Yes, he has to develop the expertise. And that is a very time consuming process, requiring much discipline and self-learning which newbies often lack. They want some simple tricks to make huge amounts overnight. So, IMO, the first thing is to wean them off the big dreams and get them to learn the 2 basics - target & stoploss.
That's why my advice to them remains the same ever... a) Trade identification, b) Timing of the actual trade, c) Setting targets and STOPLOSS. Just aim to increase your win-lose ratio and don't dream of adding zeroes to your capital overnight. For 18-24 months, don't look at the 'PROFIT', just look at your win-lose ratio.
Then they want to know which scrips give "sureshot" profits. So, instead of relating one of the thousands of equities, I point them to the index... maintain target and stoploss. With 315, my recommendation is simple - enter when the crossover comes, book profits at 100 pts
That should be good enough for a newbie, who has to also learn to wait for the next trade.
Just a matter of opinion. I have found it easier to track nifty and USDINR, than equities.
USDINR is another scrip they can trade, it requires about 2k for a lot.
That's why my advice to them remains the same ever... a) Trade identification, b) Timing of the actual trade, c) Setting targets and STOPLOSS. Just aim to increase your win-lose ratio and don't dream of adding zeroes to your capital overnight. For 18-24 months, don't look at the 'PROFIT', just look at your win-lose ratio.
Then they want to know which scrips give "sureshot" profits. So, instead of relating one of the thousands of equities, I point them to the index... maintain target and stoploss. With 315, my recommendation is simple - enter when the crossover comes, book profits at 100 pts
That should be good enough for a newbie, who has to also learn to wait for the next trade.Just a matter of opinion. I have found it easier to track nifty and USDINR, than equities.
USDINR is another scrip they can trade, it requires about 2k for a lot.
