Friday, March 03, 2006

About Swing Trading in Stock Markets

There are enough websites in the world, promising people to make money on the day trading, based on the swing. I understand all the web trading companies provide for the margin trading and the recently listed bulls co made 500 crore rupees profit last year only on financing!

When I lost money running my own co. at Coimbatore called Sharon Software Systems ( ) and lost more than 25 lakhs in around 9 months apart from the 100 K USD given by the angel investor, wanted to recover quick buck from stock market, so a good friend who is a freelancing investor advised me on margin trading, which was to buy 5 times the value of stock at 10 AM, and sell at 2 PM the same day (with profit or loss), mostly at loss and lost a lakh. The fun part was, I even got back some of my money given as brokerage (charged for all the stocks bought and sold)....

This is a quick note and humble input.

No comments: