BEARSTREET RESEARCH AND ANALYSIS PRIVATE LIMITED is a gateway to the international stock markets. As we know, US stock market (NYSE, NSDAQ, ARCA, BATS, BOSX, Etc.) is the biggest stock market, both by listings & volumes. It is not just biggest; it’s also the most diversified market. The largest and most innovative companies are listed at US exchanges..
Profitable Day Trading Formula:- Part-II
In part I I explained about the outline of the algo trading and now in II part here we will share about the manual trading and its challenges.
Manual Stock Market Trading:-
Here again , I want to explain about the risk involve in stock market trading. Only trading education and practice can minimise the risk of Stock market trading. But people do not give value to trading education and therefore the success ratio in trading is less than 2-3% .
I would like to share an incident, few weeks back , I was sitting with one of the higher authority of exchanges and was discussing about the scope of day trading as a career. Basically the person who was on the table with me, he belongs to a higher authority for education department of an exchange. At the time of discussion, I explained him about our floor working, how we search passionate guys who want to make career as a professional trader and how we give them trading knowledge and facilitate with funded trading account and allow them for manual trading with real money. He was surprised, and asked me, how are you people doing that ? The record and statistics prove that, the success ratio is less than 1% then how you people give them live money for trading.
My answer was- Sir, the statistics and record are meant for whom who still do not understand the value of trading education. We very much focus on trading education and then we are able to do so and at our floor, the success ratio is more than 10%. The time has changed and now days the new generation has started to understand about the career in stock market and the opportunity as a professional trader career.
Here my object is to explain this incident to you only about the thought process of government and authorities. Government and authorities will always work for mass and these days , people are not such aware about the career opportunity as a professional trader career. But time will not stop for anybody. Let’s understand about the formula about the profitable day trading through manual trading.
Tools required to start trading:-
- Trading account with any broker
- Fund for trade
- Knowledge for making profit from trading:-
- Self Determination
- Mental Observance
If candidates have such skill set then, he can go further otherwise first he needs to learn and then start for next:-
- Make a Trading Plan
- Set the risk level (Monthly/Daily/per trade) It is according to the trading plan
- Set Goals
- Workout for trading – Create your portfolio according to your skill
- Set entry & exit Rules
- Keep daily record of your trading and analysis of your trading history
I will explain in detail about above points because every points have their own value.
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