trading emotions

#1
hi friends ,
2 yrs back i started trading with ncdex and mcx , get flused out
afterwards roaming from one forum to another , one method to another in a slient way , recently have learn some pivots trading method shared by a friend ,
so starting trading with it , recently opened a account in zerodha and for data purpose a gfdl feed with a amibroker .

purpose of this thread is to analyze my trade with my emotional feelings , so as to check and improve it in future .

so started with funding my account with 71k , with trading script only nifty futures ,and with only 1 lot . intial plan is to start with 1 lot after 15k profit will add 1 more and after every 25k profit will add 1 more . and for every 25k decline in equity i will decrease my lot size by 1.

once this 71k is flushed , i will quit trading .
not in hurry for any thing ,nothing to prove anything .
aim is to earn atleast 7k per month in starting with preservation of capital .
 
#2
have paper trade many methods , looking all great in paper mode
but when we try in rt we failed , why this happen ?
we have a good system , good method , good setup's but we failed why ?

just because of unable to handling our emotions with every uptick and downtick on screen .
lack of disclipine to stay on plan , fear of getting stopped out , fear of getting loss , greed in winning times etc .

we have to plan our game , we have to construct our rules , we have to write clear rules , action plan for the day on paper , possible turning points on paper . and most important stay on the plan untill we get stooped out . also have to follow the market not to predict what will happen , just do what market say not what u are saying to market .
 
#3
my initial method :
trading tf : 5m , reference tf : 15m and for any doubt use tf :hourly .

indi used : a atr based stop with a ma for clarity .

use mph/mpl of 5m for trading and of 15m for reference point .
initial sl is either recent mpl/mph or 10 point whichever is low .

mark all important turning points and if price action around them scronize with ma and atr stop than take trade .

from tommorow will start posting my trades/charts/m2m with emotional feelings to see whether i can handle it or not , as any body can get method but able to stay calm during trade is more important imo.
 
#5
Dear SDL,
Be optimistic and hope that things will turn out better this time. All the very Best !
that is why , i am starting with 1 lot and with initial funding 71k , once i became profitable , i will fund more .

as dudh ka jala chach ko bhi phuk phuk kar pita hay ..:thumb::thumb:

main thing is want to disclipined towards method and towards myself , as all looks good on paper but real test is when we trade rt .
 
#6
http://s27.postimg.org/982cmyic3/screenshot_352.png
http://s27.postimg.org/507ke7gwj/screenshot_353.png

in daily , we are in uptrend and attempting for a correction to form a higher swing low ,
around 7500 area we can see a intra support ,
lower tf are in likely visual downtrend .

my action plan , will trade with lower tf trend (short side with tight sl and quick profit booking at lvls )and am cautious on main trend changer lvls , and will more aggressive when visual trend in lower tf will up , will stay long and relaxed there.
 
#7
my emotional plan for today :
in weakly tf i am seeing a bearish candlestick inverted hammer/shooting star type .
so for me below friday low , short bias .
will look at 7512-7498 zone for any bdf , if it is there will take there trade above any pivot high there , another important lvls for bdf are 7438 , 7385 .
15m and 5m tf are in short mode currently .
long only when there is bdf around lvls or if price makes a higher high and higher low pattern than long above that mph else am in short mode.
i am a learner is process , senior's if anything where i am wrong plz correct me , so that i can correct myself .
 

kiran_thiru

Well-Known Member
#8
Best of luck SDL. If you get loss in first month instead of profit, don't disappoint and quit trading. We know our methods are well & good. But problem is in my mind and implementation of method.
After occur of loss in 1st month, you can't decrease lot size. Because we traded with 1 lot. So go to equity with any scrip with small qty. In practice mode you can't loose much. But it gives you confidence. After increase size big.
All the best.
 

amitrandive

Well-Known Member
#9
Best of Luck , :thumb:
Looking forward to this thread.

Just one request , please post charts from sites such as tinypic,etc where the chart is visible in the thread and the reader does not have to open another window to look at the chart.
 
#10
booked early , trade reason same , price bounce from support , a mini mph there , buy above it , first trade so some fear is there of not loosing , so book early , not stay as per plan , emotions put pressure in rt .plan is to trail but not able to do that , will try from next time .......
 

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