Thoughts on Day/Swing Trading Part 2

[RAAMAKANT]

Self hypnotism never tried but I found self suggestion , Pranayaam, Meditation definately helps...

Keep greed and fear out....do trading as if you are doing a paid job and profit/loss is not your problem...it is your owner's headache...your job is to take trades on your systems, practice risk control...and if you fail, you will be fired...profit/loss not your responsibility....that is all....

Difficult to practice...karmayog hai...

ST

Very True ST dada,
Meditation is very helpful and powerful tool in self controlling.
Not only for our trading but also for improvement of our quality of Life............:thumb:

Baaki aapne to puraa Geeta saar hi bata diya aur wo bhi kitani aasan bhasha me...
Dhanya ho Prabhu..... :clapping: :clapping: :clapping:

 

[humble]

...but if that is not possible in a job...stop trading for that day.

So be ruthless with limits of max loss once set.

All the very best for your success...

Smart_trade

ST Da.. if you don't mind a follow up question from my side.

Even I have this problem. I continue trading hoping the next trade will cover some loss based on the suggestion that we should take all the trades.

How to balance this loss and hope? I know it is very subjective.

 

[Smart_trade]

ST Da.. if you don't mind a follow up question from my side.

Even I have this problem. I continue trading hoping the next trade will cover some loss based on the suggestion that we should take all the trades.

How to balance this loss and hope? I know it is very subjective.

Traders also have a trend. I dont know whether you have experienced or not but some days anything you do will fail....so we are out of sync with the market. Some days anything you do will be a winner....so we are in tune with the market...so on loosing days we are out of tune...so what is the guarantee that after 3 loosing trades, 4th will be a winning trade...more often than not it will also be a looser....

We have to decide quantum of loss and not continue trading beyond it in " hope to recover...or in revenge" it will most likely put us in deeper hole...and tomorrow we can think about the market afresh and trade again....market is not going to run away...opportunities will be plenty...but if we loose capital...then no trading...

Smart_trade

 

[vssoma]

Very True ST dada,
Meditation is very helpful and powerful tool in self controlling.
Not only for our trading but also for improvement of our quality of Life............:thumb:

Baaki aapne to puraa Geeta saar hi bata diya aur wo bhi kitani aasan bhasha me...
Dhanya ho Prabhu..... :clapping: :clapping: :clapping:

dear,
ST bro, can u suggest any good n safe sites to learn pranayamam.

 

[Smart_trade]

dear,
ST bro, can u suggest any good n safe sites to learn pranayamam.

I had joined few yoga, Pranayaam and breathing techniques courses ( Like Bramhavidya,onkaar Sadhana etc) ...there will be few in your city also...so get up early in the morning and go and do the excercises in the group for 40-50 min...it is not very expensive too...max 250-500 per month....but better to do under trained teachers and in group than doing from internet sitting infront of the laptop.



Smart_trade

 

[RAAMAKANT]

dear,
ST bro, can u suggest any good n safe sites to learn pranayamam.

I don't know much about Pranayaam.

But I have recently found very good, easy and practical way of Meditation.
Earlier used to do in different way, but by this technique now improved much.

https://www.youtube.com/watch?v=Kn4dK_kYUEo

(Note- I am not promoting anything or anyone.)

 

[raj_singh]

I don't know much about Pranayaam.

But I have recently found very good, easy and practical way of Meditation.
Earlier used to do in different way, but by this technique now improved much.

https://www.youtube.com/watch?v=Kn4dK_kYUEo

(Note- I am not promoting anything or anyone.)

raamakant, don't do meditation on this way. the link provided by you (basic meditation session by sandeep maheshwari) is already in a very advanced level and without proper guru & diksha ( a real guru can control energy flowing on you) doing this may be harmful for you.

better to search baba ramdev (he doesn't know about proper meditation & telling us basic yoga which is not harmful for health) pranayam / anulom-vilom video.

(Note- I am also not promoting anything or anyone.)

 

[kiran_thiru]

ST Da.. if you don't mind a follow up question from my side.

Even I have this problem. I continue trading hoping the next trade will cover some loss based on the suggestion that we should take all the trades.

How to balance this loss and hope? I know it is very subjective.

