1 Lakh to 4.5 Crore in 5 Months..Possible?

[columbus]

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.


Hope you pickup the right skills soon.
All the best..on your journey to trading glory.

Happy Trading.

Basically there are 2 reasons for big losses 1.external and 2.internal.
Atleast on internals we have some control but externals are beyond
our reach.

 

[pradeep161]

Basically there are 2 reasons for big losses 1.external and 2.internal.
Atleast on internals we have some control but externals are beyond
our reach.

When you say externals.. what externals are you talking about?

 

[columbus]

When you say externals.. what externals are you talking about?

There are many :
Power failure
internet disconnection
Attending phone call (Landline)
paying out some bill
hospitalisation
etc etc.

 

[Dev Mookerji]

There are many :
Power failure
internet disconnection
Attending phone call (Landline)
paying out some bill
hospitalisation
etc etc.

I am telling u how to avoid it.

Power failure

Keep an inverter instead of ups. It will cost just double of any good quality ups.

internet disconnection

Keep two connection. specially one usb modem if u have to go to places/travel a lot like me

Attending phone call (Landline)
paying out some bill

Could not get those points

hospitalisation
etc etc.

Carry ur leap top to the hospital along with usb modem

 

[columbus]

Originally Posted by columbus View Post
Attending phone call (Landline)
paying out some bill
Could not get those points[/q]

Say if you are alone at home and then phone rings ....................
Say if you urgently pay have to pay some bill like electricity or telephone bill ......

 

[Dev Mookerji]

Say if you are alone at home and then phone rings ....................

Cordless phone can be arranged for such situations. it costs few hundreds only (lesser than 20 nifty points, which otherwise doesn't matter for a full time trader/day trader)

Say if you urgently pay have to pay some bill like electricity or telephone bill ......

Net banking facility is available for electric/telephone bills etc

 

[Dev Mookerji]

Friend, I am not arguing with u.

Just giving my views. Dont take it as an advise, take ur own decisions.

 

[pradeep161]

Where can i find the Previous Days and Month Charts of Stocks and Nifty?

 

[AW10]

Basically there are 2 reasons for big losses 1.external and 2.internal.
Atleast on internals we have some control but externals are beyond
our reach.

columbus, first I thought that external factors are like election result, collapse of lehman, 9/11 attack.. etc.
They are big shocks...but if we take care of not exposing more then x% on of our capital on one trade, not keeping more then y trades open.. then we know that even in such case, we wiil not loose more then x%*y part of our capital.

best part is that they don't come everyday. The bigger problem is with internal factors (ego, holding on to loosing position and hoping, wishing that i will turn into profit) because they come with each trade. So if we can control internal factors, one of the biggest challenge of trading is addressed.

Other factors that u have mentioned, power failure, phone calls etc are lot more predictable events and with little thoughts, one can easily find possible solution for them. (dev has already suggested some of them).

In addition to that, effective use of limit orders / with trigger price can be of great help. In some cases, using higher TF for trading (so that bars change after longer gap giving us time to attend other tasks) that meets our need can help.

Basically, it is about finding the various pieces of trading puzzle together so that it meets our personal requirement and constraints.

Happy Trading.

 

[AW10]

Try Yahoo Finance ../ NSE site.