Diary of a day trader......

[newbee]

Indianzz, it is perfectly understandable. Allow me to repost a couple of passages (Credit to CV for giving the link).

Hello

Where is this kind of training available for budding traders??

Thanks
nb

 

[newbee]

Would you enter a battle if you are handicap, unprepared, and using out dated weapons like stones and sticks when your enemy is using guns, is technologically advanced, stronger and smarter than you are?

Do you think trading is a war

What enemy u r talking about?? do u think anyone (market) cares about or even notices my trades??

I wonder what impact my 2 lots will have on moving the markets

Thanks
nb

 

[hari09omkar]

when u are sitting on a terminal trading and you see so many numbers go up no matter what the softare or data says ,people jump in! saying that market will continue to go up! and that's what i am talking about......

You have a valid point,a point which was cleared by my teacher in my first class with him.
CLOSE YOUR EYES TO WHAT THE WORLD IS REVEALING,BE DEAF TO THE TV CHANNELS AND STOP READING ECONOMIC TIMES.STICK ONLY TO THE SYSTEM WHICH YOU HAVE DEVELOPED.
Ofcourse do the readings of dailies and watching tv,but after ur daytrading job is done,not in the market hours.
If you want to survive as a daytrader,as the title of the thread is indicating,then you must stop thinking about what other people,which includes any other layman to expert analyst and experienced traders,are saying.
Daytrading is a business and it should be learnt with great care and time in hand.

 

[oxusmorouz]

Hello
Where is this kind of training available for budding traders??

The problem is, newbee, the non existence of a body which regulates the function of traders. For medicine, we have the medical associations which regulates the education of students, and qualified doctors. A solution would be to learn from an established and educated trader. Of course, with every Tom,Dick, and Harry calling himself a guru after placing a couple of trades, it's quite a task indeed.

Do you think trading is a war
What enemy u r talking about?? do u think anyone (market) cares about or even notices my trades??
I wonder what impact my 2 lots will have on moving the markets

Well, you have taken its literal meaning.
Allow me to interpret it :- Compare yourself to a trader who is well established, trades an excellent system which has a clear edge in the markets, uses a computer to automate his trade, has a huge trading capital to reap advantages of a large account, educated to a great extent about the markets and related events and ask yourself, "Where do I, having the knowledge I have about the stock markets, using a trading strategy which is pitiable, having limited capital, and relying on luck to get me the result, stand when I do this comparison?"

 

[newbee]

don't bother by that man,
i rarely lie, coz once my dad told me lying never really achieves anything, but it alwyays tarnishes your credibilty and reputation, you can be a billionaire, but you will still be a liar.
to poor and a liar is tragedy, to be a billionaire and a liar is insanity!
i say when i made money and i say when i lost it, i say when i got greedy and i say when i played it safe, what's the point of lying, noone can take my money from me right



the purpose of posting all the trades is to know what the hell i am doing wrong, and to tell the people about it, and ask for their opinions, the learned men! ( )

second all this technical stuff which nooone understands ( at least not me) like fibonacchi, technical and stuff which claims to be back tested! ( back tested = something which happened in history !)

but markets behave in ways which always MAKES new history, and almost never goes through same history, if that were the case every trader would have been a millionaire by now! ! lolz



anyways i have madea simple rules of making money in stock market.
kinda explaining market completely you know.



imagine stock market like a shop in which you buy stuff ( shares) and sell it, it's yoru choice at teh rate which you buy and your choice at which you sell it.


.............................

Regards


IndianZZ

Hello Indian

Liked the concept of shopkeeper, makes it easy to visualize trading as a business. Wouldn't want to go on war every morning.

Just to add my 1 cent, ideally we buy only when the probability of being able to sell it higher is more, and we sell/short only when the probability of being able to buy it lower is more.

The question is how do we know the probability???

I do not have trading experiance to preach anything, just sharing what i was told.

Start with only price as your guide, do not use any indicators or advanced mombo - jumbo, just watch the price/tape.

I was also refered to a thread by SAINT where he discribes a method to understand price action.

After doing that the stage 2 maybe you would checkup on the indicators etc but that should be only after putting in a year or 2, burning your eyes watching that screen.

