Such a nice article...I've lost more than 1 lakh in intraday. The max i've gained on a day is 3500 and I've lost 7K several times. Every time as u said, I end up thinking tat I know more this time(and i've learnt a lesson)...I'm not able to stop intraday...It's an addiction worse than alcohol... Do you know if I can show these losses while calculating Tax??? Pls help.
I went through all the articles of yours.They were very informative.However I have a different view on day trading.It is a bit easy if we keep your 2 enemies away.Greed and fear.Let me give an example. Say I have Rs250000 for a day trade and I want to earn Rs 5000 a day.(it is imp to fix your targets beforehand to avoid the above said enemies) Now the market opens at 0915 am.See the market conditions and decide whether to buy or to short.Also Keep an eye on the Asian markets.Lats say its neither a bullish or bearish day.Pick the top 5 group A gainers.(www.money.rediff.com)lets say DLF is the top gainer with a gain of 4%.By 09:30 to 09:45 the stock corrects from its initial gain to around 2.7 to 3%. initiate a buy here. say you buy for Rs 250000.Most brokers offer margin so you still have money in your account.At some point of day DLF will make a retest of 4%,where you can sell it.Say it drops further to 1.5 to 2 %where you can buy for another 250000.Your buy price will be at around 1.5% lower than the highest level of 4%.A stock tries to retest its higher level around 1030am to 1200am.you can square off at 3.5 % gain of DLF getting a profit of 1%.You get Rs 2500 in the first case ans Rs 5000 in the second case.You can make one more such trade on the top 5 gainers.So you have got the Rs 5000 for the day. Note: Always wait for the stock to correct form its higher level and don't jump into buying. Market becomes volatole at arond 0130Pm and 0230PM.Best of luck. Anish
Can u please advise me on differance in SIP & PMS investment... as a fresh investor which is the best option??? I hv been introduced PMS investment option by ICICI... how is it work???
I think, u actually are in the process of attracting more n more people in the process of investing. the articles are a bit provocative as if anybody can make huge profits in the stock market. i agree that it's true, the only thing is that u make it sound so simple.
It was gre8 article with simple language and clear message - 'LEARN FROM MY EXPERIENCE'. Hope atleast now most of the guys will be think that share market is not all about gambling, but its the investement they make - so be cautious while making investment - thanks dominic for sharing ur experience.
very good article.though i would like to add that one should balance greed with temptation.Be satisfied with marginal profits and be tempted to book but at the same time greed also is an important ingredient in day trading.unfortunately there are no hard and fast rules to be followed in market.every minute and every stock demands new strategy.history cannot be trusted for future strategies even if it is the same stock in similar market.therefore greed+temptation(in the right proportion)=profit
