Day Trading Stocks & Futures

[Smart_trade]

Sir how long did it take you to make the transition from oscillators to pure price action? I still have problems assimilating principles of price action. I therefore find solace in oscillators.

It took more than a year to master.....basics like risk control,discipline etc were there already but I was fortunate to have joined the forum when many of us were learning..so posting charts, pointing mistakes, discussions, arguments ( even small friendly fights ) all were going on which facilitated learning in a group....all friends who were learning that time now have gone elsewhere or not active in our forum.

Smart_trade

 

[sumosanammain]

It took more than a year to master.....basics like risk control,discipline etc were there already but I was fortunate to have joined the forum when many of us were learning..so posting charts, pointing mistakes, discussions, arguments ( even small friendly fights ) all were going on which facilitated learning in a group....all friends who were learning that time now have gone elsewhere or not active in our forum.

Smart_trade

There were a lot of friendly fights., I remember a lot of members going to hospital to get patched up, after soo many of the meetings, in the end we all decided to use plastic chairs, as wooden ones tend to hurt harder, as well as break. Learning price action involves all this, so be prepared

 

[Smart_trade]

There were a lot of friendly fights., I remember a lot of members going to hospital to get patched up, after soo many of the meetings, in the end we all decided to use plastic chairs, as wooden ones tend to hurt harder, as well as break. Learning price action involves all this, so be prepared

Sumo is a friend from that time but he does not need to learn any system, he is a system by himself....and guys dont be fooled by the funny things he posts...he is one of the sharp traders and a system developer.

ST

 

[Riskyman]

It took more than a year to master.....basics like risk control,discipline etc were there already but I was fortunate to have joined the forum when many of us were learning..so posting charts, pointing mistakes, discussions, arguments ( even small friendly fights ) all were going on which facilitated learning in a group....all friends who were learning that time now have gone elsewhere or not active in our forum.

Smart_trade

Would you have any idea how many traders from that time are (successfully) trading full time even now?
I guess your answer will be a good guide for many aspiring full time traders here.
Even at this point on this forum, there seem to be very few full time traders. Most seem to be have some kind of job and they squeeze trading in between.

 

[Smart_trade]

Would you have any idea how many traders from that time are still successfully trading full time even now?
I guess your answer will be a good guide for many aspiring full time traders here.

I definately know that 5-6 traders are still trading the same method very successfully....but the success rate is not very encouraging as 80 % guys will not go beyond the basics and never come to flawless application of the techniques learnt.....these 5-6 are full time professional traders...most will give up and go to some easier things like moving averages etc...

But few more could be trading with their own things put into the system...

Smart_trade

 

[sanju005ind]

Would you have any idea how many traders from that time are (successfully) trading full time even now?
I guess your answer will be a good guide for many aspiring full time traders here.
Even at this point on this forum, there seem to be very few full time traders. Most seem to be have some kind of job and they squeeze trading in between.

I am a full time trader who squeezed a job in between

 

[Riskyman]

I am a full time trader who squeezed a job in between

You are lucky bhai. Double income for you!.
I meant traders whose sole/primary income is from trading. Of the regulars here i can count only a few.

 

[Smart_trade]

Would you have any idea how many traders from that time are (successfully) trading full time even now?
I guess your answer will be a good guide for many aspiring full time traders here.
Even at this point on this forum, there seem to be very few full time traders. Most seem to be have some kind of job and they squeeze trading in between.

Full time trading needs a good size capitalisation...most of the traders start trading along with the job to accumalate trading capital but after accumalating sufficient trading capital by that time they are too used to a fixed date paycheque and bonuses....

Full time trader needs atleast over 25 L capital...doing it on Rs 2 L-5 L capital is a very mentally draining activity...we all started with few thousands capital, got blown a few times,built it on the way and went to become full time traders....we were lucky to achieve this.

Smart_trade

 

[Smart_trade]

Few traders who worked on foreign assignments or had high paying jobs could accumalate 20-25 L trading capital but starting with 25 K or 50 K and going to 25 L is a long hard journey with lots of pain and hardships in it....but my respect to all full time traders who are earning from the market on their own skills and not dependent on anything outside...

ST

 

[afin]

I definately know that 5-6 traders are still trading the same method very successfully....but the success rate is not very encouraging as 80 % guys will not go beyond the basics and never come to flawless application of the techniques learnt.....these 5-6 are full time professional traders...most will give up and go to some easier things like moving averages etc...

But few more could be trading with their own things put into the system...

Smart_trade

I am one who uses a very simple system based on moving averages in conjunction with something else such as stochastics and slow stochastics. I like the simplicity behind it and believe that it is possible to be winning using these methods too

Price action for me is too abstract and am still at a very nascent stage as far as trading goes. Screentime is extremely important to learn and develop a sound foundation for it and unfortunately that is something I am in short supply of at the moment.