My Trading Plan
I would like to start the NIFTY FUTURES trading from next month. Please find below my plan and let me know whether it will work out or not.
Am gonna open account with R.K.Global. its 9Rs. per lot.
I would like to start with low risk low return pattern.
So as my brokerage plan, my breakeven point is 2.15 points.
If i buy Nifty Futures @ say 6000 and sell it @ 6010.
so my profit is 6010-6000=10-2.15(brokergage,breakeven)=7.85*50(1 lot)=Rs.392.
day trading in nifty futures with just 10points target calculation is really reasonable and i could acheive it.(if am good in following the market trend)
if i trade twice a day, my profit would be Rs.392*2=Rs.785 per day. If i trade for 10days in a month i can get a profit of Rs.7850 per month which is more than 20% of returns per month.
I feel that with 10 points target in Nifty futures is a reasonable target.
could some one please guide me whether this plan will work out?
Note: I do not want to do delivery based trading in nifty futures,bcoz anything may happen over night which could result in gap up or gap down opening next morning which will badly affect my capital and put me in loss.
I would like to start the NIFTY FUTURES trading from next month. Please find below my plan and let me know whether it will work out or not.
Am gonna open account with R.K.Global. its 9Rs. per lot.
I would like to start with low risk low return pattern.
So as my brokerage plan, my breakeven point is 2.15 points.
If i buy Nifty Futures @ say 6000 and sell it @ 6010.
so my profit is 6010-6000=10-2.15(brokergage,breakeven)=7.85*50(1 lot)=Rs.392.
day trading in nifty futures with just 10points target calculation is really reasonable and i could acheive it.(if am good in following the market trend)
if i trade twice a day, my profit would be Rs.392*2=Rs.785 per day. If i trade for 10days in a month i can get a profit of Rs.7850 per month which is more than 20% of returns per month.
I feel that with 10 points target in Nifty futures is a reasonable target.
could some one please guide me whether this plan will work out?
Note: I do not want to do delivery based trading in nifty futures,bcoz anything may happen over night which could result in gap up or gap down opening next morning which will badly affect my capital and put me in loss.