Dear Ravi
I keep 30% of my investment in cash,for buying when the Sensex comes down. I use them for short term trading.
For day trading, I trade either with the existing shares to be sold and bought back or to buy and sell small quantity of midcap ( range 80 to 250 ),after watching the trend for 30 minutes. If I am lucky,I get profit and if not I end up with the shares I bought for day trading which I could not sell . I try and sell them as BNST shares next day. But if the sensex tumbles, I end up having shares, and it eventually causes loss.
I do not mind selling my shares in day trade , even when they give me Rs.2/- per share.. It gives me an average of Rs.`1000/- to Rs.1500. I am not yet very disciplined in my day trading, since I am learning only now. I watch TV and read all news for trading ( most of them go above my head) but when I start trading, it is always different only. But the knowledge helps me in making decisions. I have read in Traderji discussion forum , an advice, which I find very good for me. " Do disciplined trading, following the rules only, even if the trading is a bore. But it will give money".
Ramani