General Trading Chat

[arsh22g]

Let's keep an open mind and bigger ambitions, as some say it's 80% psychology and remaining system and RM/MM. Then why not try to maximize on the psychology part by testing "yourself" on the market and not the system/technicals/RM/MM.

It's a personal choice, if I don't get the "ras" (Hindi word) out of what I am doing, I better look for something else where I do get that. First priority is enjoying what I do, if money was my first priority, I wouldn't have left a S$ 100k job (pretty good for a 26 year old) to earn peanuts on trading my starting capital (which I am down by 50% in last 10 months). Wisdom and curiosity should go side by side, hope I am taken as a "seeker" and not as a"fanatic" in trading.

PS: No disrespect to seniors' views, but just throwing some light on my viewpoint about trading. I am perfectly fine with not being a successful trader, I believe I have enough talent to hop on to something else, but I am definitely not fine by being working just for money and not exploring myself as well as my "play-field".

 

[Krishan86]

Let's keep an open mind and bigger ambitions, as some say it's 80% psychology and remaining system and RM/MM. Then why not try to maximize on the psychology part by testing "yourself" on the market and not the system/technicals/RM/MM.

It's a personal choice, if I don't get the "ras" (Hindi word) out of what I am doing, I better look for something else where I do get that. First priority is enjoying what I do, if money was my first priority, I wouldn't have left a S$ 100k job (pretty good for a 26 year old) to earn peanuts on trading my starting capital (which I am down by 50% in last 10 months). Wisdom and curiosity should go side by side, hope I am taken as a "seeker" and not as a"fanatic" in trading.

PS: No disrespect to seniors' views, but just throwing some light on my viewpoint about trading. I am perfectly fine with not being a successful trader, I believe I have enough talent to hop on to something else, but I am definitely not fine by being working just for money and not exploring myself as well as my "play-field".

Nice signature !
Btw, i am also on same boat, only difference being i am up 50% in last 1 month, all credits to ST Sir's Oscillator thread

 

[Krishan86]

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

Thank you for your reply !
That gives lots of insight in what used to be in earlier days vs now. I am pretty much new to this field(only 6 months old), i quit by day job(highly paid) to pursue trading full-time (and now i am profitable for past 3 continuous months). All thanks to ST sir's Oscillator & Thought on swing trade thread. These 2 threads taught me in a month, which i could not learn in a year from various sources :clap:

The reason i asked this question was, to get an idea as what kind of challenges are in store for us, say 5 years down the line, will it still be profitable or trending days will diminish further. Just a thought.

 

[vivektrader]

When I was asking Pratap sir to invest time (for us learners), system hopping was the last thing on my mind. I understand that such a habit can only be detrimental. But learning something new should always be welcome. If ST sir can be so excited about OFA after so many years of experience, that speaks of only one thing, that we should be students of this market, and that's what I want to be.
Regards
Vivek

 

[niftytaurus]

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

Dear Pratap Sir
Please share whatever you want to share..Its really helpful to many traders..
There are so many silent followers of yours & your method..but I interact whenever i need to ask queries.
one thing I want to tell, I have read so many books in last 3 years & read so many sites..but couldnt find MY System..but from last 1 year, I stopped Reading a single book & I didnt read any new site & concentrate only on charts & Price Action..
In June-2015,I have got amibroker,historical data..I am very much thankful to Fellow Trader Rajesh Bro for this..He helped me in Setting Amibroker,data & Pratapbhai's afl..No Words can express my gratitude to him..it opened a new world of backtesting/bar replay to test my system/trading skills..

Pratap Bhai, you are really a gem of a trader & person..you have shared some very useful afl with us..it really changed my trading forever..I have read every single post & every chart ..& observe those things on many charts..besides, I know that Pratap bhais is from school of pivot/trend..& I did hard work on shubhadeep's bro method also to learn pivots,trends which is building block for many method..

Many Trader think Pratap bhai's method is complicated & its AFL method or Mechanical method..Its Not of any..Its very simple menthod..Though we use AFL , but its Pure Price action method..its not mechanical which gives ATM key to you just like Plug & Play..but IT IS one of the best METHOD,which can give you a whole structure of market..it gives you so many buliding blocks..Every trader need to explore for themselves according to his PA reading/psychology/comfort..It will give you Proper arms/tools to go on brutal war of market ..but now its up to every trader, how much hardwork/skills he do to Use that ARMS properly..It has infinite possibilities..
Trust me you didnt get Only ATM key But also a Treasure..IF you know How to use it..
who can teaches us better than Inventor of this method! So please Pratap Sir, please share whatever you can..Every single word has value if somebody takes it as a True Seeker..
Thanks a lot
Regards

 

[vijayanscbe]

Let's keep an open mind and bigger ambitions, as some say it's 80% psychology and remaining system and RM/MM. Then why not try to maximize on the psychology part by testing "yourself" on the market and not the system/technicals/RM/MM.

