On 2nd Aug 2016, HCL tech closes at 800 and on 3rd Aug morning(around 8AM) I come to realize that it will move up so I put MKT order at 9AM but it opens at 869 and my order get executed at this price by 9:15AM and then it goes down for the rest of the day so, can any one tell me if there is a way to get profit out of this i.e. buy at “previous close” price and sell today at any price ???
Also please provide your valuable trading tactics for new guy with Rs.50K.
Thanks in advance.
JUST FOR FUN:
Realistically speaking about "valuable trading tactics for new guy" as a daytrader:
1) It takes 3 months to see if the markets will like you or not.
2) If you are smart enough, not to have busted all your capital in the first three months. you can read on
3) It takes 6 months for your subconscious mind to fight, win and stop all those emotional noise that gets between you and the markets.
4) Between 6 - 9 months your equity curve starts to neutralize.
5) Between 9 -12 you get one more dip on your equity curve and then it takes off.
6) After 12 months you get naturalized into the markets.
Now reading your initial question, some things which an experienced daytrader would quickly identify is:
1) As a new guy, bringing in 50K into the market as your first OFFERING, itself was a mistake.
2) Placing a market order at 9AM was a mistake.
3) Trying to cash in on the hcl hype for daytrading was also a mistake.
BUT, we learn from all these silly things one at a time.
Take it slow, will you ?
Brother, if you take my suggestion, please do not enter in market with real money. Instead open virtual account at https://plus.omnesysindia.com/NestPlus/Home/
You get Rs.20 Lacs of Virtual Cash there. (It is same as NSEPathshala)
Watch your strategies in PI, trade virtual in above portal.
Only when you book profit for entire month, consecutive for three months, then only enter in market with real cash.
@portfolioplus911, brother evenif that was fun but was realistic. That was nice.
Thank you for your suggestion.
Please let me know with how much initial capital should I enter into the market ? and what’s wrong with HCL type shares ? and if not HCL type then please suggest which type of share would you suggest to trade with ???
thanks bro for your suggestion.