Day Trading Stocks & Futures

[Self-employedTrader]

We have a flood of information. Traders like us, In pursuit of success learn everything that looks fancy.
We read or hear something in a website or a book or from a wise man on tv. Because we do not know what that new information/method is, we will believe in it. In this process we accumulate lot of information which is useless. Unlearn these things.

Why I said we cannot make it with candle sticks, is not because it is not powerful enough to predict.
I said it because, fundamentally a Candlestick is not a tool for prediction. I know this view is contradicting the whole lot of information available on internet and books where every candle pattern has a predictive meaning. And Its not limited to candle pattern, many other popular things we hear on daily basis are incorrect.
They will fail the test of reasoning.

What ever learning you do ahead, apply logic and reasoning. This will save time & money. All the Best to you.

Very true Mohan bhai.. We have to use few right knowledge, although all failures also are knowledge. This is the third or fourth time I'm failing and going back to learning since i began trading. Every time i observe new pattern or strategy, i end up knowing it's not sufficient enough to survive. This time i learned about systematic trading here in TJ. I'm trying to apply my past knowledge in system. Let's see how it works this time... Will share my trades once i begin maybe in a month or two.

 

[ncube]

i have a slightly distant opinion than yours. we traders are in the business of predication only. use any other word for it bias, expectation etc etc. when we enter a trade we expect/predict it to work in our favor. every single tool/ method/ works we the premise of profitability, which is what in plain and simple term "prediction" (% may differ of each method/system).
the biggest myth for me is, what is the position of the mkt/trend etc "AS OFF NOW". there is nothing like as off now, as off now trend is up and price is at support with pin candle - we are predicting that price may go up.
problem is not with candlestick or patterns or crossovers, problem is most ta traders fail due to lack of foundation of technical analysis (i should say rule based foundation). and you are right saying loads of unlearning need to be done at an intermediate stage of trading career to be successful.

i always do my analysis and trading with expectations/prediction. mkt may either reject it or accept it. if rejected my sl/tsl will hit. but if majority of time my expectations are in line with mkt i will come out profitable. key is knowing its a,"game of probability prediction".

this is how i do my business of trading. and its not the only way but of mine.

Yes, candlesticks are the pure representation of price action and it cannot get any simpler and using it as a core factor in our strategy will make our system robust.

However I think Mohan was referring to the flood of information regarding trading available on the internet..which instead of helping increases the confusion in traders mind in deciding which info is useful and which is not which leads to constant system hopping and not able to settle using any system. Hence lot of unlearning is required if someone is not successful so far in this business..and wants to improve.

 

[primitivetrader]

Yes, candlesticks are the pure representation of price action and it cannot get any simpler and using it as a core factor in our strategy will make our system robust.

However I think Mohan was referring to the flood of information regarding trading available on the internet..which instead of helping increases the confusion in traders mind in deciding which info is useful and which is not which leads to constant system hopping and not able to settle using any system. Hence lot of unlearning is required if someone is not successful so far in this business..and wants to improve.

yes, you and mohan are right about constant info and too much info freely available. but its FREE not FEE .

i am firm believer of paid trading courses/knowledge and i have taken couple of them barring 1 or 2 hear and there not upto mark or bogus

I always wished i could have taken them in the initial days of my trading. this is something i try to avoid mentioning not because I have done paid courses but its become controversial in trading forums(and i dont want to drag myself is such things). does the vendor showed his trading ledger, are you the vendor selling the course? etc etc. i am mature enough to judge the vendor and his stuff without looking at his ledger. i am looking to get knowledge he may be the worst trader in history, i am all ok with it.

everything has a price in this world something available for free does not mean its free, here price is unlearning, useless stuff, frustration etc etc

 

[XRAY27]

yes, you and mohan are right about constant info and too much info freely available. but its FREE not FEE .

i am firm believer of paid trading courses/knowledge and i have taken couple of them barring 1 or 2 hear and there not upto mark or bogus

I always wished i could have taken them in the initial days of my trading. this is something i try to avoid mentioning not because I have done paid courses but its become controversial in trading forums(and i dont want to drag myself is such things). does the vendor showed his trading ledger, are you the vendor selling the course? etc etc. i am mature enough to judge the vendor and his stuff without looking at his ledger. i am looking to get knowledge he may be the worst trader in history, i am all ok with it.

everything has a price in this world something available for free does not mean its free, here price is unlearning, useless stuff, frustration etc etc

Nothing wrong in getting training,but many also failed in this aspect ..next comes snake oil vendors..good to see you found right person..

