Be Consistent Trader
- Thread starter arora
- Start date
Before Becoming successful trader, one must know himself.
Most of the traders here look for successful system without forgetting own's psychology level. but to be successful in trading one must design its own system as per his own psychology level. however traders can take idea from here than can modify them or combine them as per own's strength and weakness. NOBODY CAN COPY SOMEBODY
It's 100% true one system can be successful for one trader but will be unsuccessful for other.
As everyone loves cricket , so i will compare trading with cricket. In one of the ishant sharma interview , he told he went out of rhythm because he was trying to copying zaheer khan and was forgetting his own strength. Please click on link below for full interview.
http://www.espncricinfo.com/magazine/content/story/522154.html
Read his full interview, surely will help you in trading
so i would like to request stop copying someone's else system. know your own strength and weakness , get idea's from here(trader ji), test them , create system as per your own psychological level. back test it, live test it , and than trade it.
To design my own system, I combined three systems and made my own one as per my emotions and control.
Like most of traders use RSI as support and resistance but is use rsi (with own parameters) to identify trend of market .
So have knowledge , combine it and create new , test it, trade it
SACHIN and KAMBLI almost got same opportunity. both were having talent(say successful system) but today everyone knows SACHIN not KAMBLI because of SACHIN's strong psychological level. SACHIN knows his own strength and weakness. He never tries to copy someone's technique. he works hard and creates his own technique.
So work hard, grab knowledge, know your emotional level. than design system as per your own level.
Making money from Trading is very easy but we have to follow right path
Most of the traders here look for successful system without forgetting own's psychology level. but to be successful in trading one must design its own system as per his own psychology level. however traders can take idea from here than can modify them or combine them as per own's strength and weakness. NOBODY CAN COPY SOMEBODY
It's 100% true one system can be successful for one trader but will be unsuccessful for other.
As everyone loves cricket , so i will compare trading with cricket. In one of the ishant sharma interview , he told he went out of rhythm because he was trying to copying zaheer khan and was forgetting his own strength. Please click on link below for full interview.
http://www.espncricinfo.com/magazine/content/story/522154.html
Read his full interview, surely will help you in trading
so i would like to request stop copying someone's else system. know your own strength and weakness , get idea's from here(trader ji), test them , create system as per your own psychological level. back test it, live test it , and than trade it.
To design my own system, I combined three systems and made my own one as per my emotions and control.
Like most of traders use RSI as support and resistance but is use rsi (with own parameters) to identify trend of market .
So have knowledge , combine it and create new , test it, trade it
SACHIN and KAMBLI almost got same opportunity. both were having talent(say successful system) but today everyone knows SACHIN not KAMBLI because of SACHIN's strong psychological level. SACHIN knows his own strength and weakness. He never tries to copy someone's technique. he works hard and creates his own technique.
So work hard, grab knowledge, know your emotional level. than design system as per your own level.
Making money from Trading is very easy but we have to follow right path
Last edited:
correct bole sirji ki It's 100% true one system can be successful for one trader but will be unsuccessful for other.
you can make any system which can give 15%-25% return on capital if followed religiously. But we are not so religious to follow it with discipline
........brain will say, fin minister said this sector will benefit , how can I short the shares...... or the eg. arora sir said market looks week yesterday , how can I buy :rofl::rofl:?????
n we fail to listen to the system..
If system consist of just 1 ma/ema and a simpel indicator , 1 can make wonders if followed religiously
eg.=
the charts has keltner bands (amobroker se) period 9 width 0.25 ... price close above or below buy sell .. with the help of macd.. there will be few sl/cost to cost and few profits end of the week outcome will be positive
its not my personal system.
khene ka matlab hai kuch be banao... bas arora ji ke psychology tips se use follow karo. :clap::clap: notes apne aap chap jayenge
you can make any system which can give 15%-25% return on capital if followed religiously. But we are not so religious to follow it with discipline
........brain will say, fin minister said this sector will benefit , how can I short the shares
...... or the eg. arora sir said market looks week yesterday , how can I buy :rofl::rofl:????? n we fail to listen to the system..
