Trading for a Living

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Trading Psychology Discuss the psychological aspects of trading such as fear, greed and discipline.


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  #1  
Old 1st November 2006, 07:20 PM
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supertrader3333 is on a distinguished road
Default Trading for a Living



My humble views......


Trading for a living requires a lot of discipline. It also requires a lot of streets smart if you trade discretionarily. One thing that many beginners missed is a basic concept of having multiple setups learned and practiced correctly.

Many beginners misunderstand that they can master a single setup and then can trade for a living. That is not likely the case. For each specific setup, you need to spend time to understand its reasoning behind, learn the chart pattern available in historical charts, and then practice in real-time or at least using simulation so that you know how to handle the setup in all possible situations.

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  #2  
Old 13th December 2006, 11:42 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by supertrader3333 View Post
Many beginners misunderstand that they can master a single setup and then can trade for a living. That is not likely the case.
Wrong


CV

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  #3  
Old 13th December 2006, 11:46 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by CreditViolet View Post
Wrong


CV
meaning what ... is he rigiht , or is he wrong?

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  #4  
Old 13th December 2006, 11:53 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by Agilent View Post
meaning what ... is he rigiht , or is he wrong?
Wrong ofcourse. One can trade a single setup and make consistent money.Actually thats the best way to trade if your setup occurs frequently and you are disciplined about taking them.


CV

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  #5  
Old 14th December 2006, 11:34 AM
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amarnath is on a distinguished road
Default Re: Trading for a Living

Quote:
Originally Posted by CreditViolet View Post
Wrong ofcourse. One can trade a single setup and make consistent money.Actually thats the best way to trade if your setup occurs frequently and you are disciplined about taking them.


CV

yes true and mastering a core concept is a key to make money in speculation consistently.

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  #6  
Old 14th December 2006, 01:13 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by amarnath View Post
yes true and mastering a core concept is a key to make money in speculation consistently.
Totally Agree.

Also its necessary that the 'core concept' is as close to market reality as possible i.e price, volume, trend, sentiment etc.


CV

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  #7  
Old 19th January 2007, 08:16 AM
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Default Re: Trading for a Living

sorry..i am commenting ...
core concept is itself lot of amalgumation of lots of idea...
in which one suitably choose the structure by which he[believes]shall win
min requirement...
1]investment experience...2yr
2] gambling experience... 6month
3] trading experience.. 1yr
4]role of observer ... 2yr
5] amalgaming mentally[betterif written ]...6month

YES NOW U R READY..
depending upon your success/ failure..natural inclination
your base/ core belief/self mastery..

must know @which condition you succeed[u r better than others]
@ where u shall suppossed to fail
@ how much uncertainity u can tackle


oilman5

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  #8  
Old 23rd May 2007, 04:55 AM
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Saint will become famous soon enough
Default Re: Trading for a Living

Quote:
Originally Posted by CreditViolet View Post
Wrong ofcourse. One can trade a single setup and make consistent money.Actually thats the best way to trade if your setup occurs frequently and you are disciplined about taking them.


CV
The statement above is bang on CV wisdom as always..............great wisdom in those lines.One can trade a single setup again and again and all over again,day after day,shamelessly pulling money out of the markets.Once again,we are back to that all important word: Discipline

Great stuff,CV/Amarnath

Saint

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  #9  
Old 23rd May 2007, 09:40 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by oilman5 View Post
core concept is itself lot of amalgumation of lots of idea...
True.

Regards,
Kalyan.

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  #10  
Old 23rd May 2007, 09:42 PM
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Default Re: Trading for a Living

Quote:
Originally Posted by CreditViolet View Post
... Also its necessary that the 'core concept' is as close to market reality as possible i.e price, volume, trend, sentiment etc.
Very true.

Regards,
Kalyan.

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