General Trading Chat

[Pradeep Narayan]

Thanks ST, I know I need to train my mind... but it is difficult not to book loss or profit at my earlier "absolute figures" during day trade - while knowing that I need to scale up... I need to get over this mental block... sadly, there is no much information on this one - guess this is part of the trader evolution and is unique to each person.

 

[Somatung]

@Pradeep Narayan

You may should take once your time to listen to this guy: William Greenspan (Legendary Floor Trader): https://www.youtube.com/watch?v=uLSkiAlQJ0w It is an old video and still it is a very new video. In the first ten minutes or so he is pointing to the problem you mentioned you face.

Coming to your question from my side: Some are great traders with five, ten or twenty lots but are miserable traders with more lots, as they face fear which they not will over come in some cases when trading bigger amounts of lots. If so, then do accept it and do only trade in your "Comfort Zone". Do forget about the rest and stay with the amounts of lots you feel comfortable to handle. Not all are born to trade big amounts of lots. No shame in this instead a good behavior to protect your self against huge losses when it comes to this specific mental point in trading.

Most important: The end result of your trades must be in green as you trade in your "Zone".

Adding this: If what you traded in the past (Trading plan with your trading strategy) did work well and you did slowly increase your size of lots you trade today, then in general you should not feel bad when you trade bigger amounts of lots, as the past has proved the success by what you trade. Do not go to your limits you could trade with, as when you make losses under such circumstances it will hurt.

Take care / Dan

 

[Pradeep Narayan]

Thanks Dan.. Trading in the Zone happened only after 2 account blow-outs. And, when it happened - the lot/position size reduced

I was more brash when I was loosing & more cautious now when I am winning most of my trades. What a mental dilemma - earlier I increased position size, over traded and made losses. Now I make profits, but am unable/scared(?) to increase position size.

I shall watch the video and also put a plan of action... and share it.
Thanks

 

[lemondew]

Fully agree its tough to get detached with the money part and get attached to the numbers. Increase in size gets us a tendency to press and book small % profits as that still means good money. I guess most ve felt it.

Thanks ST, I know I need to train my mind... but it is difficult not to book loss or profit at my earlier "absolute figures" during day trade - while knowing that I need to scale up... I need to get over this mental block... sadly, there is no much information on this one - guess this is part of the trader evolution and is unique to each person.

 

[cloudTrader]

Hello ST bhai,

It seems you are missing the point.

When we talk of responsibility, one must acknowledge that it should be a two way street.

From the time admin got into a "substantial" posts only mode and started deleting posts deemed "non substantial" , members have repeatedly asked the admin to communicate changes in code of conduct and also if posb the reason why a persons post is deleted.

Unfortunately admin has not replied even once since the whole "clean up" began.

The attitude definitely comes across as taking posters for granted.

I think shri man mohan singh spoke more than what traderji/admin has managed.

Anyway, his forum, he knows best !

After a long silence you got enlightened ...

 

[Somatung]

Nifty and the Dow Jones did nicely correlate in the last few months with each others. But since a few days it seems they start to drift away from this behavior. Your market makes nice attempts to move further up and the Dow makes some attempts to may further move down.

 

[cloudTrader]

Costlier Mangoes in the coming summer !

Mango exports may jump up to 50 per cent next fiscal: Agriculture Minister Radha Mohan Singh

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

Provided nature blesses to allow a good produce ...

 

[cloudTrader]

Nifty and the Dow Jones did nicely correlate in the last few months with each others. But since a few days it seems they start to drift away from this behavior. Your market makes nice attempts to move further up and the Dow makes some attempts to may further move down.

Euphoria growing in contemplation of the upcoming traditionally popular Union Budget of India ...

 

[Pradeep Narayan]

Nifty and the Dow Jones did nicely correlate in the last few months with each others. But since a few days it seems they start to drift away from this behavior. Your market makes nice attempts to move further up and the Dow makes some attempts to may further move down.

Dow is on the top band of Andrew's Pitchfork... Nifty on the bottom. See the weekly or monthly charts for the last 3-5 yrs.

 

[cloudTrader]

Microsoft Unveils WINDOWS 10

http://money.cnn.com/2015/01/21/technology/windows-10/index.html?iid=Lead