re: Day trading Nifty & Banknifty Futures
I remember having read one article by a very successful scalper and daytrader in US markets. His mother was working in a brokers office and as a child he used to go to her office and used to see those young traders with good clothes and style and he always used to think that trading must be pretty easy...just come at the market open...trade for next few hours and then you have all the money and time to enjoy life after the market ,buy expensive cars, perfumes etc.
After he became a trader himself, he knew what hard work goes into trading . He says he never drinks alcoholic drinks if there is trading the next day...but he as a member of group of successful traders gets invitation for lots of parties where all his trader friends used to drink, stay awake till midnight and next day come late to the market with heavy head,hangover, incomplete sleep , acidity and their whole day is wasted. Where as this trader used to go to the parties, with a drink in his hand he will mingle with his friends, eat some salads and simple food and at 10:30 he would throw his drink in the wash basin and go home and go to sleep. This helps him to mix with his friends but he says trading is a serious business and I have to be in the market with full concentration and fitness next day and he used to be fresh and fit where as his trader friends still recovering from headache and hangover and loss of sleep.
The above speaks a lot about that trader and his attitude towards his profession ie trading.
Smart_trade