Scaling Up Your Trading Business
- Thread starter Nikhil Dogra
- Start date
I am attaching a trading business plan template which i came across few years back. It can serve as a blue print for putting your plan into action.
My Business Plan:-
Score -
No Trading : 1 to 4
Defensive Trading : 5 -6 AND 9-10
Optimal Trading: 7-8
Remember it is unrealistic expectations which results in trading losses where we attempt to make too much too soon eventually leading to a blow-up. My expectation are 36% on INR 100000 i.e. INR 36000. This thread is intended to scale up from 1 Lot to 5 Lots objectively hence we may "end up" reaching & beating our 36% target but this figure is a realistic figure.
My Business Plan:-
- I want to be a trader because I want to supply liquidity in order to maintain “free markets”. Markets are the only avenue on the planet where our rewards are directly proportional to our skills, efforts and hard work. My primary objective in wanting to be a trader is to provide a “service” to financial markets participants by accepting risk on their behalf with the expectation of being rewarded (consistently profitable trader) for the “services” rendered by ensuring fair prices reflecting true demand & supply dynamics. My secondary objective is to provide for my family and enjoy freedom which results from being financially independent. These objectives are important to me because they provide purpose and direction to my life and enable me to lead a more balanced one. I believe I can achieve my objectives because my name is Nikhil Dogra
- I am a systematic bionic discretionary trader and my trading style is moderate & market neutral which makes me suitable to capitalize order flow trends at relatively less risk intraday. I understand that I cannot predict the future and I accept that I cannot control the markets. However, I can control myself, which I will do by adhering to 1% & 4% risk management rule
- My primary strength is that my mindset is dynamic and flexible thereby making me market neutral with the ability to concentrate on “present” order flow dynamics with derivative products with “in-built risk mechanisms”. This contributes to ‘my edge’ and helps me towards my goal of being consistently profitable in the markets. My secondary strength is my ability to control my mind because of the meditation classes I attend 5 times and week in order to concur my primary weakness.
- My primary weakness is also interconnected with my “second strength” i.e. I have above average control over my mind but amidst market action I can be susceptible to anxiety due to improper & fast breathing which can occasionally result in violation of trading plan. My secondary weakness is procrastination and riding losing trades for a longer duration especially when I trade “outright”
- My financial targets are to achieve a return of 36% per year on INR 100000, which equates to an annual income of INR 36000 without the drawdown on my account exceeding a maximum of 20%. This equates to an average monthly income of INR 3000 , an average weekly income of INR 750 and an average daily income of INR 150
- My monthly trading goal is to make 3% return without having a drawdown exceeding 4%. When I achieve this, my reward will be a new electronic music album.
- My weekly trading goal is to trade every day of the week in accordance with my trading plan. This will entail taking my stops instantly, sticking to my risk and money management When I achieve this goal I will reward myself by viewing English premier league on the big HD screen instead of normal HD screen.
- My daily trading goal is to be confident with self-discipline & immaculate work ethic which, in turn, will ensure that my weekly, monthly and annual goals are met.
- My maximum risk in the market will not exceed a combined total of 4% of my capital at any one time.
- I will only trade on days when my morning self-evaluation score is 5 or above
- How do I feel physically? A. Feeling ill = 0 B. Feeling average = 1 C. Feeling excellent = 2
- How did I trade yesterday? A. Lost money = 0 B. Both made and lost money or didn’t trade = 1 C. Made money = 2
- Have I done my trade planning this morning? A. Not prepared = 0 B. Middling = 1 C. Well prepared = 2
- How is my mood? A. Poor = 0 B. Average = 1 C. Great = 2
- How busy is my schedule today? A. Very busy = 0 B. Normally busy = 1 C. Pretty open = 2
Score -
No Trading : 1 to 4
Defensive Trading : 5 -6 AND 9-10
Optimal Trading: 7-8
Remember it is unrealistic expectations which results in trading losses where we attempt to make too much too soon eventually leading to a blow-up. My expectation are 36% on INR 100000 i.e. INR 36000. This thread is intended to scale up from 1 Lot to 5 Lots objectively hence we may "end up" reaching & beating our 36% target but this figure is a realistic figure.
Well i am excited and nervous at this challenge but darr ke aage jeet hai
I will be putting up INR 100000 by next week (most probably by next Wednesday, waiting for payout from my full service broker through which i sold some shares from my demat) , for now i have only INR 70,000 transferred to the trading a/c.
Nice thread.
Seems to me that you are brilliant in trading.
Your mental back ground perfectly suits for big player like.( You may be a big player in disguise).
Will keep watch on you thread.
One thing is not clear....why algo trading?
Who are "we" u have mentioned when u we're telling about algo traders meet
Seems to me that you are brilliant in trading.
Your mental back ground perfectly suits for big player like.( You may be a big player in disguise).
Will keep watch on you thread.
One thing is not clear....why algo trading?
Who are "we" u have mentioned when u we're telling about algo traders meet
Searching Google:
Found this:
https://www.nikhildogra.com/single-post/2017/06/15/Market-wisdom---a-realistic-point-of-view
Are you a GURU?
Found this:
https://www.nikhildogra.com/single-post/2017/06/15/Market-wisdom---a-realistic-point-of-view
Are you a GURU?
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