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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Stock market day trading. Stock market for beginners

Stock market day trading. Stock market for beginners

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Asoka Samarakone


Expert
Expert
Stock market day trading. 
Stock market for beginners 
Short term traders buy a stock which is moving up hoping that it will move up and sell out to them at a later date.
If you can catch just two index points on an average day, you can make a comfortable living as a day Trader. Make several trades each day and have each position closed by the end of the market day. This practice is known as stock market day trading.
Trading is not always easy. They say if it were easy, everyone would be doing it. The truth is that there is as much chance of losing money in the stocks as there is of making money. It remains advisable to ensure you know what you're doing before meddling with the product. Discipline, patience and a willingness to learn is the key - in this game, knowledge is power, and ignorance can be a very expensive state of mind.
Good luck and safe trading 
Asoka Samarakone 

Keshav, RJ1010 and SL-INVESTOR like this post

jaya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
for day trading limit your markup 3% -2.5%

xhunter

xhunter
Moderator
Moderator
If you do this , the BE price shown in the trading platform is incorrect (at least in DirectFN it is incorrect).
so you have to setup a small excel sheets to support the calculation.
ex: if selling price is S and price buying price is B , then profit per share is ((S*0.997)-(B*1.0121))
reason is only broker charge will be calculated for the buying transaction.
Stock market day trading.   Stock market for beginners  Day-tr10

you can see , for the buying transaction , it is 2444/= for selling it is only 687/=

you should always buy shares which are at fair prices (in case you decided to hold the share because your prediction goes wrong within that day but you are sure it can recover within few days).

This below image is a real world example, you should not try this unless you are good in this day trading.
in this case all prices are way too high than its fair prices.
But i was too sure about our crazy inexperience traders who just blindly follow some rally created by HNWIs and youtubers .
In this case exit within day is a must at any cost.
again you should never try.
you can see blue line connected two transactions , it is a loss (but only 2500/=). since it is must to exit within the same day, you should do that even the cost is 10,000/=.

but if you buy shares with fair prices  you have freedom.

Stock market day trading.   Stock market for beginners  Day-tr11

We can make only small amount of money, IMO day trading is only for fun only when you can stay with online trading platform for all 3.5 hours. 

the other thing is you should buy only the amount that can be handled within a day.
it depends on the share and the turnover for that share at the given day.

heroxhere, judecroos, geesura and DamithAsian like this post

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@xhunter wrote:If you do this , the BE price shown in the trading platform is incorrect (at least in DirectFN it is incorrect).
so you have to setup a small excel sheets to support the calculation.
ex: if selling price is S and price buying price is B , then profit per share is ((S*0.997)-(B*1.0121))
reason is only broker charge will be calculated for the buying transaction.
Stock market day trading.   Stock market for beginners  Day-tr10

you can see , for the buying transaction , it is 2444/= for selling it is only 687/=

you should always buy shares which are at fair prices (in case you decided to hold the share because your prediction goes wrong within that day but you are sure it can recover within few days).

This below image is a real world example, you should not try this unless you are good in this day trading.
in this case all prices are way too high than its fair prices.
But i was too sure about our crazy inexperience traders who just blindly follow some rally created by HNWIs and youtubers .
In this case exit within day is a must at any cost.
again you should never try.
you can see blue line connected two transactions , it is a loss (but only 2500/=). since it is must to exit within the same day, you should do that even the cost is 10,000/=.

but if you buy shares with fair prices  you have freedom.

Stock market day trading.   Stock market for beginners  Day-tr11

We can make only small amount of money, IMO day trading is only for fun only when you can stay with online trading platform for all 3.5 hours. 

the other thing is you should buy only the amount that can be handled within a day.
it depends on the share and the turnover for that share at the given day.

@xhunter,

You should directly multiply your buying price from 2.24. that way you get your break even price. Success in day trading lies in the amount of money you pump in for trading. Most day traders open multiple positions at the start of the day with a fairly large capital and close all the positions prior to the daily market closure irrespective of the result of the trades. Aim is to have more profitable trades than loss making ones as daily profit depends on cumulative sum of the trades.

