Hi all.Is there anybody in this forum who is making money by day trading consistently?
If yes then what is the risk reward ratio for day trading,because i have found that 1:2 does not work with day trading.say my risk in 20 points of nifty i should have 40 reward which is not posssible everyday.
and suppose i keep 1:1 risk reward for day trading then 70 % of success even then i make very low profit.say i risk 10 points reward is also 10 then out of 20 days if i make profit 14 days(70%)and loss 6 days then i have only 80point which after deducting brokerage and slippage i would be left with nothing.Then how do successful day traders trade?
If i trade swing and positional trades i will be in good profit no doubt about that but the problem is it is difficult to sit idle before the computer watching the charts without doing any thing every day.
If yes then what is the risk reward ratio for day trading,because i have found that 1:2 does not work with day trading.say my risk in 20 points of nifty i should have 40 reward which is not posssible everyday.
and suppose i keep 1:1 risk reward for day trading then 70 % of success even then i make very low profit.say i risk 10 points reward is also 10 then out of 20 days if i make profit 14 days(70%)and loss 6 days then i have only 80point which after deducting brokerage and slippage i would be left with nothing.Then how do successful day traders trade?
If i trade swing and positional trades i will be in good profit no doubt about that but the problem is it is difficult to sit idle before the computer watching the charts without doing any thing every day.