Traders also have a trend. I dont know whether you have experienced or not but some days anything you do will fail....so we are out of sync with the market. Some days anything you do will be a winner....so we are in tune with the market...so on loosing days we are out of tune...so what is the guarantee that after 3 loosing trades, 4th will be a winning trade...more often than not it will also be a looser....

We have to decide quantum of loss and not continue trading beyond it in " hope to recover...or in revenge" it will most likely put us in deeper hole...and tomorrow we can think about the market afresh and trade again....market is not going to run away...opportunities will be plenty...but if we loose capital...then no trading...

Smart_trade

as ST sir's reply. yes, it's true.

many also have faced this problem. as per my little experience, if your sys gives 7-8 signals in a day, and if you start day with 3 losses, shut your trading and terminal too for 1 or 2 hours to relax your mind. switch to other activities and got refresh your mind. after your time limit gone open your terminal and find for fresh signals. don't disappoint about previous good signals you missed that day.

it's works for me for many times. happy trading.

 

[manishchan]

I don't know much about Pranayaam.

But I have recently found very good, easy and practical way of Meditation.
Earlier used to do in different way, but by this technique now improved much.

https://www.youtube.com/watch?v=Kn4dK_kYUEo

(Note- I am not promoting anything or anyone.)

raamakant, don't do meditation on this way. the link provided by you (basic meditation session by sandeep maheshwari) is already in a very advanced level and without proper guru & diksha ( a real guru can control energy flowing on you) doing this may be harmful for you.

better to search baba ramdev (he doesn't know about proper meditation & telling us basic yoga which is not harmful for health) pranayam / anulom-vilom video.

(Note- I am also not promoting anything or anyone.)

The ultimate aim of any kind of meditation is to calm the mind and improve concentration/focus. I will share a very unusual and unconventional way, especially for the people who want to start meditation but find it difficult to do. I myself do it sometimes

Lie down flat on bed, or sit in a proper straight posture. Whichever way you feel most comfortable. Close your eyes and do 10 slow breath in-breath out to relax the body.

Now do reverse counting from 500 to 200. ie.. 499, 498, 497... 200. While counting, focus on the count don't make mistake and breath slow and relaxed. (don't do from 100-01 the only reason is dt our mind from childhood is very well trained to do and you would end up doing it correctly without proper focus ) Remember, the key to focus on the reverse counting without making any mistake and continue breathing in relaxed way. Do it for 10 continuous days and you will feel the diff.

if you find counting 500 to 200 very easy.. then skip 1 number and do alternate ie 499, 497, 495, 493, 491,.........., 200

 

[vishal7176]

P-1 or 2 Bars Entry

Today I will share an entry technique which is my favourite entry technique for getting into a trend move, Many times we either miss an entry in a trend move or we get out in between and we want to enter again with small, predefined and controlled risk.

The chart is attached. Here market was in uptrend, it opened with a gap up and after a bit of correction, the uptrend resumed and we want a low risk entry in this uptrend.

Here we locate a small pivot low. And our entry in long trade is above high of the bar which is one bar earlier to pivot low bar provided it is higher than the pivot low bar high, else we go 2 bars earlier.

I have marked 5 places where market gave us a low risk entry shown by blue lines. The stoploss is at the low of the pivot low bar....and you are hooked into a trend...enjoy the ride.

This is an entry method....it is NOT a stand alone trading system....please use it as an entry method only.

The method is based on the fact that an uptrend is made up of higher pivot highs and higher pivot lows and if we keep stops at a pivot low, it will not be hit in a strong uptrend, and if it is hit, it means that the uptrend is weak and we better get out instead of hanging around in a market which is not trending strongly. It is based on sound trading principle and hence this entry technique has more than 75-80 % success rate and is my favourite.....This entry is a great entry for adds even if we are already in trend. It gives low risk add points.

Mirror image to get into a downtrend.....

Smart_trade

Addition : I am purposely posting old post which has a chart and which clearly explains the technique.I could have posted todays chart as well with markings. But now anyone who wants to learn can open todays 5 min NF chart and see the entries on that chart with Stoploss places and whether succeeded or failed. This will give real learning else If I post todays chart, people will read it and then add one more tool in their many systems they have and then that is all...and this is posted for new guys who are srtuggling to get good entries with small stoploss giving a high RR...this is not for experts who need no methods...

Thank you Dada ,