Is it possible to earn money consistently every month by day trading

SexyTrader

Well-Known Member
#4
Earning consistently in DAY TRADING is pretty tough !! Unless you really know the moves of the indexes/stocks/currencies like the back of your hand.

I do DAY TRADING, but its not that you have to do that everyday...I do it when it feels right and take the profits :thumb:
 
#5
No one has consistent profits in day trading. You win some day and you lose on the others. But your strategy should be such that over a long run you end up being in the profit zone. Your first aim should be to get more than 8-10% returns a year, which is the FD rate. Then once you have ensured that you can move on to more active strategies.
 
#6
No one has consistent profits in day trading. You win some day and you lose on the others. But your strategy should be such that over a long run you end up being in the profit zone. Your first aim should be to get more than 8-10% returns a year, which is the FD rate. Then once you have ensured that you can move on to more active strategies.
Thanks for your reply.
Since how many years you are trading and how you are doing now?
I want to know Whether is it possible to do full time trading and depend on trading for my monthly house expenses and my children school fees?
Is there any body who is full time trader having no other income source.
 

Rish

Well-Known Member
#7
Thanks for your reply.
Since how many years you are trading and how you are doing now?
I want to know Whether is it possible to do full time trading and depend on trading for my monthly house expenses and my children school fees?
Is there any body who is full time trader having no other income source.
Full time trading is possible, subject to back up for your monthly commitments atleast minimum two year till you get confidence.

My sincere advice, don't depend market for your monthly expenses immediately and spoil your (specially children) personal life and environment.

Take care
 

stumper

Active Member
#8
I want to know Whether is it possible to do full time trading and depend on trading for my monthly house expenses and my children school fees?
I doubt if your question will get any serious answer .. simply because its one of those repeated question.... Discouraging serious traders from repeating the same answer to your post.

None the less ......

I can tell you what successful traders do right.

They have loads of experience. Having learned the lessons the hard way -- By loosing money during the initial phases. I have'nt seen any successful trader with less than 3 years of trading experience.

They have learnt from the mistakes.

They have a detailed strategy and plan. Trading signals is just a small subset of his plan. Treat it as you would any other business venture.

They dont hesitate to admit mistake ... ready to take close/reverse a position. Employing Stop Loss for ALL trades.

They typically carry expertise in very limited market and very Limited instrument's.

They usually have a simple trading strategy. Most successful one's usually (not always) trade based on price action.

They are well funded/capitalized.

Lastly .... they have a edge , which they have personalized as per their psyche. They don't emulate others, understanding that what works for others may not work for them.
 
#9
I doubt if your question will get any serious answer .. simply because its one of those repeated question.... Discouraging serious traders from repeating the same answer to your post.

None the less ......

I can tell you what successful traders do right.

They have loads of experience. Having learned the lessons the hard way -- By loosing money during the initial phases. I have'nt seen any successful trader with less than 3 years of trading experience.

They have learnt from the mistakes.

They have a detailed strategy and plan. Trading signals is just a small subset of his plan. Treat it as you would any other business venture.

They dont hesitate to admit mistake ... ready to take close/reverse a position. Employing Stop Loss for ALL trades.

They typically carry expertise in very limited market and very Limited instrument's.

They usually have a simple trading strategy. Most successful one's usually (not always) trade based on price action.

They are well funded/capitalized.

Lastly .... they have a edge , which they have personalized as per their psyche. They don't emulate others, understanding that what works for others may not work for them.
Well said:thumb:

If you have time, please can you tell me how to make a traders diary?
What all information should be added to it before and after a particular trading day
I want to get organized in trading and my first step is to maintain a traders diary.
 

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