A Bird's eye view to a Bull's eye

[oilman5]

its 21.11.2010...............u have helped me regarding change vs confidence...........how to increase............a level...........sort of discussion
thanks again to tnsn 2345
.........btw we have a good meet in Pune on Sunday

 

[tnsn2345]

Dear Tnsn2345,

One of the best threads I have read on the forum. Really informative & refreshing.
Please continue to post.

Tc

Dear Friends,

It is heartening to accept Raunak's feedback, Due apologies to him, for highlighting his comments only purposely to state that this thread, like many other good threads by experienced traders if not seen as an inspiration to change / improve / implement 'something', then this story will also end like a movie show. And once you are out the hall, you forget and get back to the grind in your life.

I know that for many of the readers this may just be like a fairy tale and a feel good thread, but am hoping that even if it helps only a few of you to rework your trading, I think my efforts of coming and writing here will be met. And for that a conscious, concrete and acitionable effort has to be made.

Regards,

 

[vibhunair]

Dear Tnsn 2345
You are doing a wonderful thing here in this thread in particular and the forum in general. Newbees like me have a lot to learn from people like you. Looking forward to many more informative posts from you. I for one am reading all your posts and interospecting them. If I m not contributing constructively to the discussions here its only because I m very much overwhelmed by the knowledge being imparted and consider myself too small a fish to be contributiong constructively here. Please keep up the good work. Novices like me have a lot to learn from people like you...
Thanx once again for the wonderfull work:clapping::clapping:

 

[looser]

tnsn2345 please reply to the following thread:
http://www.traderji.com/options/50253-linkons-guppybb-system-8.html#post528306

 

[tnsn2345]

.....
Some generic flaws are:

1) Trading without a TP
2) Changing TF of trades
3) Taking a trade in vengeance
4) Not putting SL
5) Changing SL adversely
6) Adding to losing positions
7) Exiting from profits early
.... etc ...etc...the list is endless....
So, is there a way out to profit from such flaws....I always thought...Why change...why change...Can I make use of my core incompetency to trade profitably. Yes....is the answer...just by changing a little....very very very little and this is possible...(will give examples in the next post)

Ok...let us make this interactive and do this excersie with a live case study.

Since there are some newbees also following this thread, can someone volunteer (equally open for an experienced traders too) and list down his flaws / short comings (aka 'core incompetency') related to trading. Anyone can come forward, list down these pointwise and let me give you tools and how you can use the same flaws to trade profitably.

Regards,

 

[dhanya_alapatt]

Hi,

B'coz of my silly mistake i lost 2000rs,which i had gained.i would like to list out my mistake or 'incompetancies'.

1)Not acting on time,when ter was a trend reversal,igorned it n even S.L hoping that my target would b achived.Thus not acting promtly i lost 2000rs.
2)Not following te plan strictly.My daily target is 2500,i had achived 3000 but in my greed to get more, made a bad move n lost money..
3)Not controling my emotions.once i lost te money i badly wanted to get it back,n b'coz of emotions takin control, my moves wernt te best n that prevented me from makin use of market trend in te best possible manner.

Hope seniors could help us newcomers improve.Lookin forward for your thought n guidance.

Happy Trading...

 

[enygma]

Wow - now time to learn

1. Letting the last few experiences dictate how I handle the "discretionary" part of my trading model. For e.g. If I take profits off at a certain level - whether to use a trailing SL after the level has been reached or take profits off immediately depends upon my last few experiences. This is not like taking profits off early but if the market is giving you more, you should atleast try to take some part of that. Slowly, am coming around to the realization that it is better to leave that much on the table but would like to know whether there are any tools.

2. Over-analysis. As an option trader, there are hundreds of ways to milk the same thing - vola, price, time decay, whatever. Feel that sometimes it is better to take the simplest possible trade instead of looking for that extra 5 points.

More as I think more,
E.

 

[.Pride.]

Ok...let us make this interactive and do this excersie with a live case study.

Since there are some newbees also following this thread, can someone volunteer (equally open for an experienced traders too) and list down his flaws / short comings (aka 'core incompetency') related to trading. Anyone can come forward, list down these pointwise and let me give you tools and how you can use the same flaws to trade profitably.

Regards,

revenge trading

 

[jagankris]

Dear Tnsn,

My problems

1.Early Exit.
2.Coping with loss and not taking the next trade which mostly turns out to be the best result giving trade.
3.Not following charts with discipline.Each day I will think of following the charts but the end will not follow it.

Thanks.

 

[dhanya_alapatt]

Hi friends,

please check out my post
http://www.traderji.com/trading-diary/50878-new-traders-diary.html#post528590
please give your valuable suggestions,thoughts and advise.

Thanks,