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If its any consolation, the successful traders that I met so far took atleast 4-5 years before they achieve success in trading. So, take your time and learn, practice.

Take a technique mark entry ,SL, TSL, exit on charts.

I was many times told that I must have some solid strategy,better RR and Money Management Rule.I lack all of these and I don't understand any of these.But when I see people around me who has already these things and still losing,I really feel bad for them.

The world outside TJ says that money can not be made and looks like we both proving them right :lol:

bhai , see it this way , ok both are losing but if you have a method and MM then chances are you may be successful after some years practice ,
without method and MM no chances for success.

absolutely right bhai. there is more to trading than all.

regds

Without developing/identifying a trading edge NO MM, RM, PSM works....without finding out your trading edge there is no progress... even u try 10-20 yrs..or long..
IMO,,, What is actually a trading edge?? Its just give a higher probability of a trade working than not working...
Identifying opportunities with patience AND THEN Courage to pull the trigger... NOTHING ELSE..

With a strategy having an edge,RR,MM a trader has much increased chances of success.If one analyses a ledger of any losing trader,one always sees many large size losses where MM has gone for a toss.

Everybody cannot be a successful trader. If one believes that trading cannot be profitable,then he has already lost the game in his mind.Every successful trader during his initial learning/losing period strongly believes that if he overcomes his shortcomings,he will be successful in trading and he works towards that goal.

There are many other businesses outside trading and markets where one can be successful,may be one becomes successful in one of those.

Smart_trade

A trader should first think of risk instead of focusing on profits.Keep reducing the risk and the profits will take care of itself.

Read this thread in weekend

http://www.traderji.com/general-tra...hy-day-trading-tough-only-2-3-successful.html

Hi Aja,

Very sorry to hear about your financial loss. Many of us have been there, done that !! There is no easy way out from your distressing situation. It's actually time for you to have a hard look at the facts/events at hand. I could not help but mention another post i wrote to another poster sometime ago. Please see the link below. Wishing you lots of luck !!

http://www.traderji.com/energy/93072-real-trading-logs-tamil-trader-new-born-baby-2.html#post950116

Can you please tell PSM ka full form, so that i can add it in Glossary thread.