HAPPY's Trading Dairy

[Happy_Singh]

i took in same direction i.e 10 mnt tf
But trades are different
long abv 10:00(xx515)

exit below12:10((xx540)

Nice trade NR :thumb:

my moving of TSL was lazy . . .

anyway still long on the swing system, stops around xx450 zone


Happy

 

[Happy_Singh]

Good week, but boring day

Squared the swing long, no position now

Will re-start on Monday depending on opening . . .

For now looks like should be expecting more of a sideways . . .


Happy

 

[observer]

I consider a Rally on Daily to be equivalent to an up-trend on hourly/30 minutes.
Similarly a Decline on Daily is equivalent to a down-trend on hourly/30 minutes.

Use bigger position sizing when we have a Rally in an Uptrend or there is a decline in a down trend on daily charts.

Happy

How do you identify uptrend and downtrend in 30/hourly chart?

 

[Happy_Singh]

How do you identify uptrend and downtrend in 30/hourly chart?

How would you identify trend on any chart?

Happy

 

[observer]

^^ By learning from you

 

[Happy_Singh]

^^ By learning from you

Your Joining date at TJ August 2006,
If you been waiting for all these 7-8 years to learn how to identify a trend,
i guess you are not in much of a hurry . . .

its nice to know someone is willing to learn
will get back to you in couple of years,
i.e. if i ever get into training business . . .

Happy

 

[observer]

I consider a Rally on Daily to be equivalent to an up-trend on hourly/30 minutes.
Similarly a Decline on Daily is equivalent to a down-trend on hourly/30 minutes.
Happy

The phrasing confused me...After reading it a couple of times, I could comprehend what you were trying to state.

BTW, Joining dates have nothing to do with learning and knowledge. Thanks to Traderji, it has many good Samaritans on board and poor souls like us won't be at the mercy of trainers.

 

[Happy_Singh]

Thanks to Traderji, it has many good Samaritans on board

I can't agree less . . . (double negation means Yes Agreed another confusing phrasing )

The phrasing confused me...After reading it a couple of times, I could comprehend what you were trying to state.

Happy

 

[Happy_Singh]

BTW, Joining dates have nothing to do with learning and knowledge.

Funny you would say that, I always considered someone who is at TJ for 4/5+ years as a veteran . . .

for example, I learned basics of trading (like price action & trend) from a guy who learned it initially at TJ from Saint,
also coding (Amibroker AFLs) I learned from a guy who in turn claims to have learned it at TJ from one karthikmarar, i have spoken to few other who found their trading teachers / mentors at TJ and these guys are not just students, they are more like devotes

Anyway, every good trader cannot be a mentor/trainer, it takes a certain type of a trader with an ability to teach.



Happy

 

[Happy_Singh]

Lance Beggs Check List for Traders (Note on copyright: This is a free download from his website)

1 Understand why you want to trade.
• What do you want out of life?
• How does trading fit into this life plan?
• What are your beliefs about the markets?
• What are your beliefs about your ability to trade the markets?

2 Are you up to the task of becoming a trader?
• What personal strengths will you bring to your trading?
• What personal weaknesses will impact your efforts?
• What is your attitude to risk?
• How motivated are you to achieve success?
• What are the consequences of failure, and are you prepared to face this possibility?

3 Do you wish to trade part-time or full-time?
• Why?
• If full-time, how do you plan to make the transition from working for a living to trading for a living?
• When will you quit work?
• Will you phase it out?
• How will you support yourself or your family during this period?
• What is your fallback plan?

4 What timeframe do you wish to trade?
• How much time do you have to devote to trading?
• Would you prefer day trading, swing trading or position trading?

5 What are your goals from trading?
• What return on investment are you seeking?
• Daily, weekly, monthly or annual?
• Why?
• Consider whether that return is realistic?
• Are you trading for cash flow or capital growth?
• How long are you expecting it to take for you to learn to trade and achieve this result?

6 Review your financial situation.
• What initial capital will you have available to commence your trading?
• How much can you afford to spend on trading education?
• How much are you willing to lose during the ‘learning’ period?

7 Review your current time schedule.
• How much time can you commit to learning to trade?
• Produce a weekly planner to ensure that time is always available.

8 Seek advice from a licensed financial adviser.
• Discuss your desire to trade, and how it can best be safely incorporated into your wider portfolio and wealth management strategy.