A new Life, A new Career, A new Dream - I am a Trader

[jagankris]

How about Buy High and Sell Higher.
or Sell Low and Buy Lower.

Sailing with Trend.

Even in that case we will buying much before You buy and sell earlier than u sell.

 

[soft_trader]

Gaur Krish - Jagan Kris - Krishna is always in both our name .

Honestly I haven't been focusing on the News events much so for.
I have added to my rules to watch for the forth coming news events.

Soft Trader - recommended investing.com.

Mates,
Please add to the list.

There are two things a trader needs in trading; 1. Movement & 2. Time.

1. Movement

We can anticipate a move in a certain direction but the time is unknown. Say a trader is expecting an up-move to a certain level, but he doesn't know when his target will be fulfilled.

2. Time

Sometimes a trader knows that at a certain time a big move will happen, but the direction of that move is unknown. For example: RBI policy, FED meet, etc.

So knowing forthcoming the News events, gives the trader an extra edge in trading, and the trader can be alert of any movement that may come.

Investing.com economic calender is good. But the best I think is watching business channels to get the news info.

Here is what you can keep an eye out for next week:

1. Unilever open offer closes on July 4th
2. CTT to be effective from July 01
3. Auto sales numbers for June is due next week.
4. DoT likely to meet to mull FDI hike proposal in telecom.

 

[Gaur_Krishna]

Gaur Krish - Jagan Kris - Krishna is always in both our name .

Krishna Krishna Krishna Krishna

Honestly I haven't been focusing on the News events much so for.
I have added to my rules to watch for the forth coming news events.

Soft Trader - recommended investing.com.

Mates,
Please add to the list.

For Global Events:

http://www.indiainfoline.com/EconomicEventsCalendar.aspx

I am looking for INDIAN EVENTS. Ye kala wala cabinet meeting pata hota to kuchh soch lete the

Regards,
Gaur_Krishna

 

[xrtrader1]

RBI rate cuts, inflation,GDP data announcement,
Finance minister announcement effect our markets. Any place to find such events ?

For Global Events:

http://www.indiainfoline.com/EconomicEventsCalendar.aspx

I am looking for INDIAN EVENTS. Ye kala wala cabinet meeting pata hota to kuchh soch lete the

Regards,
Gaur_Krishna

 

[DanPickUp]

@Taiki

Hope you watched the videos here and the one in the thread from RP. Both videos show again and again that TA is only part of the game, but NOT the game. An other prove.

Hope your system is on such a level in which it includes other tools. Other wise you will once run against the final wall. Would be only a question of time to reach that point.

Take care / DanPickUp

 

[403.forbidden]

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Dear Taiki,

First of all no " Mr/Sir/Ji " to me .. Please call me " 403 " and treat me as ur friend.

I have only just two years experience in trading and I don't know whether I could be able to help/suggest you like jagankris/Dan/other seniors. You have already traded for an year,also you are trading options and you sound knowledgeable than me. I understood and realized the insight of their words (Mr.Smart_trade and AW10),at the early stage,when all the books,blogs were filled with " emotions, greed, fear ". Once in a month, please, go through Mr.Smart_trade's two threads and read his posts again and again. You will understand something new to improve,for sure.

I started Swift in NSE Cash. Long/Short above/below SMA 60. Mr.Smart_trade says, " Take only long trades in uptrend and short trades in downtrend or trade both sides ". You can ask Rajesh about my stupidity. Traded only one bar, two bars in a rally and decline. Then a whole rally and decline. Traded 2-3 scrips simultaneously. I have learnt limit / stop loss/ market orders, modification of stop loss orders, rally and decline. Finally stuck to SBI cash. Max units used 300. 95% red trades. My friends started futures trading using a different method and I was trading Swift cash and my real time understanding. Without fear and doubt, I have taken all the trades (my first success,I have not realized that at that time). I can say I was disciplined to some extent.

