I beg to differ in just one of the lines.
We cannot win if we feel we are fighting with self/other traders/markets....
Why fight... just flow with the movement, its possible you may take multiple small losses before getting the trend right, but thinking of the mkt as going to war with other traders and trying to battle your way to victory will make things more harder than they really are
We cannot win if we feel we are fighting with self/other traders/markets....
Why fight... just flow with the movement, its possible you may take multiple small losses before getting the trend right, but thinking of the mkt as going to war with other traders and trying to battle your way to victory will make things more harder than they really are
Thanks sir,
this view is because.............we r by birth not at all trader,......say first doing ur swot.........u know what u r,......so from somewhere u r transforming u a trader.
First i am giving a hypothetical case,.......a math postgraduation topper, shifting to a trader. As to learn trading,......it takes time,........so u r doing some formula - model to know ,what may work as a trader for u.
U may choose.......arbitrage model, or simple random mean reversion, even excel based fundamental equity based.......forecasting proforma model. Now u find , based on actual what is gap,........ie. error,.......but being trained mathematician,......u cant take.......possibility for absolute number to change, objectivity works for u,........but since system itself is variable,.........u have to understand.........block with number itself is harmful for ur development as trader,......conceptually to take 300pt up, followed by 450pt down within 3 days......tells either ur programming is wrong OR ur mathematical idea-notion is wrong.............this is a type of internal fight.
similarly u understand........u have u learn certain thing,.......but time constraint or other priority ..........makes u choose...........so again come fight against U.
Next i am telling my chess case,.......in chess as i have learnt in childhood.....understand pattern , but for competition...........u must fight till death,........use ur best defence skill ......when playing against GM.
.............now understand the problem with me,.......i was known as av chess player........my rank was within single digit,in my state in 1975.......and after that with chess study of 10 yr.........later i am shifting to tradelearning,........
YES u r not supposed to fight,.........but i can not take loss,.........simple a trade loss is nothing.........just wont hold it,.........or else face mother of all loses...........a la 5lakh..............i know how much bleed by it.
In trade ,pure small losing trade should be thrown out first...........but due to my different conditioning i showing fight back attitude,......create trouble for my trading a/c..........this i call fight within self.
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Yes against other trader means opposite direction u have to commit with money.
But against Market...........particularly flow of FII?MF.......i should be with nor against them.
FOR stopping newspaper/tv .......only to follow by price..........it takes me lot restriction .......more than 3 yr........here also i faced internal fight in mind.
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hope i clear my view.......So far flow with flow is best........but is difficult for me