Day Trading Stocks & Futures

lemondew

Well-Known Member
My last post for the weekend. All the best. I restrict myself in weekends. There are many good traders here. Take the best out of them. Give the best back to them.


I really don't use the super trend indicator all the time. It works on certain setups and certain times only. I know it doesn't matter with a 0.

I rely on something else. I would like to use one of my all time favourite book title - https://www.goodreads.com/book/show/32610.On_the_Shoulders_of_Giants as a cryptic clue.

I am also a crossword solver, especially the ones with cryptic clues, so I'll just leave you with that book title & link to decipher what you make of it and leave it at it and to your (active) imagination!

I am extremely proud of the fact that I scored big 0s initially. Let it be known to the world that I have started small. With a measly capital and made it. And despite many many odds I made it. There is often a sense of schadenfraude that afflicts the so called veteran traders who are extremely resentful of the strides and the quantum leaps made by so called novice traders. It is a slap on the face of all those jokers who thought they'd written me off and who thought they could engage in psych warfare with me and try to undermine me. To them all, they know nothing about me.

I will also proudly state that out aloud because no matter how much ever I shout, it is after all my ITR that is an objective proof of my trading story! A super trader has to be proud and I am proud of it. I am not going to act all humble and say "oh I am a beginner" but at the same time, will I neither soak in platitudes & without acknowledging my beginnings and be falsely egoful to throw snide and underhanded comments at others. So yeah, in sum, I am proud and I won't feign one bit of it.
 
take loan only when you can take more than the interest you pay
Missed this message among others in the melee! :) I don't think I will ever take a loan again.
 
My last post for the weekend. All the best. I restrict myself in weekends. There are many good traders here. Take the best out of them. Give the best back to them.
It is only the weekends that I post nowadays :p

As far as taking goes, I have learnt on my own. I have not taken from any and I am done taking if ever I have done that ever (one must duly account for all ommissions and commissions you see!)

Many market veterans out here from whom they can take and learn & ofcourse who may also be very giving! I won't give anything back to any trader. Not my cup of tea and I don't intend to start that practice now or anytime ever in the future. I give to causes that involve animal welfare and I stick to that! Can't have my ungli in many things you see ;)

My positions don't allow me much freetime during the trading hours anyway! Trading is a serious business really and no matter how much you try and mechanize it, there is still a considerable effort and a level of mindfulness involved. So this is the only free time for me!
 

travi

Well-Known Member
Losses pushing out traders could be following.
1. No stop losses
2. Taking large positions relative to their account size. (Includes leverage)
3. Over trading
4. No strategy/ Not sticking to strategy
5. Not letting profits run vs. letting losses run (Failing on Risk-reward).

Most issues can be placed in one of the above 5 groups, I think.
In the initial days one can attribute their mistakes to all the above.
What i find most necessary is "screen-time". Even if one never made a mistake in any of the above, (s)he lacks the most important screen-time.
All our mechanical traders have evolved from this. Some mech traders then went further and automated it.
To be a mechanical trader you need lots and lots of screen-time just like you gain experience in any other profession. ( atleast that is what i think)
so if anyone stumbles across these posts, they should keep their trading losses very minimal while they gain their screen-time so they can be there later to get into actual trading.
 

sridhga

Well-Known Member
In the initial days one can attribute their mistakes to all the above.
What i find most necessary is "screen-time". Even if one never made a mistake in any of the above, (s)he lacks the most important screen-time.
All our mechanical traders have evolved from this. Some mech traders then went further and automated it.
To be a mechanical trader you need lots and lots of screen-time just like you gain experience in any other profession. ( atleast that is what i think)
so if anyone stumbles across these posts, they should keep their trading losses very minimal while they gain their screen-time so they can be there later to get into actual trading.

Totally agree with you.

Mechanical Trading:
Most mechanical traders are replacing screen time with back testing. That is like researching on dead instead of live data.
Automation:
Let us look at how automation started. In early 2000, large trading groups invested in algorithms to slice their large orders into small orders and trade/invest in the market in the stealth mode. In the process they additionally used this system to scalp as the stock moved up or down due to their own buying or selling. Most retailers do not need this. For retail, this is like eating with knife and fork when you can eat with bare hands.
 
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Subhadip

Well-Known Member
Do they. I dont thinks so anyone can post profits in itr. No one will complain if you show excess income ......
means... we have to post profit..how can we show loss...in audit...

sorry..may be i have not understood..
 

Subhadip

Well-Known Member
Most successful traders have initial 2-3 years as losing years....but all the (or most of the ) traders who have losses in initial 2-3 years dont become successful traders.....they remain struggling traders for 7-8 years,collecting various methods and systems but never perfecting any of them and mostly leave trading by blaming the operators, rigged markets, RBI,Govt and its policies,SEBI,Trading margins,inflation,lack of growth,Corona etc etc etc....but not themselves...yah anaadi kaal se chal raha hain....aur anant kaal tak chalega.....:)
very true sir
 

Subhadip

Well-Known Member
Losses can be carried forward and set off against 3 years provided if and only if you have filed your returns. Ask your CA/ auditor who has filed it on your behalf and he will tell you. My CA does everything for me and he did this on my behalf.
3 year....AFAIK..8 year...am i right?
 

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