Getting your feet wet -- starting to trade

[trader111]

All other is unimportant;imp is
Adequeate Capital,Right Methodology,Good Mentor.
Asish

Searching for a mentor is the most serious crime beginners commit.

Jesse here is talking about J.K. and he always suggest on finding one's own way.

Some other good ones

For the guru mongers

Now, if you must have a guru, somebody to inspire you, to encourage you, to tell you that you are doing well, it means that you are relying on that person, and inevitably you are lost when he goes away someday. The moment you depend on a person or an idea for inspiration there is bound to be fear, therefore it is not true inspiration at all, Whereas, if you watch a dead body being carried away, or observe two people quarrelling, does it not make you think? When you see somebody being very ambitious, or notice how you all fall at the feet of your governor when he comes in, does it not make you reflect? So there is inspiration in everything, from the falling of a leaf or the death of a bird to man’s own behavior. If you watch all these things you are learning all the time; but if you look to one person as your teacher, then you are lost and that person becomes your nightmare. That is why it is very important not to follow anybody, not to have one particular teacher, but to learn from the river, the flowers, the trees, from the woman who carries a burden, from the members of your family and from your own thoughts.

The difficulty with most grown-up people is that they have not solved the problem of their own living, and yet they say to you, “I will tell you what is practical and what is not.”

He rightly said that to FOLLOW ANOTHER IS EVIL NO MATTER WHO IT IS and that so greatly applies on the markets where u suspend ur brain to follow some body elses tips and in the process learn nothing

In all trading-related literature none come close to Livermore.

 

[praveen taneja]

Searching for a mentor is the most serious crime beginners commit.


OK I will quote CV himself to convince you:




In all trading-related literature none come close to Livermore.

sir i too took huge losses n thats for several years but try to keep on trying my luck n i m sure when i m able to read views of all of u wonderful guys my bad days are over god bless u all

 

[skarpio]

I can only share one of my bitter experience here [...]atleast Seed Capital should be 4 times.

The backup can be actually n times your seed. How to define a suitable value of n? The number 3 was what I thought enough to scare away people for ever. The tenacity of purpose to comeback for a fourth time is definitely not meant for the ordinary.

Thank you for sharing your experiences.

[...] Lucky to have a mentor like Jesse,if i would have got this oppurtunity in my early Trading Life,Jesse would not have been Lonely now.

I wish! But this thread is not about me.

All other is unimportant;imp is
Adequeate Capital,Right Methodology,Good Mentor.
Then after when we are prepeared these in your List are necessary.

It seems I am having issues communicating my thoughts. Note, that I never ever tried to impress upon anyone the fact that the cart is more important than the horse. The method is of supreme importance. Agreed. But there are incidental costs which I was trying to delineate for no particular reason. If you have ever set up a business you need two things -- a plan and enough dough to execute the plan. I was referring to the dough.

And no, I am not so sure about the mentor part. Call it experience.

So, has the thread become sterile enough with my replies to warrant euthanasia?

 

[sanx]

I don't understand the capital X N times . When the first capital comes close to 50 % or 60 % what where you doing ? ( you might be think , I have 2 more seeds ,its ok ?) , when the first capital is wiped out ,what makes you think that you can click with 2nd capital and for that matter the third time ? . If you can not do it with one capital ,why do you think you can click with N times the initial capital .

So you guys are assuming that losing 2 times is ok , but not the third time ? . I might be wrong or I don't know what I am talking .... ?

 

[uasish]

Searching for a mentor is the most serious crime beginners commit.

Jesse here is talking about J.K. and he always suggest on finding one's own way.




In all trading-related literature none come close to Livermore.

Got your view,still feel as any Research Fellow needs a Guide,similarly a proper advise subtle adjustments in the Thought Process time to time Reduces the "Nirvana" Time part,this is my subjective view.
Another thing ,read many books,many Legendaries Success story,but those are those Gr8 Traders way it may not neccassarily be my way.
Interaction with Mkt everyday teaches us Best.
Was Reading your 'Phantom Trader's' post,see how the same Rule 2 ;Saint follows,and though knowing these things for Long Time i am never comfortable with Rule 2;in intraday.

 

[uasish]

Scarpio,

This is indeed a very good effort from your part,all tit-bit queries gets answered in one thread.
Sorry if i have changed it's course.Actually , Sanjay's Equity Curve in that Nifty Mechanical..... thread,has infact induced a spark.He has rightly pointed out,thought to also give the Mssg how undercapitilazation is Over Looked by many.
Plz continue your good effort.

Asish

 

[skarpio]

I don't understand the capital X N times . When the first capital comes close to 50 % or 60 % what where you doing ? ([...]

So you admit we can lose 50% of seed X. Now, look at it the other way round, assume your seed was X/2 only -- now you have lost the entire seed haven't you? The wiping out of capital may not mean that you have lost 100% of your seed, that is the extreme case. However, when I talk of seed I mean something you can rely on when you suffer (one/more) massive loss(es).

 

[sanx]

we can put it in other words . Start with a adequate capital , now divide it by 3 and use only 1/3rd now . The other way would be of miss guiding the newbies (thats my opinion) .

 

[skarpio]

Scarpio,

This is indeed a very good effort from your part,all tit-bit queries gets answered in one thread.
Sorry if i have changed it's course.Actually , Sanjay's Equity Curve in that Nifty Mechanical..... thread,has infact induced a spark.He has rightly pointed out,thought to also give the Mssg how undercapitilazation is Over Looked by many.
Plz continue your good effort.

Asish

Threads "either die a hero or [...] live long enough to see [...]themself become the villain." (Keep guessing where I got that from).

Thank you for your kind words. Also, this is a collaborative effort to get to a bucket list -- so feel free to contribute.

As for Sanjay's post, yes, that is a masterpiece and in context here, too.

 

[uasish]

So you admit we can lose 50% of seed X. Now, look at it the other way round, assume your seed was X/2 only -- now you have lost the entire seed haven't you? The wiping out of capital may not mean that you have lost 100% of your seed, that is the extreme case. However, when I talk of seed I mean something you can rely on when you suffer (one/more) massive loss(es).

Yeah very right,i still maintain 3 Seed Capital ,it was not correct for me to Quantify the Amount (actually i was thinking of Trading in Nifty Fut).

Cash Mkt exposure can be the 1st step.