Day Trading Futures

[cloudTrader]

SBIN is in a nice uptrend, but 2550CE isn't gaining much.

Volatility is playing its role .. So low levels of vola currently that options are grinding the path of uptrend.

 

[timepass]

Volatility is playing its role .. So low levels of vola currently that options are grinding the path of uptrend.

SBIN CEs actually ended lower than yesterday

 

[sudoku1]

NF trend ↑

tgt > 8181

 

[amandeep86]

Hello Friends ,

Sharing my experience of Emotional Games that my mind is playing with me and hindering my way of trading .

Last Thursday on day of expiry totally lost control on my emotions while trading, when two SL hit consecutively.Did overtrading took 5 trades forgetting all MM and my system rules,It was like i was totally controlled by candles --->Long --->short ---> long --->short without any edge and booking good losses in each trade.

I reviewed my self and found what went wrong with me ,Now my mind is playing new game and i m hesitating to trigger my trade ..and when trade hits my target i end up regretting and frustrated .

This is on for two consecutive days and i m flowing with emotions ,totally disappointed now.

I m sure most of you at same stage of your career must have faced such condition.

Please advice what is the right step to control such Mind Games.

Regrds

 

[saakk]

Hello Friends ,

Sharing my experience of Emotional Games that my mind is playing with me and hindering my way of trading .

Last Thursday on day of expiry totally lost control on my emotions while trading, when two SL hit consecutively.Did overtrading took 5 trades forgetting all MM and my system rules,It was like i was totally controlled by candles --->Long --->short ---> long --->short without any edge and booking good losses in each trade.

I reviewed my self and found what went wrong with me ,Now my mind is playing new game and i m hesitating to trigger my trade ..and when trade hits my target i end up regretting and frustrated .

This is on for two consecutive days and i m flowing with emotions ,totally disappointed now.

I m sure most of you at same stage of your career must have faced such condition.

Please advice what is the right step to control such Mind Games.

Regrds

Stop trading for the week, let your emotions settle, just sit and watch the price. You will be fine monday onwards, its all part of the learning curve trust me........

 

[niftytaurus]

Hello Friends ,

Sharing my experience of Emotional Games that my mind is playing with me and hindering my way of trading .

Last Thursday on day of expiry totally lost control on my emotions while trading, when two SL hit consecutively.Did overtrading took 5 trades forgetting all MM and my system rules,It was like i was totally controlled by candles --->Long --->short ---> long --->short without any edge and booking good losses in each trade.

I reviewed my self and found what went wrong with me ,Now my mind is playing new game and i m hesitating to trigger my trade ..and when trade hits my target i end up regretting and frustrated .

This is on for two consecutive days and i m flowing with emotions ,totally disappointed now.

I m sure most of you at same stage of your career must have faced such condition.

Please advice what is the right step to control such Mind Games.