If system consist of just 1 ma/ema and a simpel indicator , 1 can make wonders if followed religiously
eg.=
the charts has keltner bands (amobroker se) period 9 width 0.25 ... price close above or below buy sell .. with the help of macd.. there will be few sl/cost to cost and few profits end of the week outcome will be positive
its not my personal system.
khene ka matlab hai kuch be banao... bas arora ji ke psychology tips se use follow karo. :clap::clap: notes apne aap chap jayenge
very true sir, In my very earlier days i created my own first system with help of only price action but as i was not having experience of following discipline. So i started trading with that system but in mean time was also looking for some holy grail :lol: so net result jo bnaya tha vo trade nai kia or kuch hi trade karna shurur kar dia :lol: .after months i came to know that the system i have created is already working why i am looking here and there. Capital saw a draw down of 75%. that was just because i was not following which i have created .
so create it , back test it, live test it, trust it, follow it. :thumb:
so create it , back test it, live test it, trust it, follow it. :thumb:
Importance Of Peace of Mind in Trading.
3C rule i apply in my trading to balance my mind in trading
Peace of mind is something that we all crave for. Same thing is very important in trading. We cannot achieve this state without putting effort. After all, peace of mind is not something that can be procured by spending money, making profit /Loss or by force. The mind needs to be balanced and in equilibrium before it can reach that state. For the mind to be balanced in trading or life, we have several 'dos' and 'don'ts' to follow. Given below are three 'don'ts' which go a long way to achieve that state. They are described as the three Cs.
Criticizing: The first C is criticizing: It is one of the most natural talents that we all have. As per human psychology we think about loss more than profit(for example : if we made 10000 inr in one day and second day we have loss 4000 inr. so as per normal human psychology we will concentrate on 4000 loss make not 6000 profit in net) Our minds seem to be tuned to find fault, negativity and spot blemishes. Many a times, we see problems where none exist. It is as if our minds have the uncanny knack of identifying a problem. At the same time, our tongues are eager to let others know of our 'superiority' in being able to articulate those problems. When we criticize thus, unnecessarily, we are unknowingly building resistance as well as enemies. These lead to unwarranted loss, anxiety , fear and greed Moreover, our minds which get clouded in negativity refuse to let us reach the state of equilibrium. which is very much required in trading.
how i balance my mind?
My that strict excel rule ( i have mentioned earlier on this thread ) where i don't put entry and exit point during running month. i just see either i was disciplined or not. helps me to reach peace of mind during whole trading month.
Complaining: The other C is similar to the first C and yet more damaging. Complaining is taking criticism to a higher level and almost results in condemning others. that's why when traders make loss. they try to blame others for like any expert, tip adviser etc. In trading we are the one who are responsible for our all action. The day one realize it and starts improving those wrong action, He will move to path of becoming successful trader.
How i get over it?
I firmly believe that i am the only one who is responsible for my capital. No X Y Z is responsible for my capital. like for example long back i had 3 SLs just because of wrong data not because of my system (Hitting SLs part of system but that SLs were because of wrong data). So i accepted that it's my mistake that i trusting illegal data vendors. Straight way i subscribed to legal data vendor. Never complain, Accept the fault and concentrate on improvement.
Comparing: Another C which we seem to be unable to avoid is the comparison bug. It is almost like a virus which is in the air. Many of us are comparing all the time - ourselves with those around us. It could be about anything - wenkgh, friends, physique, job, dogs, appliances etc. It gives us momentary pleasure when we see others in a worse situation than us and also give us sleepless nights when we see others enjoying more than us. Comparison is a never ending maze where people get lost and unable to recover their bearings. It is a method of inventing joy / sorrow out of nothing. First there are traders who doesn't know psychology of trading, but there are traders also who know all these aspects but just because other trader. is making 30% per month they forget themselves than starts copying him and end up in loss.
I was having same habit. that was the reason i was not able to be discipline. I made system but was not able to trade them . because i was comparing myself to other.
later i understand
There is deference between batting style of SACHIN,SEHWAG,RAHUL. but all are legend in field of cricket. So when i used to compare my self with other i remember my this line. stops straight away and concentrate on something else.
These three C's are best avoided and conscious efforts taken to prevent ourselves from getting entrapped here. It would be a good idea to get rid of them as soon as possible if you want to be successful in trading. You can above mentioned tricks or you can find new tricks which helps you to get out of 3Cs. But getting out is very Important no matter how. Over time, we might become habituated to completely avoid them and progress towards the much coveted state of peace in our minds in trading.
