3 is the total number of trades . I still don't understand how you end up taking so many trades if you are following floor pivots system(use 5mins time frame). Also you are still spreading thin across multiple instruments. To be frank it looks more like gambling to me. Try to stick to nifty options and keep a trade limit. When you have a trade limit, you wont jump into trades. Any ways why would you want to trade with real money in the first place when you are still learning ? If you feel that you need to keep semblance of a real trading environment, at least trade with a single OTM option contract instead of such large amounts.
1 Lakh to 4.5 Crore in 5 Months..Possible?
- Thread starter pradeep161
- Start date
- Tags equity cash future and options goal
Appreciate that....
I am not a pro trader; as the matter of fact I am still learning and developing my own system..
Neverthless, Here are some really wonderful threads you can check, I have gained from them immensely:
1. Teach a man to fish by Saint....you can find it in futures section under derivatives.....this will teach you very basic of trading...
2. "Trading NR7" thread by AW10.....a nice system explain very well by AW10..
3. Nifty pivot point thread by SavantGarde.....he provides here some crucial buy/sell/hold trigger points for positional trades and also teach us how to trade positional using SMA crossover....this thread is under equities section...
4. You can also watch levels posted by Nishkant in his thread...this thread you can find under futures section...
5. 60 min flow method by Saint which you could find under futures section...
seems like lot of things for you to read and work on.....but you gotta do it..
anything else you want from me?
I am not a pro trader; as the matter of fact I am still learning and developing my own system..
Neverthless, Here are some really wonderful threads you can check, I have gained from them immensely:
1. Teach a man to fish by Saint....you can find it in futures section under derivatives.....this will teach you very basic of trading...
2. "Trading NR7" thread by AW10.....a nice system explain very well by AW10..
3. Nifty pivot point thread by SavantGarde.....he provides here some crucial buy/sell/hold trigger points for positional trades and also teach us how to trade positional using SMA crossover....this thread is under equities section...
4. You can also watch levels posted by Nishkant in his thread...this thread you can find under futures section...
5. 60 min flow method by Saint which you could find under futures section...
seems like lot of things for you to read and work on.....but you gotta do it..
anything else you want from me?
Re: make money or it will make u
go 4 it
but ill show u
invest 100000
& trade short or buy at 1% profit atleast 3 trades
& calculate for every day profit as capital of another day
next do it exactly for 264 days
(inc holidays)
see what u get in 1 year
skip a day or 2 if u feel its not ur day to trade
go 4 it
but ill show u
invest 100000
& trade short or buy at 1% profit atleast 3 trades
& calculate for every day profit as capital of another day
next do it exactly for 264 days
(inc holidays)
see what u get in 1 year
skip a day or 2 if u feel its not ur day to trade
As per your suggestion, I have started trading on OTM Options..
I am trying to limit the number of Trades on a daily Basis.I have to trade with Real Money because i do not have enough time left to complete the goal.I started this on 22nd June 2009 and have been suffering a bit of Losses and Gain,however not much has happened..the trend still holds..tring different methods still pretty much the same:annoyed:..Have to get out of this Rut.else will Rot..
I am trying to limit the number of Trades on a daily Basis.I have to trade with Real Money because i do not have enough time left to complete the goal.I started this on 22nd June 2009 and have been suffering a bit of Losses and Gain,however not much has happened..the trend still holds..tring different methods still pretty much the same:annoyed:..Have to get out of this Rut.else will Rot..
I happened to see the posts here today and kind of discussion going on.
Sorry Pradeep and others, I disagree with the approach that u are taking to make 4.5Cr from 1L.
Making money in market is not as simple as doing number crunching in excel. You copy the formula for few more rows and you will start seeing the numbers in 10Crs.
Have u every thought, why nobody else has made that kind of money in the market starting from the place where u are now.
We do see such amt made in the market, but that comes after many years of slogging / pain / learning / finding solid systems that suits TRADERs individual personality and attitude
and lot and lots of psychological control on Traders mindset.
Some facts that I have learned /read about trading are
1) 90% traders are looser and only 10% are winner. and out of those 10%, hardly 1 to 2% make awesome money.. but others still make lots of money.
2) Trading is 70% about psychology.. 20% risk and money mgmt and hardly 10% about trading system.
3) Trading is much bigger domain then technical analysis, or basic concepts mentioned in many popular books. If you want to learn trading then read the books
focus on trading not on Tech Analysis only. You will get to know what trading is all about - eg. come into my trading room by Alexander Edler
4) Though good system might be small % of your trading success.. but that is THE base.. If you don't have a system with +ive expectancy, just forget the returns.
You might win in few trades / for few weeks/ for few months.. but if you have poor foundation of trading / risk mgmt/ money mgmt - you will end up loosing your months of
earning in one single trade. and then u will start from row 1 of excel sheet.
5) There is a reason why most people are not successful in the market over long run because the mindset on successful trader is very different from the common human mindset.
The attributes that are good in our normal life (perfection, be right everytime, no thought of risk mgmt, limited opportunities etc..) are not applicable in trading world. So it takes time
to develop that trading mindset.. which will make millions for us.
Dear, I have gone thru the stage where you are now. Have made all the mistakes that are possible in trading..and not just once but many times.. It is tough journey ahead
and most of it the fight will be with yourself only.. your psychology / your mindset.
