Hi seniors/experts/frns..
I am trading for last 4-5yrs. Initially I started as an investor and during evry fall my capital used to get eroded. That's why decided to become a day trader. For last 2years I become a day trader. I know few technicals and chart reading but hardly applied any.
In last 2years, I have taken 4paid service as well to find its more horrible. My total loss comes around 8Lks+ in last 4-5yrs.
For last 2 3 months I am trading on my own and 40% actual trading and 60% of the time paper trading. My trading strategy is based on screen reading mostly (80%)and Google chart to know the EMA,volume,BB and all.
I am getting a moderate success as well and earning 20-25K per month actually (last 3months consistently). My big success comes during 9.15-10AM. Does my current success is temporary as happened to all newbees
I am only trading in future and have a selected list of 10scrips with good liquidity. Not trading in Nifty.
My rules
o My capital is 1.5Lks.
o Risk per day is 3% i.e. 4-5K (max SL on day basis)
o If first 2 trade ve means close for the day
o My scccess/failure ratio is 60:40
o No overnight position
o Generally dont trade much after 11PM, only paper trade
o Only 1lot in future per trade
o No nifty trade
o No option trading..if at all intraday and in nifty only
Am I doing the correct way of trading i.e. Based on screen reading only
What else weapon I should add in my armory to make it a big success like 50-60K per month.
Please frns I need your suggestion as this is my last chance to continue trading. If unsuccessful, will quit trading with a very heavy heart. I want to learn to make it a big success
I am trading for last 4-5yrs. Initially I started as an investor and during evry fall my capital used to get eroded. That's why decided to become a day trader. For last 2years I become a day trader. I know few technicals and chart reading but hardly applied any.
In last 2years, I have taken 4paid service as well to find its more horrible. My total loss comes around 8Lks+ in last 4-5yrs.
For last 2 3 months I am trading on my own and 40% actual trading and 60% of the time paper trading. My trading strategy is based on screen reading mostly (80%)and Google chart to know the EMA,volume,BB and all.
I am getting a moderate success as well and earning 20-25K per month actually (last 3months consistently). My big success comes during 9.15-10AM. Does my current success is temporary as happened to all newbees
I am only trading in future and have a selected list of 10scrips with good liquidity. Not trading in Nifty.
My rules
o My capital is 1.5Lks.
o Risk per day is 3% i.e. 4-5K (max SL on day basis)
o If first 2 trade ve means close for the day
o My scccess/failure ratio is 60:40
o No overnight position
o Generally dont trade much after 11PM, only paper trade
o Only 1lot in future per trade
o No nifty trade
o No option trading..if at all intraday and in nifty only
Am I doing the correct way of trading i.e. Based on screen reading only
What else weapon I should add in my armory to make it a big success like 50-60K per month.
Please frns I need your suggestion as this is my last chance to continue trading. If unsuccessful, will quit trading with a very heavy heart. I want to learn to make it a big success