General Trading Chat

[pratapvb]

I was talking of a thread on just going through how I see the price action through these bands and vwap levels. But now not sure because

1. many people find my charts too complicated and hence don't want. Ofcourse my chart looks complicated because I am too lazy to keep switching around to see the various information and have them color coded.

2. In the thread I was just going to talk of interpretation and not entry exits. each person can use any element of this along with his/her system to get additional information if it helps. But not sure if that is what people want ... that is without any entry exits but just stating the key interpretation points in the day. Then how enties are taken whether on 2min pvts or 5min pvt or 5min bars is left to each persons personality

so still left in wondering mode of whether useful to anybody and hence to put in the effort or not

if atleast a few people are there then makes sense

 

[vivektrader]

I was talking of a thread on just going through how I see the price action through these bands and vwap levels. But now not sure because

1. many people find my charts too complicated and hence don't want. Ofcourse my chart looks complicated because I am too lazy to keep switching around to see the various information and have them color coded.

2. In the thread I was just going to talk of interpretation and not entry exits. each person can use any element of this along with his/her system to get additional information if it helps. But not sure if that is what people want ... that is without any entry exits but just stating the key interpretation points in the day. Then how enties are taken whether on 2min pvts or 5min pvt or 5min bars is left to each persons personality

so still left in wondering mode of whether useful to anybody and hence to put in the effort or not

Sir, please put in your precious time and effort, I want to learn.
Thanks
Regards
Vivek

 

[blackberry]

I think test for 7450 or in between due

tukka Done :clap::clap::clap::thumb:

 

[XRAY27]

Stop system hopping and master a given system.

This is friendly advice to all the person/s who are searching new system without mastering any system lets see what is system hopping ??

“System hopping” is essentially going from one system to another in an attempt to find a profitable strategy for trading.
While the idea of looking around for various trading strategies makes sense, the reality is that very few traders will give a trading methodology the appropriate amount of time to prove itself worthy or not, and will simply move onto other systems in the never ending search for profit.

Take example the MM of a system requires 1 to 1.5 Lakh for one lot of nifty aim for 5 to 10 % per month ,another also having same capital rules then what is the meaning of jumping to another one if the first one is working.

Trading systems are not like cakes With a cake, you can take a bite and you’ll know if it tastes good or not, but a system must be traded for a reasonable time before you know if it’s profitable or not, you can’t just take one trade and decide on its overall profitability. Furthermore, if you trade a system for a long period, chances are you’ll get better at it and your trading accuracy will increase. Changing systems everyday makes you shallow as a trader and you’ll end up going through 50 systems without mastering any. Settle on one, learn it well and stop hopping.

 

[Fundootrader]

tukka Done :clap::clap::clap::thumb:

whats the outlook post this - retest 7250 low or go high then fall

 

[Smart_trade]

ST Sir,
Can you please put your thoughts on what changes have you find in market behavior over the past 2 decades. Like: Market never used to gap open so frequently as these days(on the basis of historical data that i went from 2012 - 2015). Please take your time no hurries. I am sure lot of traders here, will be benefited.

The main difference in the markets 2 decades ago and markets now are as under :

1) Markets in earlier times used to trend much better. These days too many sideways days ,small move days.

2) Markets now are more transperent. The information which affects the markets get spread very quickly and available to all the traders. In earlier days the information used to be with large brokers and operators who used to guard it and use for their advantage through hot lines etc.

3) There used to much more manipulation in the market in old days...now it is much clean.

4) Number of winning traders and losing traders are almost same 95 % losers and 5 % winners...same in old days too....that has not changed.

5) These days traders use hi-tech systems ,charting etc...in olden days there used to be very crude way of "short if yesterdays close is not held....long if trading above the close of yesterday....or 7 day RSI and things like that...but with more sophisticated tools, the losing traders numbers are not reduced....

6) There used to be good friendly relations in traders as most of them used to meet at broker's office or trading ring....these days the relations are
impersonal.

7) Olden days used to have very poor margining system and settlement used to be on T +14 and hence the losses used to mount and become heavy in those 15 days...now with new margining system losses are in control though some manage to make large losses despite margining system.

8) In old times arbitrage and either position badla or Vyaj Badla used to be main line of business of many traders.Now these have become non existant due to STT and low margins in arbitrage.