 

[KAL.YUG]

JUNE 10, 2019
Mass anomaly detected under the moon's largest crater
by Baylor University

(This false-color graphic shows the topography of the far side of the Moon. The warmer colors indicate high topography and the bluer colors indicate low topography. The South Pole-Aitken (SPA) basin is shown by the shades of blue. The dashed circle shows the location of the mass anomaly under the basin. Credit: NASA/Goddard Space Flight Center/University of Arizona)

A mysterious large mass of material has been discovered beneath the largest crater in our solar system—the Moon's South Pole-Aitken basin—and may contain metal from the asteroid that crashed into the Moon and formed the crater, according to a Baylor University study.
"Imagine taking a pile of metal five times larger than the Big Island of Hawaii and burying it underground. That's roughly how much unexpected mass we detected," said lead author Peter B. James,
Ph.D., assistant professor of planetary geophysics in Baylor's College of Arts & Sciences.The crater itself is oval-shaped, as wide as 2,000 kilometers—roughly the distance between Waco, Texas, and Washington, D.C.—and several miles deep. Despite its size, it cannot be seen from Earth because it is on the far side of the Moon.
The study—"Deep Structure of the Lunar South Pole-Aitken Basin"—is published in the journal Geophysical Research Letters.
To measure subtle changes in the strength of gravity around the Moon, researchers analyzed data from spacecrafts used for the National Aeronautics and Space Administration (NASA) Gravity Recovery and Interior Laboratory (GRAIL) mission.
"When we combined that with lunar topography data from the Lunar Reconnaissance Orbiter, we discovered the unexpectedly large amount of mass hundreds of miles underneath the South Pole-Aitken basin," James said. "One of the explanations of this extra mass is that the metal from the asteroid that formed this crater is still embedded in the Moon's mantle."
The dense mass—"whatever it is, wherever it came from"—is weighing the basin floor downward by more than half a mile, he said. Computer simulations of large asteroid impacts suggest that, under the right conditions, an iron-nickel core of an asteroid may be dispersed into the upper mantle (the layer between the Moon's crust and core) during an impact.
"We did the math and showed that a sufficiently dispersed core of the asteroid that made the impact could remain suspended in the Moon's mantle until the present day, rather than sinking to the Moon's core," James said.
Another possibility is that the large mass might be a concentration of dense oxides associated with the last stage of lunar magma ocean solidification.
James said that the South Pole-Aitken basin—thought to have been created about 4 billion years ago—is the largest preserved crater in the solar system. While larger impacts may have occurred throughout the solar system, including on Earth, most traces of those have been lost.
James called the basin "one of the best natural laboratories for studying catastrophic impact events, an ancient process that shaped all of the rocky planets and moons we see today."

Source:
https://phys.org/news/2019-06-mass-anomaly-moon-largest-crater.html

 

[mohan.sic]

Yeah !!! we get lot of information,we learn lot of stuff,which got no use in practical purpose in our

Myths in Trading

1. Trading related learning is unending ocean

2. For success we need predictive power

3. Pro's operate with super systems or trading method with high strike rates

4. We have to use our knowledge in TA and take decision on candle stick patterns (if and but clauses in trading).

5. There is no word called trading psychology

Facts

1. Learning in trading is limited ,off course we get unending data and schools, lots depends on practical application ,which we don't check

2. Trading success don't need any predictive power,nor it guarantee super success

3. Pro's use mediocre systems with 40 % strike rate or even less, what matters is volume growth in trading account,MM will be robust.

4. Candlestick patterns ,other subjective will create psychological road blocks and we end in no were,making a mechanical system with back test is only way ,but its takes lot of time..

