the trade i mentioned in my first post is not of day tradings. its purely taking position and holding it till we get a reversal. this happened sometimes within 1 day or 3 day or 1 week after the first trade position. we cut the original position and take opposite position only when the trend says that now taking opposite position is worthwhile. there is no necessity to trade daily to make 250-300 points a month in Nifty. Because i have experienced it. I believe in what i experienced myself. I dont base my belief in another persons experience.
this month we have had a bad run and just about breaking even. there are months that has given us more than 500 plus points, so one has to learn to manage the position and ride the wave allthrough. we generally keep a stoploss of 100 points from the trade entry point. sometimes it is about 150 points, depending on the market volatility and underlying sentiments.
In market one should be practical. the otherday i came across a guy in one of the chatrooms at rediffbol that he is can generate 3 lacs profit a day in trading nifty. i asked him what is the margin that i have to put up for the trade. He simply said, you take two lots. that means one needs 1 lac. but then i said its difficult to generate 3 lacs. But he was adamant at what he says. i felt that was not a practical things to happen everyday. he was charging some Rs.5000 as service charge. except that he did not mention that it was daily or monthly.
this is where one has to be practical. ofcourse day trading nifty can generate good profits, provided one is very fast and able to catch the moves correctly. that may or may not happen correctly every day with everyone of us. there are a few who can do it consistently, and there are who just cannot do it. I admire the ability of those can do it consistently. thats all i can do. but for others, it is better to be practical and see the reality and trade accordingly. I do that.
this month we have had a bad run and just about breaking even. there are months that has given us more than 500 plus points, so one has to learn to manage the position and ride the wave allthrough. we generally keep a stoploss of 100 points from the trade entry point. sometimes it is about 150 points, depending on the market volatility and underlying sentiments.
In market one should be practical. the otherday i came across a guy in one of the chatrooms at rediffbol that he is can generate 3 lacs profit a day in trading nifty. i asked him what is the margin that i have to put up for the trade. He simply said, you take two lots. that means one needs 1 lac. but then i said its difficult to generate 3 lacs. But he was adamant at what he says. i felt that was not a practical things to happen everyday. he was charging some Rs.5000 as service charge. except that he did not mention that it was daily or monthly.
this is where one has to be practical. ofcourse day trading nifty can generate good profits, provided one is very fast and able to catch the moves correctly. that may or may not happen correctly every day with everyone of us. there are a few who can do it consistently, and there are who just cannot do it. I admire the ability of those can do it consistently. thats all i can do. but for others, it is better to be practical and see the reality and trade accordingly. I do that.
