Come into the Trader's Den
- Thread starter AW10
- Start date
Have a dream ...
-------------
US Market was closed on monday for Dr. Martin Luther King's birthday.
Dr. King's dream was EQUALITY. He wished everyone to be judged by the content of
their character rather than the color of their skin.
(here is link to his famous speech - "I have a dream" http://www.youtube.com/watch?v=PbUtL_0vAJk)
WHAT IS YOUR DREAM?
- Is your dream to be able to spend more time with your family?
- Is your dream to have a better marriage or be a better parent?
- Is it to be able to volunteer more of your time to the causes you care about?
- Is it to have enough money to travel to places you've always wanted to go?
- Is your dream to have a certain type of home or car ?
Everyone has dreams. What is yours?
Trading is only a vehicle to your dream.
It’s not really about trading, it’s about your dream and using low risk trading methods to get you there.
Take time to think about it and see where are you going. It is still not late to take new year resolution to live little bit more of your DREAM..
Happy dreaming and trading
-------------
US Market was closed on monday for Dr. Martin Luther King's birthday.
Dr. King's dream was EQUALITY. He wished everyone to be judged by the content of
their character rather than the color of their skin.
(here is link to his famous speech - "I have a dream" http://www.youtube.com/watch?v=PbUtL_0vAJk)
WHAT IS YOUR DREAM?
- Is your dream to be able to spend more time with your family?
- Is your dream to have a better marriage or be a better parent?
- Is it to be able to volunteer more of your time to the causes you care about?
- Is it to have enough money to travel to places you've always wanted to go?
- Is your dream to have a certain type of home or car ?
Everyone has dreams. What is yours?
Trading is only a vehicle to your dream.
It’s not really about trading, it’s about your dream and using low risk trading methods to get you there.
Take time to think about it and see where are you going. It is still not late to take new year resolution to live little bit more of your DREAM..
Happy dreaming and trading
Dear AW,
No doubt every word of this post is inspirational, absolutely every word.
Just if I were to add a few words to your above statement, with your permission, it would be read as:
It’s not really about trading, it’s about your dream and using low risk trading methods and very high probability trades to get you there.
Regards,
No doubt every word of this post is inspirational, absolutely every word.
Just if I were to add a few words to your above statement, with your permission, it would be read as:
It’s not really about trading, it’s about your dream and using low risk trading methods and very high probability trades to get you there.
Regards,
Why do any of these things have to be a dream?
1. It should not be a dream to spend more time with your family. It should have been in the planning stages. It's more personal responsibility than a dream. Sometimes, it even comes down to denying myself of some of the things I want to do in order to do what I should with my wife and one of my 14 grandchildren. It's no dream. Just do it!
2. We live in a highly promiscuous society. It's a society that says it is okay to look at and think about another woman. That does not make for a good marriage. We also live in a selfish society. Look to please your spouse before self. Seek for your spouse's comforts before your own. Sit down and talk. Work on things. Your spouse should be your best friend. Quit dreaming about a better marriage. Very basic stuff, but that is how you have a good marriage.
It's not a dream in being a better parent. That should have been in the planning stage before the kids came along. If that wasn't the case, then just begin being the proper parent right now. Quit dreaming about it.
3. Freeing up time for volunteer causes is also part of planning. We only have time to do what we really want to do. If you don't have time for volunteer work, then you have chosen other things. We are all given 24 hours in one day.
4,5. We are in one of the best industries there are to have money to travel and go places, and to own any car or home we wish. It comes down to personal effort and the goals that are needed to get there.
What's my dream? To attain all these things without work or effort. Whoa!!!! Now, that is a dream.
I must be living a dream. Not really. Everyone can have all this if they want, but we must look inward at ourselves, and ask, "Why do I not have all this?" The subject is much deeper, but it comes down to taking personal responsibility for your actions.
BTW, if you have the first 2 items alive and working well in your life, then the latter 2 doesn't even matter. Many people think riches and wealth is a key to being happy. It is not! Take my word for it. Having a good marriage with a family in order, along with real contentment, that is happiness.
Everything I mentioned sounds like a dream, but it is reality. It's sounds simple, but quit dreaming and just do it.
I hope a few months form now someone comes back and says I applied myself, I took responsibility, and I have a great marriage, and I am a wonderful parent. The other things aren't quite as important, but remember the proverb, "He that rules his spirit is mightier than he that takes a city."
WHAT IS YOUR DREAM?
- Is your dream to be able to spend more time with your family?
- Is your dream to have a better marriage or be a better parent?
- Is it to be able to volunteer more of your time to the causes you care about?
- Is it to have enough money to travel to places you've always wanted to go?
- Is your dream to have a certain type of home or car ?
