Day Trading Stocks & Futures

[iwillwin]

Combo people are not mango people....there are few rare who get the combo r8 early on are the true wealth creators from trading profits...they take each trade as a business deal in a business

 

[Self-employedTrader]

“I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way.” - Jesse Livermore

Jessie Livermore was a legend but ended up a disaster... Also a good learning example that money isn't the destiny but passion for it or goal of financial independence is.

 

[KAL.YUG]

https://gulfnews.com/business/banki...ming-bank-stocks-are-in-india-1.1566548144340
7 of the world's 10 worst-performing bank stocks are in India

RBI Kehta Hai...
jaankar baniye satark rahiyeh

Yes Bank Kehta hai...
Experience our expertise

(Slogans/Taglines )

 

[sanju005ind]

Having an opinion of the larger picture is fine.But that is not a tradeable idea and that should not affect our decisions. Just react to the current price and form a reasonable probabilistic idea as to where it might go reasonably within the day either up/down..Also be aware of the daily ATR of the instrument so that we dont keep unrealistic targets. Mechanical, Discretionary does not matter if you are aware at all times of your own emotions and the thoughts which keep popping up. Just laugh at it and don't take action on it. Before putting the trade expect it to be a losing one and put a stop loss.Then don't worry.

Going by the most of the posts I feel the position size is large that's why people are getting out early even before meeting the target or keeping a tight SL.(I may be wrong here.)which is being hit. Sometimes we feel the move already has happened and don't know what to do,but there is a compulsion to put on a trade hence we take counter trend trade .Counter trend is not bad by itself.But need to remember that the target will be small and should get out early. If you miss a big trendy move don't chase price,wait patiently and you will definitely get a pullback.If not let it go.The market is not going to be closed or we will never get a strong trendy move.

 

[primitivetrader]

Having an opinion of the larger picture (instead of having an opinion one must have a clear and concise knowledge of larger picture(HTF) for me its a HTF trend, i will never go against it (barring when its OS/OB- problem is most of the traders using TA does not know objectively what to see there or how to have rules based approach even for trend definition) is fine.But that is not a tradeable(one must not trade against larger picture(HTF), now we talk about intra, for few points what is the need to go for so much trouble- ie to do MTF analysis/ knowing the larger picture, well i was of the same belief for pretty long time in my trading, but thn realized what an imp piece i was missing once i started using MTF for intra trading also) idea and that should not affect our decisions. Just react to the current price(rather than reactive why not proactive, basic of TA is to buy as low as possible and selling as high as possible - or the way i define, if i want to buy i will buy as low as possible below CMP and if i want to sell i will sell as high as possible above CMP) and form a reasonable probabilistic idea as to where it might go reasonably within the day either up/down..Also be aware of the daily ATR of the instrument so that we dont keep unrealistic targets. Mechanical, Discretionary does not matter(my experience is that it makes winning difference, for years i have done discretionary trading and once switched to mechanical/ rule based trading i have zero issue of emotions/MM/ trading psychology- i dont know where they have vanished) if you are aware at all times of your own emotions and the thoughts which keep popping up. Just laugh at it and don't take action on it. Before putting the trade expect it to be a losing one and put a stop loss.Then don't worry.

Going by the most of the posts I feel the position size is large that's why people are getting out early even before meeting the target or keeping a tight SL( this is due to lack of rule/mechanical based methods and most are not having a method or written plan, as its very difficult to write a trading plan if you do not have a rules based approach they are trying to trade on the basis of an idea).(I may be wrong here.)which is being hit. Sometimes we feel the move already has happened and don't know what to do,but there is a compulsion to put on a trade hence we take counter trend trade .Counter trend is not bad by itself.But need to remember that the target will be small and should get out early. If you miss a big trendy move don't chase price,wait patiently and you will definitely get a pullback.If not let it go.The market is not going to be closed or we will never get a strong trendy move.(the nagpur hotel in pune, is very famous for saoji cuisine)

 

[Self-employedTrader]

Having an opinion of the larger picture is fine.But that is not a tradeable idea and that should not affect our decisions. Just react to the current price and form a reasonable probabilistic idea as to where it might go reasonably within the day either up/down..Also be aware of the daily ATR of the instrument so that we dont keep unrealistic targets. Mechanical, Discretionary does not matter if you are aware at all times of your own emotions and the thoughts which keep popping up. Just laugh at it and don't take action on it. Before putting the trade expect it to be a losing one and put a stop loss.Then don't worry.

Going by the most of the posts I feel the position size is large that's why people are getting out early even before meeting the target or keeping a tight SL.(I may be wrong here.)which is being hit. Sometimes we feel the move already has happened and don't know what to do,but there is a compulsion to put on a trade hence we take counter trend trade .Counter trend is not bad by itself.But need to remember that the target will be small and should get out early. If you miss a big trendy move don't chase price,wait patiently and you will definitely get a pullback.If not let it go.The market is not going to be closed or we will never get a strong trendy move.

Yes, i blownup my account in counter trend trades. The strategy was promising in paper trade, but i took the trade in stocks while Nifty was falling like knife. Also although i felt there was not bad R to R, no position sizing or money management.. In 2-3 trade, i lost more than half, so stopped and withdrew. But this leaded to fine-tuning in terms of systematic trading.. so that was a price paid..

 

[TraderRavi]

“CONTINUE WITH TRADES THAT SHOW YOU A PROFIT, END TRADES THAT SHOW A LOSS”

For most traders it is too difficult to take a loss. First they take their profit on a winning trade. And hold on to the losing trades.
Hoping that those losing stocks will turn around and change in a profit.


“Instead of hoping he must fear and instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.”

-Jesse Livermore

 

[Riskyman]

“CONTINUE WITH TRADES THAT SHOW YOU A PROFIT, END TRADES THAT SHOW A LOSS”

Bhai, Sadly most traders are not good at cutting losses. They will hold on to losses and end profitable trades quickly. Specially, in the newbie phase.
Maar khane ne baad hi yeh aadat badalti hai.

 

[against_tides]

Bhai, Sadly most traders are not good at cutting losses. They will hold on to losses and end profitable trades quickly. Specially, in the newbie phase.
Maar khane ne baad hi yeh aadat badalti hai.

Bhai..why are you talking about me ..
Ab yeh bhi bata do kitni maar khaani hai..can this process be speeded up..

 

[Riskyman]

Bhai..why are you talking about me ..
Ab yeh bhi bata do kitni maar khaani hai..can this process be speeded up..

Haha!! Not talking about anyone in particular.

Yes learning curve can be shortened a bit.

Choose a method to trade. Without a method you are as good as a warrior without a sword.
Make your rules, stick to the rules. You will break rules every now and then which is fine. But you should be able to stick to your rules 8 out of 10 times at least. If you cannot do this, find an alternative career.
Practice, practice and practice more. There is no substitute for this.

In the initial stages, dont focus on making money. Stick with small units where even if you lose it wont hurt you much. Problem is most traders think market is an ATM machine giving out free cash. Its not the case always. Focus on sharpening your skills and improving your psychology.
Trading need not be a difficult business. With time and practice you will learn to put two and two together.

Study charts. In my view, one needs to put in at least 10,000 hours reading charts before one can become a good trader. Tho lag jao kaam pe!!