Only 45k Left

[aja]

I do not want to discourage you but I was exactly at your stage many years back...I have walked this path ,so I know how tough it is.

ST

What is the ideal solution you'd suggest me at this stage?

If you are keen on scalping,nifty options scalping could be a good idea.

Smart_trade

Nifty remains in a range tuktuk mode most of the times,so Scalping Nifty options is very tough these days.

 

[rjshem]

Is it possible to make 10Lakhs out of 45k by the end of this year or atleast by Mar 2018?
If answer is no,then I must quit

Aja all depends on u and u only do u believe u can do it if yes then u can if u believe u cant then u cant.ask urself if u came to trading for passion or instant money if instant money weighs more than passion then u cant .ask urself if u can sit calmly after a loss and take ur next without influence of ur last loss trade.if yes then u can .the road will very very tough do u have the grit ,will and determination to sail through it if yes then u can .ask urself all above and then see where u stand and decide.

 

[Smart_trade]

What is the ideal solution you'd suggest me at this stage?



Nifty remains in a range tuktuk mode most of the times,so Scalping Nifty options is very tough these days.

Nifty options scalping you can still make money but you have to wait for breakout /breakdowns and not trade all the time.

Ideal solution is take up a job and accumulate some savings,if your family is not dependent on your trading income it makes thinqs bit easy.If you are married and have your wife working, it will take care of home expenses .Markets will have trending period,sideways period,no movement period and we cannot trade the markets with the idea of making some fixed income to run our house expenses.In my case my wife was not working but she supported me in bad days fully.Without that support,it was not possible to carry on with trading.Inspite of no income, I never had thought of leaving trading even once...as I was confident that there has to be a way to crack this puzzle and I was determined to do it.

Smart_trade

 

[Subhadip]

Nifty options scalping you can still make money but you have to wait for breakout /breakdowns and not trade all the time.

Ideal solution is take up a job and accumulate some savings,if your family is not dependent on your trading income it makes thinqs bit easy.If you are married and have your wife working, it will take care of home expenses .Markets will have trending period,sideways period,no movement period and we cannot trade the markets with the idea of making some fixed income to run our house expenses.In my case my wife was not working but she supported me in bad days fully.Without that support,it was not possible to carry on with trading.Inspite of no income, I never had thought of leaving trading even once...as I was confident that there has to be a way to crack this puzzle and I was determined to do it.

Smart_trade

Great sir. That is called life time experience.

 

[rjshem]

Aja all depends on u and u only do u believe u can do it if yes then u can if u believe u cant then u cant.ask urself if u came to trading for passion or instant money if instant money weighs more than passion then u cant .ask urself if u can sit calmly after a loss and take ur next without influence of ur last loss trade.if yes then u can .the road will very very tough do u have the grit ,will and determination to sail through it if yes then u can .ask urself all above and then see where u stand and decide.

If u still believe u can and since ur treating ur remaining capital as already lost then u can try as u have nothing more to lose.ideal candidate would be crude than nifty as it moves better but u need a lot of disclipine and awareness to tame it.u need a method with entry rules exit rules at least 50 % sucess rate with avg profit in winning trades atleast 2.5x to 3x.and most important a money management plan like marimuthu where u compound a bit aggressive(see marimuthu thread 20000 to 2lakhs in a year thread).it wont be easy but very very tough and chances of u succeeding wil be very very less even marimuthu quit early as it was not going as to his liking but u can still try if ur remaining capital is insignificiant to u.

 

[vijkris]

Is it possible to make 10Lakhs out of 45k by the end of this year or atleast by Mar 2018?
If answer is no,then I must quit

1. You have to believe that you can achieve something. Then only it can be possible.

2. Previously I suggested you to open a thread in trading diary section, and start posting ur charts realtime.. This will help u in identifying the mistakes etc.
But u are not interested.. dont know why.

3. U say that for scalping there is no established rules..

4. You refuse to believe the risk management principles.. With 45k, instead of nf, crudeoil mini is a better option with respect to risk management, but u r sticking with nf/bnf only..

 

[Tuna]

As this financial month is about to wind-up,I checked out my all of P&L so far.
From my 1st trade in Stock Market to present day,I have lost 9.55 Lakhs. :annoyed:

If I consider this remaining amount is about to lose then,
I'm in 10 Lakhs loss.

Oye Aja Launde (Bro),

Ye Baat suno. I hit 13 Lakh Loss in about 3 years time early in my career. And not only lost my hard-earned money, I had even taken PL of 3-4 Lks to donate in Market to make the unlucky mark of 13.

