is scalping for 3% intra day good/possible ?Senior's guidance plz

#1
Hey guys ,

I've been reading alot of this forums since the past 6-7months and I was wondering on resorting to scalping (as it seems to suite my style) . Anyways , my capital is 50k , so i can basically buy one lot of a stock and trade it at a time .
So i was wondering would a 3% target be reasonable/ realistic ?
I dont think that i would directly get 3% as soon as I start , but after a few months of loosing money (6-8months) . Would 1.5k or 3% be realistic target ?

My motive is to substitute trading for my job . Looking forwards to commodities ,stocks and a very little trading of forex .

Asking the seniors ,

HedgeFudge
 

umeshmandal

Well-Known Member
#2
Mathematically, doing 3% a day is not only good, its awesome !
Just imagine what doing just 3% per MONTH (not day) consistently can do to your Capital ? Return from Bank FD is max 10%, Bonds are approx 12% , Corporate Deposits are max 14% and you would be doing 36% ! And if we calculate on monthly rest basis, the return might exceed 42% which amounts to doubling your capital every 2 years ! :D
Whether its Possible, seniors can guide ! :p
 
#3
Hey guys ,

I've been reading alot of this forums since the past 6-7months and I was wondering on resorting to scalping (as it seems to suite my style) . Anyways , my capital is 50k , so i can basically buy one lot of a stock and trade it at a time .
So i was wondering would a 3% target be reasonable/ realistic ?
I dont think that i would directly get 3% as soon as I start , but after a few months of loosing money (6-8months) . Would 1.5k or 3% be realistic target ?

My motive is to substitute trading for my job . Looking forwards to commodities ,stocks and a very little trading of forex .

Asking the seniors ,

HedgeFudge
If you are trying to make 3 % per day on your capital net of losses,brokerage etc it is way too high to achieve consistantly. If you are planning to be a full time trader supporting the family on trading income with Rs 50,000 trading capital, that is unrealistic expectation to say the least.A full time trader will need atleast 10 to 20 times your capital to be able to support the household on trading income assuming an average household will need 40 K per month for expenses.

Smart_trade
 
#4
If you are trying to make 3 % per day on your capital net of losses,brokerage etc it is way too high to achieve consistantly. If you are planning to be a full time trader supporting the family on trading income with Rs 50,000 trading capital, that is unrealistic expectation to say the least.A full time trader will need atleast 10 to 20 times your capital to be able to support the household on trading income assuming an average household will need 40 K per month for expenses.

Smart_trade
Thank you for replying sir ,
Sir ,
My aim at the starting will be to build my capital . when I say 3% per day , I mean the average (including brokerage) . I'm planning on going to zerodha , so hopefully brokerage would be extremely low .
My goal is to make like 1.5k at an avg/day , even 2% i,e 1k would be good enough for me(but yes net off losses , maybe i might loss 1k on one day but make 3k some other day . I just want the avg to be 1.5k-1k) , as I want to try out my entrepreneur venture.
2ndly i need to only feed myself currently and not my family , so i will solely be living off the money i make .

Is this practical sir ?
If still its impractical , can you plz tweak out the bugs ?


Regards,

HedgeFudge
 

lemondew

Well-Known Member
#5
If you are planning to be a full time trader supporting the family on trading income with Rs 50,000 trading capital, that is unrealistic expectation to say the least. A full time trader will need atleast 10 to 20 times your capital to be able to support the household on trading income assuming an average household will need 40 K per month for expenses.


10 to 20 times 50000 = 5 to 10 lacs will give you return of 40000 / month
or aprrox 5 to 10%/ month
or you can say you will get on an average 0.16%- 0.33% / day after you become a full time trader. I guess a trader who makes anything more than 15% a year is good or more than 1.25% / month is good trader. Safe returns from banks are only 9 %/ month.

Thank you for replying sir ,
Sir ,
My aim at the starting will be to build my capital . when I say 3% per day , I mean the average (including brokerage) . I'm planning on going to zerodha , so hopefully brokerage would be extremely low .
My goal is to make like 1.5k at an avg/day , even 2% i,e 1k would be good enough for me(but yes net off losses , maybe i might loss 1k on one day but make 3k some other day . I just want the avg to be 1.5k-1k) , as I want to try out my entrepreneur venture.
2ndly i need to only feed myself currently and not my family , so i will solely be living off the money i make .

Is this practical sir ?
If still its impractical , can you plz tweak out the bugs ?


Regards,

HedgeFudge
 
Last edited:
#6
@Hedgefudge13

Do you believe you can do it? If so, pull that trigger now and all your questions and a bit more will much, much change to topics you not even mentally do consider now in your most basic current "How much can I make" thinking.

Test it and you will have THE prove of what I posted here. Then let us know in six month how your journey was, in case you even reach that target of six month with trading the way you have it in mind now.

Good luck and hope to see you in six month one step higher in thinking about "What is trading in reality". :thumb: Take care / Dan :)
 
#7
@Hedgefudge13

Do you believe you can do it? If so, pull that trigger now and all your questions and a bit more will much, much change to topics you not even mentally do consider now in your most basic current "How much can I make" thinking.

Test it and you will have THE prove of what I posted here. Then let us know in six month how your journey was, in case you even reach that target of six month with trading the way you have it in mind now.

Good luck and hope to see you in six month one step higher in thinking about "What is trading in reality". :thumb: Take care / Dan :)

Thanks Dan , for the support with a little bit of sarcasm :)
Yes , I guess tyou are right . In the past 4 days I placed 7 trades and bagged in 12% in 3 days (after brokerage) , but sadly lost it on 3 other trades cause of no stop loss and lack of knowledge :(((
I guess lesson learnt , always use stop loss and i need to learn more on risk management :)

@ALL:
I guess 3% seems to be a bit toooooooo high from all the members reactions , I guess i should resort to 1% and be happy with it (or lesser).
I hope to improve my knowledge and skill and hopefully I would get support form the seniors on this forums and they guide me towards becoming a better trader.


Thanking and Regards ,

HedgeFudge
 

lemondew

Well-Known Member
#8
if you can make 1 % a day. It is 30% a month. You can put 10 lacs and make 3 lacs every month out of it or an annual package of 36 lacs/ annum.
If you dont have 10 lacs then you can ask it from your dad/family and arrange it. No need to make 3% a day. Just make 1% a day from your 50000 for 2 - 3 months and then you can expand your investment from there to earn 36 lacs /annum.....


Thanks Dan , for the support with a little bit of sarcasm :)
Yes , I guess tyou are right . In the past 4 days I placed 7 trades and bagged in 12% in 3 days (after brokerage) , but sadly lost it on 3 other trades cause of no stop loss and lack of knowledge :(((
I guess lesson learnt , always use stop loss and i need to learn more on risk management :)

@ALL:
I guess 3% seems to be a bit toooooooo high from all the members reactions , I guess i should resort to 1% and be happy with it (or lesser).
I hope to improve my knowledge and skill and hopefully I would get support form the seniors on this forums and they guide me towards becoming a better trader.


Thanking and Regards ,

HedgeFudge
 

lemondew

Well-Known Member
#9
But Sir pls try to make 1% a day continuosly for 2 cansequetive months before thinking of any expansion
 

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