Need a mentor

[techtrader2]

Thanks Altaf

This is a rock solid system..

For NF it is intraday...about 1-2 trades a day..trades are taken on 5 min charts in direction of trend in higher timeframe..average SL is 10-15 points...60% strike rate...RR of 2.5:1

BNF is a swing system....Average SL is 70-80m points and RR is about 2.5:1

This was taught to me by a trader who has been trading for more than 12 years....I haven't come across a better trader who can trade NF intraday...he is my Guru for systems...

 

[altaf petiwala]

Since my domain is Intraday, I shall concentrate on the Nifty system

Nice to know that you have a structure in place. Most traders dont.

R/R is on paper, or have you been actually managing 2.5/1 ?

Please, some, or in fact, most questions are going to border on the rude side, but please remember, there is no sarcasm involved. If you are uncomfortable exorcising your demons here, do suggest a way to communicate outside this.

 

[altaf petiwala]

For how many years do you have a back test report?
Are you able to match your backtest of june with your ledger?

 

[techtrader2]

Backtest is for 4 years...system has been traded by my guru since 2.5 years...i have recently started trading it...

 

[altaf petiwala]

Backtest is for 4 years...system has been traded by my guru since 2.5 years...i have recently started trading it...

Good.
In the last one week, how many times have you broken any rule.
Irrespective of the outcome of the breaking of the rule.
Do you feel like you have done a big, huge paap, when you break a rule?

Or do you break the rule and want your divergence to pay off and start praying that the trade you just exited doesnt work out, so that you are vindicated?

 

[techtrader2]

i haven't broken the rule....actually thing is with me if i design a system on my own I can break the rule if i have 5-6 losing trades...but since the system is designed by somebody far more experienced than me it's easier to follow it...like firing from somebody else's shoulder....but i agree with you...when i break the rule i feel i have committed a crime

 

[altaf petiwala]

i haven't broken the rule....actually thing is with me if i design a system on my own I can break the rule if i have 5-6 losing trades...but since the system is designed by somebody far more experienced than me it's easier to follow it...like firing from somebody else's shoulder....but i agree with you...when i break the rule i feel i have committed a crime

You have all the makings of a good trader, techtrader Do you really need mentoring? You have reached the stage that very few people actually reach, that is execution of the system. Most traders die a slow death, just while designing a system

 

[techtrader2]

yes that i the reason i dont want to focus on system design...that is just 30% of the equation and most spend 200% of time on it...i want to focus on psychology and MM...

what do you trade currently and what are your views on this?

 

[altaf petiwala]

yes that i the reason i dont want to focus on system design...that is just 30% of the equation and most spend 200% of time on it...i want to focus on psychology and MM...

what do you trade currently and what are your views on this?

I trade the Nifty, intraday, and you are entirely wrong, 90 % of success depends on MM and psychology.

HINT: Ever wondered why 90 % of traders fail?
They are designing their systems only, not strengthening their execution domain.

 

[sultan5000]

if you like to trade nifty option you can follow me...
http://www.traderji.com/derivatives/71586-sultan-option-trades.html#post701715