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

Smart_trade

Smart_trade

Moderator
#74
#74
sumosanammain said:
The offer of hot idlis and coffee is still on.... :)

Come on ST, lets meet up and storm up a small system like we used to on the forum in the old days....
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Oh....that was one hell of a system...:D

We will certainly meet over hot idlies and coffee soon. I will get in touch with you very soon. Coming near your house this weekend or the next ( this Saturday market is trading...so may be next weekend)

ST
 
S

skr

Member
#76
#76
milkyblack said:
Well, its just like any other venture, not everyone will be successful and not everyone will be equally successful. Never the less, there will be success stories, with something being common in them, like dedication, passion and all the good stuff, people talk about to achieve success.

In case of trading, having a mentor is really helpful, but finding a mentor is the most difficult part, so ultimately it boils down to learn from experience, with an open mind.

Its been many years for me to get involved with the markets, took lot of time, effort and capital to finally take trading as a profession. The road was rough, and still has bumps and always going to be as in case of any business, be however big or small.

Do not pray for an easy life, pray for the strength to endure a difficult one
― Bruce Lee

Its my 5th year running as a full time trader and have learned a lot from TJ.

Thanks
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It is nice to here from you that you are a successful fulltime trader since last 5 years.
Can you guide me? I will be thankful to you if you share your email address with me.
Thanks
[email protected]
SKR
 
S

skr

Member
#77
#77
Smart_trade said:
In the initial 2.5-3 years I was a struggling and loosing trader. I had left my job and had a saving of Rs 4 Lacs which was considered good that time. But continuous losses in daytrading, swing trading it was like going 2 steps forward and coming 3 steps back... I was making some money but my losses used to be large. I used to cut losses when it used to be large and unbearable. I finally came to complete blowout of the trading money. There I decided that this loosing has to stop and sold some shareholding which I had invested in and got Rs 55,000 and started all over again.

Key to success is dont take large bets, get out of loosing positions fast, let your profits be atleast 1.5 times more than your losses in daytrades and 2-2.5 times in swing trades. Try to make Rs 500 or Rs 1000 consistantly every day.

The method is important. It should be a competent method with positive expectation. Choose a method which you like and are comfortable with. Then one can make money in the long run. Watch your trading capital like a hawk. I always tell that in daytrading if the market is against you for more than 5 min, get out of that position, it is not working out.

Every trade will not be a large profit trade...most trades will be small profit/small looses trades with profits more than losses. Few trades will be large homerun trades . They provide the real meat .

All the above rules are known to everyone. I have not discovered anything new. My success probably was because for me the failure was not an option as I like trading very much. But it was tough, many times I came to make or break point. I could have failed as well....but I strongly believed that there has to be a way of succeeding here and I must find that out. Ability to adapt to market conditions is the biggest quality a trader must have.

If everyone follow the above, there is no guarantee that all will succeed but few will definately make it. It is a tough walk but worth the trouble at the end of the road.

Smart_trade
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It is nice to hear that you are a full time trader.
Can you guide us about the method you use to trade?

SKR
 
H

hmp

Well-Known Member
#78
#78
Dear ST Sir,kindly guide us about your approach towards money management & method to earn consistingly in the market. Regards.
 
Smart_trade

Smart_trade

Moderator
#79
#79
hmp said:
Dear ST Sir,kindly guide us about your approach towards money management & method to earn consistingly in the market. Regards.
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Not possible here. It needs lots of explaining ,examples, charts, concepts.... real trades etc . Too much time and efforts consuming.

ST
 
G

Gaur_Krishna

Well-Known Member
#80
#80
ST da, can just briefly write one post about it. it would be much more for beginners here. How do you divide your capital into many parts (10/20 that is using only 5-10% per trade), do you use R multiple & general RR etc . YOu have much stressed importance of SL many times

Regards,
Gaur_Krishna
Smart_trade said:
Not possible here. It needs lots of explaining ,examples, charts, concepts.... real trades etc . Too much time and efforts consuming.

ST
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