अगर Stock Market में Successful होना है तो ये daily करो। #Learn2Trade Session 24
Welcome to the 24th session of learn to trade series I am Vivek Bajaj and I am in the market for some time now I am enjoying recording this learn to trade series. I am sure if your learning then you must also be enjoying as Annapurna is enjoying it a lot. Yes sir. I have taught you so much for free. I am enjoying a lot you learnt everything for free without paying anything we have completed 23 sessions and I have taught you almost everything to become a trader there will be more complications. We haven't yet discussed options and learnt derivatives in deep but these 23 sessions and this one is for your base building. Try to watch it again if you haven't watched previous videos then you are missing out on a lot. Start watching it watch all the videos and show it to young people are the first timers I have decoded very complex topics very simply so that you are able to start your trading journey we have learnt all the techniques but there are some complications when we implement these techniques technique is like a revolver. I have given you the revolver, now all you need to do is use the revolver to shoot
but it's not easy to shoot. There are some complications to it as well and it's important post mortem of whether the target was hit or not We have only covered 20 to 25% till now. 70% to 75% is postmortem. What went right or wrong pat on the back if you did good, analysing and correcting if you did wrong motivate yourself. It's easy to learn the hard aspect of the market
a lot of my friends are teaching these hard aspects on YouTube so you can learn from anyone we have created so many models in Elearnmarkets, so you can learn from there as well but the difference lies in the soft aspect. I will teach you those soft aspects as well but today I will teach you how to do a postmortem. There's a concept in the trader's life specially when he's starting out, it's called a trade journal Do you write a journal or a diary? Yes sir. Every night? Yes, I write down my thoughts you write down whatever is in your mind as the diary will know you much better than any other person your trade journal should be a reflection of your thought and should tell you at one point of time you are going wrong it will tell you your mistakes. Just like a diary gives you insights, similarly trade journal should be such a strong instrument in your life where you can learn more about yourself like introspection. let's move on to how do we create a trade journal
Let's create an excel sheet. it will be best if we create it in a Google sheet. Let's create a Google sheet Let's name it my trade journal. You trade in a brokers terminal and you get the confirmation by the broker you can see the trades at the brokers terminal at the end of the day. You will get all the details of your trades at the brokers back office where you can login my advice would be to mention all your trade details in your trade journal we will discuss the items in the trade journal and I will share the sheet with you so that you can create a similar one for yourself I will shared sheet with us as well so that you can create a similar trade journal for yourself I will zoom in the view. Date will be on the first column, second would be whether the trade is open or close I will tell you the relevance. Third name of the script which you have traded. Fourth would be whether you bought or sold
what was the quantity, at what price, what is its value. The total price which we will get through the formula we will get the value by multiplying quantity with price. This is when you initiate a trade then we will see when you square off the trade, whether you bought or sold, the price of squaring off whether you incurred a profit or loss. This is the basic information. Suppose today it's 23rd April 2021
let's pick up any trade, suppose you bought Tata Elxsi at 2550, or you bought at the Breakout level On 5th April at 2830. I will record that you bought on 5th April 2021, your trade is open if it's open market as one and market as 0 if it’s closed. Scrip's name is Tata Elxsi write down the exact name of the scrip TATAELXSI. You bought it so just just write B
quantity would be as per the stop loss calculation. But let's assume that you bought 10000 worth of shares The price is 2820, you bought at 2820, the quantity will be 10000 divided by price, so its 3.5 let's assume that you have bought 4 shares, the value will be quantity X price, you've bought shares worth 11280 This is your current position. There will be another column logic, comment, Karma Will we not add stop loss? Yes, we will. You might want to add the stop loss price. Add it here so stop loss and take profit. I generally added in the chart that's why I don't add it in the Excel
but you can add it since you are starting. If you're entering in this candle, then this candle's low will be stop loss which is 2755. You've put a stop loss at 2755 at the price of 2820, should I take profit should be at least 1:2 which is price minus stop loss into two plus the price you entered. This should be your take profit zone, 2950 if I have considered the stop loss as 1:2 then I will take the profit at 2950.
