Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
Only trade what you can handle psychologically. Additional to financial loss, the psychological setbacks are huge.
Earlier I used to trade everything possible: crude, stock-index futures/options, cash. I started feeling very lethargic at times. It developed into an addition- I started to pray that weekend should end as soon as possible, so that I can start trading again.
My family members started saying: "Isi screen me ghus jao
" (Go inside this screen). Falling hair follicles was another thing readily noticeable
Later I dropped commodities completely, reduced F&O in stocks. Started focussing only on trades with good Reward/Risk. Stopped analysing every time (more analysis, never makes a better trader).
This was my part So it all boils down to- how comfortable you feel in trading any instrument and amount of trading. It feels like an addition, may be its time to reduce some.
Earlier I used to trade everything possible: crude, stock-index futures/options, cash. I started feeling very lethargic at times. It developed into an addition- I started to pray that weekend should end as soon as possible, so that I can start trading again.
My family members started saying: "Isi screen me ghus jao
" (Go inside this screen). Falling hair follicles was another thing readily noticeable Later I dropped commodities completely, reduced F&O in stocks. Started focussing only on trades with good Reward/Risk. Stopped analysing every time (more analysis, never makes a better trader).
This was my part
So it all boils down to- how comfortable you feel in trading any instrument and amount of trading. It feels like an addition, may be its time to reduce some.
*First and foremost always keep SL since it is a beast and can turn anyway and only trade CrudeMini increase your lot size accordingly... Always book half @20-25 points trail rest.
*Take out your P/L report from past 3-4 months and check if those big losses are becoz you have traded on inventory day (casino day) or some event day.
Do consult @Tuna @stock_mani @Apacheindian they are regular in trading crude the beast
*Take out your P/L report from past 3-4 months and check if those big losses are becoz you have traded on inventory day (casino day) or some event day.
Do consult @Tuna @stock_mani @Apacheindian they are regular in trading crude the beast
Definitely taking a break from trading I think. I would have to read up on position sizing it looks like and also finding a proper money management strategy.
Also, my mistakes were all silly ones. Not to do with the technical stuff but because at times I became greedy and was in trade for too long when i was supposed to exit. I will probably get back to crude trading again but for the moment, I am going to take a break.
Afin Bhai, Itna mat socho! Dont get too trapped in a lot of technicalities. Instead pay attention to your psychological aspects.
You cannot handle your emotions. Why? Coz they are uncomfortable emotions. If you do silly things, you get silly results which cause these silly emotions. Running away from them will never help. Good chance is that when you come back after a break, you are likely to do the the same things and you will go through the same emotions again. Tell me if you haven' been through it in the past??
Better thing to do would be to have an objective look at what caused those emotions. The answers is...stupid decisions. So work on decision making rather than emotions as emotions are only the after effects of decisions we make. Trading is a mind game. Its a game of decision making!
We should trade to make money and never for the emotional roller coaster rides trading offers. If you like emotional upheavals once in a while, watch a shah rukh khan movie. Keep things simple. Have a perspective. Its not really hard to do.
Edit: Apologies if I sound rude. My intention is only to tell you that its easy to get too caught up in things that do not matter much.
I have been through this curve and its a slippery one. Its one of the reasons why most fail as traders. Dont get stuck in it.
You cannot handle your emotions. Why? Coz they are uncomfortable emotions. If you do silly things, you get silly results which cause these silly emotions. Running away from them will never help. Good chance is that when you come back after a break, you are likely to do the the same things and you will go through the same emotions again. Tell me if you haven' been through it in the past??
Better thing to do would be to have an objective look at what caused those emotions. The answers is...stupid decisions. So work on decision making rather than emotions as emotions are only the after effects of decisions we make. Trading is a mind game. Its a game of decision making!
We should trade to make money and never for the emotional roller coaster rides trading offers. If you like emotional upheavals once in a while, watch a shah rukh khan movie. Keep things simple. Have a perspective. Its not really hard to do.
Edit: Apologies if I sound rude. My intention is only to tell you that its easy to get too caught up in things that do not matter much.
I have been through this curve and its a slippery one. Its one of the reasons why most fail as traders. Dont get stuck in it.
Last edited:
Hey bro! So good to see you A champ won't do such silly mistakes like that I just trade crude oil 95% of the time now a days, no other commodities. Only 1 instrument at a time and track it like crazy. I am finding it less taxing on the mind.
How have you been? I don't see you much here these days.
A champ won't do such silly mistakes like that I just trade crude oil 95% of the time now a days, no other commodities. Only 1 instrument at a time and track it like crazy. I am finding it less taxing on the mind.How have you been? I don't see you much here these days.
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