hey why you guys wasting your time in loving day trading
Why dont you explain your concepts or psychology in day - trading.
I really want to know something about day trading.
about day trading:
to start your day trading business you need a computer, internet connection, bank a/c, small amount of capital, a broker, trading software, phone trading facility, phone/mobile & a complete day trading system.
a complete day trading system including entry point, stop loss exit point & profit booking exit point with proper money/risk managemnt. your success rate should be 50% or higher than that.
simple risk management: your risk/reward ratio should be 1:2 or better then that.
simple money management: keep your trading amount same for your each trade.
one can take maximum risk of 1% (including brokarage) on each trade & can book profit above 2.5% from buy price. after deducted the brokarage still you have more than 2% in your pocket.
look at the exaple below:
total trades on january, 07 : 10
trading amount/trade: 1,00,000/-
maximum risk/trade: 1,000/- (1% of 1,00,000/-)
maximum gain/trade: 2,000/- (2% of 1,00,000/-)
losing trade: 5, loss 5,000/-
wining trade: 5, gain 10,000/-
net profit: 5,000/-
so you can earn 5% on every month with these simple statistics.
hope the thread will continue .....