General Trading Chat

[systrader]

At dis moment SGX is down 40

Right, but you are showing only half truth,
and perhaps you are not looking at the reality

now SGX is 8,214.00 -42.50 -0.52
OK, for SGX it is -42.5 points, but as per my calculation it is + 37 points for CNX NIFTY fut (if opened today)

 

[TraderRavi]

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

 

[XRAY27]

buddy this time m very focused , dont take me lightly, I will snatch money from operators for sure now

 

[TraderRavi]

ST Da,

Ravi's signature say "Actually there is a small number of day traders - maybe 1% - who make money day trading."Is it really true ???

Whats your experience on success as a day traders...I can find many successful day traders in this forum itself..1% seems to be too low.

bhai , as per zerodha only 100 out of 2000 traders made 10% (average 3% per month)in 3 months of trading (they released 60 day challenge stats). out of these over 70 - 80% traders have more than 5lakhs in account and over 60% are kinda swing traders. so only 40 daytraders (2%) made any kind of money and out of these how many made average 8 -10% per month , that number is even less. so you can see yourself.
and how many daytraders successful in the long term ( > 5years) like ST ,you know in TJ ?

 

[Smart_trade]

Why traders fail in daytrading and the factors responsible for success has been known to every trader.They have been discussed at length in every forum including TJ.

Traders themselves have to focuss on areas which they feel they are weak....traders who are successful can guide and show the direction but they cannot make a successful trader out of a loosing trader...that the trader has to work on himself.Capital,method,hit rate,RR, MM ,stops,profit taking everything is important and traders have to constantly think how they can improve on these points. Any weak link makes the complete chain weak.

Day trading is more difficult because the margin of error is small and a trader is exposed to market uncertainties more often.

Smart_trade

 

[sudoku1]

dear shani/shakuni, you are such a pessimistic , negative energy flows from your posts :annoyed:

our mind is like a radio set..v receive signals as per d frequency v set.a negative set frequency wil catch only negative clues while discarding d positiv ones n in d proces strengthning d false beliefs.Its high time befor u adjust ur set away frm d neg frequency.

 

[Smart_trade]

Ravi, has Zerodha released latest 60 days challenge statistics or these are old numbers ? If so link please..I thought latest numbers will be better because these days there is lot of awareness about being profitable and 60 days challenge must have helped in that direction.

ST

 

[TraderRavi]

Ravi, has Zerodha released latest 60 days challenge statistics or these are old numbers ? If so link please..I thought latest numbers will be better because these days there is lot of awareness about being profitable and 60 days challenge must have helped in that direction.

ST

no , this data is old, they promised to release new data in few days but not released so far .......

 

[Smart_trade]

Actually from the 60 days winners list they have to knock off "marginal winners" or guys who stopped trading once account came Rs 100-500 in profits to get into the winners list and get the brokerage back. Traders making over 10 % are the real winners...and over 5 % per month or 15 % in 3 months could be considered profitable traders.

Smart_trade

 

[Smart_trade]

Little bit of thinking and traders can dramatically change the RR from the set ups they trade....just one example..

I have posted a picture of a simple head and shoulder pattern ( please fergive my paint skills drawing with a mouse ) ....the head is 2 R above the neckline, the right shoulder is at 1 R and the pattern target is 2R as we all know...

Some traders will sell on break of the neckline and keep a stoploss at the high of the head...so risk = 2 R ,Rewards = 2 R so RR of 1:1

Some will keep stoploss at the right shoulder or at 1 R so risk =1 R reward = 2 R so RR =2:1

Some will say that after breaking the neckline, the price has no business to come above it...so keep stoploss at half the right shoulder...so Risk = 0.5 R ,Reward = 2 R so RR =4...

Some will even keep at 1/4 R above the neckline...so Risk =1/4 R , Reward = 2 R so RR = 8:1

Of course the tradeoff is with higher RR, the hit rate will go down...but someone will say I prefer 8:1 RR with hit rate of 40 % than a 2:1 RR with a hit rate of 60%.....

Many simple setups can be improved for giving better RR as discussed above...

Smart_trade