5. Trading psychology is ultimate and we need to do lot of psy drill to carry our own designed system without excuses

Have difference of opinion on "Trading success don't need any predictive power"
Not differing with its validity but cannot be generalization, because we choose different paths and instruments in trading and "predictive power" is mandate in situations.

A option buyer if fails to predict the direction and momentum will lose to time decay.
Option seller expects rangebound market to capture decay. If his prediction fails, he ends with loss. Similar in case on pair buying and selling. Here the instruments we trade demand market prediction as objective rules cannot be applied.

 

[XRAY27]

Have difference of opinion on "Trading success don't need any predictive power"
Not differing with its validity but cannot be generalization, because we choose different paths and instruments in trading and "predictive power" is mandate in situations.

A option buyer if fails to predict the direction and momentum will lose to time decay.
Option seller expects rangebound market to capture decay. If his prediction fails, he ends with loss. Similar in case on pair buying and selling. Here the instruments we trade demand market prediction as objective rules cannot be applied.

Yes !!! you can disagree,that's why we call them as myths,which we carry ,by the time we realise this lot of time is killed..there are words called SL and TSL,which we neglect..just check how many points you discussed..buying options ..means you need trend machanics to catch atleast large part of it..then comes writing of options ,so you want to catch in range markets.this is the biggest mistake we commit to catch both trend and range

Just maintain trend mechanics it will keep your ledger fit and grow..or else we end at learning option terminology..same with predictive power..trend is up we bought a call option just ride it with TSL..this is what I do..I don't care how much it go,or if SL is hit..we are hear for long battle for large number of trades,which is backed by backtest.

Another thing we do is day dreaming about super success stories,watching traders like Soros,RJ or investors like buffet and indian guys RDA, Maheshwari..without working on realistically..end result blowing families and career

i have studied 2 books on system trading..which have helped me a lot..have quoted them in forum..

 

[XRAY27]

Just posting twitter post of Madan Kumar he is also member of our forum.who trades a rule based system with options as naked buyer..we don't need all the mambo jumbo of option terminology,but a rule based system with brain and heart to trade that without excuse

 

[moneymanager1980]

Just posting twitter post of Madan Kumar he is also member of our forum ( i have attended his workshop, to learn quantity scaling, i don't follow his method)..who trades a rule based system with options as naked buyer..we don't need all the mambo jumbo of option terminology,but a rule based system with brain and heart to trade that without excuse

View attachment 37464

thx for posting .. what the system he follows.. possible to post here ? if we have permission from him

 

[mohan.sic]

Yes !!! you can disagree,that's why we call them as myths,which we carry ,by the time we realise this lot of time is killed..there are words called SL and TSL,which we neglect..just check how many points you discussed..buying options ..means you need trend machanics to catch atleast large part of it..then comes writing of options ,so you want to catch in range markets.this is the biggest mistake we commit to catch both trend and range

Just maintain trend mechanics it will keep your ledger fit and grow..or else we end at learning option terminology..same with predictive power..trend is up we bought a call option just ride it with TSL..this is what I do..I don't care how much it go,or if SL is hit..we are hear for long battle for large number of trades,which is backed by backtest.

Another thing we do is day dreaming about super success stories,watching traders like Soros,RJ or investors like buffet and indian guys RDA, Maheshwari..without working on realistically..end result blowing families and career

i have studied 2 books on system trading..which have helped me a lot..have quoted them in forum..

Its okay to disagree on a difference of opinion, welcome it.
But by being too rigid to self opinions, sometimes may fail to get the essence of other words and rub them out as myths.

In simple what I said was, market prediction cannot be ignored while trading instruments like options.
Since these instruments are effected by other factors like time and sentiment, sticking to the trend alone cannot help. Because if we place a random SL/TSL in option without looking at underlying, there is a chance of SL can getting hit even with a flat move in Underlying and if we wait to manually exit the option when trend in the underlying changes, then there is chance that our option goes into deep red by the time we confirm these changes in underlying. So to over come these challenges it is important to have a view on market flow.

It is daily routine where i see option SL getting hit in trends also. So I am being very realistic here.

And please do not see this as System trading vs market prediction. My idea of having a view on market move/market prediction is from a different context.