That's why they say day trading is an art that should be performed after thorough practice and experience. Unlike swing traders, Day traders don't care about the direction of the market. They make profits during a bearish market as well as in a bullish one. Smile

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@dayandacool wrote:
@xhunter wrote:If you do this , the BE price shown in the trading platform is incorrect (at least in DirectFN it is incorrect).
so you have to setup a small excel sheets to support the calculation.
ex: if selling price is S and price buying price is B , then profit per share is ((S*0.997)-(B*1.0121))
reason is only broker charge will be calculated for the buying transaction.
Stock market day trading.   Stock market for beginners  Day-tr10

you can see , for the buying transaction , it is 2444/= for selling it is only 687/=

you should always buy shares which are at fair prices (in case you decided to hold the share because your prediction goes wrong within that day but you are sure it can recover within few days).

This below image is a real world example, you should not try this unless you are good in this day trading.
in this case all prices are way too high than its fair prices.
But i was too sure about our crazy inexperience traders who just blindly follow some rally created by HNWIs and youtubers .
In this case exit within day is a must at any cost.
again you should never try.
you can see blue line connected two transactions , it is a loss (but only 2500/=). since it is must to exit within the same day, you should do that even the cost is 10,000/=.

but if you buy shares with fair prices  you have freedom.

Stock market day trading.   Stock market for beginners  Day-tr11

We can make only small amount of money, IMO day trading is only for fun only when you can stay with online trading platform for all 3.5 hours. 

the other thing is you should buy only the amount that can be handled within a day.
it depends on the share and the turnover for that share at the given day.

@xhunter,

You should directly multiply your buying price from 0.0224 then add it to the buying price as a ratio. that way you get your break even price. Success in day trading lies in the amount of money you pump in for trading. Most day traders open multiple positions at the start of the day with a fairly large capital and close all the positions prior to the daily market closure irrespective of the result of the trades. Aim is to have more profitable trades than loss making ones as daily profit depends on cumulative sum of the trades.

That's why they say day trading is an art that should be performed after thorough practice and experience. Unlike swing traders, Day traders don't care about the direction of the market. They make profits during a bearish market as well as in a bullish one. Smile

xhunter

xhunter
Moderator
Moderator
@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.
Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13

dayandacool likes this post

Hope123


Manager - Equity Analytics
Manager - Equity Analytics
Since the "short selling" method is not available in the Colombo market, and people have to wait until the bulls appear to make a buck. If the method can be changed like other markets do, i guess people won't complain a much during bearish market situations. So people would get use to learnt more about technical if either methods are available.

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics
@Hope123 wrote:Since the "short selling" method is not available in the Colombo market, and people have to wait until the bulls appear to make a buck. If the method can be changed like other markets do, i guess people won't complain a much during bearish market situations. So people would get use to learnt more about technical if either methods are available.
If we can short the market, the market will not go down like this too...

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@xhunter wrote:@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.
Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13
@xhunter

Bro, I didn't get what you mentioned. If a trader buy a share @9.00, he will require to sell it @ 9.20 to break even not 9.10. 

That works for all the trades not only for day trade. Above mentioned cost structure is valid for all the transactions involving in share trading unless you come to terms with a crossing. In a crossing, brokerage works differently than that of a normal trade. 

That's just my understanding. Rolling Eyes Rolling Eyes

Nandun


Senior Equity Analytic
Senior Equity Analytic
@dayandacool wrote:
@xhunter wrote:@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13
@xhunter

Bro, I didn't get what you mentioned. If a trader buy a share @9.00, he will require to sell it @ 9.20 to break even not 9.10. 

That works for all the trades not only for day trade. Above mentioned cost structure is valid for all the transactions involving in share trading unless you come to terms with a crossing. In a crossing, brokerage works differently than that of a normal trade. 

That's just my understanding. Rolling Eyes Rolling Eyes
I think xhunter is correct same day 1.0112 is right broker fees and etc calculate for one time in day trading.




but I don't know what will happen if someone do buy sell buy sell ... in one day Laughing Laughing

dayandacool and DamithAsian like this post

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Nandun wrote:
@dayandacool wrote:
@xhunter wrote:@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13
@xhunter

Bro, I didn't get what you mentioned. If a trader buy a share @9.00, he will require to sell it @ 9.20 to break even not 9.10. 

That works for all the trades not only for day trade. Above mentioned cost structure is valid for all the transactions involving in share trading unless you come to terms with a crossing. In a crossing, brokerage works differently than that of a normal trade. 

That's just my understanding. Rolling Eyes Rolling Eyes
I think xhunter is correct same day 1.0112 is right broker fees and etc calculate for one time in day trading.




but I don't know what will happen if someone do buy sell buy sell ... in one day Laughing Laughing

Hmmmmm. I really didn't know until xhunter and you mentioned about this. even though I have done transactions in a day, Hardly checked the cost structure. In my directfn, break even price always calculates as share price + 2.24%. But haven't checked in a day trade how it affects the cost.

xhunter

xhunter
Moderator
Moderator
@Nandun wrote:
@dayandacool wrote:
@xhunter wrote:@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13
@xhunter

Bro, I didn't get what you mentioned. If a trader buy a share @9.00, he will require to sell it @ 9.20 to break even not 9.10. 