I started Swift BNF in October 2011. 10 points is Rs.250,used to exit the trade,4 trades can make 1000/day for 20 days the evil twin took control with these sort of calculations,without knowing about the reality,emotions,taxes,expenses etc,. Red,green,red,green..cycle. One RBI news day around 12 pm, BNF sent a long wick and tail, Lost 13,000+ Hell, NOOOOO ! Totally collapsed. Went out for a walk, Came back to the terminal and saw the charts, falling down,below SMA 60,shorted 4
lots,covered a significant amount of loss. That short trade registered strongly in my head. BNF fear disappeared slowly. Then changed the way of trading with my understanding. Entry with one lot, if trade goes in favor,10-15 points, add 3 lots, exit all,after 25-30 points max., if not in favor, reverse the trade(That was the biggest mistake I had been doing for few weeks,my quick reflexes at the wrong spot) Came across Mr.Smart_trade's post,"Markets don't reverse all of a sudden" and realized the lack of understanding and the lack of patience.

My friends asked me not to discuss anything about trading with the family.I was surprised. (Still everyday I call my mother and discuss about my trading, mistakes, red, green,improvements etc) At the beginning,luckily,sometimes, I made good money in the first trade before 10:00 am, immediately I called my mother and told her about that. You know what she used to tell. " Stay away and save the money you made. Don't do any monkey tricks ". But I used to come back to the terminal and lost the money I have made. Then I had to put myself under stress to make another green trade. If that turned out red, then became more aggressive and increased the size. Before noon, deep red. Went out for some fresh air. Came to the terminal at 1pm and took one more trade. Cool !!! Great trade, covered the whole loss and bit green. Aah ! I know how to trade,Come on,let me take another trade. Hell, that went red. EOD - BLOOD BATH Next day, next week, next month...same story... like a cycle.Then remembered Mr.Smart_trade's post," You will get 2-3 good trades in a day maximum,.So,wait for the hunt and flawless execution is required"

I used to ask anyone in my family to sit next to me,mouth shut.,just to prove them that I would take only 2-3 trades,between 9:30am -3:30pm. Explained them with a green trade and made them to understand the potential and help me. First trade is green/red, I go out for walk,call my friends. Come back after 15-20 mins. I can see clearly what mistake I have done,if that was a red. Then wait for the next trade. Mostly green. In a month's time, I started taking max 3-4 trades only and day was green most of the times. This helped me a lot to develop some patience.

I have not changed the method at this point. Just SMA 60 only,for almost an year.,but violated the rules,took opposite side trades. Old habit of trading rally and decline.

Mr.Smart_trade's EOM bar made me to think.Then focused on market depth.Tried to understand the moves. Not at all trading for a month but was watching the moves of BNF in 5TF. Had lot of questions like,' Am i doing something wrong ? ' ' my friends are trading something different'. Even my friends told me that they needed an odd man in the gang. Also they told me that you had no fear of previous losses. But I have not given up. I traded my own understanding. I was isolated because of my strange trading activity.Traded MCX Nickel for 2-3 months to handle BNF for the next day,to handle the real time.Tested my understanding with real money in BNF. Red,green,red,green,but my understanding improved soon. Then became consistent and increased the sizes. Changed the data feed and the software for 6 months,to understand the footprints. Not that much helpful for me,but cleared some of my doubts. Started trading NSE stock futures 5 months ago.

I cannot be able to sit for the whole day on single trade and let the profits run. I don't know how long that is gonna take and also my evil twin still says, " Markets trend only 20% of the times and 80% of the times range bound " .So,working on my set up, to day trade directly from the daily charts. I don't know about position sizing and money management. Now working seriously on those too.

