Gentlemen
Thanks for your ideas.
All I wanted was to see if any worthwhile tips come along.
First thing I havent said about time period-let it Be a
reasonable period one month to one year.
COMMENTS
Those tips about futures trading are ok but more loss is a possibility.
Thanks to Amit for his idea.
options are complicated for common investor
metals trading is worth provided you know which way you are going
using illegal means is out of question.
Let me summarise,
without adequate capital you get no where.
There is a certain minimum capital required.
Daytrading is alright provided you have
a software system to give signals to buy and sell with risk control
and you have
agood broker like indiabulls with
brokerage less at 0.03% one way, or others less than that.(dont use 5paisa.com for daytrading-your ship might sink in deep waters)
-----------------------------------------------
what to do?
The real money making is possible if you concentrate on medium to long term trading
techniques
Trendline following trading or
Breakout trading and
Momentum trading.
just two momentum stocks can make your dream a reality.
darvas box is one such thing.
Read my other article on momentum trading with couple of superstocks.
The sum and substance is
Invest in 20% of emerging bluechips which blow the profits out more than 80% of all others.
hOW DO YOU CATCH EMERGING BLUECHIPS?
Let us work on that.
more later
Just a small thing you might like to try.
Use a simple intraday or daily chart say from indiabulls if you are a member.
choose a moving average crossover with 5EMA and 20EMA,using a stochastics
(8,3,3)and then try buying and selling everytime you get signals.
As long as price stays over 5EMA and 20EMA,go on buying. Once price starts dipping below5EMA,GET OUT .Reverse your strategy now on downhill.
Here you cant use stocks but you can use index futures with stoploss.
example see chart of 4oct2006
http://finance.yahoo.com/q/ta?s=ESCORTS.NS&t=1d&l=on&z=l&q=l&p=e5,e20&a=ss&c=
and
http://finance.yahoo.com/q/ta?s=ESCORTS.NS&t=3m&l=on&z=l&q=l&p=e5,e20&a=ss&c=
Think as if 20ema is your trendline and if price falls 2% below it you exit or else stay with the trend.
simply remember trend is up if price is above 5ema and does not touch it, and part2 trend is down if price begins to fall below the 5ema,and time to play shortside with stoploss of course slightly below recent low for buying and slightly above recent high for shorting.
stay with trend
That is all you can make what you want over time.
Rvlv