Some useful Psychological Tips for beginner Daytraders part-3

I mean what all system 1 trader needs to sit while doing trading

sorry I am not getting this…what do you want to ask exactly…?

i mean at day trading what setup is required for a day trader ?
I mean to say which all systems r required like desktops,tv etc

Ok…Ok…Well it depends on trader’s personality. If he is scapler or trade more than one instruments, he needs more screens.
I just trade with nifty so my set up includes one good quality laptop ( RAM 4 gb or more), net setter( currently jio), and smartphone in case any technical glitch happens. You also need a good chart provider like I use tradingview. and not to forget Zerodha for placing orders… :slightly_smiling_face:

OK GOT IT …

So you take trade on niftybees ?

No on Nifty futures or slight ITM options. You need liquidity to get your orders filled in the morning & Nifty futures & options are full of liquidity…

How many lots you trade daily basis?
are you profitable now?

Double digit lots with options right now…Yeah I am profitable with average return ( close to 23%).

23% return annually?

no. for six months…

thats less bhai…infact very less…

IF we invest our capital and sit for 10 years more can give cagr more than 30% …

if trading and getting returns only 40-50% annuallly not good

I would like to advice you trading or investing is not easy as it looks ! just think of it like this if you get cold you know what kind of medicine will cure it but that does not mean you are a doctor. Small things you can manage in life but you cant do surgery because for that you need 5 to 10 years of experience plus right medical knowledge which is time tested , but till there are failed surgeries because of a probability of life itself.

You know what hitesh bhai, Few years ago I was losing, then came a time when I was breaking even, Now comes a time when I make something ( something’s better than nothing☺).
So Mere 23% is good for me…I focus on compounding as I told u…
Say person with rs 10 k makes 40% annually, it’s mere 4000, not enough right…?
But a person with 100 lakh capital makes 40% annually, it’s 40 lakh…

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well bro thats good if u getting this returns but getting 2 to 3 x is important in day trading specially

With bigger account it’s not that easy actually…

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So you mean to say returns which you are talking about is without leverage right

Right…for me I need 1 lakh to buy 1 lot of slight ITM option & Rs 2 lakh to buy 1 lot of futures.
it’s fairly leveraged I guess…

in day trade u use leverage or not?My mean

Leverage is no more now (stopped by SEBI).

day trade you get leverage 5 times bro