Making Rs 2000 a day!

sudoku1 · #41 7th May 2008, 09:02 PM

Quote:

Originally Posted by hari09omkar

In 2007,u wrote that 99.9% people can't trade on their own.2008,the figure says that there can be 4 members at the best,out of more than 45,000 people.This makes it more than 99.99%,who are not profitable enough to trade for a living.I have no objection with the numbers.Just liked the way u hit the sixers and made checkmates to most.Some Bobby Fischer,Maradona and Vivian Richards combination.Enjoyed!Enjoyed!!

hari , i doubt if people trade for a living or.....live for trading....

hari09omkar · #42 7th May 2008, 09:12 PM

Quote:

Originally Posted by sudoku1

hari , i doubt if people trade for a living or.....live for trading....

Live for tradding? For that they have to make sure of the infinite capital-source of their father-in-laws.What do u say?

kuriako · #43 7th May 2008, 10:12 PM

Quote:

Originally Posted by skgarg

Hii all

I still dont understand that how can it be sooooo difficult to catch a 10-20 point move in a day

(

Some 9 months before I too was in a "non-under-stand-ing" position!!!

But after a lot of plunging,bloodbaths and raining manna days I understand the difficulty!!!

Most times you will be in "non-understanding" position!
If you go short, markets give you 20 point long to cover!

Its a good strategy and pinpoint technique combined with stress free, versatile implementation that makes you grow to understandable position.

Play with your technique with board games or stock trading games. Then do realtime paper trades. Then accumulate some capital and "SPEND" it as tuition fee.

Be understanding after that!

SavantGarde · #44 7th May 2008, 10:22 PM

To Understand Exactly How Difficult It Is, You Will Need To Do The Following
1) Watch The NF & Decide At What Price You Want To Catch The Trade For Your 10-20 Points
2) Do What You Did At Point No.1 Again.

There Is Lot Of Hardwork That Goes Into Taking The Trade Properly....Therefore Do Not Think One Can Just Keep Making 10-20 or Whatever Points Without Preparing Hard For It.

SavantGarde

Quote:

Originally Posted by skgarg

Hii all

I still dont understand that how can it be sooooo difficult to catch a 10-20 point move in a day

(

kkseal · #45 7th May 2008, 10:41 PM

Quote:

Originally Posted by columbus

Garg,

My apprehension that FEAR and GREED will play a vital part and a strict STOPLOSS of 10 points will seen you in GREEN.

Last Friday the NIFTY future graph can be divided into 4 segments :

1. Downside 5260-5230
2.Upside 5230-5250
3.Downside 5250-5215
4.Upside 5215-5250.

A total of 110 points were at stake.But the problem was when to go SHORT and when to go LONG?

That's the million $ (or 2000 Rs - depending on capital employed) question

That's where trading technique & implementation (mentioned by CV) comes in (& if I may add - preceded by STUDY & UNDERSTANDING and followed by TESTING).

And that's why it's never easy.

Regards,
Kalyan.

Vairam.Ed · #46 8th May 2008, 12:49 AM

Right on the Money CV. It's always a pleasure to see your post and how great your views are. Its because of a good people like you this forum is alive and active.

I am also a rookie and trading for an year now.

skgarg, with my limited knowledge this is what I think (and I reserve the right to be wrong :- ) you are talking about consistency which I think only seasoned players have achieved. I think its hard even to loose consistently 2000/day in stocks (without comission ofcourse).

If rookies like you and me can earn 2000/day, how much do you think big trading institutions will make? and who's money do you think they are taking out?

Quote:

Originally Posted by CreditViolet

A common rookie question.

The question is not whether you could make 2000 a day or 20k a day, the question is 'Doing What'. If you could make 2k easily, you can lose it easily as well, so selecting random 5 stocks at their momentum peaks or installing 'amibroker' is not going to get you anywhere. If you don't believe me, just take note of this day and compare your performance 6 months down the line.
Money is made with technique and implementation which comes after through preparation. And between I'd be careful about the advice you get here, out of the 45,149 members registered here as of today, I don't think even 45,145 of them can trade for a living. The old saying - The eagle never lost so much time as when he submitted to learn from the crow.

columbus · #47 8th May 2008, 08:31 PM

Quote:

Originally Posted by kkseal

That's the million $ (or 2000 Rs - depending on capital employed) question

That's where trading technique & implementation (mentioned by CV) comes in (& if I may add - preceded by STUDY & UNDERSTANDING and followed by TESTING).

And that's why it's never easy.

Regards,
Kalyan.

Many people believe that in order to be profitable one should be 51% correct.
That is wrong.

Consider a scenario that a person has invested in 3 scrips at 100 Rs (100 shares) and fourth one at 500Rs(100shares). At the end of day he sold the first 3 shares at 110Rs and the fourth one at 450Rs.His success ratio was 75%. (3 profitable scrips ,out of 4).Still he has made loss.

Similarly the inverse is also true.At the end of day ,let us assume he has sold the first 3 scrips at 90Rs and fourth at 550Rs.His success rate was a mere 25%, but he has made profit.

sudoku1 · #48 8th May 2008, 09:16 PM

Quote:

Originally Posted by columbus

Many people believe that in order to be profitable one should be 51% correct.
That is wrong.

Consider a scenario that a person has invested in 3 scrips at 100 Rs (100 shares) and fourth one at 500Rs(100shares). At the end of day he sold the first 3 shares at 110Rs and the fourth one at 450Rs.His success ratio was 75%. (3 profitable scrips ,out of 4).Still he has made loss.

Similarly the inverse is also true.At the end of day ,let us assume he has sold the first 3 scrips at 90Rs and fourth at 550Rs.His success rate was a mere 25%, but he has made profit.

a loss of say suppose 10 % turns the trader 2 do even harder the nxt time.......cover the loss of 10% & earn the profit of 10%......while 2 lose....he works just the half 2 earn.

omkarmango · #49 8th May 2008, 09:46 PM

Quote:

Originally Posted by columbus

Many people believe that in order to be profitable one should be 51% correct.
That is wrong.

For consistent performance in trading..even being right in 40% trades is more than enough.

Quote:

Originally Posted by columbus

Consider a scenario that a person has invested in 3 scrips at 100 Rs (100 shares) and fourth one at 500Rs(100shares). At the end of day he sold the first 3 shares at 110Rs and the fourth one at 450Rs.His success ratio was 75%. (3 profitable scrips ,out of 4).Still he has made loss.

Similarly the inverse is also true.At the end of day ,let us assume he has sold the first 3 scrips at 90Rs and fourth at 550Rs.His success rate was a mere 25%, but he has made profit.

post some scenarios - from the world where... 'stops' exists.

kkseal · #50 8th May 2008, 10:00 PM

Quote:

Originally Posted by columbus

Many people believe that in order to be profitable one should be 51% correct.
That is wrong.

Consider a scenario that a person has invested in 3 scrips at 100 Rs (100 shares) and fourth one at 500Rs(100shares). At the end of day he sold the first 3 shares at 110Rs and the fourth one at 450Rs.His success ratio was 75%. (3 profitable scrips ,out of 4).Still he has made loss.

Similarly the inverse is also true.At the end of day ,let us assume he has sold the first 3 scrips at 90Rs and fourth at 550Rs.His success rate was a mere 25%, but he has made profit.

Even with such possibilities, what would you rather have - a 75% or 25% success rate?

(Also in the above e.g. the allocation was not equal in Re terms. However if a trader has reasons & rules for such asymmetric allocations he can always do it - which would be another test for his system/method)