Can I make a living out of Trading only?

[Kungfu]

Started trading 6 months back. with 25K. now only 10K balance. Think it difficult to take money home from market. I accept my system wrong, any suggestion??? or which thread to follow!!!

What is 315??


Thanks
Brill

Take a look at your trade (strategy) then show it to everybody. Some good trader would look it and advice you something.

 

[calic]

TCS Dec, futures is ar 1232..@ 9.27 a.m......and I have been till now unable to make an entry...as soon as the markets opened I put a buy order @ 1224.25....increased it to 1225.2 and now my buy order stands at 1227.25...I really do not know whether I will be filled up or not...TCS has opened gap up....Thats how the markets function...my strategy till now has proved to be correct ...but if I do not get filled there is no use..and I am really apprehensive of getting filled up at higher levels...These are the many issuues a trader faces....and TCS has already crossed 1233 in futures till now....I will better let go a trade as my time horizon is very small..if it works fine if it does not work...no issues

Curious to know whether you have taken the trade or not?

 

[Jhon Kumar]

I don't think. If any one addicted to trading then by lots of effort and lots of control they can passed day without trading.

 

[jahan]

Started trading 6 months back. with 25K. now only 10K balance. Think it difficult to take money home from market. I accept my system wrong, any suggestion??? or which thread to follow!!!

What is 315??


Thanks
Brill

hello Brill,

Before Blaming the System, did u Know wat ur doing means.......

1).do u placing the stop orders(atleast mentally).
2)do u have ur exit plan before entering the trade.
3) do u have risk management plans for ur trading system.
4) do u have worst contingency plans...like(pc probs,internet prob...blah ..blah)
...................................

r u cutting ur losses short and letting ur profits run, did u analyse ur trades,
wat is expectancy of ur system, wat is avg R/R ratio of ur system...

or did u simply exit ur trades due to fear of giving back,or did u keeping ur loosing trades hoping for turn around.

........dear Brill Trading is 80% phsycology 15% money management 5% ur system. system will nothing to do with ur success its small part in it.

success is u.....................

regards,
jahan.

 

[Brill]

hello Brill,

Before Blaming the System, did u Know wat ur doing means.......

1).do u placing the stop orders(atleast mentally).
2)do u have ur exit plan before entering the trade.
3) do u have risk management plans for ur trading system.
4) do u have worst contingency plans...like(pc probs,internet prob...blah ..blah)
...................................

r u cutting ur losses short and letting ur profits run, did u analyse ur trades,
wat is expectancy of ur system, wat is avg R/R ratio of ur system...

or did u simply exit ur trades due to fear of giving back,or did u keeping ur loosing trades hoping for turn around.

........dear Brill Trading is 80% phsycology 15% money management 5% ur system. system will nothing to do with ur success its small part in it.

success is u.....................

regards,
jahan.

Dear Jahan,


Your reply is an eye opener for a newbie like me. I am trying to find and implement all the points first on paper trade and then with a small capital. My first aim will be to minimize loses.

Each of your lines were aptly fit for me and my trades. those were exactly happening to me. and i realize that there was no real system that i am following.

Thanks once again

Warm Regards
Brill.

 

[jahan]

Dear Jahan,


Your reply is an eye opener for a newbie like me. I am trying to find and implement all the points first on paper trade and then with a small capital. My first aim will be to minimize loses.

Each of your lines were aptly fit for me and my trades. those were exactly happening to me. and i realize that there was no real system that i am following.

Thanks once again

Warm Regards
Brill.

Hello,

Before Building a system or strategy these following things u need to know...

1)Which market ur going trade ex....stocks,forex,futures,options or commodities.decide first in which market ur comfortable.
2).What type of trader ur ex.....positional,swing,intraday,etc.
3) in which timeframe ur considering ur strategy.or in which timeframe ur risk taking capacity is, for ex... as u go down in timeframes risk minimizes and profit also.so decide ur timeframe.
4)then decide ur strategy ex..trend following,trend reversal,breakout or scalping etc.etc.
5)i personally don't prefer paper trading,bcoz u never feel real greed and fear u frequently adjust ur strategy,i suggest u to start with 10% of ur original intended capital.

6).make a record of all trades(50 trades) u have taken and analyse R/R,win%,loose%,Avgwin,avgloose, if avgR/R is more than 1 then u can continue with that system,if its more than 1.5 ur doing good,if it is more than 2 ur system is great...so on

after doing all these things u gain confidence and u can bet more..let me know about ur progress and i will tell u position size technique depending on ur system so that u can take optimal risk and barable drawdown,to continually increase ur equity.. u will be amazed if ur capital doubles in a month or two months its all depending on u.

regards,

 

[raviDsai]

Make trading as your additional means of income and not the only means of income. Trading is a very risky business similar to gambling, so you never no when your luck runs out and give heavy losses to you. So its best to make trading as one of your interests and stick to your regular job.

 

[Brill]

Hello,

Before Building a system or strategy these following things u need to know...

1)Which market ur going trade ex....stocks,forex,futures,options or commodities.decide first in which market ur comfortable.
2).What type of trader ur ex.....positional,swing,intraday,etc.
3) in which timeframe ur considering ur strategy.or in which timeframe ur risk taking capacity is, for ex... as u go down in timeframes risk minimizes and profit also.so decide ur timeframe.
4)then decide ur strategy ex..trend following,trend reversal,breakout or scalping etc.etc.
5)i personally don't prefer paper trading,bcoz u never feel real greed and fear u frequently adjust ur strategy,i suggest u to start with 10% of ur original intended capital.

6).make a record of all trades(50 trades) u have taken and analyse R/R,win%,loose%,Avgwin,avgloose, if avgR/R is more than 1 then u can continue with that system,if its more than 1.5 ur doing good,if it is more than 2 ur system is great...so on

after doing all these things u gain confidence and u can bet more..let me know about ur progress and i will tell u position size technique depending on ur system so that u can take optimal risk and barable drawdown,to continually increase ur equity.. u will be amazed if ur capital doubles in a month or two months its all depending on u.

regards,

I realize now that i need more understanding of myself and decide on strategy/system. I am following different threads here in traderji to find out some.
Thanks
Brill

 

[Jeareh]

Make trading as your additional means of income and not the only means of income. Trading is a very risky business similar to gambling, so you never no when your luck runs out and give heavy losses to you. So its best to make trading as one of your interests and stick to your regular job.

Hi Ravidesai,

Trading is not like gambling.
If you follow the correct rule, strategy, style, mathematical principles, risk management etc. it is trade.
If you follow luck, intution etc. it is gambling.
Never mix both. Trading is risk, like any other business.

 

[akpurandare]

Nice to Listen that question.Actually service class is(Or say becomes) less and less innovative,Less thoughtful,Fearing,Over cautious etc etc.all factors stop you from taking challenges.Hope By now you might have established your self well with stock market.Else for all similar cases....take a break from job for say a month.experiment religiously and then decide based on your own feel and experience and of course advise of this nice group remains at back to support you in every state.