but what if the super trend is not asking me to sell? Then you will sell. if the supertrend asked you to sell then write it down in the square of that you sold because of super Trend that's the comment that I have added. Logic of trade is breakout from previous high I have told myself that I entered because it broke from its previous high as I want to remember it later do not overestimate your memory. you need to record details for a later reference
comment will be the additional thought that you had after making the trade You can write exited because the supertrend became negative as a comment you can added as a comment after you have squared it up what is karma? Karma is when I assess my learnings after my trades Karma is are you satisfied, if yes then it will be added to your karma let's keep minus and plus one -1 will be when you are not satisfied with your trade, you haven't followed the rules you made plus one will be new follow the rules that you made for yourself. Every trade after squaring up there won't be a Karma when you are just initiating the trade, every trade should have a Karma measure the Karma every end of the month and evaluate your points you feel good when you get points after shopping, and these guys know that point system is very exciting you go to Flipkart or Amazon, you get points as it creates excitement so why aren't you exciting yourself? the more you are able to excite yourself the better you will perform in the market. Suppose we squared off the stock today today the price is 3200, no but we square it up when it reached our target price. we entered on 5th and it reached my target of 2950 on 7th April, so the square of date will be 7th April 2021 I square it off at 2950, how will I calculate my profit or loss? I need to reduce it but if I've bought then the calculation will be different then when you sell it. But you are not selling it now you will participate by buying as you are working in the cash market and I have not taught you how to sell in the derivatives what will be the formula? it should be something like, if buy or sell is equals to B, that means you've bought then the formula should be squaring off price minus buying price x quantity, you've earned 520 seems like a small amount, but you only invested 11000 how much return do you expect? let's add percentage gains, so that you can see it in percentage terms, profit and loss divided by total value is the percentage. 4.6% in 3 days, how much returns do you expect? if you put in a small amount then you will get back a small amount you will only get bigger amount add in a larger capital. This is good money in terms of percentage
do you feel better now? Yes. Would you like to add a comment? No it has worked according to you. How much Karma will you give yourself? plus one as you have worked as per the discipline. I have question.
we are booking the profit at 2950 but the super trend is not asking me to sell so why should I sell? go back to the video where we have talked about stop loss and risk management as per my model you will book half the profit at 1 is to 2 and let the other lead with supertrend you have a valid point that you will only book half the profit and not the entire so let's book half, but how do we book half the profit? I have a solution to this just copy the entire row and paste it and change the 4 to 2. You've sold the first 2, but the other two is still open so my take profit will change. Yes, of course. we will change it when we get the profit the amount will get removed as we are selling as per the super Trend stop loss can be same, or you might want to trail the stop loss, you can consider the cost as the stop loss cost was 2820, should stop loss can also be 2820, and the super trend will tell you the take profit you will mention the date square it up. If I have squared up as per the super Trend and kept my take profit the same
and maintained my discipline, then what will be my karma? I get one more. not now as the position is still intact. Whenever your making a trade and dividing it by 2 just insert a row and add it. if you want to see your mark to market profit loss then Google finance gives you the power to call the latest price of each stock here There's a 15 minute delay but it's Ok with us as we are not active traders. Do you want to see how can it be done?
if you want to get the latest price here. This price is the square up price. the price is fixed when I am squaring it up, but if I want the latest price here, then you write Google Finance. It's a Google's service, which gives the stock prices and is embedded in the Google sheet bracket, stock's name. The stocks name should be exactly like the one exchange uses. The symbol
you will get the symbol in the broker's terminal. Then you add coma and price. let's freeze it so that the price becomes frozen. The column gets frozen if we add F4 we get the price here. Google has pulled up the price. Google provide you the power to get the stock price in the sheet laser 15 minute lag so it's ok for people who are investing, traders need to use the Excel at the brokers terminal but you don't do tick by tick trading so this is good for you. Let's come back to this we have square up this trade, so let's make it 0. This where you have an account maintained of your open trades
1 means the trade is open and zero means a closed trade. You can I add conditional formatting to it click on format, conditional formatting. If the value in the range is equal to 1, the position is open, then highlight it so you will know all your open positions. These are small things, but if you follow it in a disciplined way you will form a good repository and it will help you to evaluate your workings it's like a report card. Generally people log in to their brokers terminal to see the profits. Profits are not important. the final result in the school just shows you have passed and been promoted
till you check each subject's score and your conduct how will you get to know whether you're progressing or not this is like a report card for the market. I might buy shares of other companies as well and if I want to check the net of each company. Suppose my stop loss was hit stop loss is 2820 so we will square it off at 2820. Suppose it hit the stop loss on 15th April
stop loss will be 2820 and the profit and loss will be zero as it was a trailing stop loss let's change to origin relation logic. Why did you originate the trade? you don't need to add a comment. What will be the Karma? 0? Why? but your deed was good. But there was no profit. just because you did not include profit does not mean that you had a bad karma
that way it means that the person who is not earning enough is doing bad deeds Karma is when you work as per your discipline. Your profit and loss does not define your karma Karma is when you want to be disciplined and accountable to yourself. That's why karma will be 1 you work as per the discipline. Suppose you didn't put the stop loss at 2820 and changed the stop loss to 2800 you were wrong that's why you incurred a loss. Then reduce a Karma as you should have kept it at 2820 you will get more confidence as you add more stocks to it. how many times are you right or wrong and if your karma is positive every month. Profit and losses not important initially.
