DAY TRADERS i Wanted to know the real fact about DAY TRADING....

Few years back one guy approached me saying to open an demat account with stock broker company .His promise was through that i can earn up-to 7 thousand in a day through day trading and one of his friend is earning so much on average it seems.
THE REAL DAY TRADERS PLEASE TELL ME THE FACT AND EXACTLY HOW MUCH ONE EARN IN A DAY ON AN AVERAGE(Clear my Doubt please).

well most of the day traders shut thier shops. I have read that somewhere.
I myself have lost more than 20,000 rs in day trading in 7 to 8 months and still loosing.
I invested only 25k to test my skills. now you can get an idea. I still believe I can make
thousands in intraday by rectifying my mistakes.

This is a standard practice by most of the brokers. Brokers are in the business of generating brokerage and they will open an account,and they will have a sweet talking man or a girl called Relationship Manager who is not more than semi-literate in trading. They will trade on your account ( most of the time overtrade and trade frequently for small difference ) to generate their brokerage....They are not bothered about your account making money....after few months,your account will deplete,you will curse your luck and the Relationship Manager look for another client....trading on someone's account is illegal but goes on in all brokerages as they have brokerage targets.....

Making Rs 7 ,000 per day is certainly possible in daytrading but you require a capital of 6-8 Lacs for that....trying to make Rs 7,000 per day on a capital of Rs 1 or 2 lacs cannot be done with any consistancy....

Day trading requires special qualities,skills and knowledge....if your broker's Relationship Manager has all those then why would he/she work for a few thousand rupees salary ? Think about that and dont fall prey to these schemes....learn it and do it yourself....

A good daytrader makes about 1 to 1.5 % of his capital everyday considering winning and loosing trades.....

Best wishes,

Smart_trade

Mr. Smart_trade
Thanks .According to what u r said with 1 lakh will it be easy task to make 1000 per day or it involves years and years of expertise. I mean on average a individual with minimal knowledge can he earn atleast 500 per day with 1 lakh capital

Try to get somwone to point u in the right direction. Else get ready to put in years of hard work. If u are talking about making money by trading tips , forget it friend its a dog eat dog world as anyplace else.

More importantly see if u have the mental makeover to make it as a trader. All the best friend.

Hello coollife,

Yes making Rs 500 or Rs 1000 everyday on a capital of Rs 1 L is achievable ...but it requires expertise and practice....it is not easy....Average indivisual with minimal knowlege looses in the market...that is the hard fact...

Smart_trade

Hello Smart_trade
Thanks a lot again.I have plans of getting into brokerage firms as a dealer(i have taken capital market dealers module exam, after passing it only). I am new to this field.Guide me if u know anything regarding it.

Making money in Day Trading is not a big problem. Any setup gives you profits. Sometimes you can make a big win too. The actual problem is not out there. Its within. Nonexpectation of extreme trends, countertrends, midday reversals, extreme ranges, runaway prices will turn our already earned profits into losses.

Hence, the actual key is not in making money but in consistency. The success in day trading lies in retaining already made profits without giving away to markets that clearly indicates a good money management and psyche of the trader.

Day trading is a high probability game. If we can control our greed for super profits and fear of loss of profits/capital coupled with good money management, making descent profits is not at all a problem.

hi there
The fact is you can make money but before that, you will loose money for a long periad of time.

i had a brokar in hyderabad and he is day trader. isaw him trading and i saw him making money atlist 3000 rupees per day CONSISTENTLY.

its not about your trading time frame its about how you trade that time frame.

beore think how much you will make, you should think how much you will losse before you start making money.

regards

Ali