If could give one suggestion here - then forget the profit of your P&L and focus on Loss part of it.. and start managing them first. If you control your losses, profit will be automatically take care of itself.
You can have 4 outcome in any trade
1) Big Profit
2) Small Profit
3) Small Loss
4) Big loss..
First 3 results are acceptable and but key to trading success is our ability to learn and practice about how to stay away from 4th i.e. big losses.
I saw you trading in F&O / Trading OTM options etc, IMO, trading futures without proper system could result in big losses. OTM option is sure way to loose money if market doesn't move in that direction and in short period of time.
Hope you pickup the right skills soon.
All the best..on your journey to trading glory.
Happy Trading.
Sorry Pradeep and others, I disagree with the approach that u are taking to make 4.5Cr from 1L.
Making money in market is not as simple as doing number crunching in excel. You copy the formula for few more rows and you will start seeing the numbers in 10Crs.
Have u every thought, why nobody else has made that kind of money in the market starting from the place where u are now.
We do see such amt made in the market, but that comes after many years of slogging / pain / learning / finding solid systems that suits TRADERs individual personality and attitude
and lot and lots of psychological control on Traders mindset.
Some facts that I have learned /read about trading are
1) 90% traders are looser and only 10% are winner. and out of those 10%, hardly 1 to 2% make awesome money.. but others still make lots of money.
2) Trading is 70% about psychology.. 20% risk and money mgmt and hardly 10% about trading system.
3) Trading is much bigger domain then technical analysis, or basic concepts mentioned in many popular books. If you want to learn trading then read the books
focus on trading not on Tech Analysis only. You will get to know what trading is all about - eg. come into my trading room by Alexander Edler
4) Though good system might be small % of your trading success.. but that is THE base.. If you don't have a system with +ive expectancy, just forget the returns.
You might win in few trades / for few weeks/ for few months.. but if you have poor foundation of trading / risk mgmt/ money mgmt - you will end up loosing your months of
earning in one single trade. and then u will start from row 1 of excel sheet.
5) There is a reason why most people are not successful in the market over long run because the mindset on successful trader is very different from the common human mindset.
The attributes that are good in our normal life (perfection, be right everytime, no thought of risk mgmt, limited opportunities etc..) are not applicable in trading world. So it takes time
to develop that trading mindset.. which will make millions for us.
Dear, I have gone thru the stage where you are now. Have made all the mistakes that are possible in trading..and not just once but many times.. It is tough journey ahead
and most of it the fight will be with yourself only.. your psychology / your mindset.
If could give one suggestion here - then forget the profit of your P&L and focus on Loss part of it.. and start managing them first. If you control your losses, profit will be automatically take care of itself.
You can have 4 outcome in any trade
1) Big Profit
2) Small Profit
3) Small Loss
4) Big loss..
First 3 results are acceptable and but key to trading success is our ability to learn and practice about how to stay away from 4th i.e. big losses.
I saw you trading in F&O / Trading OTM options etc, IMO, trading futures without proper system could result in big losses. OTM option is sure way to loose money if market doesn't move in that direction and in short period of time.
Hope you pickup the right skills soon.
All the best..on your journey to trading glory.
Happy Trading.
Thank you very much for this Wonderful Feedback and I really appreciate it from the bottom of my Heart.
Yes.. I will make sure that I stay away from 4th i.e. big losses.
I am trying to make a system wherein i could make profit.
I don't mind starting from the 1st row of the sheet, since the maximum i could lose is 1 Lac.However, what you said about me having to fight myself is 100% true and is still going on inside me..I have dived into this after leaving everything to God and doing my part of effort..since i know this is a Battle and i have to accomplish the Goal which I gave set upon Myself.At least i would have the satisfaction that i have Tried..
I understand that my Losses ,Delivery Charges and Improper Money Management are the factors that are scaring the Profits away.I am trying to get around them as fast as i can.I even asked my Broker how to reduce the charges and he said that Options and Futures are the only 2 areas where the Brokerage can be lessened.I have come up with a small hedging plan which i still have to Try in the next Week..However,I do want to say thanks to You for this Feedback.
:clap:
Thanks
Yes.. I will make sure that I stay away from 4th i.e. big losses.
I am trying to make a system wherein i could make profit.
I don't mind starting from the 1st row of the sheet, since the maximum i could lose is 1 Lac.However, what you said about me having to fight myself is 100% true and is still going on inside me..I have dived into this after leaving everything to God and doing my part of effort..since i know this is a Battle and i have to accomplish the Goal which I gave set upon Myself.At least i would have the satisfaction that i have Tried..
I understand that my Losses ,Delivery Charges and Improper Money Management are the factors that are scaring the Profits away.I am trying to get around them as fast as i can.I even asked my Broker how to reduce the charges and he said that Options and Futures are the only 2 areas where the Brokerage can be lessened.I have come up with a small hedging plan which i still have to Try in the next Week..However,I do want to say thanks to You for this Feedback.
:clap:
Thanks
Similar threads
-
-
Journey of an Intraday NIFTY Trader with 5 Lakh Initial Capital - REAL TRADES
- Started by milkyblack
- Replies: 186
-
Investors Lose 7 Lakh Crores. Day Traders make 2100% Profit.- Started by DayTrader007
- Replies: 4
-
-
2 lakhs - 15 years - into 1 crore - possible?
- Started by SidSenLongTerm
- Replies: 1