Earn 15 lacs in 21 months with 1 lot of Minifty??

columbus · #51 27th April 2008, 04:41 PM

Quote:

Originally Posted by sudoku1

more short term......more entry exits.....more whipsaws......more emotions of greed & fear.....more time & concentration required , LESS PROFITS & LOSSES....
CHOICE IS UR's............

If you look at last 10 days data of NIFTY futures ,it ended flatly on 5 occasions and gained on 5 occasions.If you further look at intra day data on those days it ended flatly ,Nifty futures might have showed some good movements.Expecting good gains without PAINS is meaningless.

rajakrsnan · #52 27th April 2008, 08:04 PM

Quote:

Originally Posted by sudoku1

more short term......more entry exits.....more whipsaws......more emotions of greed & fear.....more time & concentration required , LESS PROFITS & LOSSES....

MORE med 2 long term......less entry & exits.....less whipsaws......less emotions of greed & fear.....less time & concentration required , MORE PROFITS & LOSSES......

CHOICE IS UR's............

The REALITY is that on an average so far we had been doing this consistently for the last 6 months on an average of around 300 points. that itself is the proof. may be others are unlucky, incopetent or impatient or do not like to go with the flow of the market. when one has to exit a positon, be emotionless then. Holding it against the trend and staying emotionless against the trend is stupidity. offlate medium term we have not been moving anywhere. when opportunity is provided, take it. this is where one has to remain emotionless. fear when others are greedy and be greedy when others are fearful.
as i mentioned in my first post, we are following an advisor's reccommendations and have been fairly successful in making those 250-300 points on an average. that does not mean we did not incur losses. we had. many times taking those losses were quite worthwhile as taking profits when it came to us.

rajakrsnan · #53 27th April 2008, 08:25 PM

Quote:

Originally Posted by columbus

Dear Raj,

The target of 300 NIfty points per month is achievable if one follows day trading ( with no overnight LOng/Short positions ) with strict stoploss. By carrying no Long/Short positions one certainly losses out ,but he can lot of peace. Sometimes Nifty gains /losses just 5 or 10 points but if you see on intraday basis this may be ±50 points.

the trade i mentioned in my first post is not of day tradings. its purely taking position and holding it till we get a reversal. this happened sometimes within 1 day or 3 day or 1 week after the first trade position. we cut the original position and take opposite position only when the trend says that now taking opposite position is worthwhile. there is no necessity to trade daily to make 250-300 points a month in Nifty. Because i have experienced it. I believe in what i experienced myself. I dont base my belief in another persons experience.

this month we have had a bad run and just about breaking even. there are months that has given us more than 500 plus points, so one has to learn to manage the position and ride the wave allthrough. we generally keep a stoploss of 100 points from the trade entry point. sometimes it is about 150 points, depending on the market volatility and underlying sentiments.

In market one should be practical. the otherday i came across a guy in one of the chatrooms at rediffbol that he is can generate 3 lacs profit a day in trading nifty. i asked him what is the margin that i have to put up for the trade. He simply said, you take two lots. that means one needs 1 lac. but then i said its difficult to generate 3 lacs. But he was adamant at what he says. i felt that was not a practical things to happen everyday. he was charging some Rs.5000 as service charge. except that he did not mention that it was daily or monthly.

this is where one has to be practical. ofcourse day trading nifty can generate good profits, provided one is very fast and able to catch the moves correctly. that may or may not happen correctly every day with everyone of us. there are a few who can do it consistently, and there are who just cannot do it. I admire the ability of those can do it consistently. thats all i can do. but for others, it is better to be practical and see the reality and trade accordingly. I do that.