Regrds

Hi Amandeep
I am not an experienced trader..seniors will guide you better.
But I can share some experience with you what I have learnt from my little experience..
Mind plays games not only in trading but in all parts of life.but in trading it can be very costly.the experience you have been facing has been felt by every trader in one phase of their trading career.so dont be frustated.Remember You are the master of your mind.Dont become slave of your mind.I know its easier to be said.but frustation will also not be a solution.
See, on expiry day, you do revenge trading..market takes your 2 consecutive SL..& you may have decided " ok market make me loss, now i will show it, i will win at any cost"..this is none but revenge trading..with whom you are taking revenge with? with market?? market is so huge entity that we are nothing infront of it.so please never think about revenge trading.As if you consider market a War..after 2 wound, you lost your control..& again went for a fight with mind full of emotions, chances are that now you will be severe injured..so never ever do revenge trading.
Now your 2 problem..now youalso said..that now you are hesitate to take trades..it happens..because after losses, you have done some monetary losses but a huge PSYCHOLOICAL LOSS..which is much severe than monetary lossEs..
For some time, please paper trade your system..& gain confidence..
I think to control mind ,there can be many ways..but one way that I follow is ...make your system objective..trading is a business, so write your business plan..not only on computer but write it on paper with your hand..write objective rules of your system in a paper ..read it again & again..when in live market, use it as your trading manual...& FOLLOW IT LIKE A ROBOT ...because robot has no feeling...robot do what it has programmed..it has no feeling..so execute your plan robustly..no human interference..
or behave yourself as employee of some trading business..your money is not involved..but you have to execute the plan as written on paper..no waive off of any rule..like a law , you have to follow rules..otherwise,your job will be gone & you will not get any salary & you have to pay fines..
or there is one more way, if you are action oriented person..& play video games very much in your childhood..consider trading as fun game..where you are a fighter plane pilot..going daily on a unknown mission..dont know direction or anything..you just have a written manual on a paper, & you have to follow it..no discreation,no feelings..just have to follow it without thinking a moment..just follow what has written..you dont have any option other than follow it..if you will not follow, you know the consequences..anything can happen..
so its very simple..but make the system which suits your personality..dont trade a system just because somebody else is getting profit from it..but select a system in which you are comfortable with..back test that system on a substantial period of time & every condition of market..paper trade it & whn you are comfortable with it..write your rules of system in a paper..& rigrosly follow it..thats the solution which i can think of..
All the best

 

[Trader_PK]

Yes ST bro, Yesterday's market gave 2-3 opportunities to catch the trend for Nifty Futures daytraders........ yesterday i took long above 9:25 bar high and exited below 10:10 pl low and again took long above 8048 ( above 5 min 11:05 ph high/15 min 11:15 ph high/30 min 11:30 ph high...... all three ph high was same)....... and booked all 3:20 pm.



HEM

 

[Smart_trade]

Hello Friends ,

Sharing my experience of Emotional Games that my mind is playing with me and hindering my way of trading .

Last Thursday on day of expiry totally lost control on my emotions while trading, when two SL hit consecutively.Did overtrading took 5 trades forgetting all MM and my system rules,It was like i was totally controlled by candles --->Long --->short ---> long --->short without any edge and booking good losses in each trade.

I reviewed my self and found what went wrong with me ,Now my mind is playing new game and i m hesitating to trigger my trade ..and when trade hits my target i end up regretting and frustrated .

This is on for two consecutive days and i m flowing with emotions ,totally disappointed now.

I m sure most of you at same stage of your career must have faced such condition.

Please advice what is the right step to control such Mind Games.

Regrds

When you hit 2-3 stoplosses, it clearly meant that either you are out of sync with the market or the market is not tradable with your system..so dont do revenge trading. Revenge trading gave you large losses which crushed your trading confidence to take the next trade.

Stay away for 2-3 days and then start trading as usual...but no overtrading, no revenge trading...trade as per the trend and everything will be ok...keep your losses small is the trading mantra to remember.

Best wishes,

Smart_trade

 

[Smart_trade]

There are strong reasons to believe that we are in multiyear bull market...but as the markets go up we have to be careful as at some stage the inevitable correction will definately come...from which point the correction starts whether from 8200 or 8300 or 8500 is not known...but we have to reduce leverage and tighten our stops as we go up. This is because the corrections also will be steep and will inflict great damage if positions with high leverage are held...the corrections could be 200 or 300 or even 700 points...we dont know...no averaging of loosing trades, no catching the falling dagger...no holding of loosers with the idea of " thoda time samhal lenge":D

Does it mean that we should start accumalating short positions ?? No way ...not yet as the trend is still up so we have to trade from long side.Always trade the current trend...most people keep thinking about the past trend or the next trend but dont trade the current trend.

The correction also will be a good tradable move , a chance to make money...after that a bull market again....we traders are in for great days for next 4-5 years...let us make the best of this wonderful period.

Smart_trade

 

[Smart_trade]

Someone mentioned on TV that in 2003-2007 bull market, there were 18 instances in which there was a correction of more than 10 % and in 1 instance the correction was 30 %....even 10 % correction is huge....

ST