MM Query

Its best to not trade scripts on results day, RBI policy day, budget day,big election results day. Have burnt my fingers a few times.

Vivek

Y multiple times u should not take more than two trades for intraday .risk control very important especially on news days.u need to work on ur reward should be atleast 2x or more .3x would be ideal with 40 to 50% win rate instead ur trying to take multiple trades with just 1x as reward which can hurt u more.as i told vijkris earlier ur victory from here on in ur hands only(failure also if do not correct mistakes).

VEDL has an average range of 7-8Rs. per session. So a stoploss of 50 paisa is way too small, less than 0.1 ATR. So either you increase your stoploss, or look for another scrip priced upto Rs. 150. You can also try smaller scrips like HDIL, ALBK etc. which will give a tolerable range + reasonable move.



BTW, according to the TV experts, both VEDL and HDIL are expected to do very good today.

Backtest the method one more time.Re-write the rules.

SL and draw down is part of system...plz dont try to switch over to other fancy system

aja you are probably getting your math done in a wrong way. You are targeting 1:1 RR. You need very high % of success (70% or more) rate. Which is simply not what you are getting. Count slippage and brokerage and your edge will disappear.

Tatasteel good for scalp
watch it :thumb:

You are already doing very good MM by having 0.5 sl on your trades.
This is more than enough MM.

Even having 1:1 risk reward is not a bad thing. Either 1:1 or anything above that is a good in scalping.

I don't think your are missing the money management part.
You must be missing identifying good trades.

Money management is not just risk:reward ratio.
MM is combination of RR ratio AND Probability of your Trade.

Example : A far out the money Nifty call which is trading at 1 rupee may reach 100 Rs. So this has a risk:reward ration of 1:100
Is this a good Trade to enter ? probably No. Because, the probability Of Nifty moving so high is very less.

Having good strategy/ Trade setup is primary and most important. Then applying MM on that Trade setup is secondary thing.

aja,1000 shares of VEDL on 50k means you are using 5 times leverage.
You should use only 2 times.Buy 400 shares only.
50paisa SL is not that bad,but target should be compulsorily 75 paisa to make it breakeven.


Your target of making 1500rs daily means 30k monthly on 50k capital is very unrealistic.Please get out of that Hope Zone ASAP.
Re-think,you trading under very unrealistic hopes and bad pressure.

Take only 1 trade a day for atleast 1 month and see if you could make that 350rs which you said above you can.This way you will learn many things.

Best Luck with whatever you decide.

IMO go for only 1% a day ie 500 Rs and max trade 2 per day
1500 Rs per day on 50k capital on daily basis is hard to achieve.
500 bahut hai abhi.
go for 1 Rs Target with 500 shares.
and enter only momentum trades , 1rs mil jata hai.
sideways phase mein dikkat aati hai.