diary of a day trader

[augubhai]

bot 6000 CE @ 90....missed @87.....

Reason? Buying on pullbacks?

 

[TraderRavi]

Reason? Buying on pullbacks?

yes........86 par rakha tha..but miss ho gaya..

 

[TraderRavi]

bot 6000 CE @ 90....missed @87.....

sold @ 105............:thumb:

 

[TraderRavi]

for two years after every expiry day my account became zero, due to nifty options....:annoyed:..:
atleast no such expiry options in commodities, zero to nahi hoga, god bless me.....:clap:

 

[TraderRavi]

Bhai log....taking first break from trading after 30 months of continuous trading........may be upto march/april 2013...........will start with only nifty/mininifty and good capital & money management...........:thumb:

waade hai wadon ka kya.........:annoyed:

 

[TraderRavi]

Bhai log....taking first break from trading after 30 months of continuous trading........may be upto march/april 2013...........will start with only nifty/mininifty and good capital & money management...........:thumb:

first time in 3 years, making money management rules for my trading......:thumb:
1) maximum risk per trade 3% of capital.
2) maximum risk for the trading day capped @ 5% of the capital.

God give me strength to follow these rules......

 

[stock72]

TR ,
the problem is during crisis time our mind stops working . It is true that during sex, violence etc. only some 2 or 3 knowledge (instead 6 knowledge) works.

We froze like cat just starring the bright light of fast approaching car. SO the bottom line it is not possible to make our mind to work during crisis time .

first time in 3 years, making money management rules for my trading......:thumb:
1) maximum risk per trade 3% of capital.
2) maximum risk for the trading day capped @ 5% of the capital.

God give me strength to follow these rules......

 

[TraderRavi]

TR ,
the problem is during crisis time our mind stops working . It is true that during sex, violence etc. only some 2 or 3 knowledge (instead 6 knowledge) works.

We froze like cat just starring the bright light of fast approaching car. SO the bottom line it is not possible to make our mind to work during crisis time .

actually what happens is when our trade goes wrong , and starts going in RED and BIGGER & BIGGER, we go into praying mode from trading mode.....I want to give some space for my trade to become right , if not then out with 3% loss rather than irreparable loss to capital. I was going through my trading diary(real copy) and pure waste of money in some trades in nifty options ..sometimes 40000 loss in single trade ..lots of losses are in excess of 10000, 20000 in a single trade.....I do not want to throw away my capital now.:thumb:

 

[Smart_trade]

first time in 3 years, making money management rules for my trading......:thumb:
1) maximum risk per trade 3% of capital.
2) maximum risk for the trading day capped @ 5% of the capital.

God give me strength to follow these rules......

Write down these MM rules on your trading desk and read them before starting a trading day. Decide to follow them ruthlessly for that trading day.....and if you dont follow it, take a punishment like skipping the dinner...because every time your mind will say " let me overstep these rules only this time....."

One of the lessons a very senior trading veteran taught me when I was starting out in trading is never freeze, but act. If the market is going against you, reverse the position if you can ...if you cannot, atleast get out of the loosing positions.....his teachings are so relevent even after a decade.......

Smart_trade

 

[DanPickUp]

It is best to keep out any religion from trading and even mention it is a peace of wrong thoughts, as trading has nothing to do with any what ever maybe would like to be best god. Just irrelevant like believing that it then will be the right trade when having faith into what ever. Absolute nonsense.

Very practical and very useful thoughts with out nonsenses is this<

One of the lessons a very senior trading veteran taught me when I was starting out in trading is never freeze, but act. If the market is going against you, reverse the position if you can ...if you cannot, atleast get out of the loosing positions

Well said dear ST.