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

[Taiki]

Re: Will be joining the club in a month

Hi Taiki,
All the best for your journey. will be joining this club soon .
Starting to trade full time from July 1st week.

Will be following your thread. Enjoy the journey..

Good Luck Bro

 

[Taiki]

Great man, I wish i had the guts to do this right away. I am thinking about it from a long time. Kindly clear some of my questions.
Do you have the confidence that you will be making money from day one.
HOw long have you been trading ? and are you in profits for last 6 months?

Please answer me , What i heard from you is one small inspiration for me to take this step one day . I am so happy to hear what you did.

Yes, I am confident to walk on this path, and i am determined to take the life as it comes. And as i have mentioned earlier that for first 3 months i am not much worried about targets, but i will look to build confidence. Cause I believe if you will stick to this line for long you will surely make money, Mistakes will happen, lets learn from it..

I started trading in 2012, and lost 50K in first 3 months. I treat that was my tuition fees. After that i came to know about the technical worlds, and started making my system. Then I started trading again on 2013, January, and started making profit. But last 5 months I could not trade regularly because of my job. Then one day, it was some event day in Feb, and in hurry i made one mistake that is chasing the market, and on that day I lost all my profiot since January.

Now, at present I dont consider myself that I know all or i have experienced much, I am still learning. But what i know is i have dedicated my time and energy for this line. and I am doing what i like..

Best of luck to you too buddy. :thumb:

 

[vishnuvarma222]

ALL THE BEST :thumb::thumb:will watch ur thread......

 

[Taiki]

Is it the bearish Elliot Wave in formation for Nifty in hourly Chart !!!

W1, the first leg had the range from 6229 to 5936. i:e a range of 293 points
W2, the second leg bounced back to 61.8 % i;e approx to 6117.
Then predicted target for the third leg W3 will be
5866 (23.6%), 5824 (38.2%) and 5790 (50%).

Lets see, But 6040 - 6060 seems to have strong support for Nifty, So no short above 6040.

 

[prabhsingh]

Is it the bearish Elliot Wave in formation for Nifty in hourly Chart !!!

W1, the first leg had the range from 6229 to 5936. i:e a range of 293 points
W2, the second leg bounced back to 61.8 % i;e approx to 6117.
Then predicted target for the third leg W3 will be
5866 (23.6%), 5824 (38.2%) and 5790 (50%).

Lets see, But 6040 - 6060 seems to have strong support for Nifty, So no short above 6040.

To me it seems sort of Flat correction (3-3-5) where W2 can go beyond W1 which was 6229.

 

[14092012]

I started trading in 2012, and lost 50K in first 3 months. I treat that was my tuition fees. After that i came to know about the technical worlds, and started making my system. Then I started trading again on 2013, January, and started making profit. But last 5 months I could not trade regularly because of my job. Then one day, it was some event day in Feb, and in hurry i made one mistake that is chasing the market, and on that day I lost all my profiot since January.

Now, at present I dont consider myself that I know all or i have experienced much, I am still learning. But what i know is i have dedicated my time and energy for this line. and I am doing what i like..

This is the mindset I've come across in many traders.. it's addictive innit? Given a chance and good capital, I'd want to do full time trading any day. Market does provide opportunities for anyone.. wish you the best man.

 

[Taiki]

To me it seems sort of Flat correction (3-3-5) where W2 can go beyond W1 which was 6229.

You gave me good points to explore more.. Thank you

 

[Taiki]

EOD Summary

I was ready with my plans and buy/sell calls before the terminal. But, a new kind of activity I was doing through out the day. Analysing each and every move of market and that too in every time frame..

Missed 2 planned trade, entered for one long trade in between. Did only 1 trade

1. Bought Nifty June 6100 CE at 115, Stop loss 110, Target 125.
Target achieved. Profit of Rs. 500.00

Thoughts about the trade and Lessons

Need to execute my plans sincerely without a second thought. Stop loss is there to protect me for any move against my plan. I had plan to go long at 6060, with a target of 6120 and stop loss at 6030. Market gave me this opportunity, but I missed.

So entered in to the trend with less confidence and with option. Thankfully I ended up with profit. But the profit figure could have been much more.

Secondly my second call was to short at 6130, stop loss 6145, and target 6100. Missed this one too :annoyed:

Lessons

Stop over analyzing the market. You have already done your homework and are ready with plan for all possible movements.

 

[DanPickUp]

Stop over analyzing the market. You have already done your homework and are ready with plan for all possible movements.

A good lesson for day two and a complete normal lesson at this stage. Notice it and tomorrow is an other day. Hope you have some kind of journal in which you write all this lessons, so in the morning before you start you quickly can fly over them. You may even make some little notes about how you felt each day.

Take care / DanPickUp

 

[Taiki]

A good lesson for day two and a complete normal lesson at this stage. Notice it and tomorrow is an other day. Hope you have some kind of journal in which you write all this lessons, so in the morning before you start you quickly can fly over them. You may even make some little notes about how you felt each day.

Take care / DanPickUp

Thanks Dan Bhai,

It seems a good idea. Going to keep a journal right now.