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Reliable approach to Trading

Discuss Reliable approach to Trading at the Day Trading within the Traderji.com; The aim of this thread and poll is to shatter the myths and establish reality ...


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View Poll Results: On your path to successful in trading?
Blown my 1st trading a/c 37 29.37%
Blown my 2nd trading a/c as well 32 25.40%
Blown my 3rd trading a/c and more 53 42.06%
Burnt fingers subscribing to Tips providers, Buy/sell softwares, seminars 26 20.63%
Learnt trading on my own 73 57.94%
Learnt trading through a mentor 12 9.52%
Learnt trading from Internet 72 57.14%
Learnt trading from books 37 29.37%
Had made losses for less than 3 years before succeeding 29 23.02%
Made losses for more than 3 years before succeeding 40 31.75%
Multiple Choice Poll. Voters: 126. You may not vote on this poll

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  #1  
Old 11th October 2015, 12:16 AM
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Default Reliable approach to Trading

The aim of this thread and poll is to shatter the myths and establish reality of trading.

I request one and all to participate in the poll generously and more importantly with integrity.

You can choose more than one choice as per suitability.

You can make a post here if you like add some more info.


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Last edited by suri112000; 11th October 2015 at 12:43 AM.
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  #2  
Old 11th October 2015, 09:08 PM
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Default Re: Reliable approach to Trading

Enough of the hype of trading. It is time to break the ice and come out with the truth about the real experiences of trading.

Losses are inevitable. To add to the woes, it is demanding years of suffering pain of loss before you break even or taste the success.

The poll aims at establishing the truth of trading. So, donot hesitate to vote based on your experience.

Afterall why to suffer silently for the ordeal of pain imposed by trading costing hard earned money, precious time and mental/emotional strain.

Its an effort to make a consensus about the trading reality and truth contrary to the hype.
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  #3  
Old 12th October 2015, 06:34 AM
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Default Re: Reliable approach to Trading

I think two more questions would be good to add...

1) Are you consistently profitable now?
2) Did you backtest your system?
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  #4  
Old 14th October 2015, 10:05 PM
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Default Re: Reliable approach to Trading

Two important things have surfaced so far.

1. Losses in the first 3 years of trading are inevitable. So, plan your first 4 years of trading very carefully as you will not have any income from trading and further you need to face continuous losses during this period. Ideally you should have 4 years of living expenses. Expect atleast your first 3 trading accounts to blow out. It is wise to spread out each trading account to last for atleast 1 year. For your first 4 years of trading, your first year trading a/c is to be funded with 8-10% of your funds (which excludes your 4 years living expenses). Remaining amount is to be put into safe interest bearing instruments so as to generate sufficient interest to fund your 2nd and 3rd trading a/cs so that your losses will not eat into your base capital and keep you in the game for longer periods.

2. Trading is basically a skill which can be mastered by self training which imparts a nice blend of trading psychology, risk control and control of emotions such as fear and greed. Good Base is important here to make. It is possible by regular accessing of internet sources (be smart to distinguish between useful and crap) and from books written by well known authors.

==================================================

Its my humble request to all to participate in the poll and make it a sizable sample to derive the facts of trading.
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  #5  
Old 12th November 2015, 03:35 AM
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Default Re: Reliable approach to Trading

Quote:
Originally Posted by suri112000 View Post
Two important things have surfaced so far.

1. Losses in the first 3 years of trading are inevitable. So, plan your first 4 years of trading very carefully as you will not have any income from trading and further you need to face continuous losses during this period. Ideally you should have 4 years of living expenses. Expect atleast your first 3 trading accounts to blow out. It is wise to spread out each trading account to last for atleast 1 year. For your first 4 years of trading, your first year trading a/c is to be funded with 8-10% of your funds (which excludes your 4 years living expenses). Remaining amount is to be put into safe interest bearing instruments so as to generate sufficient interest to fund your 2nd and 3rd trading a/cs so that your losses will not eat into your base capital and keep you in the game for longer periods.

2. Trading is basically a skill which can be mastered by self training which imparts a nice blend of trading psychology, risk control and control of emotions such as fear and greed. Good Base is important here to make. It is possible by regular accessing of internet sources (be smart to distinguish between useful and crap) and from books written by well known authors.

==================================================

Its my humble request to all to participate in the poll and make it a sizable sample to derive the facts of trading.
Hello,

I totally agree with ur 2nd point ...,the first point is varies from person to person .
To shorten the learning curve, one has to acquire the things u said in ur 2nd point as early as possibe

Here I want to mention one of freind story.....,both of our trading career start at nearly same time.

