even I too had been thinking on these lines,Reliance money or even Religare gives u an option of trading for 50 lacs if you buy a pre-paid card like option, imagine you buy 100 rs stock on a given day for 50 lacs ie you buy 50000 shares of various companies and the worst case scenario, you sell them at 0.10 rs gain.......compute your income less the Rs500.
How Many Of Us Do Full Time Trading??
- Thread starter rohangawale
- Start date
1. In volatile market, shorting at day's low is the worst trade, as prices rebound instantly, taking out the stops. Only when the Indices are showing strong weakness (how can weakness be strong 
) i.e, falling continuously and not going up, then we may short it. No rule is fixed, we have to change accordingly.
2.
a) Entry - Decide where is the safest point (support for the last few minutes, and is it going to my expectations), need chart (minute and tick)
b) Stoploss - a tick or two below the price where the price is rebounding (needs charts)
c) trailing stop - is your entry point+brokerage+taxes = 0.07% 10paise for 100rs. once the price moves above 15 paise, put stop at 10 paise.. and wait for more profit. (this would be momentum trading)
d) Exit: the best possible profit you can get on an average, or you can get in the present index condition. every scrip has different average volatility.. we need to find out using historical data.
3. All objective things come out from subjective mind only! one has to have a pleasing environment around the workspace. Just imagine, you are not feeling good about something, will you be performing better or worse?
take for example a very long journey by your car.. No music, no fun driving the car hundreds of kilometers, hungry, haven't slept well last night and you are on the highway.
No music, you may drive the car but you'll get bored and may start to avoid boring journeys.. (slowly driving becomes boring)
If one does not enjoy ( take delight in ) driving, do you think one can continue that daily?
Hunger will make one irritable and lose patience, and brain may start to loose focus. Fruits are not hard on one's stomach, hence doesn't cause drowsiness and provide proper nourishment.
http://www.lifescript.com/channels/...7_ways_fruit_benefits_a_healthy_lifestyle.asp
sleep deprived man is least alert and loses focus and decision making ability and may do silly mistakes.
Not just trading, we need to have good "HEALTH" (physical and mental/emotional well being), "MINDSET" [rules and attitude] and "Environment" [encouraging, and relaxing] to do anything worthy of having or doing.
My priority is Health then Family then Wealth. unlike others who would sacrifice health and family for Wealth.
Afterall, The only thing in our life which REALLY MATTERS is GOOD HEALTH. What's the use of huge money, fame, women/men (if girls are reading), children.. only a person with GOOD HEALTH can delight the above things, whereas an UNHEALTHY person suffers and finally loses everything.
) i.e, falling continuously and not going up, then we may short it. No rule is fixed, we have to change accordingly.2.
a) Entry - Decide where is the safest point (support for the last few minutes, and is it going to my expectations), need chart (minute and tick)
b) Stoploss - a tick or two below the price where the price is rebounding (needs charts)
c) trailing stop - is your entry point+brokerage+taxes = 0.07% 10paise for 100rs. once the price moves above 15 paise, put stop at 10 paise.. and wait for more profit. (this would be momentum trading)
d) Exit: the best possible profit you can get on an average, or you can get in the present index condition. every scrip has different average volatility.. we need to find out using historical data.
3. All objective things come out from subjective mind only! one has to have a pleasing environment around the workspace. Just imagine, you are not feeling good about something, will you be performing better or worse?
take for example a very long journey by your car.. No music, no fun driving the car hundreds of kilometers, hungry, haven't slept well last night and you are on the highway.
No music, you may drive the car but you'll get bored and may start to avoid boring journeys.. (slowly driving becomes boring)
If one does not enjoy ( take delight in ) driving, do you think one can continue that daily?
Hunger will make one irritable and lose patience, and brain may start to loose focus. Fruits are not hard on one's stomach, hence doesn't cause drowsiness and provide proper nourishment.
http://www.lifescript.com/channels/...7_ways_fruit_benefits_a_healthy_lifestyle.asp
sleep deprived man is least alert and loses focus and decision making ability and may do silly mistakes.
