Brainstorming on trading topics

sumosanammain

Well-Known Member
#4
How many books have you read so far? and are you still in reading phase or have started trading and investing as well?
The words that I am about to put down are my personal experience from trading for more than 20 yeras. By trading I mean Intraday trading, not buy and hold. Please dont take offence to what I am about to say.

You cant learn to trade by reading books.
I have read almost 25 books, many of them multiple times. They cant prepare you for trading. What prepares you for trading, is trading itself.
Get an account with a broker, who does not charge too much per trade, and start trading in small qty like 2 or 5 shares. Take positions multiple times a day, Win or loose say 25 rs per day. Try different scrips, try to get feel of the market.Do this for at least 3 months.
NOW,
Sit down with a pen, pencil and lots of paper. Write down what you have observed. How does the particular scrip move. How does it react around certain levels. And a 100 moe things.
Fill pages, and if you cant write 50 full A4 pages, you have learnt notthing

After this, try tp create a trading system based on what you have learnt. Create Rules. Then trade those rules with 5 shares. For 3 months.
In these 3 months, you will learn a hell of a lot more. A lot of rules wil change.
Then start trading the changed rules with maybe 10 shares. Repeat the above process as many times as required.

Even after all this you will fel psychological issues. Like today, I mised a short on the Nifty as it was already down 125 points and I though its a futile attempt to short here. And the markets humbled me
 
#5
Thank you for sharing the information @sumosanammain I completely agree with you that reading alone will bring nothing to the plate. It is like you have read everything about swimming but never get into the pool. I know things don't work in that way I myself don't prefer that either, I am not a big trader but I follow almost the same approach you mentioned here. Again a big thanks for your time and the valuable inputs.
 
#6
The words that I am about to put down are my personal experience from trading for more than 20 yeras. By trading I mean Intraday trading, not buy and hold. Please dont take offence to what I am about to say.

You cant learn to trade by reading books.
I have read almost 25 books, many of them multiple times. They cant prepare you for trading. What prepares you for trading, is trading itself.
Get an account with a broker, who does not charge too much per trade, and start trading in small qty like 2 or 5 shares. Take positions multiple times a day, Win or loose say 25 rs per day. Try different scrips, try to get feel of the market.Do this for at least 3 months.
NOW,
Sit down with a pen, pencil and lots of paper. Write down what you have observed. How does the particular scrip move. How does it react around certain levels. And a 100 moe things.
Fill pages, and if you cant write 50 full A4 pages, you have learnt notthing

After this, try tp create a trading system based on what you have learnt. Create Rules. Then trade those rules with 5 shares. For 3 months.
In these 3 months, you will learn a hell of a lot more. A lot of rules wil change.
Then start trading the changed rules with maybe 10 shares. Repeat the above process as many times as required.

Even after all this you will fel psychological issues. Like today, I mised a short on the Nifty as it was already down 125 points and I though its a futile attempt to short here. And the markets humbled me
may i ask you a single simple question and would care to answer ? for my own purpose i look for this answer since u have 20+ years exp . only in trading part( not investment ) .. r u in profit ? possible sir to give yes/no answer ?
 

sumosanammain

Well-Known Member
#7
Thank you for sharing the information @sumosanammain I completely agree with you that reading alone will bring nothing to the plate. It is like you have read everything about swimming but never get into the pool. I know things don't work in that way I myself don't prefer that either, I am not a big trader but I follow almost the same approach you mentioned here. Again a big thanks for your time and the valuable inputs.
Even after 2 decades in this field, I am still work in progress :)
 
#8
may i ask you a single simple question and would care to answer ? for my own purpose i look for this answer since u have 20+ years exp . only in trading part( not investment ) .. r u in profit ? possible sir to give yes/no answer ?
If he very honestly answered in "Yes" will you get convinced ? I am sure if that answer is different from what you have in mind you will come out with things like show me the contracts, ledger...how much quantity, how much profit, show me all other trading accounts, how do I know that you dont transfer a losing trade to different account and keep only winning trade here etc and successful traders will not be interested in answering these questions...why should they ? they are not selling any trading system,not doing any workshop, not doing any newsletter, not seeking any money to manage, not even seeking any publicity they already have enough....so I dont think they will break their heads in convincing you....so you wont achieve anything by this question...you seem to have made up your mind already.....

Smart_trade
 
#9
If he very honestly answered in "Yes" will you get convinced ? I am sure if that answer is different from what you have in mind you will come out with things like show me the contracts, ledger...how much quantity, how much profit, show me all other trading accounts, how do I know that you dont transfer a losing trade to different account and keep only winning trade here etc and successful traders will not be interested in answering these questions...why should they ? they are not selling any trading system,not doing any workshop, not doing any newsletter, not seeking any money to manage, not even seeking any publicity they already have enough....so I dont think they will break their heads in convincing you....so you wont achieve anything by this question...you seem to have made up your mind already.....

Smart_trade
Sorry Sir , I cant held responsible for your thoughts .. you may be met n number of guys like that .. anyway in the next post it seems he replied ..
 
Last edited:
#10
Sorry Sir , I cant held responsible for your thoughts .. you may be met n number of guys like that .. anyway in the next post it seems he replied ..
No...his post is not in responce to your question because though from the time stamp will appear that he posted after your post, I have cleared your question post after 7:15 pm today as it was waiting for moderator clearance....

So we wait for Sumo's answer to your question........he may add some new inputs...

Smart_trade
 

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