Ignore if it sounds stupid, no offence, just a though from noob

btw, its easy to loose 10Gs doing just 2 trades, i just learned it today, thankfully am paper trading. So nothing is right or wrong, everyone one has to find whats right for them.

Wishing you luck.


thanks
nb

 

[newbee]

The problem is, newbee, the non existence of a body which regulates the function of traders. For medicine, we have the medical associations which regulates the education of students, and qualified doctors. A solution would be to learn from an established and educated trader. Of course, with every Tom,Dick, and Harry calling himself a guru after placing a couple of trades, it's quite a task indeed.

I guess you mean NO the training opp is not available. So i did not get the point of putting in the quote in the first place. Anyway lets leave it at that, nice to have made your acquaintance

Well, you have taken its literal meaning.
Allow me to interpret it :- Compare yourself to a trader who is well established, trades an excellent system which has a clear edge in the markets, uses a computer to automate his trade, has a huge trading capital to reap advantages of a large account, educated to a great extent about the markets and related events and ask yourself, "Where do I, having the knowledge I have about the stock markets, using a trading strategy which is pitiable, having limited capital, and relying on luck to get me the result, stand when I do this comparison?"

Well conceptually did not find the idea of having to go to war every morning appealing , but say what, its only me. You like it that way so good for you.

And why would i care or even think about this super trader forget compare, when i don't even know there exists one. Isn't it supposed to be a fantasy spawned by snake oil salesmen?

Anyway, what do i know, just a noob, Peace.


Thanks
nb

My Trade Journal

 

[Indianzz]

Hello Indian

Liked the concept of shopkeeper, makes it easy to visualize trading as a business. Wouldn't want to go on war every morning.

Just to add my 1 cent, ideally we buy only when the probability of being able to sell it higher is more, and we sell/short only when the probability of being able to buy it lower is more.

The question is how do we know the probability???

I do not have trading experiance to preach anything, just sharing what i was told.

Start with only price as your guide, do not use any indicators or advanced mombo - jumbo, just watch the price/tape.

I was also refered to a thread by SAINT where he discribes a method to understand price action.

After doing that the stage 2 maybe you would checkup on the indicators etc but that should be only after putting in a year or 2, burning your eyes watching that screen.

Ignore if it sounds stupid, no offence, just a though from noob

btw, its easy to loose 10Gs doing just 2 trades, i just learned it today, thankfully am paper trading. So nothing is right or wrong, everyone one has to find whats right for them.

Wishing you luck.


thanks
nb

well i u are right noone can predict the probability.
however there is one very small logical and practical application u can say!
people need to have money in order to buy your stuff and people need to sell in order to get money.
coz you know, money itself is neither made nor destroyed, it just changes from one hand to another. btu that's a wholly different concpet which i would love to tell you some time else. anyways
back to to point
i don't try to predict market , that is i don't think tha ta stock is going up or down, i just predict if the money is money is available to make the move, coz there is no idle money in stocks ( a psychological casino thing) so i am happy to say that i am right about 80-% of the time,...


( i hope u got the message )


Regards
IndianZZ

 

[oxusmorouz]

I guess you mean NO the training opp is not available. So i did not get the point of putting in the quote in the first place. Anyway lets leave it at that, nice to have made your acquaintance

I think I made the statement quite clearly. Misinterpreting it isn't my mistake . Good to have made your acquaintance too.

And why would i care or even think about this super trader forget compare, when i don't even know there exists one. Isn't it supposed to be a fantasy spawned by snake oil salesmen?

The point there was not about the super trader but about the trader himself, referring to the point that there are other unsystematic factors at play which deter the chances consistent profitability, which are relatively overlooked, and bad performance is not entirely attributable to impossibility of earning consistent returns.
Quoting:
the purpose of posting all the trades is to know what the hell i am doing wrong, and to tell the people about it, and ask for their opinions, the learned men!

 

[master4sell]

" master4sell "

I think this Thread is a one type of "Diary of a Day trader",




master4sell

 

[visagar]

dear indianzz,
your opinions are thought provoking and stimulating. may be your your dapper approach to market trading, just like Dhoni's to batting, is the right way to go. hats off to you.