Not just trading, we need to have good "HEALTH" (physical and mental/emotional well being), "MINDSET" [rules and attitude] and "Environment" [encouraging, and relaxing] to do anything worthy of having or doing.
My priority is Health then Family then Wealth. unlike others who would sacrifice health and family for Wealth.
Afterall, The only thing in our life which REALLY MATTERS is GOOD HEALTH. What's the use of huge money, fame, women/men (if girls are reading), children.. only a person with GOOD HEALTH can delight the above things, whereas an UNHEALTHY person suffers and finally loses everything.
I think one of the most important point to consider is the starting capital one has got at the start of his trading career. I think the minimum amount that is required to meet your daily necessities and still have some saving is around 15 - 20 lacs.
I have seen many friends of mine who just want to put 20k into market and start to dream of leaving their jobs and earning their livings from markets only but its near impossible or should I say completely impossible, it infact destroys their 20k also.
Actually I am a live example of such foolish ideas. I am a Dentist by profession and became intrested in stocks some years back and then read books like"How I made my First 2 million - Nicholas Darvas". This man Nicholas claimed to have made 2 million from a meagre sum of 25k in just 5 yrs, and then to say that I was excited to read this would be an understatement , I committed a sum of 5 lacs to trading and as started dreaming of crores and Ferraris but realty did not take long to sink in and by that time my account was already damaged to the extent of 2 lacs, but I suppose I was lucky enough that I started to recognize my mistakes ( how wouldnt I, the ghosts of market kept me awake all night). But getting back my money from market was not that difficult , all that I did was to lay some rules and follow them relegiously.
I think DONTS in this game are more important than DOS and I still keep on adding to these DONTS every now and then.
These are some of the rules I have laid for myself and may help others:-
1. Money Management and position sizing are the only things that have turned my losses into profits. When I look back at some of the trades that I made, they look horrible, but MM kept me in the game
2. Always remember the Time frame that you are trading, if you are trading weeklies dont ever look at daily quotes, they only cause euphoria and hysteria
3. Train myself to hold winners. I have found that it is difficult to get out of loosers but it takes far more effort to hold onto winners or worse to get out when winners are turning to looser
4. Have to be as patient as an eagle and wait for right stock only at the right time to pull a trade. Whenever I have got impatient to get in, I have always lost money .
5. I dont think many will agree with this attitude but I trade in a direction when Monthly, weekly and daily are all trading in same direction.
6. Never count how much money I make, my only goal is to take right trades and follow my rules, when my method is correct money follows itself
7. Last but not the least I always think of maintaining my sanity and dont let markets spoil my social or family life
About trading for living, I have decided to keep my primary profession Dentistry as my source of income and I trade only to get better returns from my savings but I always keep in mind the effort required to get money from Trading and do my hard work
Regards
I have seen many friends of mine who just want to put 20k into market and start to dream of leaving their jobs and earning their livings from markets only but its near impossible or should I say completely impossible, it infact destroys their 20k also.
Actually I am a live example of such foolish ideas. I am a Dentist by profession and became intrested in stocks some years back and then read books like"How I made my First 2 million - Nicholas Darvas". This man Nicholas claimed to have made 2 million from a meagre sum of 25k in just 5 yrs, and then to say that I was excited to read this would be an understatement , I committed a sum of 5 lacs to trading and as started dreaming of crores and Ferraris but realty did not take long to sink in and by that time my account was already damaged to the extent of 2 lacs, but I suppose I was lucky enough that I started to recognize my mistakes ( how wouldnt I, the ghosts of market kept me awake all night). But getting back my money from market was not that difficult , all that I did was to lay some rules and follow them relegiously.
I think DONTS in this game are more important than DOS and I still keep on adding to these DONTS every now and then.
