nac Calling JOBBERS/SCALPERS
- Thread starter nac
- Start date
I suggest you move it to the "must read now or else " list 
Kindly share how you enter and exit, precautions taken while doing it, your method and position/risk management and your overall experience.
Thank you
Hmmm... Since I don't trade nifty I don't watch that close. In fact, I don't know what's the closing price of nifty today. When I started to trade full time, market was trading around 5300, that was mid of April. Now, after 2+months market is trading around the same price. In the mean time, market has gone down to 4800 and bounced back to where it started to fall. But I haven't bounced back to BEP. I couldn't say what could be more reliable. As far as intraday is concern, my performance report shows that it ain't.
I couldn't say what could be more reliable. As far as intraday is concern, my performance report shows that it ain't.It's been two months since I started to trade full time. You all know how my trading is...
Since I ain't got enough amount to trade, I borrowed some. Some of you were saying this, as a beginner need to top up few times before taking consistent profit. I ain't wanted to put myself in such a situation. But it did happaned. I am bit embarrassed to post this post but this will be helpful for any newbie's when they see this. What will be the result if he trade like me. I can be an example of "How not to trade"?
Total trading days: 21 days
Profit: 12 days
Loss: 9 days
This month I broke my own record i.e. worst loss ever in my trading history. Around 27% loss on one trading day. While my best is just 5% profit. No. of trading days which end up in profit is high but the losing days eat up all my profit. Here is a snap of my performance chart.
Since I ain't got enough amount to trade, I borrowed some. Some of you were saying this, as a beginner need to top up few times before taking consistent profit. I ain't wanted to put myself in such a situation. But it did happaned.
I am bit embarrassed to post this post but this will be helpful for any newbie's when they see this. What will be the result if he trade like me. I can be an example of "How not to trade"?Total trading days: 21 days
Profit: 12 days
Loss: 9 days
This month I broke my own record i.e. worst loss ever in my trading history. Around 27% loss on one trading day. While my best is just 5% profit. No. of trading days which end up in profit is high but the losing days eat up all my profit. Here is a snap of my performance chart.
Sir, I have lost my capital earlier and now have started doing well after learning form my mistake. But even now I feel that my style still is not foolproof or I some time not confident about my method. So I was asking your way of trading. By visiting your posts I thoght that I am also like you in the method so I was seeking your inputs.
I did not understand FRPS word you mentioned in last line.
Thank you
I did not understand FRPS word you mentioned in last line.
Thank you
It's been two months since I started to trade full time. You all know how my trading is...
Since I ain't got enough amount to trade, I borrowed some. Some of you were saying this, as a beginner need to top up few times before taking consistent profit. I ain't wanted to put myself in such a situation. But it did happaned. I am bit embarrassed to post this post but this will be helpful for any newbie's when they see this. What will be the result if he trade like me. I can be an example of "How not to trade"?
Total trading days: 21 days
Profit: 12 days
Loss: 9 days
This month I broke my own record i.e. worst loss ever in my trading history. Around 27% loss on one trading day. While my best is just 5% profit. No. of trading days which end up in profit is high but the losing days eat up all my profit. Here is a snap of my performance chart.
Since I ain't got enough amount to trade, I borrowed some. Some of you were saying this, as a beginner need to top up few times before taking consistent profit. I ain't wanted to put myself in such a situation. But it did happaned.
I am bit embarrassed to post this post but this will be helpful for any newbie's when they see this. What will be the result if he trade like me. I can be an example of "How not to trade"?Total trading days: 21 days
Profit: 12 days
Loss: 9 days
This month I broke my own record i.e. worst loss ever in my trading history. Around 27% loss on one trading day. While my best is just 5% profit. No. of trading days which end up in profit is high but the losing days eat up all my profit. Here is a snap of my performance chart.
Remember when you are bleeding, first thing to do is to STOP the BLEEDING, not jump into another attack which may cause further wounds and thus more bleeding.