Anyone surprised - yes this is true story of Tuna (I guess by 2010 I achieved this killing milestone ).

Then it was like - either stop this nonsense and focus on the 9 to 6 job.

2011 end, I was in US for 3-4 years in a client location, got a time advantage to see market during off hours. Realised what is all around over internet (Free Gyan on RR, Winrate, Psy Ops) actually holds good. Then someone , an excellent trader (from my office) came across my path - who told me this simple thing -

"Dear X,
If you cannot become profitable with just 1 Lot of Index (for shares, lets assume 5 shares) , how the hell you will profit on a monthly basis. just by trying with multiple Lot you are making it worse. Learning the game on paper is not that difficult, doing it what matters. First earn with 1 Lot, consistently before risking anymore money."

Then the Bombay Bro - whom I met in a trading workshop I told in of my post - he gave the simple recipe

1. Always with daily trend
2. Easy to trade higher timeframe (daily, 4 hourly)
3. Avoid volatile scrip and stocks stick to Nifty (BNF was my killer till then, all wants fast money)


The excel you see on "2017 Nifty" Thread was actually what he gave me (adjusted to current lot size now).

He asked me to achieve yearly target what was there on the excel. I managed that for the first time in 2012 (2011 was break-even , not in loss). 2013 was smooth. Recovered all my loss in 2014. And killed all those b@stard$ in market in last 3 years who made me cry in first 4 years, rip them royally – and probably earned as much as .. leave it, not important.

My recipe (for you) is this.

1. Don’t trade stocks for Intra - deal in cash , when you have spare cash
2. Arrange about total 1 Lakh, current cash will not hold good for my plan
3. Download the excel (or prepare one) - you see on Nifty 2017 thread
4. Dont trade more than 1 Lot/ 1Lakh Nifty current month Fut

5. All your entry will be after a Pullback, near dynamic support (20,50,100 EMA) or fix pivot point confluence (if you are comfortable with identifying Swing points or Channels whatever you like - follow that)

6. Your only enemy in the market (whom you have to rob) - are the contra who are pushing the market against the daily trend, find any of your systems which follow the trend ( I am sure you have quite a few)

7. Once monthly target is achieved - Please stay away from the market

8. Avoid position before big events

9. Dont trade options (as of now)

10. Each time you deviate from any of the step (1 to 9), get back to track - This is most important !!

Try this, maintain a journal. If you cannot recover your loss in 2 years (and turn profitable) - repeat the same thing.

I believe it is easy for a new learner to do this. Because at our stage, when we already know quite a few thing (but unprofitable), it takes time to unlearn first (that was my challenge as well) and learn it.
Don’t give up. And don’t drive in 5th gear till you learn to drive.



P.S- Avoiding contra & The Monkey Dance of Mind- ("Arre Bahut upad aa gaya becho - during uptrend) - are the most difficult thing to control. I probably came close to mastering this in 2017. last year there were quite a few mistakes.

Hope it helps.

This is doable - keep it simple.

 

[vivektrader]

What is the ideal solution you'd suggest me at this stage?



Nifty remains in a range tuktuk mode most of the times,so Scalping Nifty options is very tough these days.

Bhai, at least for now forget about those 10lakhs (temporarily), I forgot mine. There are enough mentors and material in traderji, try to build a system, that should have clarity about entry, adds,exits,trade management, risk management and money management. After you frame your rules encompassing all of above, start trading with discipline in single digit quantities in cash market (from not more than 7-8scrips) and try to win a 60day challenge. Also, don't only keep intraday as the only mode of trading, also keep some good scripts in cash market for short hold (say 5%move via swing or positional), these additional modes will reduce your stress and encourage you to hold profitable positions longer. Coz ultimately its your sitting (over a profitable position) rather than your thinking that will make you big money.
Now, about those remaining 45K, if you are desperate to use them, buy some good stocks (say Bajaj Finance) out of them and keep them for 5years.
You are not alone, most traders are suffering or have suffered like you.
Trade well
Don't lose heart

Vivek

 

[vivektrader]

Also, consider closing this negative thread to start a new one, I have a title for the new one: "learning and turning a new leaf"

Vivek

 

[vijkris]

Also, consider closing this negative thread to start a new one, I have a title for the new one: "learning and turning a new leaf"

Vivek

:thumb::thumb::thumb: