General Trading Chat

[mudraatrader]

Where's Ravi Bhai?

Modiji Style-
Mitro,aaj tuktuk day hai,aur hame tuktuk pe garv hai,isliye aaj ka din Tuktuk Day of India kehlaayega

We'r in the range of 1st bar(15TF)..Expecting Red Chillies thus holding it..Else Baba Ji ki Margi

No
I dont think today will be a tuk tuk day
A big move likely soon.

 

[mudraatrader]

snakobaba (The Evil Force against God) ki entry ho chuki hai bhai, aj ye SL hi hit karwayenge

No snakoba is no evil force.
What I understood
snakoba in this thread is meant for a vertical move, any direction

 

[madank]

ST Da/Madan,

What is the longest series of losing trades that you have faced in day trading?

What is the longest number of continuous losing days that you have faced in day trading?

Wisp,

No experience in day-trading as such. I have done 5 months of daytrading last year to see what it is...then, it was taking a toll on me and fortunately, there was no need to do daytrading for me..Just fortunate that way !!

1. I can talk about losing streaks on swing trading. I easily get 8-10 losing streaks in a row (as my system is 38-40 pct winning system) 2-3 times in a year atleast..5-6 winning trades as well

2. I dont know about continuous losing days (as i dont daytrade) but time DD is very demoralizing.I have had 4-5 months of DD multiple times in the last 10 years before i see the peak. Knowing system's probability of winning and the average time the system dips into DD will help here. Am not referring to account drawdown..we are talking about time DD.

So, if one has a system which makes money every month - great. Keep doing what you are doing. But not everyone is fortunate or savvy enough to have that kind of system. If you are part of the latter crowd, just prepare yourself for your system's expected time DD(add 50% more time to it) so that your trading routine should not get disturbed.

All these things matter only when your trading account size is small (btw, account size is a subjective topic..needs differ for everyone). Once you get to a bigger size, these things will not matter as you would have set aside enough(or passive income) that can compensate for a couple of year of time DD as well. So, battle-cry is to cross that 1-1.5 cr as account size. On a side note, the higher the timeframe one trades, the less number of trades and more chances of a bigger time DD. Please be cognizant of that fact !!

Am pasting a link that talks about winning percentage anf losing streak chances over 10000 trades...This is statistics( based on random sequencing and Monte carlo simulation..i have 100% faith in math) and we are not above it. We will experience this over the long run.

http://prntscr.com/azaic3

Hope it helps !!

 

[Smart_trade]

BB converging...expect a good move shortly. Direction left to Babaji and his followers" prayers.

Smart_trade

 

[copypasteaee]

No snakoba is no evil force.
What I understood
snakoba in this thread is meant for a vertical move, any direction

no it means sw narrow move.

 

[mudraatrader]

BNF 16760 de do babaji
abhi 16650 hai

 

[copypasteaee]

looks like it will fall badly

 

[mudraatrader]

NF 7850 de do baba ji
abhi 7822 hai

 

[pravi_kanth]

As far as I remember, longest spell of losing trades in daytrading was about 10-12 continuous losing trades. But worst is after long spell of losing trades we get few winning trades and losing trades spell starts again.

Continuous losing days about 5-6 but 2-3 months of flat trading where nothing seems to be going your way. Anything you do does not seem to work. I have encountered such 2-3 months spell which is very frustrating and heavy on mind. You have to take such spells in your stride and that is why position sizing and MM is very important.

There is bright sunlight at the end of dark tunnel and after such spell we get huge trending moves. But one has to survive in these dark tunnel period.

Smart_trade

Da, many times you said about MM and positions. Could you please explain more on it.

 

[mudraatrader]

looks like it will fall badly

BNF broke 16650 and fell to 16611 and then recovered smartly
Now chance is less.

But market is supreme
We can read the steps it follow but not the ultimate.


On the other side NF has also started moving up.