Trading Journal based on "Teach a Person to fish ..."

newbee · #21 11th October 2007, 08:56 AM

Quote:

Originally Posted by oilman5

hari09omkar,
good to read!!
...........................................
nb, just follow uasish.......he has commented around 200 good post, himself an intraday player with mind boggling equity return .
.........................................
but follow from saint,traderji first........after 2yr if u think capable contact cv......
the best known daytrader.....with av 6digit return per week!!!!!!!

Hello oilman

Thanks for your post.

I have had an interaction with uasish sir on other thread, i already got a gem of an advice from him, will definately keep looking for more.

I am trying to learn the method SAINT has given us, If you can point out any thread or posts by Traderji that i should read it will be helpful.

As for getting help from a sucessful trader (cv) why wait for 2 years? missed you on that one, and how do I get in touch with cv?

Do you mean i need to learn a lot before can be tought by a master, maybe can use another of those chineese saying here ..

"The Teacher Appears, only when the Student is Ready"

I have been getting guidance and advice from family/friends and have been made aware that trading is one of the toughest professions.

The time and effort i have to spend is not an issue for me. What I would be interested to know is when/how do we realize if we are cut out to make it or not ?

How to guage if one has the aptitude, IQ, EQ, SQ or whatever it takes to make it.

Or its just that try and see if it works out for you?

I already got a few wise cracks on these questions like "your bank account will tell you" or "when the time is right, you will know".

Anyway wouldn't mind to hear a few more

, as they say the best is yet to come.

On a serious note, it would nice if you and the people you mention like SAINT, uasish, traderji, cv and other knowledgable boarders can help me out with this one.

Thanks
nb

hari09omkar · #22 11th October 2007, 12:19 PM

Quote:

Originally Posted by newbee

What about other things like apptitude, skills ?

If you don't mind, how many months/years you are at it?

Not much older than you in this field nb,only the second year running for me.
Aptitude and skills.....Well I tell you trading is a job which can be done by a dumb also.The only thing which you should be carrying in you,is a "query" or thurst to know,to invent.
nb,no successful professional will tell you in detail what is his/her trading style,why this or that trade was taken.
Why? Bcz trading is a competition,something similar to war.
Never expect that any book or any person will tell you the processes of execution.If somebody or some book tells that he or the book has something magical which will tell a perfect system,distrust them at the first place.
But still you will find some helpful people here,like uasish,saint....who will show you how they have executed a trade,but the method behind that? You have to find it out yourself,which is not very difficult,I can tell you.
Your searching for help reminds me my own journey,where there was none to help in the begining.But GOD was graceful to make a way.
Skill and aptitude are useful untill you make a system....after that, following the system at the time of execution is necessary.No more aptitude there.
Another thing.Don't get misguided.Bcz most people are failures here.CreditViolet says 99.9% of people don't know to trade on their own.
So pay heed to oilman's advice and ask to the experts here.CreditViolet,uasish,Saint,Vince,beginner_av, sudhir gupta and many more whom I don't know or now forgetting to mention.Read their posts again n again.You will find a way dear.
Best of luck.

newbee · #23 11th October 2007, 03:27 PM

Hello

Today's Charts.

Thanks
nb

newbee · #24 11th October 2007, 04:18 PM

Hello

I had to incorporate a new rules, based on advice and feedback.

Not to be too hasty to trade in the the opening session, i.e. before 10.20-30
Based on this rule i did not take the first 2 tardes marked with light circles on the chart 1, attached in the previous post.

Letting go of those 2 winners made me take the next trade, maybe technically correct but too close to current High of the day.

Long 1 lot @ 5470

As soon as took the trade started doubting it, so was ready to bail out as soon as price reversed. Also logged in a short

Square off Long @ 5468
Short 1 lot @ 5468

Current high was 5488, so would place a SL @ 5490

As usual the price reversed as soon as i shorted, but stalled before HoD and took an additional short around same place

Short 1 lot @ 5465 (same level on spot, but got 3 points less on futures)

For this trade decided to put in a traget of 5440 and trail the first one, both SL same 5490.

Took around 2 hours to get the price of 5440, as the price moved down and reversed (at the level of previous bottom) decided to square.

Covered short @ 5440, and 5442

Here i noticed one thing the difference in spot and future was increasing, is it a sign of bullishness??

Just after 1:15 got a buy around 5447-48, but had to buy @ 5465, as the difference (learned its called premium/discount) was ranging between 15-20

That was the last trade of the day, missed 2 more opportunites to add to the long position (marked on chart 2) as was facinated by this premium/discount thing and was trying to understand it.

Closed out around 3:15 (time stop, again a new concept for me) 5521

All good trades except for the first emotional (missed the bus) trade.

Will try to post another message with lessons learned and some updated rules.

Thanks
nb

PS: maybe beginners luck showing up, 2 days late

SavantGarde · #25 11th October 2007, 04:43 PM

NB,

If You Can Possibly Give Me YOur Email Addresss, I Would Like To Send You An Excel Trading Organizer Devised By Me Which Has Various Tabs, Starting With The Following:

1) Trades

2) Strategy Tracking

3) Monthly Performance

4) Statistics

5) Pre-Trade Sheet (basically working Out Entry patterns)

6) Expectancy Formulator

7) Lot Size (Means Position Sizing)

8) Demon Finder (Where You Will Know Exactly Where You Are Going Wrong & The Demons Can Be Killed After Taking A Trade 4 Times In A Row Without Committing A Specific Sin, Learn From Your Errors. It Is The Only Way To Achieve Success. Your Future Profitability Is Covered Up By Your Past Demons)

9) Drawdown

You Are Welcome To Change The Tab Names.

Moreover it I Am Making Some Changes In The Organizer & Will Take A Couple Of Days To Send It To You.

