I recently tried my hand at scalping. So not strictly scalping, it was more at an interval of around 20 - 25 minutes. The stock was constantly moving sideways, so I used the entire month's salary. After all charges and deductions, I made ~1,800. Felt way more giddy about it than I should have.
Most of the time work prevents me from even considering intraday this was an exception and I mainly invest for the long term. Was curious what do folks do for short term investment and if there are folks who try their hand at intraday. Please don't suggest liquid funds, they all are garbage. Yet, to come across one which can give returns close to an FD consistently without all the additional risk.
If you do intraday, what are some of the things that have worked for you, and how do you manage to balance it with work?
Traded frequently until I realized that my time's worth more than the money I'll make. Also, the stress of the stock suddenly dipping. Even if it stayed at the same levels, thousands went into brokerage and charges.
Am very amatuer, can tell the one thing that worked for me - Keep CNBC playing live in the background/on a second monitor - they're great (I sometimes think they drive the market through collective decisions? Something like wall street bets but on television/youtube?). Won't work with scalping, but consider not picking more than 2-3 trades a day. Rake kills. (Unless you can avoid it - was wondering which discount broker you use?)
Considering most of the time work prevents you from trading, why do you want to be in stress when you're free? Use the time to unwind?
If it gives you an adrenaline rush, then sure, maybe think of it as a hobby in which you may make money, helps in not stressing over/chasing losses - disastrous for mental health. And if you do lose, just think of it as cost of pursuing a hobby or chasing adrenaline - similar to paying for a service/entertainment.
I make short term investments based on what ET/Moneycontrol suggest through brokerage picks. They're decent enough. Thinking of this as an alternate source of income and not the bread and butter helps in keeping time waste (through over analysis and fear of opportunity) cost under control.
I have infrequently traded since my school days, courtesy my dad's brokerage partnership. Last year markets were an absolute delight. I had a mix of four strategies deployed last year, scalping, positional, momentum and cycle ride. After figuring out things over last year, I realised that my success from least profit to high was - scalping (least profit, high stress), positional (low risk profits) , momentum (fair profit, only weekend analysis required) and cycle/trend riding (low risk most success, fair stress because stock is pumped). The more time you give to your money, the more compounding you will witness. I was also inspired by Weekend Investing strategies i.e. rebalance on weekends and deploy on opening bell and give it time.
Beginning of January, I wanted to have a side hustle that gave me a substantial income. I wanted to achieve 50% of my pay. I focused on two strategies cycle riding (I continue to ride commodity cycle - Graphite, steel, copper) and basically 10 days in I had already reached my targets. I have consistently hit those targets every month now. These returns are incredible, but also fairly risky and once in a decade opportunity, and I would take them with a pinch of salt. You can always learn about Elliot wave theory, breakouts, squeeze, cup and handle, darvax box, etc. to strengthen your conviction in addition to gauging market mood of a company online. As legal is our main bread and butter, I would advice against using momentum for bubble stocks (read Adani), use it only for companies which seem likely to be around ten year down the line and unless the country fails, they will survive and come back strong even with a 50% crash.
This is super helpful. I have just started and don't even understand everything you wrote, but, I am reading up a lot and trying to understand more of the stock market. I have some free time on hand for the past couple of days and the stock market is a delight right now. Is there some stock market simulator where I can try things without investing real money because that would be great?
Most of the time work prevents me from even considering intraday this was an exception and I mainly invest for the long term. Was curious what do folks do for short term investment and if there are folks who try their hand at intraday. Please don't suggest liquid funds, they all are garbage. Yet, to come across one which can give returns close to an FD consistently without all the additional risk.
If you do intraday, what are some of the things that have worked for you, and how do you manage to balance it with work?
PS - I use a discount broker.
Am very amatuer, can tell the one thing that worked for me -
Keep CNBC playing live in the background/on a second monitor - they're great (I sometimes think they drive the market through collective decisions? Something like wall street bets but on television/youtube?). Won't work with scalping, but consider not picking more than 2-3 trades a day. Rake kills. (Unless you can avoid it - was wondering which discount broker you use?)
Considering most of the time work prevents you from trading, why do you want to be in stress when you're free? Use the time to unwind?
If it gives you an adrenaline rush, then sure, maybe think of it as a hobby in which you may make money, helps in not stressing over/chasing losses - disastrous for mental health. And if you do lose, just think of it as cost of pursuing a hobby or chasing adrenaline - similar to paying for a service/entertainment.
I make short term investments based on what ET/Moneycontrol suggest through brokerage picks. They're decent enough. Thinking of this as an alternate source of income and not the bread and butter helps in keeping time waste (through over analysis and fear of opportunity) cost under control.
Beginning of January, I wanted to have a side hustle that gave me a substantial income. I wanted to achieve 50% of my pay. I focused on two strategies cycle riding (I continue to ride commodity cycle - Graphite, steel, copper) and basically 10 days in I had already reached my targets. I have consistently hit those targets every month now. These returns are incredible, but also fairly risky and once in a decade opportunity, and I would take them with a pinch of salt. You can always learn about Elliot wave theory, breakouts, squeeze, cup and handle, darvax box, etc. to strengthen your conviction in addition to gauging market mood of a company online. As legal is our main bread and butter, I would advice against using momentum for bubble stocks (read Adani), use it only for companies which seem likely to be around ten year down the line and unless the country fails, they will survive and come back strong even with a 50% crash.