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.
Comments
shivemf
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Thanks for sharing your plan! very helpful.
soibam
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Great lesson what I follow you. Thank again
dunde_venu
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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,
vanathi
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@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.
dunde_venu
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@vanathi, yeah it is very difficulty strategy and suffers with nearly 20% penalty by nse india,
yes, i was i vacation
@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.
@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