Advice needed...

First I thought of posting in Psychology section but it also relevant to general trading chat so here it is,

I have turned full time trader.It was not really calculated move but somehow I ended up without work and As I was trading part time for last two years ,I felt I do have a future in this and here I am.I was trying my luck,you can say.

But after turning full time there appeared some unanticipated problems.

1.I have started trading late 2012/early 2013 with SBICAPSEC.It felt interesting.It felt amazing.I invested in a dead cat bounce and promptly lost few money.And then I continued loosing.One day I lost my Biggest - Rs.12000 in one trading session but amazingly my total loss till 2015 didn't cross Rs.25000(including that Sucker punch).So thats an acceptable loss for me(considering close to three year time frame).

Losses came in regular interval.A stream of continued losses.I was not badly hurt as i had a suspicion that I will loss in the initial days and kept my size extremely small.,with a very tight stop loss.

From last year I started to bet more but though my losses continued but intermittent gains offset the losses.Almost no profit no loss scenario.Even I am with Zerodha I am seeing that all my losses are actually donation to Zerodha.

Now for last one two months I am actually gaining,in the sense that there is a regular winning streak.Yes there are one or two intermittent loss but over all I am not loosing.Problem is my since I kept my losses small initial days my gains are also small nowadays.
What happens is after few points i am out of market taking small profit and within 5 minutes markets are proving that there was buttload of money to be made.In other words I can pick out opportunity but leaving the table without taking my earning.Its a mind problem I think.The stream of losses in my earlier days has made me extremely wary of making losses and I am getting out early taking small profits.How do you convince your mind to stay on track?
I am really fed up.....Even if I think I will not get out but still I am pressing the button and getting out early.

Any suggestions...??

2.Secondly,70-80 percent of time market sleeps and then it suddenly starts to move.How do you kill that time.I can configure an alert but its right now bit complicated and Since I use head phone unless I am sitting in my table I will not hear the alert.

As long I sit in front of monitor it doesn't move,and the moment I go out to stretch my legs,it starts to move.Even when I am sitting in front of laptop,the slow action 70 percent of time( two point up and two point down for etenity) can drive anybody crazy.If I open youtube ,Market takes the que and starts to move.

How do you keep your concentration and stay in one place.Do you move/go out/watch t.V ...what do you do?If you are not in front of PC and market moves what do you do?

3.Trading is a business.So you need things.What do you think are essential items.For example for last few months,bending my spine in a weird position due to my chair is giving me problems.So do you invest in good chairs and staff like that?What do you think good investments which are needed?

Hi,

I am a full time trader. Intra day I trade only nifty future.

Self discipline is one of the most imp trait as per me, particularly when trading intraday concentrate only on chart no youtube no forums nothing, no stretching of legs, no phone calls even for me no music and all do it after mkts, these things can wait BUT mkt does not wait for you.

during the mkt just focus on chart. If your mind is getting distracted or you are not able to concentrate better log off from the terminal then to loss money or opportunity.

I know its easy to preach and advise but difficult to follow. But trading is also not easy as there is loads of money to make. So choice is in our hand.

I also had the same problems in my initial months. The solution I found out and which still works for me is I started focusing on my fitness and more imp focus on maintaining my fitness on my own doing body weight exercises on my own( very individualistic approach). I was having zero knowledge about exercises and fitness BUT study and read a lot about it (still do study, as it has become passion for me just like trading). WHAT is does is that it wired my mind to motivate my self and built self discipline.
My suggestion is to pick up any thing other than trading and focus on doing it on you own without any support.

You dont require much of stuff to trade full time. I have 7 years old laptop with xp which still works well. A decent big size push back chair and a computer table which I got second hand from a relative.

regarding how to hold the position for long I dont have any thing to say as I dont know what is your method system etc.

to make money in intraday trading hold your pee till mkt is not over else you may miss the profit.

reds,
s

@RiddhiPD

Here something on a lighter note and kindly take it as this, as a laugh is good for our health. Now what do I want to say with this post?

I guess most here have not an "English mother tongue", instead some other languages. This fact even belongs to me.