Smart_trade

 

[insursi]

Stop system hopping and master a given system.

This is friendly advice to all the person/s who are searching new system without mastering any system lets see what is system hopping ??

“System hopping” is essentially going from one system to another in an attempt to find a profitable strategy for trading.
While the idea of looking around for various trading strategies makes sense, the reality is that very few traders will give a trading methodology the appropriate amount of time to prove itself worthy or not, and will simply move onto other systems in the never ending search for profit.

Take example the MM of a system requires 1 to 1.5 Lakh for one lot of nifty aim for 5 to 10 % per month ,another also having same capital rules then what is the meaning of jumping to another one if the first one is working.

Trading systems are not like cakes With a cake, you can take a bite and you’ll know if it tastes good or not, but a system must be traded for a reasonable time before you know if it’s profitable or not, you can’t just take one trade and decide on its overall profitability. Furthermore, if you trade a system for a long period, chances are you’ll get better at it and your trading accuracy will increase. Changing systems everyday makes you shallow as a trader and you’ll end up going through 50 systems without mastering any. Settle on one, learn it well and stop hopping.

Very well said XRAY!!! :clap::clap:

 

[Smart_trade]

The above post has been written based on my own experience of trading 2 decades back and now...some of the points were my own handicaps( like info used to be kept secret ) in those days and hence I know them very clearly.The trading is much more clean now than before with everyone having equal chance of succeeding in it..

Smart_trade

 

[pareshR]

Stop system hopping and master a given system.

This is friendly advice to all the person/s who are searching new system without mastering any system lets see what is system hopping ??

“System hopping” is essentially going from one system to another in an attempt to find a profitable strategy for trading.
While the idea of looking around for various trading strategies makes sense, the reality is that very few traders will give a trading methodology the appropriate amount of time to prove itself worthy or not, and will simply move onto other systems in the never ending search for profit.

Take example the MM of a system requires 1 to 1.5 Lakh for one lot of nifty aim for 5 to 10 % per month ,another also having same capital rules then what is the meaning of jumping to another one if the first one is working.

Trading systems are not like cakes With a cake, you can take a bite and you’ll know if it tastes good or not, but a system must be traded for a reasonable time before you know if it’s profitable or not, you can’t just take one trade and decide on its overall profitability. Furthermore, if you trade a system for a long period, chances are you’ll get better at it and your trading accuracy will increase. Changing systems everyday makes you shallow as a trader and you’ll end up going through 50 systems without mastering any. Settle on one, learn it well and stop hopping.

I fear not the man who practised 10,000 kick once, but I fear the man who practised one kick 10,000 times _ Bruce Lee

 

[Smart_trade]

Stop system hopping and master a given system.

This is friendly advice to all the person/s who are searching new system without mastering any system lets see what is system hopping ??

“System hopping” is essentially going from one system to another in an attempt to find a profitable strategy for trading.
While the idea of looking around for various trading strategies makes sense, the reality is that very few traders will give a trading methodology the appropriate amount of time to prove itself worthy or not, and will simply move onto other systems in the never ending search for profit.

Take example the MM of a system requires 1 to 1.5 Lakh for one lot of nifty aim for 5 to 10 % per month ,another also having same capital rules then what is the meaning of jumping to another one if the first one is working.

Trading systems are not like cakes With a cake, you can take a bite and you’ll know if it tastes good or not, but a system must be traded for a reasonable time before you know if it’s profitable or not, you can’t just take one trade and decide on its overall profitability. Furthermore, if you trade a system for a long period, chances are you’ll get better at it and your trading accuracy will increase. Changing systems everyday makes you shallow as a trader and you’ll end up going through 50 systems without mastering any. Settle on one, learn it well and stop hopping.

Very good post on systems hopping. One can incorporate good trading ideas he learns in his system but changing systems one after another is not a good practice. Every system has its winning and losing periods and trader cannot pick and choose only the winners.The secret to success is make more when the trade is successful and lose less when it is not.

A good idea is go for the system based on good trading principles and the one which you like and enjoy trading...most likely that system will be in tune with your mindset....every trader has different mindset and beliefs so two successful traders also very rarely will trade identical systems..


Smart_trade