May I earn 10K per month

[bomdila]

BTW.....are you from Arunachal Pradesh...?

No, I am not basically from Arunachal but there is some sweet memory........

 

[Pradeep Narayan]

I would also suggest you trade on larger timeframes - positional trades are best. That will allow you to think deeply into your trade and also give you enough time to exit.
Maybe practice Price Action or in case you fancy some indicators - use them.

The key here is to reduce the number of trades you do initially over a period in time & then increase the frequency when you are comfortable with your method.

 

[laotze]

Hi friends, I have been trading since last few months but unfortunately so far no luck. I wish to earn only 10K per month (excluding internet and other charges) doing intraday trading putting one lac in my trading account. I wish your kind advise 'How to go ahead'

Friend..first, understand...no luck factor in the market.

Second..with 1 lac...don't try intraday in the beginning....Try some kind of Higher Time Frame Swing trade with proper money management

Third, don't fix Rs.10K per month..some month, you may not get a chance...fix Rs.120k per annum and work towards that goal.

Your goal can be achieved with proper money management / patience towards trading opportunity.

All the best..

 

[bomdila]

Friend..first, understand...no luck factor in the market.

Second..with 1 lac...don't try intraday in the beginning....Try some kind of Higher Time Frame Swing trade with proper money management

Third, don't fix Rs.10K per month..some month, you may not get a chance...fix Rs.120k per annum and work towards that goal.

Your goal can be achieved with proper money management / patience towards trading opportunity.

All the best..

Thanks laotze. I wish 10k from 20 trading days, in which some may be winners n some losers. But, end the end of month I wish approx 10k profit.

 

[laotze]

Thanks laotze. I wish 10k from 20 trading days, in which some may be winners n some losers. But, end the end of month I wish approx 10k profit.

Problem starts here...don't fix that you want to trade all 20 days...you fix and make your mind...when you get a trading setup,then only you should enter your trade...

Don't fix anything...because...nothing is fixed and no rules in the market behaviour.

 

[RAAMAKANT]

Thanks a lot Ramakant sir & onlinegtrash sir for your kind advise. I have been reading books, watching videos tutorial and also trading on simulator (Demo trading). I specially following candle patterns, price action & harmonic to enter my trades, as I have read that most of the indicators are lagging. And to exit trades, I use predefined ticks or any divergence or any major key area for half of my position and then I follow the rest with TSL. I do use MP/Composite MP/Fibo R/E & projection to plot major key levels on chart.

No Sir please, I also one of the student of market like you.

I won't suggest any specific path like MAs, Ocsilators, Trend lines, PA or anything else. There are many but It's you, who have to choose your own path. Then there is Cash, Future and option markets; again it's you who have to choose your own vechicle. Then there are Positional, Swing, Intra day tradings; again it's depend upon you at what speed you want to go. And above the all it's you; who have to keep control on yourself with every other thing. There will be potholes, mud and dirt, blind turns, broken bridges and even dead ends; but it's again you who have to pass from all these difficulties. You have to sacrifice many things while going on this journey.

I am not frightening you my brother but as I am travelling this path before you so it's my duty to just aware you about future possibilities. And once you came across from all this then.....

Then also there is not a smooth road but...
But you will gain enough experience to travel smoothly with all this difficulties and you just enjoy your journey more than your destination.

But my friend, are you ready to go from all those sacrifices which it needs ?

 

[bomdila]

Problem starts here...don't fix that you want to trade all 20 days...you fix and make your mind...when you get a trading setup,then only you should enter your trade...

Don't fix anything...because...nothing is fixed and no rules in the market behaviour.

Thanks sir, but it's said 'A trading plan must be fixed and it should be followed with discipline'. Some traders say, in trading everything works, some says 'nothing works'. Some trade on price action, some trade on MP, Some use elliot and they say, it works for them. While others say the same stuff as just useless.

 

[bomdila]

But my friend, are you ready to go from all those sacrifices which it needs
?

Yes sir, I am ready...........
Right now I am doing a job and from my office I remotely check my home based computer on which my trading terminal and charting application run. I can't spend more time on that as I have to stay busy with my job. After getting all advises, I am thinking of staying in my job for time being till I don't learn and understand TRADING.

 

[laotze]

Thanks sir, but it's said 'A trading plan must be fixed and it should be followed with discipline'. Some traders say, in trading everything works, some says 'nothing works'. Some trade on price action, some trade on MP, Some use elliot and they say, it works for them. While others say the same stuff as just useless.

Friend...you are right..

Please understand one thing...all theories and whatever you have mentioned above not invented by us and just we are following over the period of time accidently...the problem starts here..only inventor knows/interpret 100% how to use those methods properly...so..nothing is full proof in this market...

Even Gann no where documented where from we have to calculate 45 degree?, but still we are using it...because we used do follow blindly...

Better follow your own rules fit for your subconscious mind and move.

 

[bomdila]

Everyone is suggesting me to trade on longer time frame, before going for day trading. Can someone suggest me a LTF for swing trading?