1 year of screentime, mostly demo or paper trading except the last two months on live account. risk every trade is roughly 5-12% depending on the type, size of the position, reward 13-22% again it depends.
Every trade is based entirely on the charts
type of trades
1. trades based on daily charts ( may take few days)
2. trades based on hourly charts (takes 2-6 hours)
3. trades based on 5 min charts( highly leveraged, closed within one hour)
now when you ask number of trades it really dosen't matter but roughly I trade 1-10 time a week cose I have a full time job too. its about the quality not the quantity.I only trade when I see clear signals otherwise I Dont trade.
any more questiontion Ash paul, most welcome but i wasn't expecting these questions form you instead i was hoping i can ask questions from you cose if you remember you recommended me forex and offcourse you have more experience and " screentime " than me.
Thanks for replying, you might be thinking that I am picking on you, I wasn't actually.. how could I, if I am an amateur trader myself. , I have spent 10+ hours each day starring at the charts, analysing it in the persuit of knowing my market and myself from only past 2 years.. I have given up my fulltime job/ my friends etc the day when I realised that trading requires lots and lots of skills, which was not visible in my early days. I have gone through your situation when I made these kinds of returns risking 10% of my account in one go during my Unconscious Incompetence.. And just to let you know I was a complete failure, so frustrated that even I could hardly sleep thinking, tomorrow I have to wake up early in the morning and figure this out.. You dont wanna know, even now I am not even close to a consistent trader, and I dont have any shame accepting that, I might end my book in green in some days but again I break my rules set in my trading plan and then start all over again. Well at least I know that I dont need to hunt for better strategies because I know a good method is one of the many pre requisites to profitable trading. Like being correctly capitalized, having a good PC and internet connection, having a broker that gives good fast fills etc. But you could give a crap trader all these things and also give them a really good trading system too and they will still fail to make money in the long run.
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That doesnot mean that you have to go through all these, may be you are one of those lucky ones who has cracked everything too early or maybe I am in a wrong business.. good for you mate. Infact well done!! The point is even the best traders I have read about or seen personally have taken 3-5 years (10,000+ hours of screen time)to reach a level where they could be called 'a successful trader'.
No, again I am not bashing you out..Just trying to warn you that this is a serious business where only 5% succed, that means 95% failure.. so if there are 1000 traders in India only 50 traders will succed and the rest 950 traders are doomed to fail.. your have to beat those trading robots programmed by top banks, hedge funds and other pros just to give you an idea..
I know you may not want to listen to all these, I didn't but now I am. Simple logic any profession say for example becoming a doctor requires 7+ years of uni/college education during that period you study on the subjects pay for the tution fees and lot more then only you start a job/clinic then you are looking for a decent salary/income and by experience your pay check increases.. it makes sense, then why not people think trading is also a similar or better profession which requires experience/time/ blood etc etc.. How come it would be that easy that after 6 months of experience will get you to a position making 200%+ return each month.. come on man you must be kidding with even half of the return each month consistently any one will acquire enough wealth to wipe the poorty out of the whole earth in less than few years if compounding is taken into account.
Even the top hedge funds are making 35% ish sort of return per annum..now dont tell me they dont have better traders trading for them or they dont have better resources than a retail traders..
My 2 pence, if you have maintained these sort of returns for the next 10 months then any hedge funds in Cananda( as ur resident) will come banging on your doors asking you to work for them with 1:9 split base..
Robin, I was just trying to give you a heads up, hope you will take it in a good faith.
Uasish is one of the most respectful traders in Traderji and he seems quite experienced from many of us, as far as I have seen after reading his posts and I dont think his motive was to put you down and I dont understand why would any body do that. What he meant was if you are that profitable then kindly start a new thread fire your charts with some reasoning of entry and exits depending upon your other time & commitments, and believe me it would be a learning curve too for many of us including you, you are in no ways proving anything to anyone but there may be many succesful traders who can throw some valuable insights.BTW most of us are retail traders and we dont have any one who could guide us other than forum members because the world outside this is very cruel, I bet 99% of traders lack complete family support which itself is a driving force to failures because trading cannot be learned by going to traditional school or colleges.. it comes only after a lot of screen time untill our eyes starts to bleed..after riding through all those emotional roller coaster traumas.. huh!! a long journey but worth it all!!
Good luck and dont think I am preaching any BS, I would defenitely appreciate if you come up with criticisms, arguments etc so that we can get our conversation more constructive and informative for many of us.
Happy trading.