Thanks Hari,
You really have nice idea ...I am a bit greedy when it comes to profit but believe me I will follow your instructions..
Kindly clear my one doubt , if our one target is achieved shoule we wait for next target suppose if we are carring only one lot or book the profit.
What I do I keep the trailing stoploss of 5 points more from my purchasing price so that i do not get hurt by brokerage then if my profit moves to 30 points I book it, but this is not systamatic this is on my own appetite , can you plz tell me the profit booking strategy.
I shall be thankful to you.
i can understand your problem...you are looking for an correct exit point...
exit point depends on u..we are not technical experts so the best way to choose the exit is our own target..
first before enter your trade plan before the market how much u have money and how much u are ready to risk and what should be your earning tht day..
daily plan just 3% profit..
3% compounded daily leads to more than 100% a month..
let me explain u with a example..
ill tel u my own technique i use..
i have never traded in futures...i do trade in equities..
my total capital is just 10 k..
I use 7.5 k for my trading..but i use my limit the broker provide me..
they provide me ten times limit..
so my total available trading capacity is 75k
now in that limit i use only 65 k..
now 5% of 7.5k is 375...
350 is 3.75% of my total capital 10k..
so my daily target is 375..
i do only single trade..
now lets calculate brokerage...total trading capacity is 65000...my brokerage is 0.03%..by adding all other tax and charges both the side the toal brokerage is 0.1%..
so brokerage is 65..
so my target shoud be 375+65=440
before i enter trade i used to calculate my target price from my buy price..wen i reach my target price i exit the trade...according to our signal u can surely reach the target i mentioned..3.75%
today i posted both the lic and infosys view with that target points only..i dint trade..i just watched market..our target reached..
so make your plan and home work before and after the market..market wil never wait for us..v need to prepare earlier..during market if u plan sure it wil end in huge loss..u should act fast during market..
u reached 30 points both days..so u earned 600 in both day..if its nifty its 1500 each day..
but dont be greedy..u shoud be more ready to book partial profit since nifty wil travel flat some days...those days ull face loss due to brokerage..
do one trade one day with confidenc..only morning session is suitable for intraday..dont enter market after 12.30pm if u plan to trade intraday...
u should also be ready to loose your money..it wil teach u lessons..share market is the best teacher..be ready to pay it what it asks..it wil return u more that u expect when u are experienced..:thumb::thumb::thumb:
