Consistent Performance

Hello All

I am brand new entrant into this forum ... but not new to TA ...

Have been doing TA based trading for few years now and the experience gained has helped me in understanding the foundation of TA & how to make consistent profits in all market conditions.

I would like to share them over this nice portal & hope people benefit out of the same

Happy Trading...

TTC

hello to all ,
I have been visiting this forum for quite some time now but this is my first post here. I have been trading on and off for last 6 years and now i am trying to take it up as a full time occupation.. i have lacked consistency in my trading so far.........best i have done is made my money seven times in 3 months and worst i have done is lose it all in a month.
As i have read through hundreds of threads on this forum i have to the conclusion that some of the senior members are really very knowledgeable and experienced.Through my first post i want to say thank you to all seniors for sharing their trading thoughts,ideas and experiences .You guys really inspire me a lot.

Happy Trading,
Manish9300

Dear Manish

Good to know that you are planning to take it fulltime ... remember few important things before taking the plunge

1. Keep a contingent plan atleast for 12-15months ... meaning, calculate your expenses and keep enough liquidity to serve you for 12-15months. This will take the pressure off from your trading

2. Depending on your strategy, try to be slow & rocksteady. Dont rush into things

3. V IMP: Take trading as business and not as a tool to become millionaire overnight ...

4. Follow money mgmt & strategy with highest discipline.

All the best

hi there,
thanks for sound advice . All the points you mention are very valid . i have exclusively traded options so far ( intraday and position trading ). i am taking up intraday trading as full time profession as i feel comfortable when i am not holding positions overnight.The overnight gaps happening these days in nifty makes me very uncomfortable as i like to trade with tight stop losses.I was wavering over whether to trade futures or options and finally decided to trade futures only.

manish9300

In INTRADAY remember to keep tight SL and go for a strategy with higher success ratio ... all other things will fall in place ...

GOOD LUCK

i guess 'understanding the foundation of TA' is a code word for price action but i dont get the other part specifially 'consistent profits in all market conditions.' how do u make money in all market conditions? i think there are times when one should 'take a break from trading'.

Good Question ... But somehow I dont believe in taking a break ... I always feel there is plenty of opportunity in all market condition. The reason for not taking a break is

1. I dont really have a method to know when?
2. What if I take a break and market trends...

Breaks are for those people who cant take losses in their strides IMO ... I am OK with taking losses. :thumb:

i agree with you on keeping tight stop losses.i don't have a strategy with higher success ratio.The strategy i am going to use seems good on paper but u know real trading is very different from paper trading. Only time will tell if its a good one and that's y i will test waters by trading mininifty.



ok i just read your other thread.i think taking a break is more important in position trading as there are times when market trades in a small narrow range .i know i am speaking from the perspective of an option trader here.lol.I guess for futures trading it is different and i don't have any relevant experience.

Breaks are for those people who cant take losses in their strides IMO ... I am OK with taking losses.

I agree fully .......my on and off trading has more to do with 'blowing up my capital 'or 'deep losses' which r difficult to recover soon enough so that motivation for trading was not there.Taking break does have its side effects on me.Last time i took 'deep losses' my entire loss was equal to the brokerage charged by my broker.:O.i was not trading well but still trading wise i was at breakeven.I think i was way over 'Overtrading' .

hi .. whats your target return for this annum

i will try to double my money in 6 months.....which is 15% per month approx.But whats more important is that i will try to stick to max loss of 10% per month.Is it too outrageous?