Thursday, 10 May 2018

Trades on 10052018

I took 3 trades today in the first half of day which are here with all details.

1) CIPLA:  I was watching today red dotted line and a blue trend line closely.  These two levels were acting as good support till today morning.  As a short term momentum trader I was waiting for the prices to break this good support so that I can enter and join the winning party.  It did allow me to enter as planned and get benefit out of it.


2) ONGC: With the oil prices rising, I decided to watch ONGC today and see how it reacts.  I found a good resistance level as marked on the chart.  If prices break this resistance and get accepted above it, it will give good opportunity to go long, this is what I thought.  It did ultimately break out and allow me to enter after confirmation. 


3) NIFTY: It opened at PDC and failed to break PDH.  Once it started getting accepted below PDC/DO, it presented a good setup to create a short trade which moved well.


My Trade Book:  All 3 trades posted here, I was able to take.  It is posted just to motivate you that if you follow a system with edge with strict discipline and keep on working on improvement and further development, you too can make money from day trading. For your kind information, I have allotted a small capital of around 5 lakhs which allows me to trade 5 to 10 lots of Nifty or Bank Nifty and 1 to 3 lots of stock futures.  I follow a strict discipline and on average mostly take 2 to 4 trades in a day in total, keeping myself away from over trading.  All my intraday trades try to capture a move that happens in next one hour.

Lastly, if you want to be a successful in trading, always focus on the process, never on the end result.


3 comments:

  1. URD,

    Congrats for gain and scaling up :)

    I am sure you excel with increased capital. You are one of the great trader i know who follow process religiously.

    I am also experimenting trading stock..not exactly DP but trying to catch initial momentum picks.. currently trading in equity with 10% capital.

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    Replies
    1. Rose

      Thanks. I visit your blog regularly and you also are trading well.

      Stocks are really a fun to trade. Every trader should trade them.
      Morning session is best for momentum trading.

      URD

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