whoever pinged me that time including you. Because few people disturbed about posting ideas here. Now I dont know how to undo the ignore :( Sorry I dont receive your msg in chat window fully.
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dunde_venu vanathi
@vanathi, then it's ok , we will chat here only

Thank you
Reply
jacktheGREAT dunde_venu
@dunde_venu, 20% penalty by NSE India ??
Reply
dunde_venu jacktheGREAT
@jacktheGREAT, for example only sellers/buyers in a particular script and hit by lower/upper circuit till closing session, nse will collect fine nearly 20% of your order
Reply
vanathi dunde_venu
@dunde_venu, Its a new information to me.
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