Way back 1992......
- nobody have facility to watch each and every movement of the Market....
- we use to get prices in the market hours, if we have contact in the "Trading Floor"..otherwise only in the evening we will get script wise price movement information displayed in the Respective Exchanges.
- Settlements are in one week time frame...Wednesday to Tuesday..
That time nobody has bothered about the movement of the script each and every second...so...our trading emotions are controlled, no Fear and No Panic....
No concept of daily trading.....
What is the Situation now.....
So many tools / concepts / inventions / methods to some how make money each and every minute in the market.....
But...reality you will go mad / make your self fool / you will loose your confident level / affect you social activity and finally you don't know what you are eating....finally this will be like Diabetes...you will never live without Insulin or Day Trading, bad for your personal life..
But, nothing will work out......never ever make money......in the day trading.....
Everybody is thinking why we should work for somebody else....with a capital of Rs.50000/- easily we can make Rs.20000/- or Rs.25000/- per month...with intraday.....
But, the fact is that you will loose your capital 101% if you do intraday trade...without backup.....
Conclusion
1. If you want to make consistent money......avoid day trading.....trade when you get opportunity and convert that into trading opportunity.
2. We say don't trade every day....when you get entry "Do It".
2. Don't quit the job and don't try for trading.
3. Don't come to market to make quick money.
4. Don't trade without learning with proper guide
5. Don't trade with multiple logics....use simple logics and you can win..
6. We are not saying long term
7. We are not saying medium term
8. We are not saying Fundamental Analysis
9. We are saying only trade on "OPPORTUNITY TRADE"
What is the opportunity trade.....Study the below Chart...of Techmahindra...entry is on 19th February 2015 short at 2878....
Both the levels confirms sell.....till 18th no short in Tech Mahindra...when it occurs on 19th, we should initiate short and within a day or two our target or s/l will hit.... Because we are not seeing 5 minutes or 1 minute or any news......we know Entry Point / Stop Loss and Target....so...no need to panic after taking trade...
This way we should wait and do homework for opportunity...
Even monthly if we will get 6 or 7 good trades...enough to make good money....
Take Care...
