Brainstorming on trading topics

[moneymanager1980]

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

May be .. that does not matter .. but be sure I cant held responsible your thoughts and experience .. if u quote from my post ever i questioned any one who says he is successful ? in fact no one dare to say that so far .. (hope this reply comment will be cleared Moderation . )

 

[vivektrader]

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 ?

For every loser (or a bunch of them), there is always a consistent winner on the other side who is doing all the things right which we are failing to do. As the great majority are losers, that doesn't mean there are no successful traders anywhere. Even in this forum there are many, most common quality amongst them is that all of them are humble. What Sumo said above "am still work in progress" speaks of how humble he is, and not that he is still a failure.

 

[Smart_trade]

This question was asked by Riskyman bhai in daytrading thread and many daytraders confirmed that they are profitable......

ST

 

[siddhant4u]

Judging by how govt is keen on collecting money... anyone asking if trader is in profit may be a govermint agent looking to cross check his/her trading acct with tax account (just kidding)

 

[DanPSup]

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 ?

The following link shows a poll in which many have voted. It should give you an idea about how many are in profit and how many are not in profit:

https://www.traderji.com/community/threads/i-am-a-successful-trader.95231/

 

[mohan.sic]

May be .. that does not matter .. but be sure I cant held responsible your thoughts and experience .. if u quote from my post ever i questioned any one who says he is successful ? in fact no one dare to say that so far .. (hope this reply comment will be cleared Moderation . )

Sir, I take your question in good spirit. But according to you, what is success in trading ?

For me, success in trading is money. Only making money and nothing else.

A day trader like me may make money today, yesterday or in last 1 year. But remember the fact that I am a loser for many years before that. So am I successful trader ?

I may have a consistent edge now. But what is the guarantee I have tomorrow ? Practically nothing. So can I declare the success ?

Hope you understand the problem others will face in answering that question with a direct Yes/No.

 

[mohan.sic]

repost deleted.

 

[sumosanammain]

Just logged in, seems a lot of activity has occured after my post
Let me put things in perspective:
I have struggled since 1992 with trading, where there was only the BSE, and trading was done in the ring.
It took me a lot of years to learn the ropes, and start making money.
After being consistently profitable, I was asked questions like, what do you do for a living?
I used to answer... trading. Then they used to ask... but still, what do you do for a living?
To put such things to rest, even though I was profitable, I took a 5 year break, set up an offline mode of business, as I have children, whom I may not be able to leave this trading business to, and am back to trading now.

ST Sir, knows me on a personal basis, or rather I should say that I have the honour of knowing him personally. He knows how I took my trading break. He also knows my passion about system development and trading psychology.

To put it across in short, I am working at increasing the number of systems that I trade at a time, and am actively pursuing adding more systems to my toolbox.

There has not been any day in my life that I have doubted this business. And neither should anyone. Money is there to be made. The real question is.... Are you ready to take the steps required to make that money?

As said earlier today in another post, I am still fighting with nternal chatter, and missiing out some trades. Part of the process.

 

[Riskyman]

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 ?

Moneymanager bhai, You are banging your head on so many walls just to find one successful trader? What a shame we have none in a country of a billion people.!!

 

[Riskyman]

As said earlier today in another post, I am still fighting with nternal chatter, and missiing out some trades. Part of the process.

You "mind" sharing what this internal chatter is all about?