For All Those Wondering Why I Have Not Attached It Here, Simply Because It Exceeds The Permitted File Size At Traderji

You Are Welcome To Share It With All Those Who You Think It Will Help.

Only Other Request Is Do Not Charge Anything For It.

Knowledge & Tools For Learning Should Always Be Free.

SavantGarde

Quote:

Originally Posted by newbee

Thanks for the answer, i liked point 4, as i already done 2 days worth trading.

I will need time to go through it and try to absorb it, made a copy and archived it, once again thanks for sharing.

I had to convert the caps to be able to read it.

What about other things like apptitude, skills ?

If you don't mind, how many months/years you are at it?

Thanks
nb

hari09omkar · #26 11th October 2007, 04:53 PM

Quote:

Originally Posted by SavantGarde

NB,

If You Can Possibly Give Me YOur Email Addresss, I Would Like To Send You An Excel Trading Organizer Devised By Me Which Has Various Tabs, Starting With The Following:

1) Trades

2) Strategy Tracking

3) Monthly Performance

4) Statistics

5) Pre-Trade Sheet (basically working Out Entry patterns)

6) Expectancy Formulator

7) Lot Size (Means Position Sizing)

8) Demon Finder (Where You Will Know Exactly Where You Are Going Wrong & The Demons Can Be Killed After Taking A Trade 4 Times In A Row Without Committing A Specific Sin, Learn From Your Errors. It Is The Only Way To Achieve Success. Your Future Profitability Is Covered Up By Your Past Demons)

9) Drawdown

You Are Welcome To Change The Tab Names.

Moreover it I Am Making Some Changes In The Organizer & Will Take A Couple Of Days To Send It To You.

For All Those Wondering Why I Have Not Attached It Here, Simply Because It Exceeds The Permitted File Size At Traderji

You Are Welcome To Share It With All Those Who You Think It Will Help.

Only Other Request Is Do Not Charge Anything For It.

Knowledge & Tools For Learning Should Always Be Free.

SavantGarde

You are lucky nb. A real trader,one of the best in our forum,has extended his hand of help to you,of his own! Grab this opportunity now.

newbee · #27 11th October 2007, 05:25 PM

Quote:

Originally Posted by SavantGarde

NB,

If You Can Possibly Give Me YOur Email Addresss, I Would Like To Send You An Excel Trading Organizer Devised By Me Which Has Various Tabs, Starting With The Following:

1) Trades

2) Strategy Tracking

3) Monthly Performance

4) Statistics

5) Pre-Trade Sheet (basically working Out Entry patterns)

6) Expectancy Formulator

7) Lot Size (Means Position Sizing)

8) Demon Finder (Where You Will Know Exactly Where You Are Going Wrong & The Demons Can Be Killed After Taking A Trade 4 Times In A Row Without Committing A Specific Sin, Learn From Your Errors. It Is The Only Way To Achieve Success. Your Future Profitability Is Covered Up By Your Past Demons)

9) Drawdown

You Are Welcome To Change The Tab Names.

Moreover it I Am Making Some Changes In The Organizer & Will Take A Couple Of Days To Send It To You.

For All Those Wondering Why I Have Not Attached It Here, Simply Because It Exceeds The Permitted File Size At Traderji

You Are Welcome To Share It With All Those Who You Think It Will Help.

Only Other Request Is Do Not Charge Anything For It.

Knowledge & Tools For Learning Should Always Be Free.

SavantGarde

Hello SavantGarde

Thanks a lot for your help.

You can mail me at *****.com my id is ntrader24.

I liked when you say "Knowledge & Tools For Learning Should Always Be Free."

Wish more ppl think like that.

btw: regarding charging others for the excel program, i don't think anybody will want to pay me for anything knowing my current knowledge level

I am following your thread on nifty, don't understand much about how to use those levels, but guess will learn with time.

Thanks
nb

newbee · #28 11th October 2007, 05:38 PM

Quote:

Originally Posted by hari09omkar

You are lucky nb. A real trader, one of the best in our forum, has extended his hand of help to you, of his own! Grab this opportunity now.

Hello

You know what hariom, i consider myself more than lucky. I was not expecting the response i got from many senior and experienced traders at this site and also from other people I have been interacting with.

I will definitely accept all the help extended to me.

As you pointed in your post the best form of training could have been an apprenticeship with an experienced trader (qualification being must have made mills, as you posted in u r msg).

But since that is not available to me, this could be next best thing.

I am aware that I have chosen to follow the method given out by SAINT as it was available and I could actually understand it. May be I am not competent or have enough knowledge to make that choice.

Now that I have made a commitment I have to make sure I stay the course till such time I learn the method and feel I am ready or need to add other things.

Drifting from one method to other may not be the wise choice.

Hope I continue getting guidance from all members here.

Thanks

SavantGarde · #29 11th October 2007, 06:08 PM

Dear Hari,

Considering Nobody Really Knows What My Trades Are Like, Thank You For Your Very Favourable Kind Words.
My Offer Of The Organizer Is Open For All Interested & It is Not Time Bound.

Warm Regards

SavantGarde

Quote:

Originally Posted by hari09omkar

You are lucky nb. A real trader,one of the best in our forum,has extended his hand of help to you,of his own! Grab this opportunity now.

hari09omkar · #30 11th October 2007, 06:26 PM

Quote:

Originally Posted by SavantGarde

[color="Purple"]Dear Hari,

Considering Nobody Really Knows What My Trades Are Like, Thank You For Your Very Favourable Kind Words.

Well,except for generous and courageous uasishji,we probably don't know any other's trades who are living from their trading,regularly.But that doesn't stop us from making opinion,specially after your dedicated threads and wise writings.Sir,A dumb trader can't be there behind all these excellence,right?