S : Specific system – Which system you are adopting for your trade ?

M : Measurable - How much amount you want to achieve from your trade ?

A : Achievable – If you want to earn Rs. 1,00,000/_ in a day with the help of your trading capital Rs. 1,000/_, is it achievable ?

R : Realistic – The amount of profit target should be realistic. If you dream the stock price will go to Rs. 1000/_ in very short period of time which you just baught @Rs. 10/_. Will it be realistic ?

T : Time bound – Your target should have to be time bound. e.g. daily / monthly / yearly etc.

Let us sum up

Take a system of your choice. You may take the help of books / senior trader.

Ist month : You have 20 days (approx) in a month. You will earn profit @0.5 % of your trading capital per day. If you achieved it for each 20 days in a month, you are successful otherwise in the second month, try the same target again and so on.

2nd month : You will earn profit 1% of your trading capital per day and try to become successful for all 20 days of the month.


You are now a SMART trader. Enjoy the ride.

__________________
Line Baba ki Jai Ho !!!

Originally Posted by Satyojiit

S : Specific system – Which system you are adopting for your trade ? Let us sum up Take a system of your choice. You may take the help of books / senior trader. You are now a SMART trader. Enjoy the ride.

Sat da, please help. Your help will be valued much by me.
First - please recommend a single book to start reading.
second - help me frame a system, laterz of course.

Getting 0.5 % periodically (not daily) is possible.Say i take for each trade 0.10 % Commision (attached Rar File) and i select EoD Data and enter Longs at Specific Price Next Day with a BuyStop order.The Results are attached in 2nd page of Rar File.
But Annual Return is not so encouraging it is only 24 % that too with 93.24 % Positive Hit ,moreover the DD is also quite High it is -11.63 % System Draw Down.
Here the Avg Bar Held is 1.3 Days.So i may conclde that getting consistently 0.5 % is not going to make me Rich ,obviously accepting my personal Limitations that i cant design a System which gives very high Hit rate and also very good Annual Returns.
So i try to find another System ,this one is trying to catch TREND sacrificing the Hit Rate but Tgt 1.5 % and atleast a decent Annual Return,attached 2nd Rar.

Morale of my Story is to have some Consistently 0.5 % DAILY is not possible for me secondly without the Concept of Direction atleast and a Defined SL,just wishing 0.5 % to 5 % Daily is not going to solve my problem.

Hence i look forward to Learn ,how to improve my performances.

Attached Files

	file___C__Program Files_AmiBroker_Reports_@@ Test 93 % Strike-2.rar (16.9 KB, 18 views)
	file___C__Program Files_AmiBroker_Reports_@@ Holi 2010 Trend Bu.rar (17.4 KB, 16 views)

Originally Posted by novicetrader

Sat da, please help. Your help will be valued much by me. First - please recommend a single book to start reading. second - help me frame a system, laterz of course.

Meeeee !!! Main to ek chhotasa, nanhasa, pyarasa trader hun.

Ok, I don't know your stage or level of psychology / mental situation. Please consult with your mentor, who can judge you from the viewpoint of his experience.

In general I can mention one book, which has changed my viewpoint in 180 degrees. The book is "Rich Dad Poor Dad by Robert T. Kiyosaki". I don't know whether you have read that book.

__________________
Line Baba ki Jai Ho !!!

Originally Posted by Satyojiit

Meeeee !!! Main to ek chhotasa, nanhasa, pyarasa trader hun. Ok, I don't know your stage or level of psychology / mental situation. Please consult with your mentor, who can judge you from the viewpoint of his experience. In general I can mention one book, which has changed my viewpoint in 180 degrees. The book is "Rich Dad Poor Dad by Robert T. Kiyosaki". I don't know whether you have read that book.

I would prefer the 4th quadrant

Next book from my recommendation is "LAWS OF SUCCESS by Nepoleon Hill".

__________________
Line Baba ki Jai Ho !!!

Originally Posted by uasish

Getting 0.5 % periodically (not daily) is possible.Say i take for each trade 0.10 % Commision (attached Rar File) and i select EoD Data and enter Longs at Specific Price Next Day with a BuyStop order.The Results are attached in 2nd page of Rar File. But Annual Return is not so encouraging it is only 24 % that too with 93.24 % Positive Hit ,moreover the DD is also quite High it is -11.63 % System Draw Down. Here the Avg Bar Held is 1.3 Days.So i may conclde that getting consistently 0.5 % is not going to make me Rich ,obviously accepting my personal Limitations that i cant design a System which gives very high Hit rate and also very good Annual Returns. So i try to find another System ,this one is trying to catch TREND sacrificing the Hit Rate but Tgt 1.5 % and atleast a decent Annual Return,attached 2nd Rar. Morale of my Story is to have some Consistently 0.5 % DAILY is not possible for me secondly without the Concept of Direction atleast and a Defined SL,just wishing 0.5 % to 5 % Daily is not going to solve my problem. Hence i look forward to Learn ,how to improve my performances.

Originally Posted by novicetrader

I would prefer the 4th quadrant

Yah that is the point.

Ashisda also said that making 0.5% to 5% will not make you rich. By being a very good trader you will remain in one of the other three quadrants not in 4th quadrant.

You can subdevide all the people of world into 4 quadrants by Time and Money also.

Ist : Time is there but No Money.

2nd : Time is not there but huge Money. They have no time to enjoy the money they earned.

3rd : No Time and No Money. In my locality there are some young men who has no money and if you offer them a job, they will say they have no Time because they have to go for a Carram competition in their club.

4th : Time and Money - They have Money and have sufficiant Time to enjoy that Money.


So at first you have to decide whether you have to go to the 4th quadrant or not, then the HOW point will be identified by you automatically. You will have burning desire to achieve that, you will seach the way of success at the earliest possible time. At that very moment your mentor can guide you to that.

__________________
Line Baba ki Jai Ho !!!

I have guide/coach/mentor etc in many fields like study, engineering etc but financial field no one is there.And most of my accomplices are on the same boat as I am.Plz help me out, what will be my course of action?

We are in the same boat brother. I have also not found out one single mentor who can guide me in this field. What I have done ? I search for books here and there and read them. I know by adopting this method, I shall have to invest too much time, money etc. I was/am/will be making mistake's in the trade / investment. I have no other alternative to avoid this. I learn from market who is the best tutor in this field.

I have got so many help/s from this forum. Here so many educated / knowledgable traders share their experience. You will see, from this forum so many IT'ans are buying ticket to reach 4th quadrant.

__________________
Line Baba ki Jai Ho !!!

so Sat da as you the hard way for all of us, well it will be earned, so permanent.Lets do it then as you say.I am sure quite a few of us would land in the 4th quad. in the process.