Failed Trader Ranjan

    Stop Loss Hit 1)RSI was not at 40 support 2) As per 1:2 Risk Reward our target was Rs.383.50 & stop loss was 353.50. Strategy    Candlestick reversal from 1)Price support 2)RSI Support(Rsi near 40) 3)50 period Simple Moving Average Support 4)200 period SMA < 50 period SMA Time Frame- 1 Hour

 HI FIRIENDS                         In the Financial Year 2020-21 I was doing intraday trading . At the end of year I lost 70% of my capital. Like most of the Trader I was also hurt. Then I started analyzing my ledger. After detailed analysis I found that  Total no of trades-161 No of profitable trades-83 No of losing trades-78 Now the big question arises why & how I lost money. The answer is............ I was trading with 1:1 Risk Reward. My capital is 10,000/- In trade-1 trading amount is 50,000/-(My broker is giving 5X magin limit). Risk taken-1% trade-1 ended in loss- Gross loss 50,000/-*1%=500+65(approx charges). Net loss=565 trade-2 trading amount is 45,000/-( 5 X (10,000/-500)). Risk taken-1% trade-2 ended in profit- Gross profit 45,000/-*1%=450-65(approx charges). Net profit=385 Hence after two trades(1 profit & 1 loss) my capital is 10,000+385-565=9,820/- which means a loss of 1.8% after 2 trades similarly I lost money though my success rate is more than 50% Lesson le

  Stop Loss Hit 1)Perfect entry as per our strategy 2) As per 1:2 Risk Reward our target (Rs.951) was above previous resistance(Rs.940) & the stock failed to go above previous resistance. Strategy    Candlestick reversal from 1)Price support 2)RSI Support(Rsi near 40) 3)50 period Simple Moving Average Support 4)200 period SMA < 50 period SMA Time Frame- 1 Hour

  Stop Loss Hit. Again the repeat of mistake done with VGUARD Entry above 15min Green Candle(3.15 to 3.30)   Target Hit Reentry in Glenmark on the same day above one complete 1hr candle and our target hit in the next day. Failed trader got a winning trade after 3 consecutive losses.  

 Stop Loss Hit 1)Perfect entry as per our strategy 2) As per 1:2 Risk Reward our target (Rs.1715) was above previous resistance(Rs.1700) & the stock failed to go above previous resistance.  

Stop Loss Hit. Learning lesson- 1)RSI was not at 40 support. 2)The Green candle(alert candle) was a 15 min candle(3.15 to 3.30) Hence as per our strategy this is a wrong trade    

 Hi Friends                    I am Biswa Ranjan, a part time stock trader. I use candle stick charts with some indicators to select my trade. I do not have any formal education of stock trading. I am a retail trader and my source of knowledge is Internet. As the name suggests till today I am a failed trader as I made more losses than profit in stock market.                    For the year 2021-22 I planned something different. I will trade with only one strategy for the entire year and will post all my trades in my newly created Blog. You must have heard the quote "If U win U will lead & if U fail U can guide".                     I hope that my failure story will guide some traders. My strategy for 2021-22     Candlestick reversal from 1)Price support 2)RSI Support(Rsi near 40) 3)50 period Simple Moving Average Support 4)200 period SMA < 50 period SMA I will use 1 Hour time frame and all of my trades will be in Cash Market hence only BUY trades. Jay Jagannath Have a