Day Trading Stocks & Futures

[monkeybusiness]

theory is one and practice is another.
same class ... same teacher ... many ranks ...
all i am saying is the teacher is the best of the best ...
if i ask my personal bottomline .. i have only ifs and buts ...

have a sneak peek .. of the trade porn ... then you know.

You may like the concepts of trade management shown in the video.

 

[TraderRavi]

master trader remains elusive and mystical

he was up by 10% and just i was about to withdraw in 2 days time .... drawdown hit 30% ... and i have to withdraw from capital ...
imagine shorting copper, crudem and crude again & again, when they were not giving opportunity to cover short legs. so the MO is like ...

short
short
short
cover
short
short
short
cover

basically its averaging the loosing side throughout the day and continue the next day.

still had several aha movement where the down channel is bought and vice versa.

i realize i cannot articulate much and loss of words.

apni capital leke bhag lo bhai . ye so called master trader kisi din 100% drawdown kar dega.
he is averaging loosing trades I m not impressed. why he is mostly wrong on direction like me .

 

[kharikumaar]

just wanted to ask, one of my friends with a brokerage sends me a small support and resistance level, which is quite good. i can post it here for reference whenever i can.

should i start a new thread for that??

 

[TraderRavi]

just wanted to ask, one of my friends with a brokerage sends me a small support and resistance level, which is quite good. i can post it here for reference whenever i can.

should i start a new thread for that??

post here no probs

 

[pannet1]

We had one member here who always averaged his trades (real or paper, don't know). Last trade was Wipro.
http://www.traderji.com/community/threads/trading-40-lakhs-for-good-profits-simple-strategy.99330/

in yoga sutras, they draw an analogy between mind and monkey. it says human mind is like a drunken monkey bit by a scorpion,
so i dont know why my mind put special emphasis on the bold letter above ... and assume that the trader got his account burnt.

 

[kharikumaar]

this was today's levels, i get it around 9.25/9.30.

 

[sanju005ind]

View attachment 28785

this was today's levels, i get it around 9.25/9.30.

Oh.That's why you gave the command.Welcome keep posting.

 

[pannet1]

Forex markets are usually range bound in the short term. I employ that strategy sometimes. You can even make some money on what was once a loosing trade. Stocks are a different game altogether. Ive seen those wipro trades you talking about. Wonder what happened to him eventually.

haha. exactly. (wipro trader)

buying options and averaging loosing side .... has a inherent disadvantage because we are dealing with an instrument that can decay over time. (master trader whom i refered to earlier) having put a decade of trading experience in commodity know the level like the back of the hand. he could also recall approximately at what price he bought / sold certain instrument ... like its the back of his hand.

the narrative is like ... the likelyhood of success % of breakout trades is lesser than the failure of breakout trades. the same MM is not employed in Gold, Silver, Nickel or Natural gas and hence not traded. so if crude current contract is trading at its high of $75 he looks to short.

well an instrument is not always trading its high or low ... and when its in a range ... thats where you need to tread carefully.

(as narrated by master trader)

 

[pannet1]

You may like the concepts of trade management shown in the video.

yes, i watch that .... lost in the middle ... now forgot the concepts. may need to revisits. thanks.

 

[kharikumaar]

We can use the levels for option trading also. of course it is not a certified winner but have found it to be quite good 65-75 % of the time. which according to me is good going. normally if these levels happen by 11/11.30 only then i take the trade else i pass. it may still work but i play a bit safe after that.

for option traders there is a method of calculating the option premium pricing which is available on a website by mr. ranjan. if someone wants to i advise them to see the video he has posted and understand how to make the excel sheet to derive the premium price yourself. that way it will help keeping track because if you get a premade one then ,even if there is one small mistake the formula somewhere you will get wrong results and you will have no idea what it is