Trade improvement

I just started the intraday.I started with single quantity.When I have to increase my quantity of trade?
Can we revise stoploss in cover order above our buy price to get maximum advantage??

Don’t do intraday with your mobile, that app is a gimmick and can cause serious injuries to your mental health.

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Yes can modify your stoploss upwards as long as it is below the LTP. If you modify the CO stoploss above the LTP, it will get executed immediately at the best available price.

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Pls elaborate

If you want to master intraday trading you need to have a trading terminal with large screens. I do it with four monitors, a tiny mistake would make me lose thousands of rupees. You need to invest in a high-speed fiber connection with lowest ping, you need to buy a computer with multi-monitor and mutli-threading support. You need to then work on a strategy that gives you a consistent income. You need a system that allows you to trade from the chart or with shortcuts, you need to be able to monitor the orderflow. If you can’t do all of this then don’t even bother with the intraday.

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I think a good connection and trading terminal required but not 4 screen is necessary.I have heard the experts in intraday not me.And I am not having capital much as single monitor.How can I learn??

There are very few experts in India. I recommend that you watch this regarding your trading station.

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All this is recommended for someone who has established himself in the field, making such a big investment upfront for someone who has just started out puts nothing but extra burden on that person to crunch in returns.

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You can’t establish yourself in daytrading without a proper setup…that’s why you don’t see many of them swarming around the internet. By all means continue doing what you like…I suppose everyone has to learn the hardway and experience will show you the way forward.

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Dude you don’t require muliti-monitor setup to earn, even a decent fast pc with a single monitor is enough to earn decent income from the market but everyone has his/her own choices and preferences. You could scale up as you start earning it doesn’t cost much.
Single Dexktop Config :
Mobo : 3500-4500 (MSI/Gigabyte/Asus, You dont’ need gaming & high end)
Processor : 12000 (i3 8th gen, would be good for a few years)
Cooler : 500-800 (Intel’s basic one’s would do)
Ram : 3000 (8Gb)
SSD : 2500 (240Gb WD/Kingston)
PSU : 500-1000 (Basic 450 watt)
Cabinet + Mouse + Keyboard : 2000
Monitor : 8000 (min 1920*1080p 23inch HP or Dell Monitor- please don’t buy a low resolution one)
Total : 33000 Max
Well people tend to spend too much on unnecessary items but you don’t have to do it if you don’t have much. People would spend over 10k alone on mobo or 5-6k on the cabinet but that’s for gamers and enthusiasts, my point being you could setup a decent trading pc for just under 33K. Also most motherboards come with two video outputs so you can also add another monitor and have a dual monitor setup with an extra 8K. (Without additional Graphics card)
If you do want to add extra monitors in future, add a graphics card with 4 video outputs (a GTX 1060 would do) and add more monitors.
If you can’t assemble this basic low cost setup then you could forget day trading, better invest in Mutual fund or be a long term investor. And if you are serious about day-trading then a decent config pc is must because if you cut corners and trade from a dinosaur gen pc with constant lags then god have mercy on you.
Any business requires initial investment and what I have explained above is the most basic investment in your trading. You do not require a leased internet connection, the 4g conneciton on mobile’s are fast enough, just buy a new sim of the carrier which has the best signal in your house and just use it for internet. 300 PM max.

(Personally I use a desktop with i5-3570 processor for trading, dual monitor- assembled a few years earlier and still going strong. I also have a i3-7th gen basic laptop (25K) for worst case scenarios, power outages, travelling, etc etc.)
Edit : Going to setup a high end PC this year with 4-6 monitors. Also please keep the bills as you could show them as expense and write off (not sure exactly) but around 30 or 40% depreciation every year for certain years.

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40 % depreciation

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How much risk can we take in 5000 capital,is it 50 Rs in one trade??

Don’t trade with 5000 with leverage you won’t learn anything. If you are new and want to specifically come to the market to do intraday trades then first read few books and learn the various terminologies price, liquidity, volume etc etc then understand by looking at the the charts in real time for a few weeks at least and then jump into the fray. There’s a lot of euphoria in the beginning and once you get past that and get thoroughly acquitted to the market to the point where a profit/loss has little to no effect on your psychology then… well you can call yourself a trader.
I would suggest you at least get 20000 - 30000 then start trading. Make some rules, check if they work out and stick to them.

Starting with paper trading is good choice, assuming he has done that starting with 5k isn’t bad at all for him. Let him go through emotions of losing/winning through that capital. If we blows it up he won’t be losing too much and if he wins well he should keep himself grounded and increase his capital gradually.

With Zerodha providing 10x plus leverage that 5000 is equivalent of 50k, it’s upto you how much you want to bet on one trade, it can be 1% of 5k maybe 10% it’s all upto you.

If i was you i wont risk more than 1-2% of the capital on one trade and compulsory trail my SL this way i wont blow up my account quickly and will also give me opportunity to trade in more scrips.

Any book with practical applications for intraday if you know?

I didn’t lose 0.5 or 1% as I am not experienced much.Is it fine or can I increase that?

Why 5000 is bad?

1% = 50Rs and this is the amount you loose to brokerage (STT etc etc) for each trade you make irrespective of the amount of profit/loss. And with leverage god forbid if a novice trader blows it up all at one go.

Have you done paper trading? If no then before starting trading with real money do paper trading, test your strategy and come up with SL that suits your risk capability and most importantly your system. Check what type of reward your system gives for say risking 1% of your capital, check whether your SL isn’t close enough that you’re stoped out prematurely.

You need to design your own system, one that best fits for risk capability. If you have strategy first take it through paper trading and then use it with real money.

Rs. 50 brokerage on Zerodha or any other discount broker? :face_with_hand_over_mouth::face_with_hand_over_mouth:

And i agree about leverage, but i was assuming the trader has done paper trading and has developed proper system that won’t blow-up his/her account in just few trades.

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