Discussion on kolkata meet signal

wht system r u talking abt...i meant a " TRADING SYSTEM".he is talking abt a bunch of indicators..

U mean u want to have the system he (prakash) has supposedly traded to give 88% win by asking a link from me??? The profitable traders here have started this service of giving away the winning systems of them to the public by web links?

u were talking abt systems..who cares to know abt a bunch of indicators.he may have got 100% wins. also then its not very exciting & interesting to know abt only the indicators.

First of all by "method" I did not mean your trading secret( I meant daytrading/positional bla bla bla) ... Though I do not have any issues at all if you provide your trading secret
Oh but You mentioned you do not have that intention

Yes you have definately got a point that mechanical system can save lot of our time, energy, human biasing(as it can't be COMPLETELY avoided)... But Sir, the problem is that, how can one develop a mechanical system... As you mentioned knowing maths and computer skills... but what if a person (say me, do not have that much skill with these subjects)... what should I do in this case...

Sir, one more question... what is data mining? Please explain as I do not have idea abt it....

And yes the system like.... proper enty,exit, position sizing... is something should be the bare minimal... I completely agree to this...

Now the average part...
You have made a grt point out of it that a complete trader can only think abt avg... and if a person knows to make 15 pts, then he/she even knows to make more....

Now I have a question on this, please provide me with your opinion on this..
As you mentioned that 15pts a day... tats like 15k/month... What I want to know is that... say a person has a set target(minimum) of getting 15 pts a day... and on the 1st trade itself he/she manages to get 15pts or even a bit more... then should the person stop trading for the day? Be happy with it ... or wht should be the strategy then?

And one more question... as you have also mentioned in some other thread... that one keeps a SL of say 20 pts or whtever as per the commfort level(and quiet possible that is not a logical SL, just a Rupee Sl)....
So my question is that in day trading is it quite obvious to have a Rupee SL placed more often than a logical SL and take the trade?.... also a NF trade say gives 10 to 15 pts profit per trade(and even sometimes less or Brk Even)... with a Rupee SL or logical SL which would be more than the profits.... So the RR ratio is not favourable here... is this the way day trading works??? Or am I making some error in it? Please throw some light of your expereince!

You have really got a smile on my face when I read a complete trader can earn in 7 digit per MONTH... though I know complete trader not me(but I desire to earn rgt!!!).... Who would not want to be one? But who will be The One?

Regards

U r right ....but my dear friend,who will care to give u away a winning profitable system? It needs loooots of hard work most of the time to build a profitable winning system.Why should the builder give it to the public for free?And if ne system which is freely available doesn't lose it's edge,then it's the eighth wonder of the world.

OMG....big questionnaire.
Can answer in the coming days.Please bear with me friend! Meanwhile I request Sanjay(SGM),Oxus,BAV,Kalyan,Saint, Asishda (after returning from Vellore) and Savant to answer these beautiful questions of milky.These questions if properly answered can really give a trader good direction.

P.S. I don't include Sir CV here,as I know the chance of getting his time is very less these days!

You have answered your own question.

Hari

I am talking practically... about robust trading system. I dont consider it a system if it drains even one profit with one loss. so two days wiping out a month is out of question.

& ofcourse... its very normal to have 100% winning days.

BTW
1 ] is your square up so mechanical that you can hold more than three trades at a time ?
2] Do you place stops along with position OR execute it manually to avoid a freaky trigger.
These are bit un sorted things for me.

Omkar,
1) Actually am trading in the index futures only,so only one single position(or nothing when no signal) or trade at a time for me.
2)For stops - u know very well the nature of financial markets......for NF,it can be a swift 10-12 points move in a few moments..so can't do it manually....have to place stops just after taking position mostly.

Hi Milkyblack,
May i know the difference between rupee SL and Logical SL