General Trading Chat

[Smart_trade]

I have found that all the analysis is fine but the price has to be in tune with the analysis....if analysis saying top and market is going up...I wont go short unless the market action confirms my analysis. Price is the KING.

Smart_trade

Note for new traders : The above sentense is very important. In my early days I used to do lots of analysis....EWT,DeMark,Patterns, oscillators,,Gann....various systems and I used to take position based on this analysis. Many times the market used to decide to do opposite action giving me trading losses inspite of all the analysis. It is only when the market action and analysis both are in harmony, I started on the winning path. It took me fair amount of time and trading losses to understand the importance of the above quote.

Smart_trade

 

[vagar11]

Trying to take an early entry and got burn many times.

Got burn in the last 2 trading days trading with options. Lessons learnt.

1. Don't trade with a highly leveraged amount. You will chicken out and exit even before it hits the stop loss.
2. Better sit out and not make a trade, instead of a loss. A loss will have negative impact on your psychology and you will try to recover the losses which in turn will lead to more losses.



Now, sitting out for atleast 6-7 trading days. Not going to read any new strategy in hopes of finding the holy grail. Now, will watch the market with patience and will make trade when I am really sure.

 

[manish9300]

Complicated analysis

Simple analysis

Which one do you prefer?

 

[XRAY27]

Everybody has to start somewhere though and systems/methods/setups are the place to start, otherwise we will never learn anything as a newbie if one comes and says one wants to make their own system before they start trading. I think we need to pick a system/method trade it, make some profits, then do whatever is necessary to modify the system/method, create your own to become more successful. ST Da probably was refering to pheonomenally successful traders.

Bhai !!!

"Yad bhavam tad bhavati" means in english "You become what you believe.”

successful traders don't follow same system as xerox copy,they make there own tweaks ...whether super successful or normal trader with decent track record..this is what i understood and also seen in my little experience among my circle of traders.

 

[manish9300]

Simple analysis

Which one do you prefer?

Box is master candle( candle body is used and not High low range.3 close inside forms the box.)Trade away from the red line(MA21).

 

[wisp]

Bhai !!!

"Yad bhavam tad bhavati" means in english "You become what you believe.”

successful traders don't follow same system as xerox copy,they make there own tweaks ...whether super successful or normal trader with decent track record..this is what i understood and also seen in my little experience among my circle of traders.

Bro,
I respect your views as you know, but in this case, I beg to differ. All I am saying is no one can improvise or come up with their own system and succeed without some practical experience in the market. To gain that experience one has to learn something somewhere, trust it and follow it for a while. After some practical experience, can improvise, develop a new system, etc. Since my level of intelligence is quite ordinary, I dread to think what would have happened to my psyche and my account had I developed my own system before I started trading I think this applies to any field.

I reserve the right to be totally wrong in my view

 

[vijkris]

Bro,
I respect your views as you know, but in this case, I beg to differ. All I am saying is no one can improvise or come up with their own system and succeed without some practical experience in the market. To gain that experience one has to learn something somewhere, trust it and follow it for a while. After some practical experience, can improvise, develop a new system, etc. Since my level of intelligence is quite ordinary, I dread to think what would have happened to my psyche and my account had I developed my own system before I started trading I think this applies to any field.

I reserve the right to be totally wrong in my view

bro, I respect ur view, and in some way I totally agree with u. without a foundation, building cannot be constructed.
in the same way we, ordinary level of intelligence fellows need a system which is followed by successful traders. so that good psych and discipline is developed.
After achieving this we can think of creating/improving the system/method.

 

[pratapvb]

boring but fruitful day ....15ama not violated yet

 

[vijkris]

Bhai !!!

"Yad bhavam tad bhavati" means in english "You become what you believe.”

successful traders don't follow same system as xerox copy,they make there own tweaks ...whether super successful or normal trader with decent track record..this is what i understood and also seen in my little experience among my circle of traders.

xray bro, what r the qualifications required to enter in your circle of traders?

 

[XRAY27]

Bro,
I respect your views as you know, but in this case, I beg to differ. All I am saying is no one can improvise or come up with their own system and succeed without some practical experience in the market. To gain that experience one has to learn something somewhere, trust it and follow it for a while. After some practical experience, can improvise, develop a new system, etc. Since my level of intelligence is quite ordinary, I dread to think what would have happened to my psyche and my account had I developed my own system before I started trading I think this applies to any field.

I reserve the right to be totally wrong in my view

Thanks for enlightening me