1 Lac per month

[SaravananKS]

My suggestion : Trade Crude for just 15 points gross per day! This should give you around approx 12 points net per day after expenses and slippage! (Slippage can be big at times which please keep in mind)! Now with a lot size of 100 and no. of trading days being 20 in a month , this translates to :
12X100X20=24000/- This is paper calculation hence expect the actual results to be lower as there shall be loosing or less profitable days, and even if you can manage to get 50% of this , that comes to 12000/- per month ! Not bad return on 50000/- !
I suggested Crude Oil because a friend of mine trades Crude for just 10 points Net every day and he has been consistently doing it for last 17 months with not a single week going in loss ! He started in July last year with trading a single lot for first 6 months, till dec 2013 and then traded 2 lots till Mar 2014 and now trades 4 lots and shall increase the qty to 8 lots from January 2015 and this 8 lots will continue till Dec 2015!
Now coming to the main point why I shared my friend's story : I used the same set of indicators and strategy to trade crude from 1st Sep.2013 myself and my results though profitable overall but no where near his ! I have not yet progressed beyond trading 2 lots of crude as have had quiet a few loosing weeks also ! So do remember more than anything else its the "Trader" who earns or looses and not the Strategy or Indicators!

I am also having similar experience with my friend (Both were using same Strategy ) from his talks he always performed better than me after same days I came to know he is just giving fake statements and stopped the trading on particular system after facing some set backs in initial Days.

Lesson learned:
Normally most of traders enjoys to share their winning trades than losing this not means they are cheating if believe that than your greed may put you take more Positions which would initiates the disaster

 

[ashu1234]

Hii...good to see trying commodities.....Read your posts, would like to add up some points as I trade actively commodities too.
1st profit expectations are way too much and not possible untill you scale up or trade big swings which you said you'll not - as you will not trade in volatile market.
2nd when market will turn volatile you cant know and still will be in trade so from the perspective of an active trader its hard to distinguish normal and volatile market unless you are very experienced marking the gauge and choose to stay calm, believe me its very tough to actually do than easily say.
3rd you have done paper trading fine as far as understanding the system but trade with real money and you'll see all the rules you make breaking in front of your eyes yourself......(and it will happen many times for sure.). Demo trading and paper trade dont qualify. real challenge is to trade actively where loosing streak breaks your discretionary skills (even you are trading a system there's always be many thing left at your discretion like position sizing, profit booking stop losses and like you said volatility or range bound market which you'll take it with your perception to trade or not), so results will be very different.
4th Its get tough even more if you dont have any other source of income. Coz during the course of time there are times where market is very quiet or choppy and you'll need to let that time go without earnings(think can you really do that for a month or two) coz these are the things which will be going to impact your psyche and what makes difference between doing paper trade and real trade.

Thats all.....post your trades and I'll surely comment my takes on it apart from that money management and real time things are left on you. All the best. :thumb:

 

[netapep]

Sold silvermini at 36120
Target 35760
SL 36300

 

[netapep]

Bought crude at 4777
Target 4817
SL 4940

 

[niftytaurus]

My suggestion : Trade Crude for just 15 points gross per day! This should give you around approx 12 points net per day after expenses and slippage! (Slippage can be big at times which please keep in mind)! Now with a lot size of 100 and no. of trading days being 20 in a month , this translates to :
12X100X20=24000/- This is paper calculation hence expect the actual results to be lower as there shall be loosing or less profitable days, and even if you can manage to get 50% of this , that comes to 12000/- per month ! Not bad return on 50000/- !
I suggested Crude Oil because a friend of mine trades Crude for just 10 points Net every day and he has been consistently doing it for last 17 months with not a single week going in loss ! He started in July last year with trading a single lot for first 6 months, till dec 2013 and then traded 2 lots till Mar 2014 and now trades 4 lots and shall increase the qty to 8 lots from January 2015 and this 8 lots will continue till Dec 2015!
Now coming to the main point why I shared my friend's story : I used the same set of indicators and strategy to trade crude from 1st Sep.2013 myself and my results though profitable overall but no where near his ! I have not yet progressed beyond trading 2 lots of crude as have had quiet a few loosing weeks also ! So do remember more than anything else its the "Trader" who earns or looses and not the Strategy or Indicators!

Hi Umesh
thanks for nice informative post.
I try to do same with nifty & bank nifty..suppose same as crude, we make target of nifty..20 points daily @ per lot (after brokerage & other expenses), so there are some money management & risk plan, where i get confusd..so please suggest , in those condition..
1) should we stop trading for that day, after getting our target..as should we exit as soon as we get our target..or should we TSL? But in TSL ,we have a risk of loss our 20 points also..
2) what will we do, if the 1 trade will be in loss..should we take another trade, or just closed for the day..?or what the maximum loss for the day?
3) to getting 20 points daily, whats the sl for that trade? R:R wise?
so please suggest how do you & your friend handel that..it will be a great help in understanding that
Thanks again

 

[niftytaurus]

Bought crude at 4777
Target 4817
SL 4940

I think there is a typo..
is Sl at 4940? or 4740?
if its is 4740..i think sl hit..

 

[laotze]

Bought crude at 4777
Target 4817
SL 4940

SL 4740 or 4940 ?...low formed 4740

 

[netapep]

Yes sl hit

 

[niftytaurus]

on what time frame ru trading?

 

[netapep]

30 minutes