How much profit do you make on a daily basis via day trading?

[jxcess]

Hello, I am a new comer to investing. I just happened to take an interest in investing after seeing my investments in a particular mutual fund rise by 20% in just 3 months. I know this sounds very meager to experts like you but for a new comer like me it's like opening up a Pandora's box. I also read the absolute guide to investing for beginners and even though I couldn't understand half of it I still think this is a wonderful forum and a heaven for investors. I am actually thinking of opening an account with sharekhan and investing not more than Rs 10,000, intially into day trading. I know this is a small amount but I first need to educate myself before taking any big risks. But the main reason I've started this thread is that I'm just curious to know how much you experts invest in day trading on a daily basis and how much average profit you make per day? Your valuable inputs wud help me get over my apprehensions and doubts over trading in shares.

Thanks

 

[netman]

if you are not femiliar with intraday trading, to start with your best bet would be to subscribe to some SMS based intraday tips, it will let you understand the trend easily.

Once you are comfortable, start trading with STRICT STOP LOSS.

I Again repeat, Intraday Trading should be done with strict stop loss.

I've seen people loosing 10K in intraday while they went to toilet for a minute cause they didn't had stop loss.

 

[TraderRavi]

I've seen people loosing 10K in intraday while they went to toilet for a minute cause they didn't had stop loss.

may be portable toilet will help ......:thumb:

 

[Steve]

may be portable toilet will help ......:thumb:

that was a great one liner Ravi Bhai:rofl::rofl::rofl:

 

[mechanian]

if you are not femiliar with intraday trading, to start with your best bet would be to subscribe to some SMS based intraday tips, it will let you understand the trend easily.

Once you are comfortable, start trading with STRICT STOP LOSS.

I Again repeat, Intraday Trading should be done with strict stop loss.

I've seen people loosing 10K in intraday while they went to toilet for a minute cause they didn't had stop loss.

Hi Netman,
could you please guide me if there is any research firm giving reliable intraday tips?
I could see lots of people complaining about existing tips givers (eg. Trade4target)

 

[VIKAS 21]

YES ... with the help of a good mentor it is alwaz possible to get success in every type of trading.

You need to be master yourself in methods, trade management ....

calls etc will not work .... And you will never be able to see your career as a trader...

So better to look for a mentor.....

You can get it .....

 

[shareking]

I would recommend you to go to this thread of Saint Sir first then start trading.
http://www.traderji.com/technical-analysis/6072-teach-man-fish.html

 

[shareking]

I've seen people loosing 10K in intraday while they went to toilet for a minute cause they didn't had stop loss.

He is not telling the truth. Actually, it went like this
Left there system open when went to toilets, someone came in and sold them at cheap rates.

 

[brad]

I am actually thinking of opening an account with sharekhan and investing not more than Rs 10,000, intially into day trading.

An excerpt from the book "COME INTO MY TRADING ROOM"
"Do not even dream of starting with less than $20,000. That is the barest minimum, but $50,000 provides a much safer flying altitude. It allows you to diversify and practice sensible money management. At the same time, I do not suggest starting with more than $100,000. Too much money in a trading account makes a beginner lose focus and leads to sloppy trading. Professionals can use a lot more, but beginners should stay below $100,000 while learning to trade."
-DR. ALEXANDER ELDER

Well, I am not saying that this need be set in stone but the author does try to provide a general outline of a decent capital to start with. Assuming PPP of 16 between USDINR, which gives us the figure of Rs.320,000 ($20,000*16 - barest minimum). Go figure.

Not to discourage you but I think, Rs.10,000 is too little even to think of active trading. Just my 2 cents.