It's a personal choice, if I don't get the "ras" (Hindi word) out of what I am doing, I better look for something else where I do get that. First priority is enjoying what I do, if money was my first priority, I wouldn't have left a S$ 100k job (pretty good for a 26 year old) to earn peanuts on trading my starting capital (which I am down by 50% in last 10 months). Wisdom and curiosity should go side by side, hope I am taken as a "seeker" and not as a"fanatic" in trading.

PS: No disrespect to seniors' views, but just throwing some light on my viewpoint about trading. I am perfectly fine with not being a successful trader, I believe I have enough talent to hop on to something else, but I am definitely not fine by being working just for money and not exploring myself as well as my "play-field".

Always the Generic advice will be Play safe. If you never go broke with continuous failures while exploring new things and passionate in achieving bigger, then the Generic advice is not for you.

Never left a stone unturned.

 

[vikas2131]

Always the Generic advice will be Play safe. If you never go broke with continuous failures while exploring new things and passionate in achieving bigger, then the Generic advice is not for you.

Never left a stone unturned.

The only thing Edison succeeded in stealing tesla's work and take the credit for it :lol::lol:

 

[arsh22g]

The only thing Edison succeeded in stealing tesla work and take the credit for it :lol::lol:

That's a part of the evolution and quite natural, morals are forced upon by the society. And to Tesla's credit, he was just too awesome (and one of my ideals) to care for money or recognition, maybe it was good that a business mind like Edison stole and commercialised it for the World.

 

[vijkris]

Dear Pratap Sir
Please share whatever you want to share..Its really helpful to many traders..
There are so many silent followers of yours & your method..but I interact whenever i need to ask queries.
one thing I want to tell, I have read so many books in last 3 years & read so many sites..but couldnt find MY System..but from last 1 year, I stopped Reading a single book & I didnt read any new site & concentrate only on charts & Price Action..
In June-2015,I have got amibroker,historical data..I am very much thankful to Fellow Trader Rajesh Bro for this..He helped me in Setting Amibroker,data & Pratapbhai's afl..No Words can express my gratitude to him..it opened a new world of backtesting/bar replay to test my system/trading skills..

Pratap Bhai, you are really a gem of a trader & person..you have shared some very useful afl with us..it really changed my trading forever..I have read every single post & every chart ..& observe those things on many charts..besides, I know that Pratap bhais is from school of pivot/trend..& I did hard work on shubhadeep's bro method also to learn pivots,trends which is building block for many method..

Many Trader think Pratap bhai's method is complicated & its AFL method or Mechanical method..Its Not of any..Its very simple menthod..Though we use AFL , but its Pure Price action method..its not mechanical which gives ATM key to you just like Plug & Play..but IT IS one of the best METHOD,which can give you a whole structure of market..it gives you so many buliding blocks..Every trader need to explore for themselves according to his PA reading/psychology/comfort..It will give you Proper arms/tools to go on brutal war of market ..but now its up to every trader, how much hardwork/skills he do to Use that ARMS properly..It has infinite possibilities..
Trust me you didnt get Only ATM key But also a Treasure..IF you know How to use it..
who can teaches us better than Inventor of this method! So please Pratap Sir, please share whatever you can..Every single word has value if somebody takes it as a True Seeker..
Thanks a lot
Regards

@niftytaurus Aapne mere mann ki baat jahir kardi.
I joined tj on 2013 and this was my 2nd post made on oct 2015 !.

Hi,
I have previously saved pratap sir's vwap thread until 20 june 2014. I think the pdf file shared by rajesh contains data upto jan 2014. if anyone is interested then i will post the remaining data until 20june 2014.
regards.

I was a silent fellow since 2013 and painfully saved lot of posts of vwap thread and was beneficiary of the good work by pratap sir.

In most of the posts pratap sir repeatedly said enter on pivots or 2 bars etc etc, which I never understood.
My stupid mind was thinking of camrilla pivots :lol:

Only after subhadip sir thread, I understood what pratap sir meant by pivots.

In short , I also request pratap sir to share.. There are many people who r silent and will never reply but wil get benefitted.

thanks

 

[Fundootrader]

Nice signature !
Btw, i am also on same boat, only difference being i am up 50% in last 1 month, all credits to ST Sir's Oscillator thread

which thread - plz share