To begin – I must again say that “Profit is the sole objective of trading.”
It’s not worth giving time to any strategy/technique if one is not able to see profits in ledger book of trading account. Whatever methods one is using it’s highly demotivating if one is not able to realize profits from it.
After personally training over 600 people in the span of last 3 years I can say that there is nothing that should deter anyone from making consistent daily profits from trading.
Whatever be your background, whatever the knowledge or experience, whatever your language of understanding, whatever be your age (anyone above 16 years of age) can comfortably make daily income from intraday trading.
Have trained (all online) over 68 Homemakers who are successfully making best use of their day time and earning handsomely from trading. And they had absolutely zero knowledge of Stock markets or trading.
In current year over 150 first timers out of our course subscribers are going to file their Income Tax Returns with major income from Trading.
The cash flow from trading has been so steady and consistent that I get so many messages from the subscribers that they are resigning from their regular jobs to pursue trading as their full time business.
I have been recommending that everyone should and must start trading (of course not on tips/advisory services, but after thorough training and mentoring).
Everything under the Sun needs to evolve over the period of time so as to adapt to the changing environment and conditions.
The old and traditional methods of trading too needed to evolve with rapid innovation in technology.
That’s how we have designed a completely innovative methodology of trading involving technological tools and simple Apps which gives us edge in trading.
In this post I want to share some basic yet very important elements which every trader must follow in order to succeed in intraday trading:
- Point 1 : Set a definite Profit target for the day (depending on the trading capital available) even before the market opening. As soon as the daily target is achieved, one should log out of trading account. Get your eyes off the market for rest of the day. It’s is important to focus on the net Profit objective and fix your mindset towards realizing that profit. Over-trading and continuous urge of looking at markets will create fatigue in your mind and your trading decisions get impacted with it. If you want to increase your daily target then set it for next day. In our trading methodology we are ready with stock watchlist, net profit target, position sizing etc even before the market opening. One should be able to trade calmly and patiently irrespective of the market conditions.
- Point 2 : Stick to your original trading methodology, rules and the trade management process that you have been following. Do not change them randomly between the trades. There should not be any random trades based on personal assumption or gut feeling. Markets itself tells you what to do. One who tries to predict the market is doom to lose. “In intraday trading one needs to move alongside the markets not ahead of it not behind it.”
In other words “When it comes to trading, do not trust even your mind”, Trust only your “Eyes” i.e “Trade as you see, Not as you Think.”
- Point 3: Pull out Part of profits from your trading account on weekly basis. This is important that you withdraw profits regularly and use it for your expenses and buying some physical hard assets like gold, plot, properties etc or even long-term investments in dividend paying stocks. Eg: if you are making Rs.20000 every week on your principal trading capital, then you should be withdrawing Rs.10000 out of it to your savings account for utilization. It’s good to enjoy fruits of your work. While a part of your profits keeps getting added to your trading capital, which will help in increasing your position size of trades eventually, increasing your daily profits steadily.
Let me tell how I am utilizing my trading profits – I have set a target of creating passive income stream such that in next 3-5 years my income from Rental Properties, Dividends from stocks and FD returns should be almost 50 % of my current Profits from trading. Even my wife who trades from her separate account is currently Paying EMIs for 1 flat and 1 shop from her trading profits. All the people who have been associated with me since 3 years are encouraged to make better use of their intraday trading profits.
If there are no visible, achievable goals in our mind, then we just play blindly and randomly which is very dangerous.
“I personally do not measure success of intraday trading by looking at the ledger book of trading account, but for me the real success is visible when I have converted those profits into hard assets for myself.”
- Point 4 : Involve one of your family members in the trading process. Involving means you should be sharing your daily performance with them. The targets that you have set and how much of it are your able to achieve etc. If you keep it with yourself, you will never be honest with yourself. Believe me sharing your trading performance with your family member will bring improvements to your trading performance. I have counselled and trained over 45 couples on getting consistent with their trading results. If you are married, I recommend both husband and wife to trade. And capital requirement is also not much. Both should trade from separate accounts with starting capital of Rs.10K-20K. Others who are using our trading methodology successfully within a family are Father-sons, Mother-Daughters, Father-daughters, Brothers, and Sisters. One such story that I especially like to share is of a father who enrolled in our course and also registered his married daughter who was staying in different state. They have been sharing their trading performance with each other. His daughters earning have reached 1.25 lacs per month and she has mastered the BankNifty Trading setup to near perfection. Her Daily Trading Plan includes 1 BankNifty, 1 Stock Trades in the morning and 1 Silver/Crudeoil Trade in the evening.
Crux of the matter is that anyone and everyone can quickly learn our practical and result-oriented trading methodology and imbibe it into the daily rituals.
Moreover there is no hard-work involved in it, just smart-work.
- Point 5 : Start from small, and grow it big. Whenever you learn any new strategy, use it on low capital. Rectify/correct all the problems associated with its implementation. Clear all your doubts reduce the occurrence of minor mistakes; before increasing the trading capital and position sizes.
If one is not able to maintain consistency on position size of 10/50 quantities, then no way s/he going to gain consistency on 500/1000 quantities.
Hence whenever people ask me how much they are going to make with capital of Rs.50000 / 1 lac or 5 lac, I just tell them it depends on how much consistency you are able to attend on capital of Rs.5000, 10000 or Rs.20000.
You can see from lot of testimonials and videos, how I have been forcing people to first implement strategies on capital of Rs.10K.
Gain consistency, accuracy and confidence on low capital and then sky is the limit for you.
Once a strong foundation is build up, believe me there is no looking back. The skills will just get honed to near perfection as you get habituated to using it on daily basis.
I hear all kinds of reasons/excuses on why they are not able to start trading. Learning and mentoring part has been sorted out by Tradvantage Academy.
The other big excuse has been “lack of trading capital”.
If you read other blog posts from me or regular emails from me, then one thing that I have always maintained is “you do not require large capital”, “neither you require infrastructure like laptop/computer or software”.
A simple Android smartphone costing Rs.3500-4000 with 4G connection and a trading capital of Rs.10000 is what all is required.
These days I see people who are not thinking twice before indulging in expensive mobile phones costing over 15K-25K and other luxuries items. If one can resist expensive spending for just 2 months and invest time and money in acquiring right knowledge and skills it will surely enhance one’s earnings tremendously. One will be able to pay for every luxury thereafter.
Note: If you have not yet given any serious thoughts on adding trading as an important activity in your daily routine, then I suggest this is the right time to do so. Also there is big profit opportunity coming our way in next 5 months i.e the General Elections wherein we have opportunity to make at least 200-300% on the trades. Everyone should be well prepared to take benefits from such big trading opportunities.