Day Trading Stocks & Futures

Last edited:

XRAY27

Well-Known Member
Bhai , Swing capital should be large enough to take care of big losses. Mostly gaps are in favour of prevailing trend but sometimes bad news like this can come out.
Lets say if someone holding 1 lot crude oil short in mcx and crude opens $5 up that means , 35000 loss
and if $10 then 70,000 loss per lot. But people use 55k NRML margin as capital. So many will get wiped out on monday volatility.
Big money can be made only by holding and sitting tight on your profitable position for many days/weeks.
A guy (not on this forum) started with only 40,000 as capital , using elliot waves he spotted a trade and bought puts. Nifty gave many up downs but he was sitting tight on his position and ultimately exited with 2 lakh Rs.
how many trades can show such patience. Most will exit at 50k , happy with 25% profit and 90% at 80k as money doubled but he waited until last drop of juice :eek:
This is the exact point TR bhai!!!, Day dreaming fallacy, just comparing our position with another person or school of trading will yield nothing..right approach will be ask our self have I traded my plan?,if answer is yes then it's okay move on..discretionary stuff will not help in growing account size,I suffered a lot with size of trade
 

XRAY27

Well-Known Member
thank you a lot sirjee! :) editing the original post with added 5th point
I traded for 6 months ,with single point approach following trade plan,no excuses what so ever,later returned to normal trade size,if we still continually carrying our fingering, then needs to carry this steps for another 6 months..offcourse this is my psy drill.
 
Meditation helps in keeping our mind cool and Focussed.Once we are in the market,we get into a zone and here we just concentrate on our trade set up,trade given out by our system,our initial stoploss ,our stoploss trail levels and profit booking.One should not have any thoughts of different indicators,different inputs when we are trading.All the thinking has to be done while making and testing a system. During trading time no thinking, just execution....During trading time our mind should be calm and totally Focussed on the process of trading .Once we are out of trade then we can chit chat,post on TJ etc...when in trade just think of how we manage that trade.I don’t even take phone calls when I am in a trade as I need full focus on my trade management.

Meditation has helped me in staying calm not only in trading but even in other tasks in our day to day life.

Smart_trade
 

travi

Well-Known Member
Sometimes people over work their minds while meditating.
Meditation doesn't have strict rules, it is supposed to be like reconcilation in accounts.
Many times, I keep something safely and months later I can't find it.
At that time, I meditate, and it takes some time or a few attempts, but eventually or most of the time I can recall exactly what I want.
I don't know of any other method by which u can achieve this.
Power is within u, watch KungFu panda, might help in conveying the thought I have :)

From Tapatalk
 

TraderRavi

low risk profile
Drone attack on Saudi plants may lift oil prices by $5-7/bbl; IOC, HPCL, BPCL, GAIL in focus


Crude oil prices are expected to see a sharp spike of $5-7 per barrel on September 16 when the global markets open for trade, reacting to the major drone attacks on two Saudi Aramco oil facilities in eastern Saudi Arabia, Emkay said.
It caused a severe fire at both facilities -- Abqaiq and Khurais -- in early morning September 14.
The report said the Houthi rebels have officially claimed responsibility for the attack and threatened more attacks unless Saudi and its allies stop their offensive against them.

The Abqaiq and Khurais oil processing plants have capacities of 7 million barrels per day (mbpd) and 1 mbpd, respectively.

Emkay said a sudden spike in oil prices is negative for oil marketing companies (IOCL, BPCL, HPCL), but higher oil prices are positive for GAIL.


The production halt is a preventive measure and in 48 hours operations could normalize, the report added.
The Houthis are allegedly backed by Iran, and Iranian officials have praised the attack.

The concern that important Saudi oil facilities are now vulnerable to attacks by rebels would increase the geopolitical risk premium on oil prices, Emkay said.

Saudi Arabia and its allies may also retaliate, leading to more tensions and a broader clash with Iran can be severe, according to the brokerage.
It said the US may toughen its stance on Iran, contrary to the belief that the Iran-US standoff may have subsided after the recent resignation of US National Security Advisor (NSA) John Bolton.

https://www.moneycontrol.com/news/b...7bbl-ioc-hpcl-bpcl-gail-in-focus-4437401.html
 

ncube

Well-Known Member
Since everyone is talking about meditation over the weekend afternoon, I will also join in...:) Meditation is a process of bringing discipline in life, mind and thoughts. Not something to be done at a particular time in the day, should be included as the way of life. This is very important for trading success, especially intra-day trading.

Markets are very random, if trader is also random in his thoughts, process and style there is no way he will be able to find success in trading. This is why trader psychology is very important. The first point a trader need to learn is to bring stability in his thoughts and process that he follows, this will negate the randomness in the market and allow one to see pattern after all the noises are filtered.

If you can understand this youtube video from the perspective of trading and life...which will not be very easy...:)...but I can say with confidence and personal experience that you will start seeing things in a different perspective and your trading experience will change for good..:)


If possible try reading the book "The power of Now" by Eckhart Tolle, same person from the above video.
There are many good books on meditation by indian authors, but you will find this book more easier to understand and practice.
 
Last edited:

rmike

Well-Known Member
afin said:
trust me when I say that multi-tasking is a myth and the greatest scam perpetrated upon us. Humans cannot multi-task. We can only do things sequentially
:rolleyes::rolleyess:

Not to be in disagreement with someone who purports himself to be a teacher on the subject!!! But haven't you ever listened to FM OR Had a conversation on mobile while driving???

That being said, multitasking may degrade the performance of a said activity depending upon the persons' mental acuity & capacity!!!

doss186 said:
In my opinion a meditator can never succeed in trading
Meditation is merely the process of emptying out one's mind to sharpen focus on whatever is desired without being badgered/ distracted by subliminal white noise!!!

When put to use correctly it will enhance performance in not only trading but other endeavours too!!!
 

Similar threads