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

[Smart_trade]

I remember one of ur old posts where u mentioned that u never had a losing month. To me, ur story seems more like mushy romance.

oh no....no loosing month even no loosing week is now....earlier when I was a struggling trader, I hardly had any profitable month . I had no one to guide and I was doing all wrong things, buying on impulse, averaging loosers, not getting out immediately and hold in hope mode, was undercapitalised...you name the wrong trading practice and I have done it all and some more..... But thank God, I could overcome all that nonsense. I am scared to even think of those days....

Smart_trade

 

[timepass]

oh no....no loosing month even no loosing week is now....earlier when I was a struggling trader, I hardly had any profitable month . I had no one to guide and I was doing all wrong things, buying on impulse, averaging loosers, not getting out immediately and hold in hope mode, was undercapitalised...you name the wrong trading practice and I have done it all and some more..... But thank God, I could overcome all that nonsense. I am scared to even think of those days....

Smart_trade

Sure is the story of everyone, but how did you get out of the "undercapitalised" part ... That's what I would be interested to hear.

 

[Smart_trade]

Sure is the story of everyone, but how did you get out of the "undercapitalised" part ... That's what I would be interested to hear.

Get a rich father-in-law..... This is the easiest way...if that option is not possible, then go to paragraph below :

Getting out of undercapitalised position was a long process. First we have to start making money consistantly, so the drain on the trading account stops. Then control your expences. I was trading full time and had to support my house expences on trading income. So capital formation was initially very slow. Suppose I earn Rs 1 Lac in a year, 60-70,000 used to go for running the house( talking about expences 15 years ago ) so only 40,000 capital formation. But when you start making money consistantly month after month, your house expences dont go up in proportion to your income, and the capital formation starts growing exponentially.

Once it gathers momentum, make sure we dont do something stupid and take a big dent in trading account. And it grows exponentially....

Smart_trade

 

[paras_123]

ST - great.....

 

[preethnfo]

"First we have to start making money consistantly,"
for this what you have done ST ji,
initially may be it is not day trade, then it could be positional few days holding trade.
if it is so , to trading like this which strategies you have opted.

if you start in these technology age may be recent upgradations scenario, then how could you have traded for initial phases of trading.

 

[TraderRavi]

Sure is the story of everyone, but how did you get out of the "undercapitalised" part ... That's what I would be interested to hear.

gud question.....:thumb:

 

[TraderRavi]

I am scared to even think of those days....

Smart_trade

m living those days..........

 

[friendforevers0007]

oh no....no loosing month even no loosing week is now....earlier when I was a struggling trader, I hardly had any profitable month . I had no one to guide and I was doing all wrong things, buying on impulse, averaging loosers, not getting out immediately and hold in hope mode, was undercapitalised...you name the wrong trading practice and I have done it all and some more..... But thank God, I could overcome all that nonsense. I am scared to even think of those days....

Smart_trade

so sir after that how you become looser to winner as you mentioned no one to guide you. how you find the right path in trading jungle... curious to know .. as most of the people quit early when they lost almost 90 % capital in short span . or those who return again and again with different strategy also lost .. can you share.. i think you faced the time when a number of scams in stock market happen. alot of operators games to wipe out retail trader or investors

 

[DanPickUp]

m living those days..........

http://www.youtube.com/watch?v=jHPOzQzk9Qo

 

[Steve]

Get a rich father-in-law..... This is the easiest way...if that option is not possible, then go to paragraph below :

Getting out of undercapitalised position was a long process. First we have to start making money consistantly, so the drain on the trading account stops. Then control your expences. I was trading full time and had to support my house expences on trading income. So capital formation was initially very slow. Suppose I earn Rs 1 Lac in a year, 60-70,000 used to go for running the house( talking about expences 15 years ago ) so only 40,000 capital formation. But when you start making money consistantly month after month, your house expences dont go up in proportion to your income, and the capital formation starts growing exponentially.

Once it gathers momentum, make sure we dont do something stupid and take a big dent in trading account. And it grows exponentially....

Smart_trade

Dear ST,

Many here and I, would appreciate it if you could elaborate a little more and
give us, some more details, You've been there and done it, a little help here
would go a looong way in helping us get out this loosing rut.

Don't know if we could turn things around as you did, but for some it could be a turning point.

My sincere thanks for all you've revealed, and done to help us in this forum.