Dear All,
I am facing perhaps the paradox of my life. It goes like this:
I want to push myself away from the trading screen as much as possible, i.e I want to work on a higher time frame rather than a lower time frame. The primary reason being, my decision making skill is a glorious mess. And hence trading with a faster data will only make me lose my money faster. Hence for a guy like me, intra is a strict no-no.
Yet the problem is to trade and catch swings on even a daily or weekly basis, I dont have sufficent money to risk.
Lets assume, I short NIFTY on 12th September, wow!it looks like a fantastic ride could have been mine.That day it closed below EMA[11] and EMA[11] crossed EMA[22].
So if I would have shorted NFTY at 4228 levels and set EMA[11] on 12th September as my SL, which is approx 4372,my heat of the portfolio on that day would have been 21%. [Of course now it will be around 17%, so do the math]
But inherently my point is, my rules doesnt allow me to take this much of risk, and knowledge of my own abilities doesnt allow me to go to a smaller time frame with lesser risk and faster data.
Seniors, you remember how frustrating it was, in your olden days, when you just wished if somebody was there to guide you. Remember the gratitude you felt when somebody helped you improve your skills on which you were struggling so much?
I am in that position, and I am looking up to you, to guide me.
As the Jewish proverb goes
Save one man, and you save the entire world over
I am facing perhaps the paradox of my life. It goes like this:
I want to push myself away from the trading screen as much as possible, i.e I want to work on a higher time frame rather than a lower time frame. The primary reason being, my decision making skill is a glorious mess. And hence trading with a faster data will only make me lose my money faster. Hence for a guy like me, intra is a strict no-no.
Yet the problem is to trade and catch swings on even a daily or weekly basis, I dont have sufficent money to risk.
Lets assume, I short NIFTY on 12th September, wow!it looks like a fantastic ride could have been mine.That day it closed below EMA[11] and EMA[11] crossed EMA[22].
So if I would have shorted NFTY at 4228 levels and set EMA[11] on 12th September as my SL, which is approx 4372,my heat of the portfolio on that day would have been 21%. [Of course now it will be around 17%, so do the math]
But inherently my point is, my rules doesnt allow me to take this much of risk, and knowledge of my own abilities doesnt allow me to go to a smaller time frame with lesser risk and faster data.
Seniors, you remember how frustrating it was, in your olden days, when you just wished if somebody was there to guide you. Remember the gratitude you felt when somebody helped you improve your skills on which you were struggling so much?
I am in that position, and I am looking up to you, to guide me.
As the Jewish proverb goes
Save one man, and you save the entire world over