Now you wrote: For example for last few months,bending my spine in a weird position due to my chair is giving me problems.So do you invest in good chairs and staff like that?What do you think good investments which are needed?

Now what do I want to say: I do not know how many of us have invested in chairs, even it may be is an interesting business and some of those chairs look very nice and funny





but I am sure you meant some thing else which is called "Shares" http://www.investopedia.com/video/play/shares/

I do not know which browser you use, but there are tools which are called "Dictionaries". There you have the "Spell checker options" for different languages and this is what I for example use every time before I do any posts in "English". I highly recommend you to do the same to avoid further miss spelling which in this case is of no harm, but in other cases could become a problem.

As told: The post is really on a lighter note and I would appreciate you really take it as that.

Take care and all the best / Dan

Nw I am feeling bit dumb because I wrote chairs and I meant chairs.I was thinking of buying good ergonomic chairs but they are so costly so I was asking before I invest a good amount of money on ergonomic chairs.

I don't even trade shares.Burnt my fingers and left the scene.

Thinking of joining Laughter club though...maybe that will be good for health...

Gonna take up exercise because i never realised how much stressful it is just to sit.

Ok, I see. The words "my spine" was interpreted in an other way and so my mistake. Out of this interpretation, at the end the chair muted to shares and thats why I then made the above post. So not you must feel a bit dumb instead me. But as you seem to take it with humor, nobody hurt or wrong feelings and you even now surely will have a smile about me

"How to organize our trading work place" is part of your question. Sitting on an ergonomic office chair will make you feel well during trading hours. An alternative I do some times is using a so called "Ball Chair". This gives some changes during long hours on the screen and feels good. As I see in the post of "Sheerbaz", he already has mentioned to do some kind of exercise beside trading hours. Here you will need some discipline to go and do it, but it will help you even to have more concentration during the day. Other effects are weight loss and a tighter body, which will improve your body feeling in different ways.

About your other topic: How to stay focused on any trade money is invested?

No idea what kind of trading plan/s you have and how deep they are out worked, but you must have one according to your post. Your post gives no idea about which market you trade but you mention two points up, two points down, so it could be either some kind of commodity or you may trade currencies. What ever it will be, if the one market you choosed is too slow for you, change to an other, more volatile script/s. Question here: Is your trading plan made for volatile markets?

Also according to your written words: You seem to go for short time trades and so you go in and out probably a few times a day. This way of working needs also that you stay at all the time in front of the screen, as you do not want to miss opportunities in case you do not have a 100% auto trading system. Doing this kind of trading needs very high concentration for a long time. To reduce this, there are different ways you can work out by creating other trading plan/s. This works perfect with option trading and with hedge strategies trading, as here we can trade total different ideas under total different market conditions in total different markets. It takes time to work out those specific trading plans and if done in all the needed details, they will reduce stress. According how you worked them out, you will even be able to not sit at all the time absolute high concentrated in front of your screen. I for example love to test software and other thing on computers during times there is no action in the market or my pre placed orders are still not filled. Now if an oder or orders are filled, then the specific trading plan or plans are followed. As I believe and know in there success, it takes less motivation to be concentrated on those trades and it is not as heavy as you probably face in your situation to stay on track.

Any way: Not sure if you even can use any of the above written in your case, as my way of trading has nothing to do with jumping in and out of the market the whole day long for just a few points profit.

Now I wish you all the best with your health and all the best with your trading / Dan

Here two links about chairs:

Office Chair: Choosing the Right Ergonomic Office Chair: http://www.spine-health.com/wellness/ergonomics/office-chair-choosing-right-ergonomic-office-chair

How Ergonomic are Ball Chairs?: http://www.ergo.human.cornell.edu/cuBallChairs.html

Riddhi,


Something to ponder :

1. Analyze your trading pattern. Check which time you trade and the time market provides momentum. If you have a log or record of your trades, you will notice that 80% of your profits will happen after 11.30 AM. This is just my view, and may need to be verified basis your trades. If correct, you can start to trade fewer hours and you will be more alert and refreshed as well.

2. The other alternative is to join a group of traders, or trade in a brokers office. There are cons to this - but worth a try...

My 2c.