Day Trading Stocks & Futures

[vikas2131]

Correct. Hence the high failure rate.

You don't get better playing an opponent who's light years ahead of you in terms of skill. You will never win and plus the disappointment. You have to earn the right to play Roger Federer.

You only get better incrementally by beating opponents who are only slightly better than you and you move up the ladder.

Alas, no such junior, sub junior levels in trading. Only PRO trading. Find a mentor.

That is how life is. You come across problems which you are not prepared to handle yet you have to face those problems. This is called learning.

 

[afin]

Excerpts from a Book I am reading :

Now think about this: Would you bet thousands of dollars a day you could beat the absolute best in the world in golf, tennis, boxing, chess, bridge, or poker? Would you try to make a living by going head-to-head against the best baseball, basketball, or football players in the world? Obviously you would not. Yet the truth is every time we make a trade in a futures market, or buy a share of stock, that is exactly what we are doing. Every time we make a trade, be it stocks or futures, we are competing against (among others) the very best traders in the world.

Superb quote! Trusted you to post this.

Sums up our situation rather very nicely. Trading is and should be considered an ultra serious business, up there in the league of elite athletes.

If one has to run a 100m in sprint in sub 10 sec or so, it requires a total dedication of the mind and body, so does something like mountaineering. One cannot just climb Everest or heck, even its base camp without a considerable amount of preparation.

Holistic as it is, half measures absolutely do not count for nothing in the world of trading.

Thanks a lot for sharing this! Inspirational as always.

 

[vikas2131]

 

[vikas2131]

........

 

[Raj232]

Todays BankNifty was just a reversal of yesterdays gains...

 

[onequorauser]

Indices playing flip flop these days. 101010101010

 

[vikas2131]

Indices playing flip flop these days. 101010101010

I have noticed... trading indices is getting harder..

 

[Raj232]

I have noticed... trading indices is getting harder..

The indices balance our each other, eg Reliance goes up then banks come down a bit in case of Nifty
In case of Banknifty, it is PSU banks vs private banks, however ICICI bank is mostly the manipulated stock to keep the balance.

 

[vikas2131]

 

[onequorauser]

I have noticed... trading indices is getting harder..

I suppose its a function of time. It should get better with time. Long or short should become obvious. ST says it could take months before this resolves it self.