Everyone has dreams. What is yours?
Trading is only a vehicle to your dream.
Its not really about trading, its about your dream and using low risk trading methods to get you there.
Take time to think about it and see where are you going. It is still not late to take new year resolution to live little bit more of your DREAM..
Happy dreaming and trading[/QUOTE]
1. It should not be a dream to spend more time with your family. It should have been in the planning stages. It's more personal responsibility than a dream. Sometimes, it even comes down to denying myself of some of the things I want to do in order to do what I should with my wife and one of my 14 grandchildren. It's no dream. Just do it!
2. We live in a highly promiscuous society. It's a society that says it is okay to look at and think about another woman. That does not make for a good marriage. We also live in a selfish society. Look to please your spouse before self. Seek for your spouse's comforts before your own. Sit down and talk. Work on things. Your spouse should be your best friend. Quit dreaming about a better marriage. Very basic stuff, but that is how you have a good marriage.
It's not a dream in being a better parent. That should have been in the planning stage before the kids came along. If that wasn't the case, then just begin being the proper parent right now. Quit dreaming about it.
3. Freeing up time for volunteer causes is also part of planning. We only have time to do what we really want to do. If you don't have time for volunteer work, then you have chosen other things. We are all given 24 hours in one day.
4,5. We are in one of the best industries there are to have money to travel and go places, and to own any car or home we wish. It comes down to personal effort and the goals that are needed to get there.
What's my dream? To attain all these things without work or effort. Whoa!!!! Now, that is a dream.
I must be living a dream. Not really. Everyone can have all this if they want, but we must look inward at ourselves, and ask, "Why do I not have all this?" The subject is much deeper, but it comes down to taking personal responsibility for your actions.
BTW, if you have the first 2 items alive and working well in your life, then the latter 2 doesn't even matter. Many people think riches and wealth is a key to being happy. It is not! Take my word for it. Having a good marriage with a family in order, along with real contentment, that is happiness.
Everything I mentioned sounds like a dream, but it is reality. It's sounds simple, but quit dreaming and just do it.
I hope a few months form now someone comes back and says I applied myself, I took responsibility, and I have a great marriage, and I am a wonderful parent. The other things aren't quite as important, but remember the proverb, "He that rules his spirit is mightier than he that takes a city."
WHAT IS YOUR DREAM?
- Is your dream to be able to spend more time with your family?
- Is your dream to have a better marriage or be a better parent?
- Is it to be able to volunteer more of your time to the causes you care about?
- Is it to have enough money to travel to places you've always wanted to go?
- Is your dream to have a certain type of home or car ?
Everyone has dreams. What is yours?
Trading is only a vehicle to your dream.
Its not really about trading, its about your dream and using low risk trading methods to get you there.
Take time to think about it and see where are you going. It is still not late to take new year resolution to live little bit more of your DREAM..
Happy dreaming and trading[/QUOTE]
One more chart.....Bank Nifty Fut 30 min Timeframe...........down ...down and down.....
Smart_trade
Smart_trade
Dear ST
Thank you so much sir, this banknifty chart has reminded me.. I was short in August on about 10200 levels W/o Stoploss/any strategy,(http://www.traderji.com/day-trading/27421-bollingerbands-post459190.html#post459190)and went on shorting to average it when it was very bullish finally i gave up booking huge loses at 11600 level, wiped my hard earn capital, this was before dedicatedly learning the TA on TJ world...
It is so clear on 30 min tf to take action. Just one question..as the trend is down which is checked/followed on daily Chart, Is it can be short/add during the day at day's High (where it is marked the stop loss) instead of days low's break point..? In other words why to enter at break of days low/previous low when it is already confirmed the 'down trend' on higher tf then why not look to enter at higher level of the day for more gain..?
Thanks
Regards
Suresh
Last edited:
[/QUOTE]
You hit the nail on the head by mentioning that these dreams can be planned.
In my view, everything in this world happens atleast twice. First it has to be in someone's dream/thoughts and then in reality. With that belief, somewhere/sometime, I need to dream about "what kind of married life I want? (i.e. my dream married life)"
Then to achieve it, to make it a reality, I need to plan it in detail and ofcourse than I need drive to take action as well.
happy trading
You hit the nail on the head by mentioning that these dreams can be planned.
In my view, everything in this world happens atleast twice. First it has to be in someone's dream/thoughts and then in reality. With that belief, somewhere/sometime, I need to dream about "what kind of married life I want? (i.e. my dream married life)"
Then to achieve it, to make it a reality, I need to plan it in detail and ofcourse than I need drive to take action as well.
happy trading
I'm glad to hear I got my point across, and did not come across as obstinate.