I have another day trader friend,50 yrs old. We started trading together from another forum. We have been calling up each other and have never discussed about trading., but fear,greed,butterflies in the stomach,brain freeze He started trading cash,then BNF and now he is also trading stock futures. He lost his fear to some extent now. (Thank you very much Mr.Smart_trade. Your posts helped me to help another trader)

Still my family asks me," Any monkey tricks/testing today? How much is the damage? "

=====================

(if anyone new plans to day trade and if they come to this thread, the below is for them.Thanks to Taiki for the space in this thread)

a) Kill fear and doubt, if you really want to day trade
b) Read Mr.Smart_trade's two threads at least for one months, again and again
c) Get a data feed, watch the live moves
d) Read Mr.Smart_trade's two threads for another month. Compare your understanding with the live moves
c) Find out your own comfortable method, out of two or three methods
d) Stick to the selected (your) comfortable method,just a raw long/short set up,at least for three months
e) You can trade with 1 unit of any stock in NSE cash
f) Find out your mistakes,find out how disciplined you are and how much patience you have
g) Without dumping the money in the market, you NEVER LEARN trading
h) You know what you should do at the end of the 3rd month

Good Luck,friends :thumb:

 

[403.forbidden]

@403.forbidden : Great post :thumb: :clapping: :thumb: :clapping:

Agree with your every sentence, word & alphbet. Simply great post.

About threads, ST da's threads are awesome. I was totally failing in trading but saved by his threads and posts. Now only partially failing. Will implement your practise of WRITTING EVERY TRADE soon, from this month.

happy to know you too tread that "MARUTI MODEL"

Simply and all the best to Taiki and one & all.

Regards,
Gaur_Krishna

================
Dear Gaur_Krishna,

Nothing special in my post. But my two years experience.

What do you mean by " MARUTI MODEL" ?

Good Luck
================

 

[Taiki]

@Taiki

Hope you watched the videos here and the one in the thread from RP. Both videos show again and again that TA is only part of the game, but NOT the game. An other prove.

Hope your system is on such a level in which it includes other tools. Other wise you will once run against the final wall. Would be only a question of time to reach that point.

Take care / DanPickUp

Yes Dan bro, Thank you for the Goldman sach video, Have not watched all the series so far, but will watch that. And also the video posted on Raj bro's post too was quite informative.

 

[403.forbidden]

Hey Man Very aptly summarize personal experience� like gold dust�.:thumb: I still recall our first meeting and trading in Shimla together�. and from there to the stage right now you achieve is experience in itself�� so if you share more of your mistakes, how you plug those holes� and developing and imbibing the mindset and discipline�will be of real help of all new aspirant�..who looking for trading as a career�
Thanks..

All the best Taiki....

========================
Rajesh,

Thanks for your patience and tolerance, to answer all my dumb questions

I have not achieved anything,but understood a little bit about trading and gained some confidence. Real achievement is when we can be able to execute our trades flawlessly,as Mr.Smart_trade says.

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[jagankris]

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Dear Taiki,

First of all no " Mr/Sir/Ji " to me .. Please call me " 403 " and treat me as ur friend.
LEARN[/B][/U] trading
Good Luck,friends :thumb:

Dear Forbidden,

Thanks for your nice post.

Regarding position sizing and MM

Adding to positions - If your risk per trade in BNF is say 40 points for 4 lots.
As you rightly pointed out.Just place one trade with 1 lot if stop hits you are just 0.25 R down than a full 1R. Thanks to linda bradford raschke.

Since 60MA cross over markets will give lot of opportunities for
retracement and take support at the moving average and move further.

Or Pivot breakout.
But each adds will have its own initial stops.

Markets move only 20% rest 80% - I really don't know how this stat was derived.
But I believe markets has multiple trends in multiple time frames.
Say for example 5M consolidation will appear as 1 Minute sideways.

Point G - You can learn trading with out real money.Practice in MT4 platforms.Try what ever you want but the objective should be to win.I.e treat as a serious trading not just paper trading.

Break the rules there and see what is happening ?

Never Average a loosing trade - Why one should not average there find which ratio of averaging works better or averaging is really risky ?
Try Leverage trading - have high leverage and understand its risks.

Which is better SL or hedged position ?
Why revenge trading is a sin --- why not revenge trading ???
Try in a demo platform.

Reading the posts of experienced traders will definitely help but a serious demo trading will give much better insight than that.

Yes stay away from loosing traders for some time till one's master trading.Else indicator - holy grail searching ,blaming the markets,not following one's trading system ie doubt,confusion may arise.