soliloquy of a looser Trader

[sabharwal_RK]

Hi Guys,

I am starting this thread just to vent out my feeling about my life/career/trading. Please don't mind if you feel that I am being excessive negative/positive regarding anything be it life/trading/career/country or anything.

Starting with a brief intro about myself.

I am an engineer plus MBA finance (yeah I am over qualified but under skilled for this business). I am, working in a top organization as a corporate slave but that pays my bills. Daily I drag myself to work and wait for the ordeal to get over.

Trading has ruined my career but its the only hope for me as of now.

I started as a delivery based trader (at a age of 18) made it big only because of good luck (bull market of 2007). Luckily I cashed out at mid 2007 because I decided to take a job. I worked in the IT sector but my heart was in the market so I left job after one year and took admission in a top MBA college (I dreamt of becoming a fund manager at a MF). But MBA was not my cup of tea, and I only managed average performance and got an average job, and now 4 years into this slavery and trust me it sucks. I wait for Mondays not because of my job but to trade in market, I am sad on Friday because markets will be closed for the weekend.

All my knowledge about trading can be attributed to Traderji, STda, Saint sir, NiftyNirvana and YTC trader.

Thanks to all for reading my bakwaas (I may delete it someday)....

PS: Sabharwal is not my original name, I just liked the name it sounds powerful


:thumb::thumb::thumb:

 

[sabharwal_RK]

I trade Relcap todays trading chart.

Total profit 1000 (approx)Rs on a capital 100*450 = Rs 45000

First trade was taken above the 1st bar reason being market positive and above yesterday's high.

Second trade was taken as a TST/BOF of low of the day.

 

[manishchan]

Hi Guys,

I am starting this thread just to vent out my feeling about my life/career/trading. Please don't mind if you feel that I am being excessive negative/positive regarding anything be it life/trading/career/country or anything.

Starting with a brief intro about myself.

I am an engineer plus MBA finance (yeah I am over qualified but under skilled for this business). I am, working in a top organization as a corporate slave but that pays my bills. Daily I drag myself to work and wait for the ordeal to get over.

Trading has ruined my career but its the only hope for me as of now.

I started as a delivery based trader (at a age of 18) made it big only because of good luck (bull market of 2007). Luckily I cashed out at mid 2007 because I decided to take a job. I worked in the IT sector but my heart was in the market so I left job after one year and took admission in a top MBA college (I dreamt of becoming a fund manager at a MF). But MBA was not my cup of tea, and I only managed average performance and got an average job, and now 4 years into this slavery and trust me it sucks. I wait for Mondays not because of my job but to trade in market, I am sad on Friday because markets will be closed for the weekend.

All my knowledge about trading can be attributed to Traderji, STda, Saint sir, NiftyNirvana and YTC trader.

Thanks to all for reading my bakwaas (I may delete it someday)....

PS: Sabharwal is not my original name, I just liked the name it sounds powerful


:thumb::thumb::thumb:

There are a few here in TJ wid similar stories... no worries.. continue the fight. Be disciplined in trading... it takes time but u will get there..

All the Best !! btw.... your trade above in rel looks pretty good :thumb:

 

[copypasteaee]

There are a few here in TJ wid similar stories... no worries.. continue the fight. Be disciplined in trading... it takes time but u will get there..

All the Best !! btw.... your trade above in rel looks pretty good :thumb:

huh what is discipline? discipline to bleed your account with confidence!! IMHO you need to understand what is happening. Every day is not same and every day same rules do not apply. The rules are meant to be broken. In certain trade one identifies that my trade is not working,Should he hold on and allow market to hit his SL or should he pre-exit his trade?

Nothing personal my friend, just giving my opinion about discipline.

 

[manishchan]

huh what is discipline? discipline to bleed your account with confidence!! IMHO you need to understand what is happening. Every day is not same and every day same rules do not apply. The rules are meant to be broken. In certain trade one identifies that my trade is not working,Should he hold on and allow market to hit his SL or should he pre-exit his trade?

Nothing personal my friend, just giving my opinion about discipline.

Yes.. discipline is to take d loss as one wud take d profiy..each nd everytime. I agree... everyday is not the same that is why one needs to have a perfectly backtested method wid positive expectancy, enough capital to sustain d drawdown and emotional control. No one can trade d everyday market wid single method..so better to have 2-3 methods which are backtested nd practiced. But if one chnages d rule nd breaks it everytime then God bless him/her.

To ur 2nd doubt... if soneone has enterd nd placed SL, the SL must be defined based on some logic..it cant be just a random number.. now where to get d logic from.. from d backtesting u hv done for ur method. Again..one can either hold to get out wid SL hit when trade doesnt work or can take early exit.. both have its pros nd cons. No one can predict dt after entering d tradr, it will move in profit. All we as traders can do is manage d risk.

 

[sabharwal_RK]

Fault lies with us not with our jobs.

There are at least 100 people who are ready to do the same work at half the cost and put into double the effort. If we dont like our job then its our prob; you are paid to do the work not to enjoy the work. Anyways today I have to build a financial model of a swiss based company, it will take some effort and doing.....

All the best guys for today's trading.....

apart from Relcap; HPCL too is in my watch list for today it might go up against the market....

 

[onlinegtrash]

>> soliloquy

The first word of your thread made me think "This must be a MBA guy"... and I was right! YAY!
Nice to have you here!

 

[sabharwal_RK]

Touch day for me lost 5 points on Relcap. Was not 100% disciplined, fear of loosing made me put thin SLs which got hit regularly. Took at least one trash trade. Could have done better shorting on 1 min chart in the morning.

Was a busy day at work, but interesting one for a change got some interesting work.

Miss you dad, keep your blessings with me always.....

 

[sabharwal_RK]

Another bad day @Trading

My SLs are getting taken out by the legs/false movements in the stock....

 

[test123]

Above chart is perfect example of 1-2-3-4-5 then called A B C :xD love that...

now is time zor lagda de.. buy in truck load .. this is the moment :xD

hates MF managers ... money is of crowd and they do false movements...trapping small investor..

to all the MF managers :-trade with hard earned money and you will
know ^ SOn>of>B itches

Sl --> Are meant to be broken ..Trust me they know what we know !!