Learn How To Fish

[P_A_R_K]

How to start this method as Newbie.....
1.Study & learn the logic of the method...for that go through past charts and apply logic &rules of the method..Back test it for at least on 5 years data
2.Once you feel you got the Logic& Rules for trade start with minimum quantity and trade only basic trend setups only for 6 months
3.once you confidence in method (after 6 months) and able to error lessly execute trades then develop trade management yourself as you all ready have many notes about last 6 month trades...most importantly use trade management which suits you...
Here trade management means what are the steps you take if price fails to go with trend after entry ,Trailing when price move with trend and position sizing rules....
4.Once you fully confidence & fully control in method you can look for trades on counter trend too using failures,ERL's and DERL's..only if your mindset supports it
5.after one year if method gone into your blood then only try to increase position size....
6.Try to keep method simple and simpler rules ...not make it complicated when tweaking rules one /two trades fails
As per my experience one/two month in a year may be not good months as per market conditions
once you got the logic of method you can develop it as per your experience to grow your profits...

Hope I shared enough in this thread for any new trader to at least start trading positively .I have nothing to share any new things...The same method I trading since many years now ...
So will closing this thread ..If anyone helped by this thread am happy ...as I too started learning trading from scratch from TRADERJI itself....
Thanks for all who helped/supported me ......
will post stats of this month & this year on 31st march and close this thread.....

Good afternoon, Vijay brother please consider my kind request please don't close thread even though information some chart aren't there also I have selfish mind too for not closing thread

 

[P_A_R_K]

Please go through this chart and sorry for consuming your valuable time brother

 

[VJAY]

Please study about ERL...ERL shud drawn only on VP's on clear trend

 

[P_A_R_K]

Please study about ERL...ERL shud drawn only on VP's on confirmed trend

yeah thanks brother i actually doubtful only marked also i was editing post. sure i go through once again brother

 

[P_A_R_K]

Now 1st bar closed above some distance from VPH..our ERL line active ...though ERL line and VPL not giving much opportunity
I giving this commentry for understand it what I given in this thread ...

As you said ERL Should draw only on VP's on confirmed trend but this is just started UT Only but drew bit confused as referred with post #51

 

[raju.vzm]

How to start this method as Newbie.....
1.Study & learn the logic of the method...for that go through past charts and apply logic &rules of the method..Back test it for at least on 5 years data
2.Once you feel you got the Logic& Rules for trade start with minimum quantity and trade only basic trend setups only for 6 months
3.once you confidence in method (after 6 months) and able to error lessly execute trades then develop trade management yourself as you all ready have many notes about last 6 month trades...most importantly use trade management which suits you...
Here trade management means what are the steps you take if price fails to go with trend after entry ,Trailing when price move with trend and position sizing rules....
4.Once you fully confidence & fully control in method you can look for trades on counter trend too using failures,ERL's and DERL's..only if your mindset supports it
5.after one year if method gone into your blood then only try to increase position size....
6.Try to keep method simple and simpler rules ...not make it complicated when tweaking rules one /two trades fails
As per my experience one/two month in a year may be not good months as per market conditions
once you got the logic of method you can develop it as per your experience to grow your profits...

Hope I shared enough in this thread for any new trader to at least start trading positively .I have nothing to share any new things...The same method I trading since many years now ...
So will closing this thread ..If anyone helped by this thread am happy ...as I too started learning trading from scratch from TRADERJI itself....
Thanks for all who helped/supported me ......
will post stats of this month & this year on 31st march and close this thread.....

Thanks for all the help vijay,

Though you have provided all the info still newbies may get lot of doubts / confusion while understanding the concepts.

So my humble request is please keep open the thread, so that when ever any newbie need any clarification on this method they can ask here.

Sent from my Realme1 using Tapatalk

 

[VJAY]

As you said ERL Should draw only on VP's on confirmed trend but this is just started UT Only but drew bit confused as referred with post #51

sorry for the confusion...word used wrongly confirmed...I meant it as clear trend....
I meant this ......

 

[P_A_R_K]

Today setup

 

[P_A_R_K]

Today setup

2R reached Moved to Initial SL to Entry +3

 

[VJAY]

Excellent post by XRAY bro ...these points are missing most of traders which stopping them to grow even with their positive methods.....
My little knowledge on compounding :

Compounding is more lucrative term for traders particularly intra day,there are many misconceptions on compounding,back testing,one of member who started a trade dairy could not answer basic question of mechanical system,back testing terms and started compounding which reached dead end

i’m bring my little knowledge on this ,please go through with of peace of mind

Few points on compounding on intra day through index fut:

Points you need keep in mind:

1. You need a winning mechanical system ..what is that ?? a system with edge that is a system with expectancy ratio with higher R:R ,this first criteria ,with less no of trades with luck factor at low point ,which is objective not subjective ,which I have explained long back in this thread

2.Trades should not cross more then 2 per day on average it should be around 1 per day if you take into account NTD

3.Whole capital calculation is based on DD in point terms…say your Nifty system Max DD is 300 points so capital calculation 2 to 3 times the margin..per lot ,so risk of ruin probability is negated

Ex:300 *75=22500+broker Margin

For scaling I’m going with FRMM ,as per RYAN JONES ,this is not only MM ,each person can constuct his own money management

4. we have to add qty when our profit cross DD points ,above example 300 points..similarly we have to reduce when DD has hit in point terms

i had received many PM from newbies ,some old members , could not answered every PM so bring this faq

FAQ

• 1. Can scaling be done to stock fut ..no its not possible as mechanical system for stocks or stock fut.will not work in that way
• 2. Any mechanical system can be used for scaling : No we need to know the DD and its should give less no of trades as I pointed above
• 3. Why cannot we trade more per day : More trades per day squeezes energy ,almost its a broker rich program ,ultimately account will blown
• 4. Can we move to 100 lots or 200 lots: yes possible
• 5. Why a system with all MM and risk management /compounding is not sold or shared : if all is there who will sell a money machine to make others rich,jokes a part risk of slippage with mass usage brings ultimately effects ISL and TSL
• 6. Why cannot this same principles be used for investment compounding: Risk of Black swan for open position is far big.
• 7. Watching a trade log of a pro help in cracking his system ?? : Unless you know the exact rules you cannot making any thing.only eye sockets will come out
  
  
• 8.How to making a mechanical system: You need to know back testing in proper way ( its not just adjusting EMA or CHANGING INDICATOR ), for this you need to read books which I have quoted in the thread
• 9.Can we manage both intra and investment and swing with scaling: For this you need to be trader and trading for living is main step, if you are part time,just stay back go on with investments ,handling needs live market presence
• 10.Investment can be done with mechanical system : yes can be done with mechanical system ,which is popularly known as quanta fundamental way
• 11. Discretionary system cannot be used for compounding,many terms of back testing cannot be obtained it will turn in subjective.