Dear Friends
Last year dear Rjshem Sir came in my trading life..During learning pivot method, I hve come across some Rjshem sirs charts & learnt some setups from his charts..I am & will be always greatful to him for his kind help ..those 2-3 charts had changed my whole concept of trading..all 3 years hard work had started making sense..
1) RJshem Sir gave me the seed of idea...& I grew whole tree out of it...I am not following it completelly but yes that give me the idea how to make setups & how to trade price action with objectivity..God has sent me the RJshem sir in my trading life & it changed altogether..no words can express my deep & warm gratitude to him..I will be always greatful to this kind & successful trader forever in my life.
2) what mistke i was doing, I realized..I was a perfectionsist in my studies & in my job..& i was doing same in trading..I was discarding every method due to some imperfection..then I enlightned & got holy grail ?what was my holy grail??
50 % success & 1:2 reward of any setup..whether its belongs to price action or indicator..now many methods of indicator which I discrded in my previous journey started becoming useful..I dont mind if only coin flipping has fulfilled thar criteria, I can also include in my setup
so lesson -1 no perfection in trading, only probabilities..dont make youe method perfect..no method is perfect..dont try to mke it perfect..if it is 50 % time right, you will be profitable
2) I was doing 18 hours hard work.. & I was thinking hours of my hardwork is directly proprtional to my profit..but its not the case..though hardwork is very necesseary in trading...but market doesnt care about your hardwork..it will not give you money just beacause your hardwork..you need just some setups, prctise them & execute them flawlessly
3) I used to follow avny's thread ...i learnt 'master one trick"..we are habitual to our education system & think if we know much, we do better..its not applied in trading..here its better, if you know less..if you apply all method or so many tricks, it would be hard to be profitable.."master one trick" & practise that one trick 10 thousand times & apply it continuously ..it would be boring but profitable..we are in market to earn profit not for excitement
4) Guys! who are still struggling, I suggest..just go through some rjshem sir's chart..just choose 1 setup ..any 1 setup..learn it throughly..& choose any 5 scrips of your choice...take only this 1 setup & take trades only when this setups comes in those 5 scrips..pull out any month & take trades..if you are in loss, discard it...but this will not happen
5) market is a war..our opponent are strong..we can only win this war to be with them only..dont be rigid...fight with THEM, not against them..
6) 1 mistke I had done...I tried to catch each & every move..i tried to trade daily...dont do that..if you are able to catch just 1-2 moves in a day, its enough to make you rich ...if you are able to catch 2-3 good days in a month, it can take care of your monthly expenses( provided your position size is big)
7) learn from everybody but follow what suits you & your psychology..every person risk appetiteis diffrent so choose trading style which suits your personality & risk appetite..as I am a very big risk taker..in markets rewards depends upon your risk..I came in a very danger rating when it comes to taking risks but I can not suggest this to everybody..every trader has a very different risk tendency..Trader SOROS who make bank of england bankrupt in one of his famous trade..he put so much on stake on that trade ..not every trader has that much strength & risk appetite
8) dont start trading with low capital..for back testing or forward testing, you can use small position sizing for learning..but if you want to do it Full time & fulfill your expenditure from it...please start with good capital..5-10 lack is minimum..& employ this capital only when you have got good & consistent profit in last 6 monthes with low capital
9) dont apply or learn method just because some trader is profitable ..everybody is diffrent..everybody's personality, risk appetite, intelligence & condition is different..learn & practise which suits you
10) practise, practise & practise...books can help you to learn basics..but it couldnt teach you trading..this will only charts teach you..what 100 of books cannot teach me ..1 chart of rjshem sir taught me..so back test your setup with sufiicient time of historical data...watch 1000 of charts..learn first 1 setup..practise it...watch 1000 of charts of this 1 setup..trade it on 1 scrip..then trade it on 5 scrips..then on more scrips...till then you are continuously successful with this setup...& then only add new setups..
