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| Discuss Paper v/s Real at the Trading Psychology within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by kuriako oops.... lost!!! all the profit and 5% of capital in a ... |
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| Trading Psychology Discuss the psychological aspects of trading such as fear, greed and discipline. |
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#21
6th November 2007, 03:54 PM
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Re: Paper v/s Real
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Costly yes, but not a good lesson to learn. May be it turned this time, and maybe it would just not do so next time ... Stops are to be honoured, not streched ... I read/heard some place Quote:
 , Thanks nb 
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#22
6th November 2007, 05:20 PM
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Re: Paper v/s Real
I agree with you newbee...
But the planning of stoploss was what failed! Not the idea of stoploss  Reasons for failure:- Didnt plan for todays trade Didnt go through the usual charts Didnt consult higher timeframe charts Didnt do anything and was just before the system with no sleep and food!!! Literally squared the position due to frustration!!! Hadn't took breakfast of lunch!  Poor brain made all the mistake!!! And learned the costly lesson- Plan properly! Else I will make you fail in my paper!!! Respecting stops...But the point where stops need to be placed need to be calculated clearly! Infact just had some positions in ONGC at 1321 Sold first part of it at 1327! Noted a downward channel! Made some quick bucks by catching the small 4-5 rupee movements! Suddenly a look at positions!!! Had some for waiting!!! Looked at time... Oh God it is 2.30!!! You just have only one more hour!!! Emotional push for taking lunch!!! Mixed emotions ignited by a quick move to 1290... Stoploss point was marked 1288! But poor eyes made it that stoploss breached!!! So all these emotions caused for a fast exit... The chart still showed a reversal to 1308!!! Who cared!!! And finally the loss!
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#23
6th November 2007, 05:27 PM
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Re: Paper v/s Real
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May be one more rule for your trading plan, Never Trade when hungry or sleepy... Thanks nb
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#24
12th November 2007, 03:20 PM
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Re: Paper v/s Real
Today sold MAHABANK!
Had got in at 60 two weeks ago! Sold at 70! Reason:- To check whether the broker had finally reduced my brokerage to the agreed level!!! Noted an upward channel. And price reaching the upward line! So naturally a sale! But "think/hope" it can make a little more up move! And chart doesn't say so to me!  Anyway just to check brokerage!!! And to "book" some profit!!!
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#25
12th November 2007, 08:26 PM
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Re: Paper v/s Real
Kuriako,
Just a few doubts. What is your trading timeframe? What is your favourite trading style? I mean pattern trade or trading on the basis of support/resistance, breakout trade, some exotic system based trades, indicator based trading etc. etc. If you find these questions too personal, kindly ignore this post. I do not mind. If you answer them, I may have some points or better still here there are several veterans who will give very honest and helpful answers, which I certainly hope will go a long way in improving your trading style or method. Thanks and regards R. S. Iyer Side Note: - Yesterday, I was in Ernakulam. I am visiting that city for the first time in my life. Person who was with me showed a construction site to me just one K. M. away from Marine Drive (across newly built bridges - I think three new bridges - this place is quite opposite to Fort Kochi or Wellington Island) and told me that it is the site of Petronet LNG where their terminal is coming up. Is that correct? I could not see any name board there. My goodness. What a site. Locationally and commercially situated at the most advantageous place and at the most beautiful site. If that is true, Petronet LNG is sitting upon a goldmine. What could be the value of this landbank? Last edited by RSI : 12th November 2007 at 09:28 PM.
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#26
12th November 2007, 09:19 PM
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Re: Paper v/s Real
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I trade on intraday for some excitement and learning! Actually I plan to develop as a swing trader for a period of 10-15 years from now(u know lame job period  )! After that I wish for becoming a full time trader! Currently I do intraday for some learning! And also a little bit of position trades! For intraday I use Indicators! The two indicators that I use are developed by me! One tries to understand trend and the other tries to understand the strength of trend(atleast I wanted them to do so  )Mainly use 1 minute charts. Seek confirmation from 3,5 minutes charts For position trades I try to use all the ideas- Patterns, above mentioned indicators, support levels, trendlines and everything I can use! I select stocks for position based on indicator. I analyse them for patterns, channels, trendlines etc. Using EOD only for swing trades. Currently I am too (way too) undercapitalised. But I am doing it for some excitment and learning. Even selling a scrip @70, which I brought for 60 didnt give me the "labour charge". Frankly my profit from that trade is below Rs.50 But I consider it as a learning opportunity, rather than just waiting for my date of joining the lame job! Thank you for your question and offer for help! PS:-I am attaching a chart for your reference!
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#28
12th November 2007, 09:48 PM
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Re: Paper v/s Real
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I hope this helps. I am also awaiting valuable comments from other experienced traders. Regards R. S. Iyer
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#29
14th November 2007, 11:35 AM
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Re: Paper v/s Real
Nerve wrecking intraday!
And sweet position trades!!! Though not making much, the position trades seems to work for me... But cant leave the "emotional" lessons that intraday will teach me!!! Will play on it till the hill completely erodes to form valley... Both emotionally and financially
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#30
15th November 2007, 10:55 PM
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Re: Paper v/s Real
Sold ALBK and HINDPETRO!!!
But not at the peak... Rather at low levels!!! Now just hatching 3 more HUL,Hexaware,ANDRABANK.... HUL for february... Hexaware for december... Andrabank for tomorrow! Hunting fresh positions started! But unable to find some! Seems like every sector having some weakness with in!!! Are they appearing weak or are they really weak!!! Going more deep...For some corals!
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