Day Trading Stocks & Futures

[Smart_trade]

I am one who uses a very simple system based on moving averages in conjunction with something else such as stochastics and slow stochastics. I like the simplicity behind it and believe that it is possible to be winning using these methods too

Price action for me is too abstract and am still at a very nascent stage as far as trading goes. Screentime is extremely important to learn and develop a sound foundation for it and unfortunately that is something I am in short supply of at the moment.

Whatever works for you and makes money is a holy grail for you.....that is the best system for you..

ST

 

[siddhant4u]

Few traders who worked on foreign assignments or had high paying jobs could accumalate 20-25 L trading capital but starting with 25 K or 50 K and going to 25 L is a long hard journey with lots of pain and hardships in it....but my respect to all full time traders who are earning from the market on their own skills and not dependent on anything outside...

ST

sadly, 25L to 25k is a short cut...

Sir, I know many have asked here before and it's not writing on the wall, what modest return a trader should expect him to be successful? 2% a month? (average across at least 2 years to include various cycles)

 

[Smart_trade]

sadly, 25L to 25k is a short cut...

Sir, I know many have asked here before and it's not writing on the wall, what modest return a trader should expect him to be successful? 2% a month? (average across at least 2 years in include various cycles)

One should base his calculations on 3-4 % returns per month... anything beyond that is very good....
As the capital grows it becomes difficult to maintain the % return rate...so on a 5 L capital 7-8 % is good and on 50 L capital even 4 % is pretty good.

ST

 

[Riskyman]

Few traders who worked on foreign assignments or had high paying jobs could accumalate 20-25 L trading capital but starting with 25 K or 50 K and going to 25 L is a long hard journey with lots of pain and hardships in it....but my respect to all full time traders who are earning from the market on their own skills and not dependent on anything outside...

ST

I'm in my 7th year as a full time trader after parting ways with a high paying Job. The first 2-3 years were a roller coaster ride. Making a couple of lakhs in a single trade in one day and losing double of it on the next trade. You know how it is when you begin . Thankfully and in hindsight all those failures were very instrumental in knocking sense into my brains. Gladly, I'm well past those days.

The only regret however is that... My earlier profession used to take up a lot of time and would not allow me to pursue other interests in life such as travelling etc. I had figured that trading would allow me to trade at my time and from any place. Sadly, I find myself in front of the terminal at 7AM each day. In the past 7 years, I have barely pursued any personal interests that I had actually set out to do. I have to admit that nothing stops me from doing all those things but I tend to keep busy with charts/news etc etc or with overseas markets.
Something I have to work on before age runs me down.

 

[Smart_trade]

New traders should try to achieve consistant profitability....for me a trader who makes 3% per month on average consistantly is a better trader than a guy who makes large money in one month and loses equally large the next month. If you achieve consistancy, the % returns will come automatically.

Smart_trade

 

[Smart_trade]

I'm in my 7th year as a full time trader after parting ways with a high paying Job. The first 2-3 years were a roller coaster ride. Making a couple of lakhs in a single trade in one day and losing double of it on the next trade. You know how it is when you begin . Thankfully and in hindsight all those failures were very instrumental in knocking sense into my brains. Gladly, I'm well past those days.

The only regret however is that... My earlier profession used to take up a lot of time and would not allow me to pursue other interests in life such as travelling etc. I had figured that trading would allow me to trade at my time and from any place. Sadly, I find myself in front of the terminal at 7AM each day. In the past 7 years, I have barely pursued any personal interests that I had actually set out to do. I have to admit that nothing stops me from doing all those things but I tend to keep busy with charts/news etc etc or with overseas markets.
Something I have to work on before age runs me down.

That is not good...such a routine will burn you out quickly....we should be at the terminal at 8:30 and close the terminal at 4:00 and then go out, play a game, go to the gym, go for a brisk walk, chat with friends...spend time with the family, go on outings with them, take them out for dinner, persue a hobby.....and be at the terminal to see charts at 9:30 for 45 min to 1 hour for next days preparation....avoid being a trading junkey...lead a full life....we chose trading so that we can have spare time for all the above didn"t we ?

Smart_trade

 

[Riskyman]

ST bhai, Thanks. I realized it. I had a ultra long vacation this time with wife and kids. I do swim and go to the gym regularly. My daily routine seems fine. It was more to do with other ambitions like agriculture, traveling, trekking etc etc (whatever small ambitions we all have) . While I am pretty content with life as such, I do agree with you that we earn money so that we can do things we want to do. Money is means to an end. Well said!!

Edit: Trading has surely managed to burn my black hair into grey!!

 

[Smart_trade]

I dont start the trading terminal before 9:00 morning time is my Yoga ,Pranayaam and meditation time....I just look at CNBC while doing yoga for a few minutes...

Evenings are for outdoor activities, I used to play Badminton,used to go to gym and swimming regularly but now my back pain and shoulder injury has restricted me but still go for 45-50 min brisk walk.

Saturdays and Sundays are reserved for the family,friends, relatives....so no trading related thoughts once the terminal is switched off...

One must take 2 vacations in a year, go on small 2-3 days trecks and other outings.

ST

 

[sanju005ind]

Doing a job and trading is difficult task since the thinking needs to be on very different levels.where proactive action is required in corporate job, trading requires reaction.being proactive in trading will get you into predictive mode and will prove disastrous. Win/Loss are part of the trading and a trader needs to accept both when he understands the system.In the corporate world losing is not an option.Switching mindset is very important. Many people have commented that having a job makes it easier for trading since assured income is there. If that was the case I would not be trading.As we grow into senior positions with higher pays package.The risk of becoming obsolete is more.Someday the mgmt will think of hiring 4 junior guys to replace instead of paying so high for one person. That's when you need an alternate skill and source of income.
Thanks to this forum I have no fear of that anymore. Learnt a lot from here.

 

[afin]

Doing a job and trading is difficult task since the thinking needs to be on very different levels.where proactive action is required in corporate job, trading requires reaction.being proactive in trading will get you into predictive mode and will prove disastrous. Win/Loss are part of the trading and a trader needs to accept both when he understands the system.In the corporate world losing is not an option.Switching mindset is very important. Many people have commented that having a job makes it easier for trading since assured income is there. If that was the case I would not be trading.As we grow into senior positions with higher pays package.The risk of becoming obsolete is more.Someday the mgmt will think of hiring 4 junior guys to replace instead of paying so high for one person. That's when you need an alternate skill and source of income.
Thanks to this forum I have no fear of that anymore. Learnt a lot from here.

Couldn't agree more with this.