Actually, everything that is worthwhile take effort and sacrifice, and a willing diligence. But, my goodness sakes! How worthwhile it is!
You made a valid point that I did not think of. All good things start with a dream. Afterward, it takes the conscience effort and desire to make the dream come true.
You hit the nail on the head by mentioning that these dreams can be planned.
In my view, everything in this world happens atleast twice. First it has to be in someone's dream/thoughts and then in reality. With that belief, somewhere/sometime, I need to dream about "what kind of married life I want? (i.e. my dream married life)"
Then to achieve it, to make it a reality, I need to plan it in detail and ofcourse than I need drive to take action as well.
happy trading[/QUOTE]
Actually, everything that is worthwhile take effort and sacrifice, and a willing diligence. But, my goodness sakes! How worthwhile it is!
You made a valid point that I did not think of. All good things start with a dream. Afterward, it takes the conscience effort and desire to make the dream come true.
You hit the nail on the head by mentioning that these dreams can be planned.
In my view, everything in this world happens atleast twice. First it has to be in someone's dream/thoughts and then in reality. With that belief, somewhere/sometime, I need to dream about "what kind of married life I want? (i.e. my dream married life)"
Then to achieve it, to make it a reality, I need to plan it in detail and ofcourse than I need drive to take action as well.
happy trading[/QUOTE]
Dear Friends,
One parameter I discovered to measure trading success had nothing to do with how much profit you made. Infact if your trade results in loss still you can srore a point in this parameter. Sounds surprising, but over a last year or so, this is one parameter I have been tracking (apart frow a few others).
This parameter which I call as 'Trade Success' parameter is very simple to measure and monitor. 'Trade Success' is measured on the basis of adherence (or non adherence) to the trading plan. Simply put it, if you have taken
1) the trade (entry)
2) managed the trade (adds/ reducdtion) and
3) exited the trade (either at profit/ stop loss or by the end of your holding period)
as per your trading plan. Then you score 1 / 1 or 100% and so on...
Trading success to me now is not profits but measurement of this parameter, either you can do it in terms of absolute number or percentage. 'Trade Success' can be applied to any trading plan, and TF trade, intraday, or Options setups too.
I have experienced that monitoring, measuring this parameter is more easier than tracking your winning, losing trades, ratios, risk : reward ratio. Not that they are not important but if we measure 'Trade Success' then all other parameter automatically fall in its place, giving our mind ample time to make the next and right trading plan.
I have been measuring this parameter in absoulte number since almost a year now and last week reached 75 level in all consecutive trades (involving multiple TF trading plan). For me now it is like a cricket score and I now count it as runs, till now I have scored 5 half centuries and the latest score is 75 and still batting. That means that the moment I do anything wrong with my trading plan I get out. So I have to start scroring for zero (i.e. a new batsman at crease
).
As any great achievement demands celebration, for me too reaching the 75 runs mark is a landmark. The next level will be a century, whether I am able to continue this inning till 100, I do not know, but atleast this weekend was a time to spend great time and money on family and friends (they did not know what was the celebration for but the party was on me)
Regards,
p.s. a century scored will involve a charity for which some allocation has been initiated. Let me see when I hit it.
One parameter I discovered to measure trading success had nothing to do with how much profit you made. Infact if your trade results in loss still you can srore a point in this parameter. Sounds surprising, but over a last year or so, this is one parameter I have been tracking (apart frow a few others).
This parameter which I call as 'Trade Success' parameter is very simple to measure and monitor. 'Trade Success' is measured on the basis of adherence (or non adherence) to the trading plan. Simply put it, if you have taken
1) the trade (entry)
2) managed the trade (adds/ reducdtion) and
3) exited the trade (either at profit/ stop loss or by the end of your holding period)
as per your trading plan. Then you score 1 / 1 or 100% and so on...
Trading success to me now is not profits but measurement of this parameter, either you can do it in terms of absolute number or percentage. 'Trade Success' can be applied to any trading plan, and TF trade, intraday, or Options setups too.
I have experienced that monitoring, measuring this parameter is more easier than tracking your winning, losing trades, ratios, risk : reward ratio. Not that they are not important but if we measure 'Trade Success' then all other parameter automatically fall in its place, giving our mind ample time to make the next and right trading plan.
I have been measuring this parameter in absoulte number since almost a year now and last week reached 75 level in all consecutive trades (involving multiple TF trading plan). For me now it is like a cricket score and I now count it as runs, till now I have scored 5 half centuries and the latest score is 75 and still batting. That means that the moment I do anything wrong with my trading plan I get out. So I have to start scroring for zero (i.e. a new batsman at crease
).As any great achievement demands celebration, for me too reaching the 75 runs mark is a landmark. The next level will be a century, whether I am able to continue this inning till 100, I do not know, but atleast this weekend was a time to spend great time and money on family and friends (they did not know what was the celebration for but the party was on me)
Regards,
p.s. a century scored will involve a charity for which some allocation has been initiated. Let me see when I hit it.