He traded the pivot method for 2 months and made lot of money nearly 130% ,in later 15 days he loses 50% of profit he made.he stopped the trading,For 1month
He came back to trading and in a month he losses another 27% of his profits,but from 2nd month of his came back he again started to make profits,till now he is trading the same method with different approach which he mastered in 1 month gap he taken.

U people might be thinking that what he has done to his method...,he realize that there is problem in exit strategy(which is a deciding factor for make or break).

So his journey of trading started with no initial capital wipeout.I know its a rare case.what iam trying to say is u no need to wipeout ur account 2 or 3 times to learn trading if u understand what takes to trading...,and its only ur mind/psychology.

Regards,

Last edited by jahan; 12th November 2015 at 12:50 PM.
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  #6  
Old 13th November 2015, 06:39 PM
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Default Re: Reliable approach to Trading

One of my senior collegues has been doing the following for the last 20 years. He picks up a magazine like Dalal Street, Capital Market. He picks all the dividend paying companies which are priced below Rs.20. He does not know what is trading all about. He invests money into them out of his savings. He never bothered to sell any of them or to look their profit or loss. But he logs a diary with details like company, price bought, no of shares bought, date of purchase, dividends received, rights issue subscribed, bonus shares received, shares received on take overs/sell offs etc.

One day I told him to make a P&L. To my surprise 80% of his holdings are worthless either because they are not quoting or existing as of now. But his remaining 20% holdings have emerged as multi baggers.

His total investment amounted to close to Rs.30 lakhs. Whereas the present value of his investments are more than Rs.15 crores excluding the dividends if any received.

Is he replicating Warren Buffet?
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  #7  
Old 23rd November 2015, 11:35 PM
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Default Re: Reliable approach to Trading

Facts surfaced so far

Success/Failure rates

1. More than 90% of the traders have blown atleast their first trading account (if not more).

2. More than 68% have blown a minimum of 2 trading accounts.

3. At least 36% of the traders have not become successful even after 3 years of suffering bolts of losses.

4. Around 44% of traders suffered losses for more than 3 years before they became successful.

5. Only 20% of the traders have become successful in less than 3 years.


Genuine/Favorite Learning inputs

1. Internet is the favorite hub for the learning of trading among 54% of traders.

2. 52% of the voters acknowledge that self learning/training is the key for success in trading.
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  #8  
Old 24th November 2015, 12:27 AM
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Default Re: Reliable approach to Trading

@Suri112000

Your above post shows just the basic of your questions and summary which is already nice and absolute worth even to see. So

Next level: What about having a look at the different questions and answers and compare them in the whole picture?

Like did the once on Q1 make it with Q2 and Q3 and so on. This would give an other impression of the whole topic.

Take care / Dan
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  #9  
Old 24th November 2015, 07:12 PM
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Default Re: Reliable approach to Trading

It seems there is some confusion in selecting the correct choice.

Here are the clarifications.

1. Donot select last 2 options if you feel you are not successful yet.

2. Select option 1, if you blew only one account and are presently trading in second trading account.

OR
Select option 2, if you blew your first and second trading accounts and are presently trading in third trading account.

OR
Select option 3, if you blew your first, second or third accounts and are presently trading in fourth trading account.

Note :- There is no option for traders who are still trading in first trading account and are not successful yet.

3. Select option 9 if you become successful within 3 years without blowing any account.

OR
Select option 1 and option 9 (both) if you become successful within 3 years and in the process you have blown 1st trading account.

OR
Select option 2 and option 9 (both) if you become successful within 3 years and in the process you have blown 2 trading accounts.

OR
Select option 3 and option 9 (both) if you become successful within 3 years and in the process you have blown 3 trading accounts.

4. Select option 10 if you become successful after 3 years without blowing any account.

OR
Select option 1 and option 10 (both) if you become successful after 3 years and in the process you have blown 1st trading account.

OR
Select option 2 and option 10 (both) if you become successful after 3 years and in the process you have blown 2 trading accounts.

OR
Select option 3 and option 10 (both) if you become successful after 3 years and in the process you have blown 3 trading accounts.

Remaining options are self explanatory and you can choose any or some or all of them as suitable to you.
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  #10  
Old 26th November 2015, 06:16 PM
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Default Re: Reliable approach to Trading

I strongly believe that winning in stock markets is a matter of skill and discipline, not luck. You require enough details about the stock and proper tools for successful trading.

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