Dave : My Trading Journal

[Dave]

Hello All,
First of all, let me Thank the admin here, and all you wonderful people who are making this forum beautiful day by day adding tips, learning resource, daily experiences and what not. Hat offs to all you guys.

I am glad to find this community. I am new to trading platform. And I am going to start trade from tomorrow i:e 12th June 2012. I would be posting my daily journals here in this forum. I would appreciate any suggestion/advice from all you people. Everyone are welcome to express your view.

And lastly, I wish to have a bright future to myself and also to all my friends here. Don't know what is in store for me in my future trades, but with all you amazing people around, it will surely be one enjoyable journey.

Thank you
Dave

 

[Dave]

My Initial Capital is 5000.
May be it is a small amount to start, But there is long personal story behind this total.
Let that be, Just wanted to know, Is it a too small amount to start any kind of trades?

Target for Month : Anything above 5000 is well appreciated

 

[gambler]

Best of luck!!!!

My Initial Capital is 5000.
May be it is a small amount to start, But there is long personal story behind this total.
Let that be, Just wanted to know, Is it a too small amount to start any kind of trades?

Target for Month : Anything above 5000 is well appreciated

 

[onlinegtrash]

if this is your first trading experience, don't be surprised if 5k goes into smokes in no time.

To say something on positive note, trade with absolutely minimum position size until you figure out your style of trading. (Fix the method first then shoot for profits unlike most traders in economic graveyard!)

 

[timepass]

5000 is workable.

 

[soft_trader]

My Initial Capital is 5000.
May be it is a small amount to start, But there is long personal story behind this total.
Let that be, Just wanted to know, Is it a too small amount to start any kind of trades?

Target for Month : Anything above 5000 is well appreciated

You are a newbie. you can learn only by your own actions. Trading is a game which can only be learnt through trading.

Your capital is 5K, which is OK for a newbie in the market. Your capital is not the problem, the problem is your target. You can't expect your capital to be doubled within a month.

Trading is a business like any other business. People become doctors, lawyers, engineers, politicians etc. In the same way, some people become stock market traders. It is just one more profession. Say for example: When a businessman opens a dry-cleaning shop or say a mobile shop, does he expects 100% return in a month?

The answer is absolutely not.

But when a person starts out as a stock market trader, he considers such stellar amount of returns per month as his birth right. He takes large risk and sky-high leverage, since he expects to earn large amounts from a small investment. The trader should have expectations of returns which is similar to other business entities.

If a person opens a small shop by Rs. 1lakh. Suppose he says, my family expenses per month is Rs. 30K, therefore I expect at least Rs. 40K per month to meet my expenses and to get a return on my capital. After all, I am working full-time so I expect a salary of Rs. 30K and remaining Rs. 10K as the return on my investment. But wait, no shopkeeper will expect Rs. 40K return on an investment of Rs. 100K.

Yet when the same person becomes a stock market trader he demands Rs. 40K to be easily earned. Such returns will not materialise.

You must have realistic expectations.

Best of luck for your trading.:thumb:

 

[SavantGarde]

You are a newbie. you can learn only by your own actions. Trading is a game which can only be learnt through trading.

Your capital is 5K, which is OK for a newbie in the market. Your capital is not the problem, the problem is your target. You can't expect your capital to be doubled within a month.

Trading is a business like any other business. People become doctors, lawyers, engineers, politicians etc. In the same way, some people become stock market traders. It is just one more profession. Say for example: When a businessman opens a dry-cleaning shop or say a mobile shop, does he expects 100% return in a month?

The answer is absolutely not.

But when a person starts out as a stock market trader, he considers such stellar amount of returns per month as his birth right. He takes large risk and sky-high leverage, since he expects to earn large amounts from a small investment. The trader should have expectations of returns which is similar to other business entities.

If a person opens a small shop by Rs. 1lakh. Suppose he says, my family expenses per month is Rs. 30K, therefore I expect at least Rs. 40K per month to meet my expenses and to get a return on my capital. After all, I am working full-time so I expect a salary of Rs. 30K and remaining Rs. 10K as the return on my investment. But wait, no shopkeeper will expect Rs. 40K return on an investment of Rs. 100K.

Yet when the same person becomes a stock market trader he demands Rs. 40K to be easily earned. Such returns will not materialise.

You must have realistic expectations.

Best of luck for your trading.:thumb:

Do not think he is a newbie....since he mentions long personal history regarding 5000 as starting capital....!!!

Also, anything above 5000, was perhaps alluding to having a positive month ..not necessarily doubling the money...!!!

SG

 

[chemswovan]

good start

 

[Dave]

You are a newbie. you can learn only by your own actions. Trading is a game which can only be learnt through trading.

Your capital is 5K, which is OK for a newbie in the market. Your capital is not the problem, the problem is your target. You can't expect your capital to be doubled within a month.

Trading is a business like any other business. People become doctors, lawyers, engineers, politicians etc. In the same way, some people become stock market traders. It is just one more profession. Say for example: When a businessman opens a dry-cleaning shop or say a mobile shop, does he expects 100% return in a month?

The answer is absolutely not.

But when a person starts out as a stock market trader, he considers such stellar amount of returns per month as his birth right. He takes large risk and sky-high leverage, since he expects to earn large amounts from a small investment. The trader should have expectations of returns which is similar to other business entities.

If a person opens a small shop by Rs. 1lakh. Suppose he says, my family expenses per month is Rs. 30K, therefore I expect at least Rs. 40K per month to meet my expenses and to get a return on my capital. After all, I am working full-time so I expect a salary of Rs. 30K and remaining Rs. 10K as the return on my investment. But wait, no shopkeeper will expect Rs. 40K return on an investment of Rs. 100K.

Yet when the same person becomes a stock market trader he demands Rs. 40K to be easily earned. Such returns will not materialise.

You must have realistic expectations.

Best of luck for your trading.:thumb:

Hello SoftTrader. Thank you for your valuable suggestions. Here on target i meant, that at the end of the month my capital should be more than 5000, i:e continuing the trade without making any loss. I did not mean to double my capital in a month.

 

[soft_trader]

Hello SoftTrader. Thank you for your valuable suggestions. Here on target i meant, that at the end of the month my capital should be more than 5000, i:e continuing the trade without making any loss. I did not mean to double my capital in a month.

Sorry. I understood your words wrongly. I thought that you want your profit per month as 5K or above. Sorry my mistake.