System M82

godfather

Well-Known Member
#12
Hello,

see .... Its normal in trading don't be discouraged....

see u have taken time to build your system.....but u have given away ur system in 2 trades. real trading is different than seeing the charts and building a system.

try to incorporate these things in ur trading system....

1).only use two indicators below ur price chart.
a).one is any momentum indicator(cci,rsi...etc).
b).volume indicator with 50 period ema applied to it.

when comes to strategy/trading system building. apply these things.

1)trend filter.(anything like 200sma or daily trend direction).
2)Volatality filter(for this Use atr).
3)volume filter(to trade only liquid scripts).
4)above all go conservative when ur testing ur system in realtime...may be 0.5% of ur equity.
5).Trading skills only comes with realtime.... dealing with on spot emotions...no matter what u implemented on previous data.

6)when u gain experience/confidence then risk more.

7)if u get positive expectancy....then u can think about optimum risk and position sizing methods. to get maximum out of ur system.

regards,
Thanks bro :) i agree with u totally...i do not have much of market experience..it all from traderji i am getting knowledge,support :) very happy...
ur point no 1 itself is a good example as i was try to add too many indicators and i missed the chart itself :lol:...
i traded much more than i have shown here...but when i searched for reasons for those trades :confused: then started failing to understand those reasons increased when started with Nifty...so think to trade options alone....when started with options its nothing but fear pullback from my entry . today i missed a chance because of over confirmation 10.30 i saw a pin bar @ 1 hr res but i just simply watched like an A@# and this i felt those frustration but i decided no to trade any more today becoz of emotional flow...LACK OF DISCIPLINE :)

i am very happy bro that u spend time to help me...and thanks bro...:)
 

DanPickUp

Well-Known Member
#14
@Godfather

Well, you now have a new system. That is great and I wish you only good success with it and with your trades. Do not know much about you as I have met you more or less only in the music thread.

As you know me: Question comes up as you wrote in post 12: Ur point no 1 itself is a good example as i was try to add too many indicators and i missed the chart itself

But in post one you told that you have a back tested system. So my friend: Why this above statement?

If I miss interpreted that in any way, then the next one:

Today i missed a chance because of over confirmation 10.30 i saw a pin bar @ 1 hr res but i just simply watched like an A@# and this i felt those frustration but i decided no to trade any more today becoz of emotional flow...LACK OF DISCIPLINE

Again: As you told in post one you back tested it, what is going on. Lack of discipline has nothing to do with a back tested system. Why do we have back tested systems? Because to take out emotions. So if the buy or sell signals come, you press the button and nothing else, as it is back tested. Such systems only work in the long run when we take every signal which occur.

As always: Nothing personal, just some thoughts and some input to motivate you in your ongoing journey. :clapping:

Take care and next time press that button / DanPickUp
 
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godfather

Well-Known Member
#15
@Godfather

Well, you now have a new system. That is great and I wish you only good success with it and with your trades. Do not know much about you as I have met you more or less only in the music thread.

As you know me: Question comes up as you wrote in post 12: Ur point no 1 itself is a good example as i was try to add too many indicators and i missed the chart itself

But in post one you told that you have a back tested system. So my friend: Why this above statement?

If I miss interpreted that in any way, then the next one:

Today i missed a chance because of over confirmation 10.30 i saw a pin bar @ 1 hr res but i just simply watched like an A@# and this i felt those frustration but i decided no to trade any more today becoz of emotional flow...LACK OF DISCIPLINE

Again: As you told in post one you back tested it, what is going on. Lack of discipline has nothing to do with a back tested system. Why do we have back tested systems? Because to take out emotions. So if the buy or sell signals come, you press the button and nothing else, as it is back tested. Such systems only work in the long run when we take every signal which occur.

As always: Nothing personal, just some thoughts and some input to motivate you in your ongoing journey. :clapping:

Take care and next time press that button / DanPickUp
@ DanBro

first of all thanks to u bro for giving a nice attention to my thread and my problems :)...

here i comes....bro p1 itself at the last point i mentioned For My trading i set some basic rules which have to be edited,added,deleted..... i told back tested so i will taking it live even though i am not confident which i mentioned through last sentence and i posted 3 trades in P3 ok...then things got changed i was having trades comes both ways its normal i agree but with my poor knowledge about market makes my in to :mad:so i try to change system which was not fixed as i mentioned in p1 and in p6 i mentioned about modification...:) from that i tried to add,del.....then comes feeling bad ...lack of trading knowledge guyzz...

removed all those indicators i cannot trade with them better not to look those...
and as i mentioned in p6 modified system is not back-tested
from that point i am concentrating on S/R lines and patterns...dan bro i am not much experined in handling frustration that makes me :mad: and i decided to control those and will try to get Disciplined as my journey continuous..

hope that i have answered u questions and i do agree it was my mistake i am not maintained my dairy well here...so many points missing:D
i have to mention ravi bhai,augubhai,ST and taiki ... i have been in regular touch and thanks to them for answering my queries when ever i gone to them

hope u will be there to motivate in my ongoing journey:clap::clap:

:)
 

Tlahuicole

Well-Known Member
#16
Mr.Godfather,

First of all good luck, but please explain why your system is named as M82, it sounds like some missile name :D, just kidding. Take it in a friendly note. All the best for your trading business. Please do visit my posts in my trading log and your advice would be valuable.

DanBhai please you too visit my trading diary and advice then and there if you get time:clapping:
 

godfather

Well-Known Member
#17
Mr.Godfather,

First of all good luck, but please explain why your system is named as M82, it sounds like some missile name :D, just kidding. Take it in a friendly note. All the best for your trading business. Please do visit my posts in my trading log and your advice would be valuable.

DanBhai please you too visit my trading diary and advice then and there if you get time:clapping:
missile :lol:

Hai Tlahuicole,

:rofl: sounds like some missile name:lol::rofl: i cannot stop :lol: yes it is something like that but not missile bro...M82 is one of my favorite :D thanks for ur invitation to ur trading log...:)
 

godfather

Well-Known Member
#20
:) i would like to copy-paste some points from one of the book i read so that we can keep an eye on those points...

How to Become a More Disciplined Trader
1. Treat trading as a business.
2. Get someone to keep you on track.
3. Review your trades.
4. Set reasonable trading goals.
5. Tackle the easy problems first.
6. Review your performance.
7. Make trading rules and keep them visible at all times.
8. Make a trading plan.
9. Make a game plan.
10. Have a trading strategy to follow.
11. Ask yourself before every trade, “Is this the right thing
to do?”
12. Do your homework.
13. Work hard to improve.
14. Use hypnosis.
15. Just do it.

How a Lack of Discipline Hurts a Trader
1. Not being able to follow proper trading rules
2. Over trading
3. Lacking focus
4. Having poor entry points
5. Chasing the market
6. Not waiting for higher probability trades
7. Trading in choppy markets
8. Trading against the trend
9. Trading without a game plan
10. Not being prepared for what the market has to offer
11. Not following risk parameters
12. Letting emotions run rampant
13. Not being able to cut losses
14. Not being able to hold winners
15. Being nonprofessional
:)
 

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