If you are doing Intraday there you should either buy those stocks which are highly volatile or buy those stocks which are following trends.
But it is not about “Buying the Stock, it is about when to buy the stock”
I am doing intraday trading on Titan and PC Chandra Jewellers for this festival pre-Diwali season on some selective dates. I did PC Jewellers today. I will share my experience of it.
Disclaimer: I read this book How to Make Money Trading with Candlestick Charts Book Online in my early trading days; so I am influenced with candlestick factor the most.
One of my trades are – I bought 800 shares @2:42 PM as the share was following the STOCH Indicator very nicely. Though I booked some loss but this trade made my day!
Here is the timeline with Trading Psychology:
2:42 PM – I bought 800 shares @ 492.75
2:53 PM – I thought of selling it as it again touched but I waited for two candlesticks. I read the strategy for waiting on two candlesticks from the book. Also the MACD paced up, so I thought of waiting.
2:58 PM – It was a nice profit going! I was tempted to sell but waited.
2:59 PM – The Doji got backed by a huge green bar. Bought 200 more shares @496.60. But if you have read the book you must wait for another green candlestick.
3:02 PM – STOCH has touched back again from last two minutes. I got greedy anyway and booked profit for 400 shares @500. But I waited for two more candle sticks for the rest.
3:03 PM – Cursed me
3:04 PM – Cursed me; but I took a confirmed selling decision.
3:05 PM – Put a limit order on close of 3:04’s bar. Why? Read the book! Sold 600 shares @ 498.60
End of drama with 5000+ profit. But not worth it.
I think my selling affected the stocks too. It is a low volume stocks. So yes 1k shares affected pretty sure! ha-ha.