Are Indian day traders profitable?

Are Indian day traders profitable?

Hi everyone, I’m a absolute beginner and I’m seriously thinking of picking up day trading before I do that I’d like to know if it’s profitable to make a living.

Any Indian day traders could you please share your experience on this? How long did it take for you to get profitable? Also if you don’t mind could you also share how much do you earn from day trading? If you are hesitant to share the amount you could give a range.

Thank you guys in advance.

Edit: I’m not talking about luxurious life through day trading. I’m interested only in making a decent living.

Do they make 3k-5k in a day? This amounts to 60k-100k per month again this is on an average as somedays it can fluctuate between the 3k-5k.

View on r/IndianStockMarket by MR-WWHD

  1. Day trading is a business. It’s not a “job”.

    The success rate of day traders is similar to that of any business or startup.

    If you had to start any business — say a restaurant, or put up a factory or any other business…. you know beforehand that you need a few lakhs / crores of capital, some time to learn how the business is run, and a few years before you start recovering your investment and making profit.

    These numbers are similar in trading business. However, people somehow believe they will start trading with 10k and start making money right away and make lakhs or crores within a year.

    This is impossible and its not going to happen.

    Even if you somehow make some money accidentally, you will eventually lose it back to the market.

    People underestimate the kind of discipline, stress, pressure, and hundreds of hours of learning it takes to succeed in the markets.

    And even among those who put in the work and have their basics right, only a small percentage actually succeed over the long run.

  2. Nitin Kamat, the founder of Zerodha, the largest online brokers has said in an interview that morevthan 90% of daytraders lose money.

    You will see fancy indicators, colourful charts etc posted. Many traders posting their day’s gains, but not their yearly P&L. Most people get the impression that daydreaming = ₹₹₹. Reality is -₹-₹-₹

  3. I know one who is successful. He says keep losing money and time for at least a year. But don’t stop looking at the markets everyday. After sometime you’ll start seeing patterns and your intuition will become the edge. He didn’t read books or courses just lost huge money and gained experience. He doesn’t even look at charts anymore just the price. And he’s now one of the richer guy that I know around me.

  4. I am net profitable on overall 1.5 years of my trading journey.
    I have been earning 30-40k per month (10/12) months. Loss is not a lot. But initially I lost huge sum of money.
    So my net profit is just 20k

  5. Day trading is not for everyone.

    It takes a lot of experience and very strong mind to be a successful day trader. Even then chance of success are very small.

    Its definitely possible. But it’s as hard as cracking a competitive exam like JEE. It takes atleast a few years to learn. Risk and money management is another factor. Psychology is key.

  6. First of all study the different types of day trading systems and setups. Next apply them in paper trading and identify the ones which you are able to apply efficiently. Then pick the best one out of those and again apply in paper trading. Stick to a single setup and strategy over a long period of time. Keep a Risk to Reward ratio of 1:3 in the beginning. Even if your setup works in your favour in 60% of the trades, you would be successful. You may check out a strategy called 5 EMA for Nifty Bank.

  7. that is the wrong thinking. there is no 3-5 k a day. you should go full offense and try to make a lot of money in short burst while focusing heavily on risk. this field is not meant for most people. only certain personality types will end up surviving here. Even someone like Bandi Shreyas has said this field needs a backup. please focus on something else in life and keep stock markets as a side business .

  8. Most of the trades are automated, a day trader most likely going to fail in this market, ( that’s why foreign market do not have much retail FnO volume ) ,

  9. Day trading is comparatively difficult for a retail trader. I mean there’s no edge for a retail trader compared to the institutional players with powerful super computers, access to greater information and sometimes insider knowledge too. We can’t compete with these folks with our simple screens and little technical knowledge.

  10. I am a day trader and a businessman, I did day trading because my business wasn’t doing especially well so I wanted to take the load of my salary away from it. I have been fairly successful as I have returns of 65% in approx 7 months which could have been much higher , had I been more careful and risk averse. I am also an MBA in marketing and a little bit of finance.

    The one thing, one must be aware of is that no matter how many techniques and theories you apply to it, you can’t predict what will happen at the moment. In my experience, I have been more successful after noticing the patterns and guesstimating the psychology of traders rather than relying on trading strategies.

  11. If you invest 35 lakh in FD for 1 year under Senior Citizen, the max you will earn is 265000, which is under 750 a day. I guess you can earn more in trading using the same amount. Even if you aim for 10k a day, you are getting better returns than FD. Having said that, losses are part of trading, book profits when you can and try booking lower losses as well if you can. Yes, you will have to pay fees and taxes and all, but as long as your objective is booking profits, then you will remain in green. And you will surely get better returns than FD

  12. Day trading i don’t know but maybe but hold it for a few months and sell like 2-3 or 6 months

    If you invest in proper stocks u can make a good income from it

  13. I’m a profitable day trader. It’s definitely possible, and it’ll take many months/years of losses to get a grip of it. There is no holy grail strategy. You need to play it to your strength.

  14. Put 40k in my day trading account a month ago. It’s at 34k right now max loss at 22k. So I’ve consistently made back 16k.

    This is my 2nd account. I blew the first one which went very close to zero so I took a break and restarted.

    This is very hard. But now I’m finally getting the hang off it.

  15. I have been day trading for past 3 years, along with doing a job. Recently i decided to pick up my study hat and go for an MBA, which has helped my trading pickup.

    Ill tell you what they dont say about trading: its a highly rewarding but emotionally draining career. If you can enjoy the ups, you better have the balls to accept the losses.

    Also trading works on probability – you just need to win more no of times than you lose.

  16. As a person who has been a very successful investor and has been managing other people’s money and get a lot of dms on my social for tips and advice .

    I can tell you one thing i have only lost money trading but that was the price i paid to learn the fact that this is not for me. Technical indicators work but no one can predict in what time it will play out.It is very complicated when you involve a lot of technical stuff like time decay ,vix etc etc.

  17. Day trading is profitable only if the idea is profitable in positional. I have strategies that I run in positional and day trading. The profit ratio is 10:1 (Pos:Intra).

    However, now you’ll have a better edge because of daily expiry. You won’t be profitable every single day, but your winning days will be significantly higher if you trade in the item expiring that day.

  18. They are profitable, but pale in comparison to the honour and money that a doctor such as myself will get. You thus must follow my path and become good doctor like me

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