Need Some Clarification About Mininifty Trading

Hai Friends

Currently i am a trader,investor in cash segment.. Some days back i came to know more about futures after that i searched in traderji and also i asked my broker all are saying "IF u want to play with futures then first play with mininifty" so i planned to play with mininifty

Based upon my understanding i have given the following example.. Please Go through it if anything wrong in this means please let me know..

For buying/Selling any nifty(50 count)/mini nifty(20 count) we need 2 kind of margins

1,intial margin This is used to buy/sell futures
2,span margin This is used to close the position on every day

These 2 margins are varying based upon the market situation and also these are varying among the brokers

I will explain this as detail below

on16/8/09 nifty close @4517.80 so
Intial margin for mininifty = [4527.80 * 20 (lot count)]*11%(may vary we have to check in religare) = 9939.16
Span margin for mininifty = [4527.80 * 20 (lot count)]*8%%(may vary we have to check in religare) =7244.48
So for buying 1 lot of mininifty we need = 9939.16+7244.48 = 17183.64

Here is the example of trade

1,Suppose tomorrow if we bought 1 lot of mininifty @ 4517.80 and if we sell that same @ 4532.8 means we will get 15 pts as profit so
Our profit is (15*20) = 300 Rs
So in our account we will have 17183.64(span+intial margin)+300(profit) = 17483.64

2,Suppose if we get 15 pts loss means then
Our loss is (-15*20) = -300
So in our account we will have 9939.16 (intial margin) + [7244.48 (span margin) 300(loss)] = 16883.64

So if we loss all our span margin also we will get our intial margin while closing our position.

Please Reply wheather my understanding is correct and also give your opinion on mininifty trading..My target is daily 10-15pts with 2 lot of mininifty is it possible to achieve this..

i am going to use simple pivot analysis method for prediction

Waiting for ur valuable replies

Though this is old thread, I like to clarify this query as well..

Different Brokerage houses have different approach towards
MTMs.Some people want money immediately if there is no
balance and MTM falls negative.Whereas some people want
money either on expiry or on squaring off.Though in both the
cases the transaction goes smooth, any new orders will not
be entertained unless the MTM balance is paid.

Daily 10 points is not possible even daily 1 point consistently is impossible.Some days will be loss(even months) some days profit but overall u can earn if u have a systematic approach.
Anybody who says that he makes 15% 20% per month consistently, you just ask him to show his account statement u will know the truth.
99% people in this industry are wankers or say TYRO in the words of jessie livemore.