hi tj,thnks fr d compliments .i nevr get attached or xpect 2 mch frm my system because attachments lead to expectations and expectations lead to disappointments.
simple...stoploss is d utmost imp part of my system.
wen i strted trading ,i had decided 2 make a living out of it bt d real problem was i wntd my own system wch i can trust like a son & nt b dependent on anyones system bcoz if u wnt 2 make a living out of trading its stupid 2 rely on any1 fr a lifetime.
trust in ur system as mch as urself.
>before adopting any system, back test it for histrical 5 yrs.
>d most imp of all,identify d major trend of d mkt...if its up ,no matter how many times u get whipsawed ,ultimately u wil win wen d mkt unfolds ia a big rally.
> avoid short term trading.
>review ur system once in a month 2 xplore smthing new 2 minimize d whipsaws.
>take very small positions againsa d major trend
wen i strted trading , i 2 sufered d same problems as a newbee...losses, sleepless nights ,frustration,anger,etc bt as said earlier , i did nt lose faith in d mkt.d charting site of BSE was a great educater fr me aas i wnt back as 1990 (d oldest data available ) 2 test my system wch covered several bull & bear mkts including d outcry system wen orders wer handled manually 2 d super scams of 1992 HARSHAD MEHTA & 2001 KETAN PARIKH 2 d first downward circuit fr our mkt after 2004 elections.it was nt easy2 fit my system bt rather NT IMPOSSIBLE.
even 2day i dedicate an hour evryday aftr mkt testing my system 2 see fr adding or substracting smthing & i jst use d closing prices ,papaer ,pen & calculator fr my systeM.I DONT NEED A PC as i had decided dat i shud nt b hadicapped while ttraveling or loss of internet connection or electricity.
hope i hav answered ur queries satisfactorily.
in d end 2 sumup.....MKT IS KING & TRUST UR SYSTEM MORE DEN U TRUST URSELF.no matter den wat happens 2 d world, u wil always hav a sense of satisfaction even wen whipsawed rather den crying fowl losing on somones else system
PRECIOUS WORDS OF A TRUE TRADER.....:thumb::thumb::thumb:
