nac Calling JOBBERS/SCALPERS

[Luv_Stocks]

Dear Nac,

No sympathies to you. Absoulutely no sympathies.

On the contrary I congratulate you on making a GREAT start to your trading / jobbing career. You are down JUST 26% and you are feeling sh*t.

THIS IS THE EXPERIENCE or even worse if you lose more here after, which I really wish, if you sincerely want to make this to be your livelyhood activity.

THIS FEELING can never be felt anywhere else, not by listening, reading books, hearing. Belive me this EXPERIENCE is a MUST and is the foundation stone for trading career.

A few suggestion I would like to make to you:

1) Don't be vocal / expressive of all your feelings in public - you will dilute the learning experience and would commit same or graver mistakes in future. It is your experience and you need to go through it. Enjoy it, feel it, nuture it - get your body, mind and soul adjust to this experience. By sharing it publicly you are losing a big opportunity of learning. You may share it subsequently once you are out of the experience. This applies to Good experience as well as "Learning" experience.
2) Don't be overconfident - getting back with a bang in the market seldom wins. Vengeance trading is a sure receipe of failure.
3) Never target an amount or % gain - i.e. if you are down 26%, don't target to recover it first and so on. Returns - gains (or losses) are market dependedent. Hence adjust yourself to the market on a particular trading day/period instead of adjusting your expected returns to the market.
4) Never ever quit - other than going on vacation or personal engagements. Even if you are feeling down (like now) don't quit. But REDUCE your volume, if need be trade 1/10th, 1/20th, 1/50th or even 1/100th of our normal volume. But don't quit. You may take a break to address the strain / boredom of trading but not due to booked large losses (or even profits otherwise too)

Finally, we all have read /heard it thousands of time. Successful people don't do different things, they do (same) things differently.

p.s. : Tip on Trading: Even for the most successful traders in the world 2 /3trades out of 10 are wrong. Brace with a fact that not all your trades will produce profits. Means SOME (anything above 2 trades out of 10 trades) will CERTAINTLY be wrong. Means exit the wrong trade IMMEDIATELY.

Regards,

Dear Nac,

W.r.t the first suggestion in my earlier post:

Hard lessons are learnt only when they are forced onto yourself. To learn from an experience, you need a stable mind not a cool mind.

By being expressive you may gain nothing but sympathy (is this your objective or definition of being a trader / jobber) or advices/suggestion from people whom you don't know. (not that I am doubting TJ members integrity and honesty). More importantly, these suggestions may be from people who might not have had being in such a situation in their lives. And still may have a word or two on this situation to you. This is nothing but noise, which you need to eliminate and not create.

You may want a shoulder at this point of time, but if you get one, you will always need one. Being independent means totally, independent. Supertraders are completely detached to what is happening to their positions, similarly you will need this independence.

Instead, I would suggest you IMMEDIATELY (before you forget in this noise) LIST down things that went wrong, how did you act and how should you have reacted. READ, RE-READ, RE-READ endlessly and basis this write down your own rules, dos and don'ts. Memorise them, paste in front of your computer screen. Read it in the loo. Take a morning jog or a evening walk and rememorise it. BUT DO IT ALL ALONE.

Remember this will be your FIRST list, similarly you will have many such more lists, till you consolidate your learnings into a SMALL set of trading rules which will finally suit YOUR OWN personality. And only after this, you will be ADMITTED to traders category. This could take several months or even years.

Regards,

p.s.: Tip on Trading : By nature and default everyone has bad trading habit, over a period and through OWN learning experiences one can keep bad trading habits away. But still, NO ONE is immune to them, the moment one is lazy or callous they will return.

Wonderfully said..! Appreciate your views...!

BUT I think self assesment is tough. Sitting with the trades taken after market hours is the key to success. Validating them with the set of preset rules and analysing the key areas of improvement is the only way to improve trading results. Developing a winning habbit is a factor of proper discipline and that can be instilled only by self assesment. Sadly, 85% of all traders spend 85% of their time on indicators and systems which contribute to only about 15% of their trading results. If a trader has a bad day... they conclusion drawn is that the system they traded needs working. After a few weeks, a new system is selected with the same results. This process of searching for the holy grail continues till either motivation or capital is wiped out.

Lets hope we see more post from people like you who take the trouble to highlight areas of improvement. God Bless you...!

 

[sanjay1876]

Dear Nac,

No sympathies to you. Absoulutely no sympathies.

On the contrary I congratulate you on making a GREAT start to your trading / jobbing career. You are down JUST 26% and you are feeling sh*t.

THIS IS THE EXPERIENCE or even worse if you lose more here after, which I really wish, if you sincerely want to make this to be your livelyhood activity.

THIS FEELING can never be felt anywhere else, not by listening, reading books, hearing. Belive me this EXPERIENCE is a MUST and is the foundation stone for trading career.

A few suggestion I would like to make to you:

1) Don't be vocal / expressive of all your feelings in public - you will dilute the learning experience and would commit same or graver mistakes in future. It is your experience and you need to go through it. Enjoy it, feel it, nuture it - get your body, mind and soul adjust to this experience. By sharing it publicly you are losing a big opportunity of learning. You may share it subsequently once you are out of the experience. This applies to Good experience as well as "Learning" experience.
2) Don't be overconfident - getting back with a bang in the market seldom wins. Vengeance trading is a sure receipe of failure.
3) Never target an amount or % gain - i.e. if you are down 26%, don't target to recover it first and so on. Returns - gains (or losses) are market dependedent. Hence adjust yourself to the market on a particular trading day/period instead of adjusting your expected returns to the market.
4) Never ever quit - other than going on vacation or personal engagements. Even if you are feeling down (like now) don't quit. But REDUCE your volume, if need be trade 1/10th, 1/20th, 1/50th or even 1/100th of our normal volume. But don't quit. You may take a break to address the strain / boredom of trading but not due to booked large losses (or even profits otherwise too)

Finally, we all have read /heard it thousands of time. Successful people don't do different things, they do (same) things differently.

p.s. : Tip on Trading: Even for the most successful traders in the world 2 /3trades out of 10 are wrong. Brace with a fact that not all your trades will produce profits. Means SOME (anything above 2 trades out of 10 trades) will CERTAINTLY be wrong. Means exit the wrong trade IMMEDIATELY.

Regards,

This guy is trading without stoploss. What else can he expect. He says he is averaging 4.xx% loss of capital daily, by that he will lose all by end of 20 days, also his losses seem to rise in geometric proportion in last couple of days maybe he'll lose all in next 3-4 days.
No sympathies for this bloke. He is doing almost all thing wrong.

 

[nac]

This guy is trading without stoploss. What else can he expect. He says he is averaging 4.xx% loss of capital daily, by that he will lose all by end of 20 days, also his losses seem to rise in geometric proportion in last couple of days maybe he'll lose all in next 3-4 days.
No sympathies for this bloke. He is doing almost all thing wrong.

Yeah, I was wrong last two days. Thank you for slamming me for the way I lost my capital. This will keep me to remember the worst I did yesterday. When someone read this, this will be a good example what he shouldn't do in trading. I will loose all my capital, only if keep on doing this mistake. But I am getting confident that this is not gonna happen anymore. I have learned a good lesson by that loss.

You can take better picture like this. Average of 10% loss in last two trading session. I made little mistake in calculating daily average. Its 3.71% daily, I mean 26% in 7 trading session (not 6). Out of 26%, 20% is my loss and 6%(rounded off) is my expenses against software and upfront brokerage.

If you got time, better come after 20 days to see whether I am still on trading or blown off.

I am not gonna quit trading
I am not gonna blow off my capital
I am gonna end up in profit by the end of first month.

 

[sanjay1876]

If you got time, better come after 20 days to see whether I am still on trading or blown off.

I am not gonna quit trading
I am not gonna blow off my capital
I am gonna end up in profit by the end of first month.

You'r on wrong track. Ican tell if you continue in same vein you'll have less than 10% starting capital in less than 3 months even if you make some profits in meantime. Reason- you are ignoring basic rules.

 

[nac]

You'r on wrong track. Ican tell if you continue in same vein you'll have less than 10% starting capital in less than 3 months even if you make some profits in meantime. Reason- you are ignoring basic rules.

