Stopped Trading for the month

beginner_av · #1 7th February 2007, 12:11 PM

Due to my fat fingers..made a loss that exceeded my limit...so stpped trading for this month.

the lesson other than money management is that u have to be mentally fit to trade. cant trade when u r tired.

wish india had OTA and OCA orders..

how do u deal with fat fingers? do u have any rules/methods? I tried writing every order b4 placing them. takes too much time resulting in slippage.

ur comments are welcome.

thx

Agilent · #2 7th February 2007, 12:56 PM

Quote:

Originally Posted by beginner_av

Due to my fat fingers..made a loss that exceeded my limit...so stpped trading for this month.

the lesson other than money management is that u have to be mentally fit to trade. cant trade when u r tired.

wish india had OTA and OCA orders..

how do u deal with fat fingers? do u have any rules/methods? I tried writing every order b4 placing them. takes too much time resulting in slippage.

ur comments are welcome.

thx

Good u took a break

Try short/medium term investing for a change

Or look to some experts on this forum who make 100 % every mth, mth after mth in daytrading. But alas ..they may not share their secrets, for fear that their profits may get pared somehow

AGILENT

beginner_av · #3 7th February 2007, 01:40 PM

Dear Agilent,

I dont know what to say to your point. what i have done is the elders rule in money management. i have my capital spread into medium term, monthly trades and v v short term (10 mins to 2 days). i have been trading options quite successfully (i cant use stronger words as trading success may be transient), but i am here to learn. i cannot deride anyone including the other gentleman that u have pointed to, particularly if his profile reads like this:

**************************
I have been trading for four years now.My style is a mix of systematic and discretionary trading. I run 8 automated systems during the trading day of which 5 of them are used for discretionary input.I trade futures only.I was working for a private equity fund last year but quit because of the restrictive style of trading.Now I am back on my own ( and hence time to post at traderji).I advice couple of fund managers with technical input and few investors whenever I get time.
**************************

I know very well that nobody will share their systems...will u tell me how u pick up your stocks for medium term? u may just say "i look at fundamentals"...will u see whether its P/B is greater than X, cash flow is growing > y% etc? even if u do, not many people will, for their own reasons.

but all the tit bits being thrown here and there helps a lot.

whenever i have asked any specific question right from dual monitor set up to data services, i have got some of the best answers from this gentleman. in a recent post he just said about breakout systems with only a few terms like HOR and HOD etc...but that was enough to start me in testing systems....
i wud like to get pointers from all people here...irrespective of what they have said or not said in other threads.

your comments and suggestions without refering to othrs are also welcome.

hope that clarifies.

CreditViolet · #4 7th February 2007, 03:44 PM

Quote:

Originally Posted by Agilent

Or look to some experts on this forum who make 100 % every mth, mth after mth in daytrading. But alas ..they may not share their secrets, for fear that their profits may get pared somehow

AGILENT

There are no secrets in trading but you would have known that if you actually trade. Some of these posts are getting ridiculous, I mean if anyone here who has failed to immediately turn over one of their profitable strategies (read: pile of free money) to total strangers are condemned as being selfish, paranoid and/or lying. Is this how it works in the real world?

Confused CV

ratan jain · #5 7th February 2007, 03:57 PM

cv: u may give all ur systems for free to anybody, still its anybodys guess how many will actually make money with them.

CreditViolet · #6 7th February 2007, 04:02 PM

Quote:

Originally Posted by beginner_av

Due to my fat fingers..made a loss that exceeded my limit...so stpped trading for this month.

the lesson other than money management is that u have to be mentally fit to trade. cant trade when u r tired.

wish india had OTA and OCA orders..

how do u deal with fat fingers? do u have any rules/methods? I tried writing every order b4 placing them. takes too much time resulting in slippage.

ur comments are welcome.

thx

Thats a very professional things to do. Typical responses to losing money from amateurs is to size up and make up for the losses etc which ofcourse never works.

I have been myself struggling with a good Order Entry Platforms. Once you have traded with those DOM style platforms for International markets, the punch in order entry really sucks.

I have my trading plan mapped out mostly before the market opens so Fat Fingers arent really an issue.Important thing is not to chase the market because it never ends well. If you are a breakout trader as you said you are, I can see your point here. Another trick is to execute your signals on a lower timeframe than your signal timeframe.

Trading is definitely about flawless ( not perfect ) execution, last bastion of any trader

Hope that helps
CV

CreditViolet · #7 7th February 2007, 04:07 PM

Quote:

Originally Posted by ratan jain

cv: u may give all ur systems for free to anybody, still its anybodys guess how many will actually make money with them.

Hi Ratan

Long time dude

About my systems, I dont leave anything to chance

. If there is any room for 'ifs' and 'buts' its not a system, its a catastrophe.

CV

beginner_av · #8 7th February 2007, 04:33 PM

dear cv,
thx for ur response....i wanted to draw others attention to what to do to tackle losses, instead the thread went somewhere else...when i meant i stopped trading, it meant exactly that....(confusing statement).
as i had posted in ur full time traders thread, i am not breakout trader but an options trader or rather a strategist. whatever i do, i keep trading options day in and day out. that i never stop as the system is in place.
i have been experimenting with breakouts and other stuff recently, and VERY NATURALLY got some kicks...inevitable isn't it? big boy wanted to strike it out directly at the market without systems and testing. market put me right back...

the only secret to trading is having an edge...that can be found only by studying and optimizing and testing...

and as per ratan's statement...i dont agree that systems cannot be duplicated...then turtles would never be born..

pity that you dont mentor anyone...

is ur PM disabled?

CreditViolet · #9 7th February 2007, 04:43 PM

hi b_av

PM got disabled automatically, its back on now.

And dont worry about it, things go wrong in trading every now and then. I dont know about mentoring, but if you need help or assistance of any sort just let me know.

Regards
CV

Saint · #10 7th February 2007, 04:57 PM

Quote:

Originally Posted by CreditViolet

There are no secrets in trading but you would have known that if you actually trade. Some of these posts are getting ridiculous, I mean if anyone here who has failed to immediately turn over one of their profitable strategies (read: pile of free money) to total strangers are condemned as being selfish, paranoid and/or lying. Is this how it works in the real world?

Confused CV

You are none of the above,my friend........we have all gained tonnes from your vast experience and knowledge.Looking fwd to your posts as always.

Saint

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