11) start with small capital & then increase your capital..if you cant earn money with small capital, you cannot earn big with large capital
enough for now
all the best
thanks
Last year dear Rjshem Sir came in my trading life..During learning pivot method, I hve come across some Rjshem sirs charts & learnt some setups from his charts..I am & will be always greatful to him for his kind help ..those 2-3 charts had changed my whole concept of trading..all 3 years hard work had started making sense..
1) RJshem Sir gave me the seed of idea...& I grew whole tree out of it...I am not following it completelly but yes that give me the idea how to make setups & how to trade price action with objectivity..God has sent me the RJshem sir in my trading life & it changed altogether..no words can express my deep & warm gratitude to him..I will be always greatful to this kind & successful trader forever in my life.
2) what mistke i was doing, I realized..I was a perfectionsist in my studies & in my job..& i was doing same in trading..I was discarding every method due to some imperfection..then I enlightned & got holy grail ?what was my holy grail??
50 % success & 1:2 reward of any setup..whether its belongs to price action or indicator..now many methods of indicator which I discrded in my previous journey started becoming useful..I dont mind if only coin flipping has fulfilled thar criteria, I can also include in my setup
so lesson -1 no perfection in trading, only probabilities..dont make youe method perfect..no method is perfect..dont try to mke it perfect..if it is 50 % time right, you will be profitable
2) I was doing 18 hours hard work.. & I was thinking hours of my hardwork is directly proprtional to my profit..but its not the case..though hardwork is very necesseary in trading...but market doesnt care about your hardwork..it will not give you money just beacause your hardwork..you need just some setups, prctise them & execute them flawlessly
3) I used to follow avny's thread ...i learnt 'master one trick"..we are habitual to our education system & think if we know much, we do better..its not applied in trading..here its better, if you know less..if you apply all method or so many tricks, it would be hard to be profitable.."master one trick" & practise that one trick 10 thousand times & apply it continuously ..it would be boring but profitable..we are in market to earn profit not for excitement
4) Guys! who are still struggling, I suggest..just go through some rjshem sir's chart..just choose 1 setup ..any 1 setup..learn it throughly..& choose any 5 scrips of your choice...take only this 1 setup & take trades only when this setups comes in those 5 scrips..pull out any month & take trades..if you are in loss, discard it...but this will not happen
5) market is a war..our opponent are strong..we can only win this war to be with them only..dont be rigid...fight with THEM, not against them..
6) 1 mistke I had done...I tried to catch each & every move..i tried to trade daily...dont do that..if you are able to catch just 1-2 moves in a day, its enough to make you rich ...if you are able to catch 2-3 good days in a month, it can take care of your monthly expenses( provided your position size is big)
7) learn from everybody but follow what suits you & your psychology..every person risk appetiteis diffrent so choose trading style which suits your personality & risk appetite..as I am a very big risk taker..in markets rewards depends upon your risk..I came in a very danger rating when it comes to taking risks but I can not suggest this to everybody..every trader has a very different risk tendency..Trader SOROS who make bank of england bankrupt in one of his famous trade..he put so much on stake on that trade ..not every trader has that much strength & risk appetite
8) dont start trading with low capital..for back testing or forward testing, you can use small position sizing for learning..but if you want to do it Full time & fulfill your expenditure from it...please start with good capital..5-10 lack is minimum..& employ this capital only when you have got good & consistent profit in last 6 monthes with low capital
9) dont apply or learn method just because some trader is profitable ..everybody is diffrent..everybody's personality, risk appetite, intelligence & condition is different..learn & practise which suits you
10) practise, practise & practise...books can help you to learn basics..but it couldnt teach you trading..this will only charts teach you..what 100 of books cannot teach me ..1 chart of rjshem sir taught me..so back test your setup with sufiicient time of historical data...watch 1000 of charts..learn first 1 setup..practise it...watch 1000 of charts of this 1 setup..trade it on 1 scrip..then trade it on 5 scrips..then on more scrips...till then you are continuously successful with this setup...& then only add new setups..
11) start with small capital & then increase your capital..if you cant earn money with small capital, you cannot earn big with large capital
enough for now
all the best
thanks
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