My Trade Journal

[VJAY]

ST sirs post about any method /system

1) If the current system is working fine, we should not try to over optimise it to avoid all whipsaws and late entries....this compromises the simplicity and robustness of the system.

2) There is no system which will have all winning trades and avoid all losing trades.

3) Any mechanical system will have its share of false trades,late starts.We need to make more when right and lose less when wrong.

4) General traders ( myself included) cannot take more than 5-6 trades in a day ...they dont want to make 150 points either .They are happy with 2-3 trades max and make 50-60 points in a day...

Considering the above I think marking support/resistance on OBV and then taking a trade in direction of the breakout should give 1-2 good trades.

5) On a bad sideways day, nothing will work ( only supertraders and God can possibly make money on such days)....so we should not insist that our method should be profitable on the worst possible days....on such days, we should mark the boundries of high and low and trade only when there is a breakout/breakdown or trade on VWAP or avoid trading in sideways price bands.

We can experiment on 1 min/15 period ,1min/10period,1min /5period etc bands to see which band gives us good supports and resistances on OBV.....I am zero in AFL.modification ,so cannot test these.

These are just a few suggestion to make the system useful for most of the traders.

 

[VJAY]

Why Are Some People Lucky?

Why Are Some People Lucky?

Why do some people get all the luck while others never get the breaks they deserve? Professor Richard Wiseman, a psychologist says he has discovered the answer.

He says…

Ten years ago, I set out to examine luck. I wanted to know why some people are always in the right place at the right time, while others consistently experienced ill fortune. I placed advertisements in national newspapers asking for people who felt consistently lucky or unlucky to contact me.

Hundreds of extraordinary men and women volunteered for my research. Over the years I interviewed them, monitored their lives and had them take part in various experiments.

I carried out a simple experiment to discover whether their disparity in luck was due to differences in their ability to spot opportunities. I gave both lucky and unlucky people a newspaper, and asked them to look through it and tell me how many photographs were inside. I had secretly placed a large message halfway through the newspaper saying…

“Tell the experimenter you have seen this and win $50.”

This message took up half of the page and was written in type that was more than two inches high. It was staring everyone straight in the face, but the unlucky people tended to miss it and the lucky people tended to spot it.

Unlucky people are generally more tense than lucky people, and this anxiety disrupts their ability to notice the unexpected. As a result, they miss opportunities because they are too focused on looking for something else. They go to gatherings intent on finding their perfect partner and miss opportunities to make good friends. They look through newspapers determined to find certain types of job advertisements and miss other types of jobs.

Lucky people are more relaxed and open, and therefore see what is there rather than just what they are looking for. My research eventually revealed that lucky people generate good fortune via four principles. They are skilled at creating and noticing chance opportunities, make lucky decisions by listening to their intuition, create self-fulfilling prophesies via positive expectations, and adopt a resilient, “never say die” attitude that transforms bad luck into good.

inspirational story, stories, moral,morals,happiness,respect,trust,loyalty,self,peaceSo here are four tips for becoming lucky:

1) Listen to your gut instincts – they are often right

2) Be open to new experiences and breaking your normal routine

3) Spend a few moments each day remembering things that went well

4) Visualize yourself being lucky before an important meeting or phone call.

Remember that the happiest people in the world are not those who have no problems, but those who learn to enjoy things that are less than perfect.

~ Professor Richard Wiseman, University of Hertfordshire

 

[VJAY]

"Discipline is the bridge between goals and accomplishment."

 

[VJAY]

You can always come up with reasons to enter a trade. But only if you can find repeatable trades based on specific rules, you should trade

 

[VJAY]

Goal is not to make money.

Money is byproduct of good decisions, patience & discipline.

 

[VJAY]

Posts by xray

Psychology for success is Goal,Commitment, Method to achieve that goals

Goal is to gain in market ,commitment is to use a trading system which is known to you which has the MM part, just remember it is you who operate it and you should know it very well,specific conditions for entry and exit will have to be there and it should be determined by play area..once it is absent don't trade and a method which doesn't tell this is slow poison for killing self

Tons of this suicidal methods are available in market to kill our self ..

Technical analyst knows the price of every thing and value of nothing

A TA follower duty is to

-Find the right direction

-Staying in the trend

-Spotting great pullback opportunities to get back in with trend

-Knowing when the market will continue and when the market is likely to reverse

-How to find some of the more profitable moves in the market (impulsive)

-Knowing who is in control of the market

Trend trader swift points which he must always remember:

1.Trend trading is not forecasting or predicting

2.Trend Trading is reactive in nature.

3.Trend Trading demands following the market not guessing or wild emotions

4. Trend trader Avg profit per trade is significantly higher then average loss per trade

Trading discipline :

Discipline is the ability to construct a set of trading rules and to stick to those rules as unemotionally as possible .

An excellent trader should have the ability to trade the markets with a detached mindset, respecting the market as a wild beast that cannot be tamed, but one that can be beaten over the long term but setting rules and abiding by them with steadfast strength and discipline, knowing that those rules will give him an edge over the market forces.

Pulling the trigger

The ability to pull the trigger is another key discipline that must be respected. This comes down to self-confidence in the traders rules.

Methodology

A solid trading methodology is of course very important to a trader success. Work out what works for you. Every trader will have different objectives, timeframes, risk tolerances and trading setups that appeal.

This week task is to rise my self for new F.Y ..in terms of trading swiftly in OTF in intraday..rising quantity in Initial order..then at add -on

 

[VJAY]

Always remember these lines from saint sir...Re shared and once again remembered by rjshem

Please always remain students of the markets.....always remain humble.Never ever let anyone tell you that Trading Mastery is not possible.Never let anyone tell you how you cannot succeed.......Your job as a trader has and is always to put in a perfect trade,and then again and again and again.Focus on the trading,not on the money.....You can attain great wealth from Trading.You don't have to run newsletters,give tips,sell softwares,........there is more money in Trading than in any of these.Therefore,focus on Trading Perfection.......and reach heights that you imagine as unreachable.

 

[VJAY]

Nice post by Varunji.........

The words of the Gambler by Kenny Rogers "You don't count your money, when you are sitting at the table, there will be time enough to count it, when the game is done." I would like to share my experience with these words of wisdom. I have seen many people use the term 1R 2R...10R etc. Does it have any relevance to ones trades. It just inflates one ego and in fact is an impediment to growth. It is akin to having a mental barrier. Look up any post of ST ji and you would find the saying "While amateurs go broke by taking large losses,professionals go broke by taking small profits" at the bottom. You are selling yourself short when always calculating R's because at the back of ones mind while doing so is a very safe attitude. Your trades are curtailed by always looking up this number. So you get satisfied by such nos. as 1R 2R... instead of scoring a home run when the market gives you an opportunity. Case in point is, how many of you were able to catch even 50% of the monster move in crude (more than a 100point) after 9:00 today. I for one concede that though i was wrong in my initial bias as posted on Tuna ji's post. I Netted 15points in long followed by 70 points in short. I am not highlighting my trade, just my attitude towards a trade. Do not sell yourself short. I have often said in this thread that the market is trending only 20% of the times. Why put a cap on your winnings during such times. One should have discipline in ones trades to get out only when stopped out or coming out of the trade when the reason for being in the trade is no longer there. Once you have done the hard work of identifying the set up and initiating the trade, it should be criminal to exit without consummating.(Could not find a more appropriate word).

 

[VJAY]

this song is of a Gambler ...but fully fit to traders

https://www.youtube.com/watch?v=6X7Sx62plCw&feature=youtu.be

 

[VJAY]

shared by xray