This was in my mind when I started this thread and as the title suggests I was indeed encouraged by Raynor. This was my calculation:
Approx total margine for 75 Nifty (1 lot)= 50000/-
If 200 points is achieved we Net a gain of : 75*200=15000
This amounts to 30% return.
I have kept a corpus of Rs.200000/- To get 30% min. return on it I need to make a profit of 200000*30% = Rs.60000/- i.e Rs.5000 per month and with avg 20 trading session per month it comes to 5000/20=Rs.250 per day!
SO
My minimum target (Net) on Day basis is Rs.250.00 , weekly min. 1250/- Monthly and annual already mentioned.
If I am able to do it consistently for 6 months, I will infuse the profits generated and some more capital. Shall review every 6 months and hope to increase my capital to max Rs.25L in a few years. I strongly feel that generating returns on small capital is easier than on bigger amounts as the mental pressure and greed and fear become more prominent and affects the out come. Though I also feel that with the discipline I might gather during my slow increase in my capital involvement may help me over come greed fear and other negative aspects and help me maintain discipline.
With market favouring me in initial stages has boosted my morale and the returns on % basis are spectacular when comapred to what I was set to achieve!
With todays profit in Bharat forge, my Capital of two lakhs has swelled by Rs.15500/- a gain in last 30 days! In % terms this is ~>80% !
Though I am not getting carried away. Keeping myself focused.