Shell Programming and Scripting

I have created a script "myscript.sh"
I need to run this script with diffrent parameters.
The parameters are stored in a file myparam.txt.
I need to run myscript.sh script for every parameter supplied in myparam.txt.
Example:

If myparam.txt contains following lines:
param1
param2
param3
...

I need to run the script as
myscript.sh param1
myscript.sh param2
myscript.sh param3
...
Automatically as the parameters will change everyday.

Please help me resolve this so that I can invoke the script for every parameter in the param file.

Thanks

Code:

while read  parm
do
  myscript.sh $parm
done < myparm.txt

Thanks Ambikesh,

when I try with this code it is taking only the first parameter in the parm file and running the script with it.
it is not taking the 2nd,3rd parameters from the parm file provided.

I entered another line in the last of the parm file and it is working fine now.

Thanks for all your help