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

[jain.er]

Taiki bro why are you missing entry

what is your SL trigger prices or do you you use limit order for entry ?

 

[Taiki]

Taiki bro why are you missing entry

what is your SL trigger prices or do you you use limit order for entry ?

Hi Jain Bro,

Yes sometimes I use limit order and some time I out buy SL order. When i get sure signals o market movement i prefer to use SL order.

Regards
Taiki

 

[Gaur_Krishna]

Taiki, what is this book all about? Have you designed a system out of this? Any comments....

Regards,
Gaur_Krishna

High Probability Trading

http://www.4shared.com/office/iQAm2FbN/Marcel_Link_High_Probability_T.htm

 

[Taiki]

Taiki, what is this book all about? Have you designed a system out of this? Any comments....

Regards,
Gaur_Krishna

Both the books that I have mentioned are about trading with mutliple time framework, selecting a bigger time frame, and trading in the direction of that trend, plus about other trading psychology, MM, RR, probability of trading turning in to profit etc.

Yes My system is based on combined strategy by both those books.

Regards
Taiki

 

[needless101]

I'm a silent observer of this thread. Taiki, from the first post in this thread, I can resonate how you felt when you quit your job. Trust me, I am longing to take the same path as you, just too afraid to take the plunge right now.

Anyway, looking forward to your trades for today.

 

[Taiki]

EOD Summary

A bad day, I messed with my discipline and paid the price for that. I broke one of my rule which I had followed religiously last week, that is I did not wait for price to enter into my setup area. I tried to trade in between the setup and got whipsawed.

The psychology behind this activity were

- To be in a position, Trading for the sake of trading :annoyed:
- Trying to make early profit, Did the reverse :annoyed:

Did two trades, both went for stop loss, loss of -10 points

Then Missed the short entry at 1PM from 5910 level, As was not before the terminal at that time.

Now while replaying the candles for the day I can see how the two loosing trades setup got unfolded properly inside the setup area. One went for breakeven and the other went for a 10 point profit.

Need to be extra cautious at this stage.

Regards
Taiki

 

[VJAY]

EOD Summary

A bad day, I messed with my discipline and paid the price for that. I broke one of my rule which I had followed religiously last week, that is I did not wait for price to enter into my setup area. I tried to trade in between the setup and got whipsawed.

The psychology behind this activity were

- To be in a position, Trading for the sake of trading :annoyed:
- Trying to make early profit, Did the reverse :annoyed:

Did two trades, both went for stop loss, loss of -10 points

Then Missed the short entry at 1PM from 5910 level, As was not before the terminal at that time.

Now while replaying the candles for the day I can see how the two loosing trades setup got unfolded properly inside the setup area. One went for breakeven and the other went for a 10 point profit.

Need to be extra cautious at this stage.

Regards
Taiki

Dear Taiki,
When you leaving terminal put sound alerts where you want to be alert....You can do it on terminal or if using Ami then use some line alerts....so you not miss the moves....

 

[Gandhar.]

EOD Summary

A bad day, I messed with my discipline and paid the price for that. I broke one of my rule which I had followed religiously last week, that is I did not wait for price to enter into my setup area. I tried to trade in between the setup and got whipsawed.

The psychology behind this activity were

- To be in a position, Trading for the sake of trading :annoyed:
- Trying to make early profit, Did the reverse :annoyed:

Did two trades, both went for stop loss, loss of -10 points

Then Missed the short entry at 1PM from 5910 level, As was not before the terminal at that time.

Now while replaying the candles for the day I can see how the two loosing trades setup got unfolded properly inside the setup area. One went for breakeven and the other went for a 10 point profit.

Need to be extra cautious at this stage.

Regards
Taiki

a day trader should never try to do these things either try to be calm in ranges and not being in position sometimes saves a day (rangebound or very volatile ) dont worry be happy and be profitable :thumb:

 

[Taiki]

Dear Taiki,
When you leaving terminal put sound alerts where you want to be alert....You can do it on terminal or if using Ami then use some line alerts....so you not miss the moves....

Okay, Yes, this is a good thing, I will try this

Thanks & Regards
Taiki

 

[Taiki]

I'm a silent observer of this thread. Taiki, from the first post in this thread, I can resonate how you felt when you quit your job. Trust me, I am longing to take the same path as you, just too afraid to take the plunge right now.

Anyway, looking forward to your trades for today.

Yep brother,

This has been a roller coaster ride for me ever since I have left my job in terms of emotion and psychology. I know there must be many traders even in this forum who must be thinking to take this step daily. But not able to do that for other responsibility. Will share my thoughts and experience someday of both before leaving the job and after that when I started fresh in this line.

Even if 2 months have gone, it is still the beginning for me, lot many things to learn, lot many things to do. So will take time now, after i get confidence and profitable will share my experience one day

regards
Taiki