That works for all the trades not only for day trade. Above mentioned cost structure is valid for all the transactions involving in share trading unless you come to terms with a crossing. In a crossing, brokerage works differently than that of a normal trade. 

That's just my understanding. Rolling Eyes Rolling Eyes
I think xhunter is correct same day 1.0112 is right broker fees and etc calculate for one time in day trading.




but I don't know what will happen if someone do buy sell buy sell ... in one day Laughing Laughing
two values will be considered (for one counter).
val1 = sum of all purchase (shares count)
val2 = sum of all sales (shares count)

what ever the large value will be taken into account to apply 1.12% , for other side it is 0.3%.


https://www.cse.lk/pages/transaction-costs/transaction-costs.component.html



Last edited by xhunter on Thu Oct 29, 2020 1:54 pm; edited 1 time in total

dayandacool and Mr. X like this post

DamithAsian


Manager - Equity Analytics
Manager - Equity Analytics
Good tropic to learn.
If any forum resource person can explain us about the cost factor in trading its great. Mr. X explained Month end settlement affects very well last day., 😊

xhunter

xhunter
Moderator
Moderator
@DamithAsian wrote:Good tropic to learn.
If any forum resource person can explain us about the cost factor in trading its great. Mr. X explained Month end settlement affects very well last day., 😊
https://www.cse.lk/pages/transaction-costs/transaction-costs.component.html

dayandacool

dayandacool
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@xhunter wrote:
@Nandun wrote:
@dayandacool wrote:
@xhunter wrote:@dayandacool
2.24%  BE price calculation (multiplying by 1.0224 ) is incorrect for day trading.Stock market day trading.   Stock market for beginners  Day-tr12
Then , day traders know that buying something at 9.00 and sell it at 9.10 whould cover the cost almost.

Profit per share = SP*0.997 -  BP*1.0112
so, BEP = BP*1.0142

(BP = buying price, SP = Selling price )

This the bought note for the same related to above sold note.

Stock market day trading.   Stock market for beginners  Day-tr13
@xhunter

Bro, I didn't get what you mentioned. If a trader buy a share @9.00, he will require to sell it @ 9.20 to break even not 9.10. 

That works for all the trades not only for day trade. Above mentioned cost structure is valid for all the transactions involving in share trading unless you come to terms with a crossing. In a crossing, brokerage works differently than that of a normal trade. 

That's just my understanding. Rolling Eyes Rolling Eyes
I think xhunter is correct same day 1.0112 is right broker fees and etc calculate for one time in day trading.




but I don't know what will happen if someone do buy sell buy sell ... in one day Laughing Laughing
two values will be considered (for one counter).
val1 = sum of all purchase (shares count)
val2 = sum of all sales (shares count)

what ever the large value will be taken into account to apply 1.12% , for other side it is 0.3%.


https://www.cse.lk/pages/transaction-costs/transaction-costs.component.html

Well, There it is nicely explain. Just as you said In a day trade transaction fee due to the broker, CSE, CDS and SEC aplly for one side of the transaction, whether a buy or a sell. Very Happy

Mr. X and DamithAsian like this post

xhunter

xhunter
Moderator
Moderator
look at the sold note and bought note i attached.
if number of shares (quantity) is same in purchases and sales,

then it is for buying transaction (for selling transaction it is just 0.3%  )   

that is what i have marked in red circles in attached images.

dayandacool and DamithAsian like this post

DamithAsian


Manager - Equity Analytics
Manager - Equity Analytics
@xhunter wrote:look at the sold note and bought note i attached.
if number of shares (quantity) is same in purchases and sales,

then it is for buying transaction (for selling transaction it is just 0.3%  )   

that is what i have marked in red circles in attached images.


Good clarification.

I know some of new investors think if they sell at purchase price he is safe, and neither profit nor loss. They have forgotten fee and taxes already paid at Buy & sale transactions. It is a cost incurred by him. Meaning that even you sell at purchase price you are a loser though it feels compensation.
I saw someone has posted yesterday one Day Trader ledger. He has lost the game. Fees and taxes cannot be ignored.
What are the views of learnt Investors?

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