How to convert trading to regular income

[DanPickUp]

All,
Thanks for your opinions

Manish,
Thanks a lot for specific points & will surely use them as guidelines.

I do infact intend to do day trading. Which I guess requires me to do good home work on TA. I plan to invest 7500 on monthly basis with appriciations targetted per week & no open positions at end of business day.

Attached is a caluclation sheet which I intend to use as a overall objective. Of course, it may not be always possible to achive 8% straight on all weeks, but this is what I am targetting net-to-net.

Would appriciate if you could go through the sheet below & comment if this is something you find feasible. BTW I do realise that appriciation will be lot higher at the end of year provided this really works

Cheers,
Ashish

Hi Ashish

Your excel sheets remembers me back at those times, where I was a little stupid and signed a contract for a live insurance. I only saw the numbers and I was feeling already as a rich guy. Nearly the same way explained from the seller. Now I am older and real life has proved other things, means : They never made that number as shown.

I do not say, it is not possible to make money in trading. You can believe me : You can make a hell of money in trading. But you are a best example of a beginner, which only concentrates on the money side and has no clue about a trading setup. If you would, you would ask if this setup works and what could be improved instead of showing such a simple excel sheets.

This may all sounds a little harsh, but you better learn first a trading setup which suits your situation you are in and the money you probably will make then, is only a byproduct of those trades setups if you did it the right way.

Protect your hard earned money as long as you are on that level, which you are now. If you ever start spending any money on any trades, be sure to be educated and prepared as best, as you would be when you go to a boxing fight with a boxing champion. Or do you like to get one in your face from that champion ? as you will get hurt in your mental setup, when losing your money in the market.

Take your time to learn and let it take as much time as it needs. If it takes a year or two or more, so it will be.

All the best

DanPickUp

 

[sumeetsj]

The solutions given here by experts are most appropriate.
although study first and start trading,
do not think about returns for first 6 months.
Just work in the direction of capital preservation,
"Detach" yourself from the end result because even if a part of it remains,
it might pressurize you to take unnecessary steps leading to undesired results.

 

[looser]

Manohar, Even if you are proved wrong , not all 1.2 billion can earn as Stock market is a zero sum game!!

Its not a zero sum game, plz understand its negative sum game. U will have to pay brokerage and other related charges weather u r in profit or loss!!

 

[munde_77]

Deal all,
I am new to trading & need to adapt to trading as my regular means of captial buildup besides my job. To begin with I am tragetting for 8% of weekly appriciation (day trading only). This will provide me double the amount inside a year. I would like to know if this is a practical target or is it too modest? I am trying to figure out a benchmark against which I can measure myself as a biginner. Any advice would be helpful

cheers,
Ashish

The target is too steep if you are new to trading. Initially try to protect capital first. Trade in low volumes. In initial stage Achieving 8% per week is unrealistic. Go Slow. Don`t overleverage and overtrade.
Money Management is the most important aspect of trading.

KOI HUMKO ONE PER CENT PER WEEK GUARANTEE RETURN DE DE . MONTHLY 4/5 % YEARLY 50/60 % KAFHI HAI
Please don`t risk too much
U are talking of 8% per week. If I get 1% consistently per week it is abundant for me.

 

[shubhamchugh]

8% weekly gain can give you 100% appreciation inside 10 weeks why wait for one long year, if you find the answer please let me know, wow that could be biggest bonanza 1.2 billion Indian's can become Billionaires no work no poverty just money every where what a dream .... been waiting for this nearly 15 long years of trading..... may be possible i may be wrong for all these years !!
:clapping:

My dear that's not possible.Becoz in stock mkt. if someone is gaining 1 Rs. then other one is losing 1 Re. .Its not possible that both will gain 1 Re. One has to lose to give gain to other.
Agar aapne 1000 Rs profit liya to iska matlab ye ha ki aapne woh 1000 Rs . kisi aur ke haath se khenche ha. iska matlab ye nhi ha ki woh 1000 Rs. naye paida hue ha world me.
:hap2:

 

[rajsingh]

My dear that's not possible.Becoz in stock mkt. if someone is gaining 1 Rs. then other one is losing 1 Re. .Its not possible that both will gain 1 Re. One has to lose to give gain to other.
Agar aapne 1000 Rs profit liya to iska matlab ye ha ki aapne woh 1000 Rs . kisi aur ke haath se khenche ha. iska matlab ye nhi ha ki woh 1000 Rs. naye paida hue ha world me.
:hap2:

Thats true only in fno, not so in the cash markets.

 

[Subhadip]

please visit the thread.. you will get ur answer
http://www.traderji.com/trading-diary/54007-lets-double-money-40-trades.html

 

[munde_77]

most traders are undercapitalized...and to make the effort of trading worth their time, they have to set such high targets...which leads to overtrading/overleveraging and ultimately to account destruction.

If you were trading with 10 crores, would you still try to make 8% per week?

U r right:thumb::thumb::clapping::clap:

 

[munde_77]

The target is too steep if you are new to trading. Initially try to protect capital first. Trade in low volumes. In initial stage Achieving 8% per week is unrealistic. Go Slow. Don`t overleverage and overtrade.
Money Management is the most important aspect of trading.

KOI HUMKO ONE PER CENT PER WEEK GUARANTEE RETURN DE DE . MONTHLY 4/5 % YEARLY 50/60 % KAFHI HAI
Please don`t risk too much
U are talking of 8% per week. If I get 1% consistently per week it is abundant for me.

My target 1% weekly on cosistent basis yearly 50% :thumb::lol::rofl::clap: