Hey guys ,
Hope you guys are doing well . I have finally decided to become a professional full time trader . (age 23) . and Been reading researching and testing alot . and wanted to share my trades here so senior members can find faults and hopefully help "one of their kind" , get better . My dream is to be one of the few extremely skilled traders alive (i can see many of them on this forum , ST sir , Saint sir etc.. )
So below are my rules :
1. my capital is small and my stomach is not strong , so i take positional trades only on nifty . The rest I am basically a scalper . 0.40rs-0.70rs/share , I am happy .
2. I am a scalper/day trader by personality but i donot believe I need to trade everyday . Due to using 8-10times leverage per trade . I generally make 0.75%-2% if a trade goes right and can loose 1%-2% when a trade goes wrong .
3. I am still working on the risk and reward ratio to be honest cause , if i hold my trades 40%(aprox from paper trades) of them could give me around 4% returns per trade , but i am very impatient and fear of a reversal . I need to work on this . anyone have any tips for this ?
4. My approach is to gauge if the market is strong or weak for the day or at that point in time . And trade shares which support that view . (Basic tape reading). Then i use price action to enter and exit when either my stomach says enough or my greed is satisfied .
5. My monthly target is 10% . As many seniors said that this is practicle target and achievable with alot of effort , skill and knowledge .(still dont think i have enough skill and knowledge in me . )
6. Would love if people could comment and guide me in my journey .
So , thats basically my plan . I'll be posting below my trades for the day or positional(if any taken) . would love some criticism cming my way .
Regards,
Fudge
Hope you guys are doing well . I have finally decided to become a professional full time trader . (age 23) . and Been reading researching and testing alot . and wanted to share my trades here so senior members can find faults and hopefully help "one of their kind" , get better . My dream is to be one of the few extremely skilled traders alive (i can see many of them on this forum , ST sir , Saint sir etc.. )
So below are my rules :
1. my capital is small and my stomach is not strong , so i take positional trades only on nifty . The rest I am basically a scalper . 0.40rs-0.70rs/share , I am happy .
2. I am a scalper/day trader by personality but i donot believe I need to trade everyday . Due to using 8-10times leverage per trade . I generally make 0.75%-2% if a trade goes right and can loose 1%-2% when a trade goes wrong .
3. I am still working on the risk and reward ratio to be honest cause , if i hold my trades 40%(aprox from paper trades) of them could give me around 4% returns per trade , but i am very impatient and fear of a reversal . I need to work on this . anyone have any tips for this ?
4. My approach is to gauge if the market is strong or weak for the day or at that point in time . And trade shares which support that view . (Basic tape reading). Then i use price action to enter and exit when either my stomach says enough or my greed is satisfied .
5. My monthly target is 10% . As many seniors said that this is practicle target and achievable with alot of effort , skill and knowledge .(still dont think i have enough skill and knowledge in me . )
6. Would love if people could comment and guide me in my journey .
So , thats basically my plan . I'll be posting below my trades for the day or positional(if any taken) . would love some criticism cming my way .
Regards,
Fudge