Hi Vishwa,
100 k from 15 k is a bit aggressive with stocks. I started with 10k and currently i am on 21 k and it took me 3 months and i trade aggresively on Nifty weekly options. I generally have 1 red day with in 5 trading sessions. Happy to discuss trading strategies
Your are doing scalping intraday and wat was ur strategy to enter into this trade is it indicators crossovers or price action.And 15k to 1lakh it’s difficult I’m not saying it’s impossible but it’s tough.
Yes, I am doing Intraday Scalping (sort of), where the average trade horizon is around 30 Minutes.
I am using multiple advanced concepts that I learnt in my CMT (Chartered Market Technician) curriculum. To explain it in very easy language, I look for Over-Extended Large Cap Stocks in multiple time frames. I short the stocks which are Over-Extended to the upside in multiple time frames. And Buy the stocks which are Over-Extended to the downside in multiple time frames.
And Yes, I understand It is going to be very very tough. But, I am trying to be as systematic as possible. Rest, let’s see how it goes.
I look for Large Cap stocks where RSI is OB or OS in multiple time frames. I start from Daily, then 1 Hour, then 30 Minutes, then 15 Minutes, then 10 Minutes, then 5 Minutes and then 2 Minutes.
The more time frames it is OB or OS in, the larger quantity I take into my trade. It’s as simple as this. Nothing complicated.
I am glad I was able to explain it in an understandable way.
I use Tradingview Stock Filter for the same to filter such stocks. I am planning to switch to Zerodha Streak’s newly launched SCANNER very shortly. I am currently testing it. You can try it too at http://tiny.cc/StreakByZerodha
The best part is, @Streak is also active in tradingqna forum. You can ask them queries about this too.
The math looks great ! But to make 700 + per day will still be difficult with stocks with a capital of 15k .You will have to use a lot of leverage . Your accuracy has to be more than 70% and you will have to quickly book profits and be even quicker in taking losses when the trade goes against you. On my good days i make 1500 + Most of the days i remain between 400 to 600 and on loosing days i loose between 100 to 250.