Hi Everyone
I am a full-time trader and I welcome you all to my thread 'A Diary of a Failed Trader'. For the longest time I have wanted to make a journal of my Positional and Intraday trades, so finally I gathered the courage to maintain it here in the Mecca of Indian stock markets TRADERJIdotCOM. My First Steps as a Trader began more than a decade back in this very Forum. If you search in-depth there are layers and layers of immense knowledge buried in loads of threads and posts.
My purpose is very basic and simple i.e. to have a journal for myself, Of course, from Time To Time, I will try to post my Trading Plan and my Technical Analysis. I will try to dump all my Trades at one place and Learn and become better; Learning Never Stops neither do Stock Markets. You only learn from your mistakes right?
Now a question will arise: why ‘TheFailedTrader’?
Well My friend there is nothing called 90 % win ratio, 80 % win ratio in trades executed in stock markets. The first basics of basic RULE in the stock market are to manage your Failures, Your Looser Trades, and Accept the Loss of a CORRECT Trade on time. This is the stock market and I am probably going to post more looser trades than winners. And I can vouch as a Full-time Trader that even with a 30% win ratio you can still be successful in stock markets. Booking Loss in a Correct Trade according To Plan is a WIN. You manage 7/10 trades with either Stop losses hit, or small losses or break-evens. BUT you Milk those 3/10 trades till the END...
I Use 4 Screens, Multiple Timeframes, Moving Averages, and Indicators at Times. I Look at a lot of Detail and Ignore Lots. Markets are Dynamic, I Adapt and I Use my Eyes and Stick to My Plan. SO THIS IS MY POINT OF VIEW.
I Would Be Highly Obliged If All The Seniors Of The Forum, Professional Traders, And Beginners With Basic Knowledge of Technical Analysis Would Discuss Their Points of View Regarding My Posts. The Purpose of This Thread in This Esteemed Forum is Healthy Discussions and Upwards Learning Curve.
Disclaimer:
1) The Posts are Mainly to Maintain My Journal and for Educational Purposes. I am not responsible for your Losses.
2) Do Your Basics. Try to Gather Knowledge from Discussions Here; I am Not Providing Financial Advice here.
3) I May or May Not Have Positions in Trades. Do Not Follow Me Blindly.
3) I will try to answer only Relevant Questions.
Regards
TheFailedTrader
I am a full-time trader and I welcome you all to my thread 'A Diary of a Failed Trader'. For the longest time I have wanted to make a journal of my Positional and Intraday trades, so finally I gathered the courage to maintain it here in the Mecca of Indian stock markets TRADERJIdotCOM. My First Steps as a Trader began more than a decade back in this very Forum. If you search in-depth there are layers and layers of immense knowledge buried in loads of threads and posts.
My purpose is very basic and simple i.e. to have a journal for myself, Of course, from Time To Time, I will try to post my Trading Plan and my Technical Analysis. I will try to dump all my Trades at one place and Learn and become better; Learning Never Stops neither do Stock Markets. You only learn from your mistakes right?
Now a question will arise: why ‘TheFailedTrader’?
Well My friend there is nothing called 90 % win ratio, 80 % win ratio in trades executed in stock markets. The first basics of basic RULE in the stock market are to manage your Failures, Your Looser Trades, and Accept the Loss of a CORRECT Trade on time. This is the stock market and I am probably going to post more looser trades than winners. And I can vouch as a Full-time Trader that even with a 30% win ratio you can still be successful in stock markets. Booking Loss in a Correct Trade according To Plan is a WIN. You manage 7/10 trades with either Stop losses hit, or small losses or break-evens. BUT you Milk those 3/10 trades till the END...
I Use 4 Screens, Multiple Timeframes, Moving Averages, and Indicators at Times. I Look at a lot of Detail and Ignore Lots. Markets are Dynamic, I Adapt and I Use my Eyes and Stick to My Plan. SO THIS IS MY POINT OF VIEW.
I Would Be Highly Obliged If All The Seniors Of The Forum, Professional Traders, And Beginners With Basic Knowledge of Technical Analysis Would Discuss Their Points of View Regarding My Posts. The Purpose of This Thread in This Esteemed Forum is Healthy Discussions and Upwards Learning Curve.
Disclaimer:
1) The Posts are Mainly to Maintain My Journal and for Educational Purposes. I am not responsible for your Losses.
2) Do Your Basics. Try to Gather Knowledge from Discussions Here; I am Not Providing Financial Advice here.
3) I May or May Not Have Positions in Trades. Do Not Follow Me Blindly.
3) I will try to answer only Relevant Questions.
Regards
TheFailedTrader