These are some of the rules I have laid for myself and may help others:-
1. Money Management and position sizing are the only things that have turned my losses into profits. When I look back at some of the trades that I made, they look horrible, but MM kept me in the game
2. Always remember the Time frame that you are trading, if you are trading weeklies dont ever look at daily quotes, they only cause euphoria and hysteria
3. Train myself to hold winners. I have found that it is difficult to get out of loosers but it takes far more effort to hold onto winners or worse to get out when winners are turning to looser
4. Have to be as patient as an eagle and wait for right stock only at the right time to pull a trade. Whenever I have got impatient to get in, I have always lost money .
5. I dont think many will agree with this attitude but I trade in a direction when Monthly, weekly and daily are all trading in same direction.
6. Never count how much money I make, my only goal is to take right trades and follow my rules, when my method is correct money follows itself
7. Last but not the least I always think of maintaining my sanity and dont let markets spoil my social or family life
About trading for living, I have decided to keep my primary profession Dentistry as my source of income and I trade only to get better returns from my savings but I always keep in mind the effort required to get money from Trading and do my hard work
Regards
Last edited:
Fast Rizwan, Prabjeeterana.
Thanx For You Valuable Suggestions.
Now A Days Im Doing (learning) Tech Analysis From Metastock Eod Charts. And I Select Stocks Where Price Is Below 75-80, And Where There Is Confirm Buy Signal, I Purchase More Qty Of It And Sell It With A Gap Of 1-2 Rs In One Or Two Days, This Gives Me Profit Of 800-1400 After Brok In 1-2 Days. And As The Stk Price Is Also Not More So There Is Not Much Fluctuation In The Price Even If Mkt Falls.
This Is The Stratergy Im Following Now A Days, But I Want To Learn Swing Trading In Detail, Wats Factors Are Imp, Which Combination Of Mov Avg To Be Used, How Adx, Rsi Be Used Etc Etc.
Pls Guide
Thanx For You Valuable Suggestions.
Now A Days Im Doing (learning) Tech Analysis From Metastock Eod Charts. And I Select Stocks Where Price Is Below 75-80, And Where There Is Confirm Buy Signal, I Purchase More Qty Of It And Sell It With A Gap Of 1-2 Rs In One Or Two Days, This Gives Me Profit Of 800-1400 After Brok In 1-2 Days. And As The Stk Price Is Also Not More So There Is Not Much Fluctuation In The Price Even If Mkt Falls.
This Is The Stratergy Im Following Now A Days, But I Want To Learn Swing Trading In Detail, Wats Factors Are Imp, Which Combination Of Mov Avg To Be Used, How Adx, Rsi Be Used Etc Etc.
Pls Guide
Use the following link, it will enlighten you on all the topics related to trading
http://www.investopedia.com/articles/trading/
http://www.investopedia.com/articles/trading/
Strategy is fine as long as it suits your requirement and you are happy with this. But don't ignore the stoplosses on your position. Otherwise, in one bad trade you will loose out the earning of few days. If your profit targets are short then your stoploss also needs to be tight.
Wish U Happy and Successful Trading.
Wish U Happy and Successful Trading.
most Of The Losses We Incur In The Stock Trading Is Just The Repeatation Of The Previous Mistakes Which We Were Confirmed Of Not Repeating The Same Over Again,
But
What Happens Each Time And Every Time?
If We Have To Do Full Time Trading, Do We Have No Way Out In The Stock Trading But To Take The Very Same Decision Which Were Proved Dangerous Many A Times Before?????
But
What Happens Each Time And Every Time?
If We Have To Do Full Time Trading, Do We Have No Way Out In The Stock Trading But To Take The Very Same Decision Which Were Proved Dangerous Many A Times Before?????
Similar threads
-
-
How to find good companies as there are many publicly listed companies in the Indian stock market?
- Started by Goodwillcommodities
- Replies: 1
-
How many of you are full-time traders?
- Started by ak_85
- Replies: 31
-
How Many Of Us Do Full Time Trading?- Started by rohangawale
- Replies: 221
-
CHow many FullTime/Professional Traders here?
- Started by CreditViolet
- Replies: 104