|July 20, 2020||Profit of Rs. 107,408|
|July 21, 2020||Profit of Rs. 69,752|
|July 22, 2020||Profit of Rs. 68,795|
|July 23, 2020||Profit of Rs. 20,128|
|July 24, 2020||Profit of Rs. 153,752|
The market continued its rally for the sixth consecutive week helped by the better-than-expected earnings from India Inc and firm global cues. Also, the rally fueled by the largecaps, progress in the development of a COVID-19 vaccine and hopes of another round of US fiscal stimulus. However, escalating US-China trade tensions and record virus infections in India limit the gains.
In this rally, one of our traders made a profit of Rs. 153,752 on July 24, 2020 highest of all other days in a week.
All these profits were made under the guidance of Mr. Yogeshwar sir who taught us how to trade and manage risk properly. If you can manage your risk and identify the right entry and exit points, you can end your week in profits.
When the market is near its crucial support or resistance levels, there are high chances of stop-loss getting hit. A smart trader waits for the right entry when a confirmed trend is formed. If you take the right entry at the right time on such crucial levels, there is a high chance of making good profits. One has to understand the risk to reward ratio and always try to find out high probability trades. Such opportunities do not come every day and when it comes, we have to be prepared for the outcome. Give a chance to yourself at least once in a month and see the difference in risk to reward ratio.
If you are a safe trader, better is to watch the market, and not take any position. Not taking any position and saving money is also a position in the market which helps to keep you in the market for a longer period.