new website for technical analysis & tips
- Thread starter tushar18
- Start date
HI all,Hi,
Many times I wondered why people go for paid tips when they can get better tips that make big money in this forum. Also there are many analysts and system traders/developers who make big money trading their own systems. But I think the tipsters are not up to the mark of profitable trading. Earlier I have access to a tip service which costs Rs. 25000 per month. It looks really good, but the problem is they give sms on the fly and one can't catch the entry price. Most probably it is at first target by the time u are about to punch ur order. The ones that are at entry price and u can easily catch the entry price are most likely the losers. But their win rate and profits as advertised by them are mind boggling. The real problem is no one can get a fill rate that is near their entry levels. Everything looks good on paper. But with a few swing trades u can make the money u paid to them. But it is too risky as the fills u really get are too far from entry levels.
In the US and other markets there are many CTAs, Managed futures etc. Is anyone here offers such services or the successful system developers trade their own ?
Many times I wondered why people go for paid tips when they can get better tips that make big money in this forum. Also there are many analysts and system traders/developers who make big money trading their own systems. But I think the tipsters are not up to the mark of profitable trading. Earlier I have access to a tip service which costs Rs. 25000 per month. It looks really good, but the problem is they give sms on the fly and one can't catch the entry price. Most probably it is at first target by the time u are about to punch ur order. The ones that are at entry price and u can easily catch the entry price are most likely the losers. But their win rate and profits as advertised by them are mind boggling. The real problem is no one can get a fill rate that is near their entry levels. Everything looks good on paper. But with a few swing trades u can make the money u paid to them. But it is too risky as the fills u really get are too far from entry levels.
In the US and other markets there are many CTAs, Managed futures etc. Is anyone here offers such services or the successful system developers trade their own ?
To Quote from Blood Diamond :
--------------------------------------------------------------------------
Danny Archer (Leo) : Sometimes I wonder... will God ever forgive us for what we've done to each other? Then I look around and I realize... God left this place a long time ago.
-------------------------------------------------------------------------
This is exactly what God has done with respect to the markets....
So who will save us, not God for sure, certainly not these tipsters,
its completely up to us, and the bhramastra in trading is Position Sizing, untill you get it right the most complex and advanced entry and exit technique is not going to be of any help.
Control risk and profits will come with the simplest of systems to keep you satisfied.
I do not have anything against these tipsters, its those who subsribe to them (long long ago, i was a one among those subscribing to tipsters) since how can they size your positions and manage risk, thus once you ascertain your entry price, exit price and lot size (not losing more than 0.5% in the first 6 months, then 1% the 2% of total capital and no more ever per trade) it works and always use the power of compounding thereafter, keep realistic objectives (50% works for me, deducting 25% for living expenses and 25% for compounding each year)
If you have chosen trading for life, work on it yourself and you will require no crutches.
Work hard, develop your own set of rules and stay committed to it.
Imp Tip : Do not leave your main source of income, say job, before you have enough capital and proof that your rules work and can keep you afloat in the most difficult of times (i made this mistake and speak from experience), and always be prepared to get back to your line of work if trading fails, you can always try again (only if you have managed risk properly), failure in trading is not the end of life, determination coupled with hard work and discipline always pays well.
Good luck
--------------------------------------------------------------------------
Danny Archer (Leo) : Sometimes I wonder... will God ever forgive us for what we've done to each other? Then I look around and I realize... God left this place a long time ago.
-------------------------------------------------------------------------
This is exactly what God has done with respect to the markets....
So who will save us, not God for sure, certainly not these tipsters,
its completely up to us, and the bhramastra in trading is Position Sizing, untill you get it right the most complex and advanced entry and exit technique is not going to be of any help.
Control risk and profits will come with the simplest of systems to keep you satisfied.
I do not have anything against these tipsters, its those who subsribe to them (long long ago, i was a one among those subscribing to tipsters) since how can they size your positions and manage risk, thus once you ascertain your entry price, exit price and lot size (not losing more than 0.5% in the first 6 months, then 1% the 2% of total capital and no more ever per trade) it works and always use the power of compounding thereafter, keep realistic objectives (50% works for me, deducting 25% for living expenses and 25% for compounding each year)
If you have chosen trading for life, work on it yourself and you will require no crutches.
Work hard, develop your own set of rules and stay committed to it.
Imp Tip : Do not leave your main source of income, say job, before you have enough capital and proof that your rules work and can keep you afloat in the most difficult of times (i made this mistake and speak from experience), and always be prepared to get back to your line of work if trading fails, you can always try again (only if you have managed risk properly), failure in trading is not the end of life, determination coupled with hard work and discipline always pays well.
Good luck
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