I was saying, I learned a very good lesson by loosing part of my capital. I am not in any vain to recover my loss. If I execute the method I planned successfully, I will be in profit. My first month still has 13 trading days. I feel, its more than enough to break even.

Perhaps, those things sounds like I am in vain. But I am not. I am as normal as I always be. My pressure is off. I think I know some basic rules but still its better if you list 'em here. If I have forgotten any, I can remember them now.

Thank you for pointing out the holes in my attitude. These kinda suggestion and opinion helps me a lot to be in the right path.

 

[sumosanammain]

xzfnbsfrymkdt,u,l.ydilyil;l

 

[anuragmunjal]

hi sumosanammain

"A person does not need to do jobbing to make a living. Its like the worst kind of trading to do."

with all due respect I would like 2 disagree here . jobbing may be a livlihood to many, to call it 'the worst type of trading ' would be incorrect. as a matter of fact I can give u a few advantages of jobbing.

1. u use just ur mind fr trading, that is ur only software requirement.
2. u pay the least amount of margin as u r trading intraday and that too multiple times.
3. u are insulated frm any overnight risk.
4. u are taking the least amount of risk as compared 2 any other form of trading, bcos u are actually in a trade fr just a few seconds or mayb a minute or two.
5.it is easier 2 increase ur position if u feel that u are making consistent profits as u know that ur risk is always very short term.

the flip side is that u have 2 bear a high cost fr trading in this particular manner. it is a question of individual preference.



"I know people who make 200 to 300 points in nifty consistently per month..... making 5 to 8 trades in a MONTH. Something that is common for you in 15 minutes!"


I know people who have averaged (I repeat 'averaged ') 20 lacks a month while jobbing. they would not feel that jobbing is a bad form of trading.

one particular individual is able to do jobbing profitably or not or if the market is conducive for this style of trading right now is a seperate issue altogether.

regards

Anurag

 

[sumosanammain]

xcfbzdfgnsfyhmsgtymsgtm,stgutu

 

[nac]

You are wasting your time, this guy is instoppable......
Many thousands of such people come into the markets, and give us professionals their money
In fact, we need a steady flow of such people.
Sorry Nac, could not resist this post, as am reading this thread for last few days, and am surprised at your attitude.

Thank you sumo,

I am getting slammed back to back. Its good to hear from you guys. As long as I am alive and not busted there will be flow from my side. :rofl: If you are smart enough to grab it, grab it.

You just surprised or you feel that I am stupid or something. Please feel free to express. I am deserved more than that.

You say u will not repeat your mistakes... Buddy, there are a few hundred more mistakes remaining for you to discover so, if you spend 20 % ffor 2 mistakes, then you need to replenish your capital a few hundred times, by the time you would have cycled through all mistakes that are possible for a ROUTINE trader. If you are a stupid trader, add a few hundred times more recapitalisation.

Yeah I did say that I won't repeat the mistake I did. I am reiterating, I will not do it again. There may be 100's even 1000's, let me face 'em to mold myself as a trader. I am not gonna refill my account, If I am going busted rather I would accept I am a looser as a trader. I am hoping that I am not gonna busted.

A person does not need to do jobbing to make a living. Its like the worst kind of trading to do.

Opinion differs buddy.

I know people who make 200 to 300 points in nifty consistently per month..... making 5 to 8 trades in a MONTH. Something that is common for you in 15 minutes!

I have never tried futures before. I am getting my hands burned even in things I have used to. I may try it after some years.

So, if making money is your objective, then grow up.

Making money is not my objective. But since, this is my only source I can't say it ain't.

As usual, theses are my thoughts only and I may be completely wrong and you may end up as the warren buffet of India, as there are allways exceptions to the rule.

No, sumo. You can't be wrong. You would have seen many traders in your life. You are just sharing your view. And commenting about my ..... attitude. Through you guys I am getting molded better and better. Don't just follow the thread when you feel to comment. You are chiseling me when you are writing and pointing out the holes.

 

[nac]

Anu,

When I was facing post # 66, that was like ace to sumo. But the same was return ace to you.

Can you please write in detail about the last point you mentioned? or at least briefly explain

one particular individual is able to do jobbing profitably or not or if the market is conducive for this style of trading right now is a seperate issue altogether.