3C rule i apply in my trading to balance my mind in trading
Peace of mind is something that we all crave for. Same thing is very important in trading. We cannot achieve this state without putting effort. After all, peace of mind is not something that can be procured by spending money, making profit /Loss or by force. The mind needs to be balanced and in equilibrium before it can reach that state. For the mind to be balanced in trading or life, we have several 'dos' and 'don'ts' to follow. Given below are three 'don'ts' which go a long way to achieve that state. They are described as the three Cs.
Criticizing: The first C is criticizing: It is one of the most natural talents that we all have. As per human psychology we think about loss more than profit(for example : if we made 10000 inr in one day and second day we have loss 4000 inr. so as per normal human psychology we will concentrate on 4000 loss make not 6000 profit in net) Our minds seem to be tuned to find fault, negativity and spot blemishes. Many a times, we see problems where none exist. It is as if our minds have the uncanny knack of identifying a problem. At the same time, our tongues are eager to let others know of our 'superiority' in being able to articulate those problems. When we criticize thus, unnecessarily, we are unknowingly building resistance as well as enemies. These lead to unwarranted loss, anxiety , fear and greed Moreover, our minds which get clouded in negativity refuse to let us reach the state of equilibrium. which is very much required in trading.
how i balance my mind?
My that strict excel rule ( i have mentioned earlier on this thread ) where i don't put entry and exit point during running month. i just see either i was disciplined or not. helps me to reach peace of mind during whole trading month.
Complaining: The other C is similar to the first C and yet more damaging. Complaining is taking criticism to a higher level and almost results in condemning others. that's why when traders make loss. they try to blame others for like any expert, tip adviser etc. In trading we are the one who are responsible for our all action. The day one realize it and starts improving those wrong action, He will move to path of becoming successful trader.
How i get over it?
I firmly believe that i am the only one who is responsible for my capital. No X Y Z is responsible for my capital. like for example long back i had 3 SLs just because of wrong data not because of my system (Hitting SLs part of system but that SLs were because of wrong data). So i accepted that it's my mistake that i trusting illegal data vendors. Straight way i subscribed to legal data vendor. Never complain, Accept the fault and concentrate on improvement.
Comparing: Another C which we seem to be unable to avoid is the comparison bug. It is almost like a virus which is in the air. Many of us are comparing all the time - ourselves with those around us. It could be about anything - wenkgh, friends, physique, job, dogs, appliances etc. It gives us momentary pleasure when we see others in a worse situation than us and also give us sleepless nights when we see others enjoying more than us. Comparison is a never ending maze where people get lost and unable to recover their bearings. It is a method of inventing joy / sorrow out of nothing. First there are traders who doesn't know psychology of trading, but there are traders also who know all these aspects but just because other trader. is making 30% per month they forget themselves than starts copying him and end up in loss.
I was having same habit. that was the reason i was not able to be discipline. I made system but was not able to trade them . because i was comparing myself to other.
later i understand
There is deference between batting style of SACHIN,SEHWAG,RAHUL. but all are legend in field of cricket. So when i used to compare my self with other i remember my this line. stops straight away and concentrate on something else.
These three C's are best avoided and conscious efforts taken to prevent ourselves from getting entrapped here. It would be a good idea to get rid of them as soon as possible if you want to be successful in trading. You can above mentioned tricks or you can find new tricks which helps you to get out of 3Cs. But getting out is very Important no matter how. Over time, we might become habituated to completely avoid them and progress towards the much coveted state of peace in our minds in trading.
Today's day is perfect example that if we follow our strict rules of our system. market will always reward us. Otherwise will kick us in long run. our emotional trade can be right for one time but is always wrong as per trading rules.
As today i followed all my system rules strictly. and it has paid me. Today i didn't trade any trade. And my system has rewarded me for being out of sideways day.
So in nutshell what we can learn we have to trust ourselves and act like robot. not matter whats going on.
Every action should be planned and we must act according to that plan. always pays off.:thumb::thumb:
As today i followed all my system rules strictly. and it has paid me. Today i didn't trade any trade. And my system has rewarded me for being out of sideways day.
So in nutshell what we can learn we have to trust ourselves and act like robot. not matter whats going on.
Every action should be planned and we must act according to that plan. always pays off.:thumb::thumb:
The correct dates are probably 16/02/15 and 18/02/15.
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