Intraday Profit / Loss MGM

My MGM Method

  • Getting/Lossing 50% on my trading capital . I am DONE

    Votes: 0 0.0%

  • Total voters
    15
  • Poll closed .

wabuf

Well-Known Member
#31
Hmmmm . This is clearing up something . Should not get scared off . Wait for the support to act right sherbaaz ?
Thanks a lot !!
 
#32
Hmmmm . This is clearing up something . Should not get scared off . Wait for the support to act right sherbaaz ?
Thanks a lot !!
whether price will reach support/ret who knows BUT its better to wait for price to reach support/ret thn exiting trade randomly.

regds,s
 

wabuf

Well-Known Member
#33
how do i stop exiting prematurely . pl. help. I am not able to generate enough profits. In my previous trades i had over-waited to reach the support , but many a times it took drastic turns .but in this one see it crossed it . " Too much frustrated with this attitude. Its not going away . pl. help


Thanks
 
Last edited:

rjshem

Well-Known Member
#34
looking at ur mindset onething u can do is exit at fixed target of 2x (x denotes ur risk)after entry ie if ur initial stoploss is 2 rs at entry u place exit for trade at 4rs and wait for trade to either hit stoploss or 2x target. this way even if only 40% of ur trades hit 2x ull earn a decent profit. u have to backtest if ur system gives 40% success minimum this way .

giving example how this can work if ur capital is 5 lakh and ur risk per trade is 1% ie 5000rs and u get 2 trades avg per trading day then u have 40 trades in a month assuming only 40% of those 40 was succesfull it means u have 16 trades with a profit of 10000 and 24 trades with a loss of 5000 put together gives u a overall profit of 40000 for month which is 8% of ur capital after deducting brokerage slippage taxes u can still earn close to 6 to 7% which is not bad.

once u get entry just put stoploss and target set alert for either happening minimise ur terminal wait for either to happen.
hope this helps.
 

wabuf

Well-Known Member
#36
looking at ur mindset onething u can do is exit at fixed target of 2x (x denotes ur risk)after entry ie if ur initial stoploss is 2 rs at entry u place exit for trade at 4rs....
Hi ,

So from now on will risk 200 for 400 profit. let me do it for a week and will report here.

Thanks
ps : i trade only with 5000 .
 

wabuf

Well-Known Member
#37


the internet was down so couldnt exit but as per plan took exit when it hit 2pts . did I took the exit right ? but then again it fell 3 pts :mad:
 

rjshem

Well-Known Member
#38
Once ur entry triggers immediately place ur stoploss and target .also if net down u can call ur broker and he can place order.once u decide on a set of rules u have to follow it consistently what price does after our exit we cant control.but if ur system gave a sell again then take it with same set of rules otherwise sit and wait for next setup.
 

wabuf

Well-Known Member
#39
yea i thought its 100+ nifty and only airtel is looking sluggish , it wont get 2pts above my price , but then anything can happen . previously i used to put profit order but it was like 5-6 pts . then stopped that approach because had to exit when it reverses from 2-3 pts. will now put 2pts profit order , i know i may be missing rallies but then what to do :/ i am stuck b/w letting the profits run and exiting quickly . lol
 

wabuf

Well-Known Member
#40
today shorted dabur @ 318.80 , automatic profit stop @ 316.70 . But the rally went on till 313 i.e missing 3rs more .

todays profit = 200*2 = 400 , net = 400-120 = 280.
if i took the full rally then = 200 * 5 = 1000 , net = 880 .
(on 1200 account its 72% profit)
its very cruel missing rallies :(