General Trading Chat

[Henzy]

Hello am new on this site please me meet up with the best standard i deal on product use to produce drugs can i post my contact on the site

 

[vivektrader]

this is a dangerous game to play, it worked this time but it gave bad lesson ... Atleast make sure to test this theory for few months on reduced size.
Anyway, Everyone has a diff mindset of managing trades. I am trying to do opp and i think i am finally able to accept small loses when entering trades rather than taking full SL waiting with hope.

Hi, TB I think it's an art to get out of a trade before it hits the SL. How do you decide?Do you differentiate between long and short trades? I mean do you have more faith in shorts and more often accept SL hit in short than in long?
Thanks

 

[Vipul_84]

How many Nifty points per month, you call as mediocre performance? Just curious ...

Yes....profitable trading is not easy. But then one can go for some easy stuff like camerilla pivots etc if you can trade it profitably.or go for some mech syst like super trader and be happy with mediocre performance of the system.

It needs years of practice.

ST

 

[arsh22g]

this is a dangerous game to play, it worked this time but it gave bad lesson ... Atleast make sure to test this theory for few months on reduced size.
Anyway, Everyone has a diff mindset of managing trades. I am trying to do opp and i think i am finally able to accept small loses when entering trades rather than taking full SL waiting with hope.

I understand that having large loss hits (~50 SL) over a long time is dangerous, my usual risk taking capacity is 15 points on a trade (i.e. 30 point move in NF). Only today went till 50 points in NF, but other signs were telling me that bullish move might not sustain, so just sat on losses for a few hours.

I have observed that if I hit a loss, sometimes I tend to lose my cool and go into loss recovering mode, which anyway costs me a lot of points on the long run. So, it's just a decision about taking one big loss vs 2-3 small ones.

Having said that, your point is absolutely correct and it is always at the back of mind

PS : I am big fan of CIS, who always takes small losses, so I am from that school too. But NF can be really volatile sometimes, so it's a trade off between broad parameters reading vs PA. Mature markets (like Japan, where CIS operates) are less volatile, as money required to move is huge as compared to NF.

 

[Smart_trade]

How many Nifty points per month, you call as mediocre performance? Just curious ...

Below 100 points per month on average or 1200 points per annum after all the costs is mediocre in my view.

Below 150 points is on lower side .... above 200 is good...above 250 is excellent.....above 300...sky is the limit...it may vary from person to person.I have not considered adds...these are single position gains.

ST

 

[333]

India's Q3 FY16 GDP @7.3%, let see how our market digest it

 

[TracerBullet]

Hi, TB I think it's an art to get out of a trade before it hits the SL. How do you decide?Do you differentiate between long and short trades? I mean do you have more faith in shorts and more often accept SL hit in short than in long?
Thanks

No no art, i am still learning to trade and have plenty of problems to deal with.

Just follow 2 things taken from ST posts. these we can do for BO trades as we expect some momentum. It may not be suitable for other type of trades.

1) Strong BO - Expect BO area / Pivot to hold. To quote

When any bar closes above the PL the market had broken and then the high of that bar is taken out, that time it is almost certain that we have a PL breakdown failure at hand

2) Weak BO - Exit at BO Bar if pivot to far. I also think we can exit at roughly 1min pivot if BO Bar is to far, but generally prefer BO bar.

This means we take many small losses, trade off is that we will get out of some trades that would have worked otherwise. So it also calls for re-entry which i need to get used to.
But basic premise for me now is take a small loss every trade, only v rejection will give full loss else i get out earlier with small hits. Main aim is to capture trades that move fast from entry, these will recover atleast 3-4 stops.
I have great capacity of hesitation when trend is moving and i missed initial point. I think its because i hate big stop losses and hate to see weak entry. I hope this entry style will allow me to take risks more confidently, lets c ...

 

[vivektrader]

No no art, i am still learning to trade and have plenty of problems to deal with.

Just follow 2 things taken from ST posts. these we can do for BO trades as we expect some momentum. It may not be suitable for other type of trades.

1) Strong BO - Expect BO area / Pivot to hold. To quote

2) Weak BO - Exit at BO Bar if pivot to far. I also think we can exit at roughly 1min pivot if BO Bar is to far, but generally prefer BO bar.

This means we take many small losses, trade off is that we will get out of some trades that would have worked otherwise. So it also calls for re-entry which i need to get used to.
But basic premise for me now is take a small loss every trade, only v rejection will give full loss else i get out earlier with small hits. Main aim is to capture trades that move fast from entry, these will recover atleast 3-4 stops.
I have great capacity of hesitation when trend is moving and i missed initial point. I think its because i hate big stop losses and hate to see weak entry. I hope this entry style will allow me to take risks more confidently, lets c ...

Thanks buddy, its enlightening.

 

[Smart_trade]

Below 100 points per month on average or 1200 points per annum after all the costs is mediocre in my view.

Below 150 points is on lower side .... above 200 is good...above 250 is excellent.....above 300...sky is the limit...it may vary from person to person.I have not considered adds...these are single position gains.

ST

So everyone can measure his performance himself.....if hitting lower points per month, one needs improvement...work silently on it.....no need to post your score here.

But if anyone is hitting over 300 points consistantly for 12-18 months ( consistancy is a catch here not like -150 in one month and 400 in the next...) he is a star trader and has very bright future in trading.Here considering max 1 % risk per trade and never a peak to valley drawdown of over 10 % .

Smart_trade

 

[Vipul_84]

Mediocre is what I should aim for as of now ....

Thanks Sir. I am really happy to get these figures from a veteran you. And you said all this is possible with some mechanical systems. Thats great Sir, thanks again for your reply.

What I am capturing from all these posts is that if I can survive for first 5 years, I can make good career in trading. Now, I am looking for some mechanical system to make 1200 pts per year.

Your post says Super Trader system, whats that sir? Is it Super Trend? Any other system for this performance?

Below 100 points per month on average or 1200 points per annum after all the costs is mediocre in my view.

Below 150 points is on lower side .... above 200 is good...above 250 is excellent.....above 300...sky is the limit...it may vary from person to person.I have not considered adds...these are single position gains.

ST