Hi friends,
I have started this hoping to share my experience.Hope this would help new traders.
I started trading from Jan 20th.As a newcomer to the world of trading i had lots of misconception- that trading would fetch me easy money.For me all that i had to do was buy shares n sell them n take money.Also i knew i had to be 'careful not to do lossing trades'.For tat i had though al i had to do was being"careful'.
I had assumed it to be as easy as it sounds.Later on i understood that it was the biggest mistake.It was no easy game.With no plan,money magmt,risk n time magmt i end up with vry vry lil gain n huge amount of loss.
By the end of 1 month i ended up with 30% loss of my intial capital.It soared my spirits but i din give up.
I tot il take a break, n do some research.Thatz when i came across traderji n te vast knowledge in it.It proved very very useful and i started this new month with a new hope.
First of all, did some market reserch and came up with few strategies and layed out a plan which i hope to follow strictly.
Also started implementing money management which as i understand is very important for successful trading.
My capital is 1Lakh
My Plan for Day Trading
-Strictly follow the plan,not to be greedy and protect my money
-Usage of Stop Loss.Keep S.L at 1% of capital.
-Always follow the market,look out for trends.
-Do one trade at a time.At the max 2 but never more than that.
-Go for only one recovery trade per day.Max amount afford to be risked per day is 2% of capital.
-Daily Target 2500rs-3000rs.Stop when target is achieved.
Trade Timings
9:15-9:30 watch te mkt
10:30-11:30 1st trade with target of 1000
12-1 2nd trade with traget 1000
1-2:30 3rd trade with target 500-1000
Intially myt target was achieved tday but due to my greed lost 2000 and i ended up with a net gain of 700rs.
Alteast happy that din lose any money...
Hope to follow plans strictly from thursday and with the hope of achieving targets.
Hope this information is useful.
Looking forward for suggestions and advice from seniors and friends...
Happy trading
I have started this hoping to share my experience.Hope this would help new traders.
I started trading from Jan 20th.As a newcomer to the world of trading i had lots of misconception- that trading would fetch me easy money.For me all that i had to do was buy shares n sell them n take money.Also i knew i had to be 'careful not to do lossing trades'.For tat i had though al i had to do was being"careful'.
I had assumed it to be as easy as it sounds.Later on i understood that it was the biggest mistake.It was no easy game.With no plan,money magmt,risk n time magmt i end up with vry vry lil gain n huge amount of loss.
By the end of 1 month i ended up with 30% loss of my intial capital.It soared my spirits but i din give up.
I tot il take a break, n do some research.Thatz when i came across traderji n te vast knowledge in it.It proved very very useful and i started this new month with a new hope.
First of all, did some market reserch and came up with few strategies and layed out a plan which i hope to follow strictly.
Also started implementing money management which as i understand is very important for successful trading.
My capital is 1Lakh
My Plan for Day Trading
-Strictly follow the plan,not to be greedy and protect my money
-Usage of Stop Loss.Keep S.L at 1% of capital.
-Always follow the market,look out for trends.
-Do one trade at a time.At the max 2 but never more than that.
-Go for only one recovery trade per day.Max amount afford to be risked per day is 2% of capital.
-Daily Target 2500rs-3000rs.Stop when target is achieved.
Trade Timings
9:15-9:30 watch te mkt
10:30-11:30 1st trade with target of 1000
12-1 2nd trade with traget 1000
1-2:30 3rd trade with target 500-1000
Intially myt target was achieved tday but due to my greed lost 2000 and i ended up with a net gain of 700rs.
Alteast happy that din lose any money...
Hope to follow plans strictly from thursday and with the hope of achieving targets.
Hope this information is useful.
Looking forward for suggestions and advice from seniors and friends...
Happy trading
Last edited: