Learn How To Fish

[vivek.civil17]

dear vijay bro , give me some edge to handle bof , last 4 days it wiped my good profits , though it was not recorded in charts but order get triggered 4 times in last 4 sessions , couldn't able to handle this situation

 

[VJAY]

dear vijay bro , give me some edge to handle bof , last 4 days it wiped my good profits , though it was not recorded in charts but order get triggered 4 times in last 4 sessions , couldn't able to handle this situation
View attachment 28568

Sad to hear you last 4 trades fails when on chart its not recorded ....Yes its happens I too got hit these typr of trades in BNF ..
I think you are trading in TS future....Then you can just increase filter some more as you already know about how much diference your trade triggers...
In BNF whenever bof happen I not wait for ISL to hit...looking that bof bar will exit accordingly ..If on chart its not recorded will take action as earliest...mostly stoploss hunters make life too dificult for trend traders ....
One thing make sure if its bof dont hesitate to exit earliest as not get hit big loss ...even many times price move without us after our exit ...don't bother about it...opportunities always here ...will get in next opportunity

 

[vivek.civil17]

Sad to hear you last 4 trades fails when on chart its not recorded ....Yes its happens I too got hit these typr of trades in BNF ..
I think you are trading in TS future....Then you can just increase filter some more as you already know about how much diference your trade triggers...
In BNF whenever bof happen I not wait for ISL to hit...looking that bof bar will exit accordingly ..If on chart its not recorded will take action as earliest...mostly stoploss hunters make life too dificult for trend traders ....
One thing make sure if its bof dont hesitate to exit earliest as not get hit big loss ...even many times price move without us after our exit ...don't bother about it...opportunities always here ...will get in next opportunity

noted vijay bro , will test and increase my filter fr further trades .

 

[VJAY]

How ST da become successfull trader.....confidence booster

When I started trading,there was no concept of trading capital and I thought Rs 20,000 to 25,000 will be enough trading capital just to fund our day to day profits and losses. That time settlement used to be of 15 days which was later changed to 1 week and the margin ,VAR margins etc were not that strict...so the broker used to ask only M To M losses and small margin to cover the risk.But that was dangerous as the losses used to mount during the 15 days period and when they become unbearable traders used to close the positions.Traders used to take large positions too large for their trading capital and Trader failure rate was high that time too. Markets are much safer today with strict implementation of margins.

I started trading with just Rs 20,000 in my bank account ( but that was 25 years ago when family household expenses used to be Rs 5,000 so it will be equivalent to Rs 1,25,000 today ) ) and I remember my first daytrade was I shorted 50 shares of Tata Motors....but it is difficult to manage on shoestring budget and the capital formation is very slow. I had to support my household expenses plus my HDFC housing loan EMI.....capital formation goes up exponentially when the trading capital reaches 4-5 Lakhs levels..this is because your profits go up but household expenses don’t go up in that proportion leaving surplus for capital formation.Initial period of capital formation is very difficult and frustrating.But I had an advantage that we were trading sitting in brokers office and there were handful successful traders there.They used to be very secretive and will not share their methods but our passion for the markets and the confidence that if these successful traders can do it,we can do it too led me to improve my trading though I blew up my capital 3-4 times ....many new traders fail in this initial period and some are successful in Initial period but they disregard risk and fail later due to excess leverage without good risk control....even though initially I was a losing/ breakeven trader,but I never had slightest doubt in my mind whether money can be made in trading.....I was confident it could be made,few are making it and I must figure out ways of doing it myself, no one is going to hold my hand and teach me.As I went ahead, I was fortunate to come in touch with positive people and some extra ordinary traders and I could get some valuable inputs from their talks.Each trader had different way of trading but there was a common thread of controlled aggression ,risk control,respecting the market much more than their own views and cutting losses ruthlessly when wrong and pressing the accelerator paddle when right and staying calm during all this.

Hope the post is not getting too long.....

 

[VJAY]

 

[VJAY]

 

[VJAY]

One good setup for who trade in TS.....

 

[StarLight]

Hi Vijay,

Can you please give the thinking behind marking the pivots where I have put number 1 and 2. I mean if you can tell at break of which bars produced these pivots.For example I am not able to understand for mph pivot marked 1 break of which bar by which bar produced that pivot similar is the case of pivot 2.For mpl pivot 2 also i am not able to understand which bars were broken to create that pivot as I am not able to see two bar rally definition coming in picture in case of pivot 2 and also two bar decline definition coming in case of pivot 1

In case of pivot 1 i am seeing that next red candle formed lower high and lower low but there is no next candle which broke the low of this red candle to create the pivot.Can you please explain this.

the below screenshot is taken from post number 13 on page 2 of this thread thanks

 

[VJAY]

TS yesterday....If one use his PA knowledge with this method looking structure of market might get good R:R trades ........

 

[StarLight]

HI vijay can u please answer my post above your post.Thanks