initially the profit and losses not important so please do not De motivate yourself if you incur a loss it's important to implement your learning month on month, be disciplined and make your karma positive if you keep making your karma positive for the next 3 to 5 months, will automatically get more confident suppose we added one more trade. Let's take an example of Hindustan Unilever. suppose we were very positive about it last time, so we entered here and stop loss was hit we entered the stock on 9th April at 2450. We open with trade on 9th April. HINDUNILVR the name should be exact as Google Finance needs it. We bought it at the price 2450
the quantity bought at 2450. Let's assume that we put in 10000 rupees, so we bought 4 shares the value was 9800 and we have decided that the candle's low will be my stop loss. This candle's low is 2424. My stop loss was 2424, and take profit as per 1:2 would be 2502 let's see if it went up to 2502, we bought it here and the high was 2488, and the high here here the high was 2506. So we incurred a profit and booked half of it. When did we book half? on 13th April. this trade is still open. We have book half the profit on 13th April at 2502
we will just copy paste it now and change it to 2. We booked 2 shares at 2502, let's mark the profit and loss So we get 104 and we have earned 2% on it. the logic was the same that we considered the Breakout from previous high how much Karma will you give now? 1. The stop loss will now become a trailing stop loss the entered price will now become the trailing stop loss at 2405. Let's see when was my trailing stop loss
the buying price was hit. The buying price was hit on 15th April. So I squared up at 2450, my buying price my profit is zero, so the Karma will be one. If I bought Tata Elxsi on 7th and 10th April. Let me make it 0 as the trade has been squared up. Tata Elxsi trade is open, now tell me
I bought on 7th April and then again on 13th April. Keep adding a new entry here you might buy fifty shares cumulatively of Tata Elxsi, but you need to add unique entry every time you trade you open each trade for a reason, that reason will be unique. Each scrip's net? I will add all my trades here. you will not get each scrip's net position here, you can get it at the brokers terminal when you are changing it to one, if you sum it up you will get the net. Eventually you will create a different sheet for each stock if your trading a lot in it keep adding it in one sheet right now, as you do not need to check Karma as per sheet, you need to check the overall Karma I want you to do this for at least 6 months as it's more of a discipline and temperament builder inside you you will only learn by doing it. I have not yet made any medicine to build temperament for you till your able to analyse your mistakes. Each mistake is like a dead body, till you are able to analyse it
till your not able to Pat your back for good Karma and punish yourself for a bad Karma how will you understand whether you are doing right or not? what if my karma is in negative in the end? watch learn2trade again, there's some problem. Start from session 1 again. you haven't learnt right or maybe I haven't taught right. You can find another Guru who can explain you better your karma can't be consistently negative. If you are not able to be disciplined, then there's some problem with you within then maybe you need Sadhguru. I found him in 2013 when I needed him and I'm with him since then he is right behind me. You need to find another teacher who can make you focus, stay in positivity
and keep you disciplined. Discipline is the most important things in any occupation. even this is an Occupation so you need to be disciplined. Karma is not about profit or loss Karma is whether you are following your own path decided by you, whether you are walking the talk whether I am following my plan of action or not. So if I am not following my plan of action then I need to go inside my trade and analyse what mistakes have I made. if you are in loss continuously then there are two aspects to it your technique is problematic then you need to revisit the scores or a faculty maybe I wasn't able to teach you properly, someone else can explain it better the second is that you are right here but there's some problem with the execution you are not able to maintain the discipline, not setting a stop loss, or missing the stop loss you are not booking the profit, or booking the profit too soon, or keep trailing the stop loss these problems will be solved by Karma. I have another question
you said that each stock has its own path and you need to understand each movement I may have to change my strategy as per the stock. Should I add column of trading strategy to it? added in the origination logic. You can name the trading strategies, Krishna or Vibhishan strategy just add the name here, so that you know the Krishna strategy asked you to take the trade I traded this because Dronacharya told you to do so. Name your strategies we have given names to strategies in StockEdge. If you go to the strategy section in stockedge go to strategies in stockedge, where we have named each strategy, Bheema, Yudhishthir Dhanush you can also name your strategies, and add it here. So I have a clear idea that maybe this strategy did not work
so I might need to revisit the strategy again. It is always advisable for a trader to revisit this strategy but you can only do it if you have a historical track of those strategies and times it worked this was a way to make your trade journal and track your discipline. This is a very important video share it with your friends, this thought process will not be shared by a lot of people. I will share the link of the Excel sheet with you, if you want to build more on it I have just created a raw right now. I use my own where I have added more you can also improve eyes and try to make it better and use this and take advantage share the series with your friends and subscribe to my channel if you haven't already share it with your friends. Thank you. Bye.