Last edited:
Dear Friends,
One parameter I discovered to measure trading success had nothing to do with how much profit you made. Infact if your trade results in loss still you can srore a point in this parameter. Sounds surprising, but over a last year or so, this is one parameter I have been tracking (apart frow a few others).
This parameter which I call as 'Trade Success' parameter is very simple to measure and monitor. 'Trade Success' is measured on the basis of adherence (or non adherence) to the trading plan. Simply put it, if you have taken
1) the trade (entry)
2) managed the trade (adds/ reducdtion) and
3) exited the trade (either at profit/ stop loss or by the end of your holding period)
as per your trading plan. Then you score 1 / 1 or 100% and so on...
Trading success to me now is not profits but measurement of this parameter, either you can do it in terms of absolute number or percentage. 'Trade Success' can be applied to any trading plan, and TF trade, intraday, or Options setups too.
I have experienced that monitoring, measuring this parameter is more easier than tracking your winning, losing trades, ratios, risk : reward ratio. Not that they are not important but if we measure 'Trade Success' then all other parameter automatically fall in its place, giving our mind ample time to make the next and right trading plan.
I have been measuring this parameter in absoulte number since almost a year now and last week reached 75 level in all consecutive trades (involving multiple TF trading plan). For me now it is like a cricket score and I now count it as runs, till now I have scored 5 half centuries and the latest score is 75 and still batting. That means that the moment I do anything wrong with my trading plan I get out. So I have to start scroring for zero (i.e. a new batsman at crease ).
As any great achievement demands celebration, for me too reaching the 75 runs mark is a landmark. The next level will be a century, whether I am able to continue this inning till 100, I do not know, but atleast this weekend was a time to spend great time and money on family and friends (they did not know what was the celebration for but the party was on me)
Regards,
p.s. a century scored will involve a charity for which some allocation has been initiated. Let me see when I hit it.
One parameter I discovered to measure trading success had nothing to do with how much profit you made. Infact if your trade results in loss still you can srore a point in this parameter. Sounds surprising, but over a last year or so, this is one parameter I have been tracking (apart frow a few others).
This parameter which I call as 'Trade Success' parameter is very simple to measure and monitor. 'Trade Success' is measured on the basis of adherence (or non adherence) to the trading plan. Simply put it, if you have taken
1) the trade (entry)
2) managed the trade (adds/ reducdtion) and
3) exited the trade (either at profit/ stop loss or by the end of your holding period)
as per your trading plan. Then you score 1 / 1 or 100% and so on...
Trading success to me now is not profits but measurement of this parameter, either you can do it in terms of absolute number or percentage. 'Trade Success' can be applied to any trading plan, and TF trade, intraday, or Options setups too.
I have experienced that monitoring, measuring this parameter is more easier than tracking your winning, losing trades, ratios, risk : reward ratio. Not that they are not important but if we measure 'Trade Success' then all other parameter automatically fall in its place, giving our mind ample time to make the next and right trading plan.
I have been measuring this parameter in absoulte number since almost a year now and last week reached 75 level in all consecutive trades (involving multiple TF trading plan). For me now it is like a cricket score and I now count it as runs, till now I have scored 5 half centuries and the latest score is 75 and still batting. That means that the moment I do anything wrong with my trading plan I get out. So I have to start scroring for zero (i.e. a new batsman at crease
).As any great achievement demands celebration, for me too reaching the 75 runs mark is a landmark. The next level will be a century, whether I am able to continue this inning till 100, I do not know, but atleast this weekend was a time to spend great time and money on family and friends (they did not know what was the celebration for but the party was on me)
Regards,
p.s. a century scored will involve a charity for which some allocation has been initiated. Let me see when I hit it.
thnx for sharing this.... never thought of measuring 'trading success' in this manner... it makes a lot of sense....
come to think of it now, in the last one yr, there has been only one occasion where I have got disillusioned and did not follow my system.. needless to say the moment I got out of the mkt, it went as anticipated initially..
apart frm this one aberration, I have followed my system to the book, barring a few incidents where the mkt gapped up or down so much that I could not take my adds.. which in any case was part of the plan...
as a matter of fact whenever I felt that the system required a little tweaking, I never changed the original plan, but started taking additional trades as per the new tweaks that came to my mind in order to test the changes and compare the new results with the previous ones.
hmm already started feeling good after reading ur post.
regards
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