My Trading Challenge - Double the Capital in 3 Months

[sunbim31]

Like any business , your goals should be

S: Specific
M:Measurable
A:Achievable
R:Realistic
T: Time bound

ie, SMART

try to gain Rs 1000 per day consistently for the next 240 trading days( or adjust the amount as per ur ability based on SMART).On achieving that take the next step.
Please remember what SMART_TRADE has mentioned in the earlier post always.

Regards

 

[Neo_trader]

My Current Capital - 300000

 

[Neo_trader]

Some sample trades:

Please note this is not my method. This method was invented and shared by ST da in some other forum. I have made small tweaks to that method. I'm still in the process of formulating the rules. I will post them once I see some success in coming months.

 

[Neo_trader]

My weekly target for this week is - 30000, 10% of my Capital. So I need to gain 6K daily profit for the next 5 days.

What is the better approach, to take all trades and get whatever market gives and trade with fixed target and keep quite once the daily target is met. It happened for me so many times that initial trades gave some profit and extra trades in the later half of the day took all the gains and gave additional losses.

anyway I have pre decided risk per trade, i.e 10K per trade. Daily risk limit also 10K. This risk limit will allow me to trade for 30 days with all the days ending with losses. If i follow my strategy with discipline i'll reach my target.. Letz c how it goes..

 

[mravi]

My weekly target for this week is - 30000, 10% of my Capital. So I need to gain 6K daily profit for the next 5 days.

What is the better approach, to take all trades and get whatever market gives and trade with fixed target and keep quite once the daily target is met. It happened for me so many times that initial trades gave some profit and extra trades in the later half of the day took all the gains and gave additional losses.

Keeping targets will get us into more trouble I feel, because my experience says, keeping targets will create additional stress, and hamper our decision making process. Take what market gives is the best approach - 5K gain is also a gain.


Also, can you please provide the link where I can read ST's method - you posted BANKNIFTY, had difficulty understanding it.

 

[manoharpillai]

I have completed 2 weeks but could not gain a penny. Lost all of my gains on 13th Friday.

My Capital on EOD 12th April - 4.2L.
MY Capital on EOD 13th April - 3L.

Lost 1.2L in a single day. Shorted 1500 BNF Puts @99 (10200). Had to cover them at 190. Huge loss of 136500 in a single trade. Options never worked for me. Starting the game again. Target is same - 6L by end of June. I will try to be disciplined this time

Please read from the begging till the end and it's for all of us who are connected with stock market & trading business..

http://www.decisionpoint.com/tacourse/TradeMistakes.html

 

[Neo_trader]

Bought 200 BNF@10345. Sold@10400. Profit - 10K.
Reason for longs - Double bottom kind of formation with support at 10300. Initial SL was@10295 (Risk - 10K).

 

[SavantGarde]

Neo....Your position sizing needs re-working.... and pretty quick too...or else you will get into a hole which is 100 feet deep.... even if you manage to claw back up by 10 feet....you will still be in the hole....!!!

Trading or Targets should not be regarded as some kind of challenge....just look to do the right thing....and rest of the equation will fall in their place...in due time...!!!

SG

 

[Sultaan]

Neo: Dangerous plays, the least i beg u to do is keep a stop loss on your capital, say if u loose 50% then go back to the drawing board etc etc

 

[Neo_trader]

Neo....Your position sizing needs re-working.... and pretty quick too...or else you will get into a hole which is 100 feet deep.... even if you manage to claw back up by 10 feet....you will still be in the hole....!!!

Trading or Targets should not be regarded as some kind of challenge....just look to do the right thing....and rest of the equation will fall in their place...in due time...!!!

SG

Hi SG, you mean I cannot take risk of 3.33% per trade.. I'm comfortable with my risk of 10K per trade.. may be my exits are not correct.. Let me know if i should reduce the risk to standard value of 2%.. Thanks..