Yes..I am a success full Trader..because...

hi
dear Expert traders...
Every trader trade using own basic system..but some are winner and major are looser... why it happen?? system is always right...then why we lose ..so please those trader who believe that they are success full trader please share your secrete to forum which u daily follow ..we are very thank full for your guidance ...........Navin

I am in no way expert just a learner, but successful traders have a system that they can trade without any emotion. Their system has positive expectancy with back tested results.

Trading is a tough game, and 80% lose, 10% manager to make a living and top ten percent only are the titans. These people become rich with trading.

So many will always lose, other wise the cycle is not fulfilled. Your goal is to make it in top ten percent.

Few cents from my side:
No system is fool proof so the real difference between being successful or a failure is money management
You must have guts to book your SL
If I buy something for rs.100 then the moment it reaches 101, i start thinking "chalo target book hua, ab aur kitna jayega" and we are in hurry to book targets , but if opposite happens then at 99 we think, "abhi wapas aa jayega, itta gir gya aur kitna girega" then 98 then 97..... In last its too late.
So you must have strict Risk:Reward ratio in your mind.
Make a system with thousand eyes open but when you are over with backtesting in all types of markets then you must stick to it blindly
I too have a system with not much profit ratio, but a target of 0.9-1% and stoploss of 0.25-0.5% makes a lot of difference.
A system with 70% profitable trades and profit and SL at 1% is worse then mine as out of 70% trades 30% will cover your loss and 5% will cover your brokerages and taxes.
At last you will have 35% trades in your pocket but what about pressure and negativity that you will have?, if you have 5 loss trades in a row.
That will certainly hinder your way.
Dont go for every trade in all types of market, enter the trade for which you are best suited and which is best suited to you.
Its better if a day goes without trade rather than ending in red.
Have a habbit of cashing out your profits. Always take pay out at regular intervals.
i never hoped for being in top 10%
My daily target is to just end up in green thats why i chose to do intraday in comparison to positional. We must not trade if we think that trading is degrading our health.Everyday i woke up with a thought that today market has something good for me. I scan 200 stocks with good trading capital and trade in just 1 or 2 stocks which suits my setup. Dont indulge into a trade just that you are waiting for whole day. There are days when I dont trade at all.
Avoid tough trades means that are not matching your setup exactly.
They will make your day quite rough as constantly you ll be praying for a moment to get out of trade.
Toughs gives roughs
simples gives dimples
One last thing you must know, is whenever a trade is initiated, one is always right and one is always wrong so take trade when you are close to 100% right and get out the moment when it favors other.
Below are images of friday's trades, to explain what i wanna say




As per my style, I am always quick to get out. Define your own style and simply follow it
Happy trading.

Thanks for such a detail reply

All have stated this again and again... but it is worth one more repetition:

A system is good only as long as it is followed religiously. The moment you mentally decide to bypass your own system - you are priming yourself for failure.

Control your emotions, follow the rules you have set - else join the army and come back later for trading

hi,
we have to remove emotion,feelings, fearless, greediness and continue to do right thing then we r successful.follow one indicator and try to understand it.
then sucessfull.:thumb:

I think luck play a very imp role in market. My entry is right but most of the time major movement comes when I exit stock. If I do not exit the stock, rarely stock shows any movement
Does it happen with anybody else and any way to avoid ?
Nowdays I am following SH315 stratagy for exit but wipsaw is eating away my profit...

Buddy.. it happens coz we loose patience or start doubting our initial entry. If your entry is based on a predefined method, u shudnt get out just coz market is not moving. The goal should be either exit as per the rule or take the SL. Its said exits are more difficult than entries and it because our minds play games...whether to exit or wait or book half etc etc. That is why exits must be defined before entering the trade. If you do so, you will see that you are lucky most of the time

hi
Frnds..
So first outcome and main thing is discipline in trading.. strictly follow your system...
one more doubt i want to share with u ..have u wait for max profit u earn from your system or take fix target??? because sometime we go in loss from good profit because our system not say for exit...
thanks for your reply....
Navin

You can use any one of exit if its given good results in your backtests....my intraday trades are sticking to my SL as I trade only 1 lot in Nifty