Re: This guy is consistantly making profits from scalping
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Re: This guys is consistantly making profits from scalping
Yes. It is possible to make $400 a day. I have lived and worked in the U.S. I have also been with many prop firms. I have seen guys making a few thousand dollars a day consistently. So I know that this 400 is peanuts when compared to say 3000$$ a day or more. I personally knew a guy who made $70,000 on the first trading day of last year. But then he also loses big on down days. But this guy over all is a profitable trader and thats what counts. It all depends on how much capital you have, the leverage used in trading, instrument traded, risk taken etc. These are only some of the parameters. In India haven't you guys heard of Rakesh Jumjumwala who has taken 5000 Rupees and made it into 5000 crores? The power of compounding is amazing. If some body can keep doubling the money then it is only a matter of time before they get in the so called big league.
Yes. It is possible to make $400 a day. I have lived and worked in the U.S. I have also been with many prop firms. I have seen guys making a few thousand dollars a day consistently. So I know that this 400 is peanuts when compared to say 3000$$ a day or more. I personally knew a guy who made $70,000 on the first trading day of last year. But then he also loses big on down days. But this guy over all is a profitable trader and thats what counts. It all depends on how much capital you have, the leverage used in trading, instrument traded, risk taken etc. These are only some of the parameters. In India haven't you guys heard of Rakesh Jumjumwala who has taken 5000 Rupees and made it into 5000 crores? The power of compounding is amazing. If some body can keep doubling the money then it is only a matter of time before they get in the so called big league.
Re: This guys is consistantly making profits from scalping
So many egos around.... I'm surprised the human race didn't die out yet. Look fellas, take it easy. Only want to discuss.
BTW, I'm not associated with the guy. Just want to discuss so we can discover his special trading system
Besides, shouldn't daytraders help daytraders. Sure, even if I haven't got a clue and I want to make money and I put my money to risk, I'm sure someone else will take my loss for profits. That way, we have a healthy economy and at least the money is moving then everyone can get fat of profits.
having said that, let me get back to the orignal post and see if I get some educated answers:
"This guy only trades two stocks AAPL and RIMM. If I'm trading in a different country, he advises me to find very popular stocks (highly active and traded), high volume, very tight spreads (apple usually has only 1 cent spread).
So what stocks do you think, according to his criteria are good for nifty?"
So many egos around.... I'm surprised the human race didn't die out yet. Look fellas, take it easy. Only want to discuss.
BTW, I'm not associated with the guy. Just want to discuss so we can discover his special trading system
Besides, shouldn't daytraders help daytraders. Sure, even if I haven't got a clue and I want to make money and I put my money to risk, I'm sure someone else will take my loss for profits. That way, we have a healthy economy and at least the money is moving then everyone can get fat of profits.
having said that, let me get back to the orignal post and see if I get some educated answers:
"This guy only trades two stocks AAPL and RIMM. If I'm trading in a different country, he advises me to find very popular stocks (highly active and traded), high volume, very tight spreads (apple usually has only 1 cent spread).
So what stocks do you think, according to his criteria are good for nifty?"
Re: This guys is consistantly making profits from scalping
If I had a workable system, I would sell videos too
Just thinking... if somebody could make that kind of money why would he be selling videos.
I recently read an intresting statistic given by ICICI direct. That you take all their intraday calls (10000) margin for each and you would have made a huge sum - in lakhs. I actually took some of those calls and consistently lost money. Then I managed to get intraday data to check those calls. Found that you can almost never manage to get in at their entry price. By the time you get in price is close to Target 1. Then it comes down and you get an exit instruction slightly above/below their entry price for long/short. So technically it is a profitable call but you are in a loss.
Dont get me wrong, I am not saying that panda's strategy is not workable. Just highlighting the need to be cautious.
I recently read an intresting statistic given by ICICI direct. That you take all their intraday calls (10000) margin for each and you would have made a huge sum - in lakhs. I actually took some of those calls and consistently lost money. Then I managed to get intraday data to check those calls. Found that you can almost never manage to get in at their entry price. By the time you get in price is close to Target 1. Then it comes down and you get an exit instruction slightly above/below their entry price for long/short. So technically it is a profitable call but you are in a loss.
Dont get me wrong, I am not saying that panda's strategy is not workable. Just highlighting the need to be cautious.
Re: This guys is consistantly making profits from scalping
Hi Traderwiz,
I'm happy with even USD200 a day as long the risk is manageable. A balance of fear and greed is my philosophy for now. I could live, pay my rent, buy a car maybe even save a little money.
Sure, everyone wants to make it big but those days are long and gone baby
Hi Traderwiz,
I'm happy with even USD200 a day as long the risk is manageable. A balance of fear and greed is my philosophy for now. I could live, pay my rent, buy a car maybe even save a little money.
Sure, everyone wants to make it big but those days are long and gone baby
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