Thanks bhai…leverage is dangerous…not just in trading but in any business…
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What’s wrong with Scalping ? Not being defensive or anything, just want to know your opinion on this.
Scalping is good technique indeed for those who can handle it. 
I tried it but had some practical issues…allow me to mention them…
Live trading issues:
- It worked for me in paper trading but when I started applying it in actual trading, I found that scalper has to pay attention to brokerage. I made little profits which were eaten by brokerages and losses.
- I was trading with SASonilne (999 brokerage plan) to save brokerage, but their terminal caused tech glitches every now and then causing problems in entry/exit.
- While scapling, you need to make some big profits if you really has to come up overall profitable. But I always hesitated to book them as I was used to book quick profits…
- I always hesitated to increase lot size.
Now health issues:
- You need to sit in front of screen till market closes or else you miss trade set ups.
I normally take lunch at 1 pm, It was hard for me to scalp and eat together so I decided to eat after market close i.e after 3.30 pm
- Another human need is go to pee. I was literally finding it hard to go to pee as I missed entries sometimes…So I decided not to have water during trading hours…
- Such weird routine started to create health problems like acidity , dehydration, indigestion, and eye problems (blurred view).
- Staying in front of screen and taking every trades created adrenaline rush into me. My heart beats started to rise, stress level went high…Every time I closed my terminal after market closed, I asked myself, " Can I continue to do it for long?"
So I left scalping as it is not my cup of tea. Really hats off to those scalpers who manage them all and come up as successful scalpers. 
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True. Have faced all the problems stated above and then some. For me the trick has been to never ask myself this :
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You know what friend, We traders normally tend to fail to consider very important aspect that’s health.
Traders begin to know market at their 20’s ( normally). Our body has capacity to take much then but as they come close to 30’s ( I am 32 now), our body loses that capacity over time. Health is real wealth, what If I make a lot of money by compromising my health, get ill and put those money to hospital…?
So I chose something that works for me. I mostly take one trade ( some times two) in the morning and close my terminal till 1 pm. Atleast my health is good and I still make some money
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Leverage is improtant for those traders who lacks capital and doing trade with small capital …
Traders with big capital dont need leverage , For them 50-60% return annually is big
I agree…
Just an example here…
Case 1:
I am a person with a very good business idea, but I don’t have a capital. What would I do…?
I might go to CA, he would make a project report for me, with such documents I go to bank and asks for loan and bank approves with certain conditions.
Case 2:
I am a person with a very good trade plan, but I don’t have a capital. But when I go to CA to make a project report on my trading business, he would laugh at me. Even if I directly approach to Bank for loan, bank will definitely refuse. Why so??
Because Trading is speculative business by nature which has very little success ratio.
Why brokers were giving so much leverage ( loan) to us ??
Not because they were thinking about our goodness, but they wanted to earn more brokerage, interest and increase clients, revenue etc…
Traders with small capital can practice real trading (not paper trading) but If they go for leverage in every trade, they would blow up capital and nothing would be left to even practice.
So it’s just my opinion that in early years trader with small capital should practice their trading, complete education, join a job, lower standard to living to save more. Make a good capital. Show performance of your practice to your elders who can give you money to trade
( or marry with a girl who can help you raise trade capital by doing a job )
Once you get decent capital. start trading seriously.
Very few lucky traders can succeed applying leverage with small capital, rest have to take a long road to succeed…
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Hitesh bro.
23% in 6 months is good .
If someone is profitable alone, then he comes in that 5% of population that is profitable.
Rakesh Jhunjunwala once said “If I get 7% annually then I consider myself as a king.”
I am assuming you are a new trader that’s why 23% looks less to you.
People aren’t able to make 1% in 6 months.
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You explained it really well! Thank you.
Having the right trading Psychology is one of the important aspects of forex trading which prevent traders from making trading decisions based on emotions.
Very useful information! It is important for day traders to actively perform technical and fundamental analysis of the market, in order to make good strategies. But traders often seem to forget the importance of psychology. It is important to develop a traders’ psychology, because it gives a clear mind to be focused and consistent on trading.
How to develop traders pscyology sir?
Amazingly put together! Placing stop loss is important as they minimise risk a tad bit. This helps the newcomer less overwhelmed and uncertain about making decisions.
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This was much needed! Thanks for this post. Beginners need to keep these points in mind while trading.
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Thank you for sharing. You have mentioned all the relevant aspects of day trading that are often overlooked by traders. The first point is very valid! Averaging down may not be the best move when you have already lost. Just accepting the loss and moving on will be the best thing to do here.
Psychology of trading is a vast topic , it takes time to understand this.
Some best books on trading psychology;
Trading in the zone.
A disciplined trader.
Market wizards.
I appreciate your efforts to make a post about these useful tips. I hope everyone here will find them useful.
Thank you for sharing these important tips!
Day traders frequently have to act quickly and think quickly, dipping in and out of equities as needed. They require a certain level of mental alertness to pull this off. Additionally, they must have the self-control to follow their own trading strategies and understand when to register profits and losses. Simply put, emotions can’t get in the way.
Amazing tips OP. Thank you for taking time and sharing it with us.
I believe a proper mindsewt is the most important because if you get greedy or fearful then it will be tough to trade.
A mental attitude that is strong and well-maintained can do anything and perform well under challenging situations. It is crucial for traders to understand the importance of mindset in trading.