Have you not set Daily & Weekly & Monthly Loss Limits !! I understand it is very difficult to close the day after loss, but there have been days when i was out of market by 9:30 because of Daily Limit. If you are trading to recover loss, there is only one thing you will get MORE LOSS.
If you haven't set these limits, then do so and adhere to them religiously (shut the computer and read some trading book, and if you are disciplined enough then have Paper Trades).
Paper Trades reminds me of www.tradingsim.com , bro my earnest advice, login to the site, make that $ 50K into $ 75K before you even log into your terminal.
Also trading with borrowed money is really dangerous as you are more scared of losing which gives your more chances of losing the same. Do you see the irony here nac, the more scared you are to loose, the more you don't want to loose more you will !!
A windfall of change came into my trading the day i realized, I am not going to make lots of money overnight, I am not going to hit only home runs, i will not cover all my loss in a day, it takes time, a baby step at a time. Also i keep in mind, there is tomorrow and market will be there.
keep in mind, there are OLD traders and there are BOLD traders but there are no OLD BOLD Traders (i think it was said by ed seyokta, it reminds me he has written a nice article on Risk Management, you will find in his website , google it)
I just hope you will come to the realization that Trading is more about understanding Risk and giving it the respect it deserves and not about signals or tips or guts.
Dear Nac,
This writing was always there on the wall and some, Sanjay and others including me had already predicted so.
And the pace was also quite expected looking at the way you had mentioned your trading method and habit in earlier posts.
What I feel sad to know that your casual announcement that "one has to refill the trading account number of times before making profit consistently". Pls understand that this is no prerequiste to success in trading. Ofcourse most of the traders undergo this, but you taking 'pride' in wiping out your capital just to make your count of refilling start is unwelcome.
Grow up Nac, that's what I can say, you have long long way to go. If time permits visit some of my comments on my Risk Management in the thread 'Thoughts on Risk Management" (post # 61 onwards). Also review commnets made by veterans/regulars viz Oilman5, AW10, Linkon7, Vijay and others in the same thread, you will get much needed perspective.
Regards,
p.s.: Trading is all about managing Risk, Risk and Risk. It's a game and your SOLE objective is to REMAIN IN THE GAME for long long time. PROFIT is the byproduct in the due course.
This writing was always there on the wall and some, Sanjay and others including me had already predicted so.
And the pace was also quite expected looking at the way you had mentioned your trading method and habit in earlier posts.
What I feel sad to know that your casual announcement that "one has to refill the trading account number of times before making profit consistently". Pls understand that this is no prerequiste to success in trading. Ofcourse most of the traders undergo this, but you taking 'pride' in wiping out your capital just to make your count of refilling start is unwelcome.
Grow up Nac, that's what I can say, you have long long way to go. If time permits visit some of my comments on my Risk Management in the thread 'Thoughts on Risk Management" (post # 61 onwards). Also review commnets made by veterans/regulars viz Oilman5, AW10, Linkon7, Vijay and others in the same thread, you will get much needed perspective.
Regards,
p.s.: Trading is all about managing Risk, Risk and Risk. It's a game and your SOLE objective is to REMAIN IN THE GAME for long long time. PROFIT is the byproduct in the due course.
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Dear Nac,
Also note timing of my last post and the one I had posted before that, you may unhesitantly assume that I was waiting for this day. It is safe for you to assume that I would be visiting this thread quite regularly and quitely too. A cue you may take here which may help you in your trading - be more observant, wait for 'opportunities' to come to you instead of you searching them in the dark.
In trading, 'opportunities' have NO OPTION but to come to people WHO WAIT for them. Strike at the right time and strike hard.
Regards,
Also note timing of my last post and the one I had posted before that, you may unhesitantly assume that I was waiting for this day. It is safe for you to assume that I would be visiting this thread quite regularly and quitely too. A cue you may take here which may help you in your trading - be more observant, wait for 'opportunities' to come to you instead of you searching them in the dark.
In trading, 'opportunities' have NO OPTION but to come to people WHO WAIT for them. Strike at the right time and strike hard.
Regards,
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