Hi I am Ansar

ansu

New Member
#1
Hi everybody. I had my first stint at trading when I was 19, about 11 years ago, trading with 10000 rupees. It lasted for a few months with me trading once in a while. As i got busy with my engineering academics didnt have enough time to trade as well, neither did i have resonable capital.

After engineering i got a job in dubai. With steady and fairly good income i became comfortable with a life "not enthusiastic" (read lazy) about finances. However, over time i got fed up with the "synthetic" life of dubai and chose to resign. I came back home for good in dec 2015. Ever since i've been wondering on what to do for a living. I messed up there by not deciding on what next before resigning.

Since I had some experience with stock market and the market being the one we had in 2017, i re-entered market in mid 2017. Invested 50000 had excellent returns of 15% in few days. Anything I put money in seemed to give super returns. So gradually I invested more. Then came budget 2018 and everything ever since came crashing. My portfolio is now down 15%. Its gonna be ok, i hope.

But what actually went wrong was my options trading. With some high ROI initially in options, it grew on me a belief that option straddles/strangles will eventually turn profitable within option expiry period. I know its stupid. And i was and probably I still am. Anyhow fast forward 6 months, i have traded options, like a lot, with some 85% success rate and I have lost 1.7 lakhs. Yup, no risk management.

I understood the importance of risk management in my very first big loss. Till date i couldnt figure out how to incorporate stoploss into my "strategy". That said my strategy keeps on changing as I loose money.

Right now i am scalping banknifty. Success rate is 95%. But with no sense of stoploss, I know all it takes is a single loss. And did happen last tuesday. I lost 30k on 15 lots of bank nifty. Yes, i saw the price go to zero.

The problem is I scalp for even just 2 points. I know just 100 rupees profit from 5 lots. With no stoploss at a risk of 20k.

I know a bit of candlestick analysis and can to some extent intepret reasonably good pivot point and maybe I could use that to time my entry and then trail profit. And then put SL few points below the support pivot.

This is all I am at now in trading. Trading for me is not a secondary source of income. Its my only hope right now. I am burning thru cash and i am seriously worried. But deep inside me, i feel eventually i could develop a good strategy to generate income. And thats whats stopping me from quitting. But I dont think I could keep on trading further if I dont develop a good strategy.

PS: Apart from trading, i was a freelance software developer about 11 years ago. And i was good too, but my life abroad made me numb to take on projects. Though, I still develop small projects for my need.

Currently has an amibroker setup with data from kite and has started learning AFL to try out various strategies.

Thats all about me. Thanks.

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Romeo1998

Well-Known Member
#2
Hello Ansar brother,
I can understand your condition to some extent bcoz I am also in a similar situation since last 1.5 yrs.
I am not an expert, nor do i have much experience but I feel that if stock market is the only source of income, then it will be very stressful and silly mistakes can happen if you are trading manually.
According to me, all are blessed and all r gifted, but a fish must not be judged by its ability to fly. Similarly u r not doing good in stock market but u r good at other things. you are a software programmer, u can do amazing things, dont underestimate urself n dont lose hope :)
U can get lots of work on upwork website :)
and if u want to go abroad again, register on bayt.com :)
once u have a steady source of income, only then try to trade in stock market again.
This is just my opinion, i might be wrong too. Best of luck :)
 
Last edited:

ansu

New Member
#3
Thanks romeo bro for your kind words.

I am also contemplating a return to Dubai. Before that I might give a last shot with 50k. Hope things turn out for the best.

Thanks again bro.

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doss186

Well-Known Member
#4
Hello Ansar brother,
I can understand your condition to some extent bcoz I am also in a similar situation since last 1.5 yrs.
I am not an expert, nor do i have much experience but I feel that if stock market is the only source of income, then it will be very stressful and silly mistakes can happen if you are trading manually.
According to me, all are blessed and all r gifted, but a fish must not be judged by its ability to fly. Similarly u r not doing good in stock market but u r good at other things. you are a software programmer, u can do amazing things, dont underestimate urself n dont lose hope :)
U can get lots of work on upwork website :)
and if u want to go abroad again, register on bayt.com :)
once u have a steady source of income, only then try to trade in stock market again.
This is just my opinion, i might be wrong too. Best of luck :)
Nice Romeo, trading these days has become survival of the fittest. So we have to make ourself fit, fitter and fittest before losing the hard earned money.
 

doss186

Well-Known Member
#6
Thanks romeo bro for your kind words.

I am also contemplating a return to Dubai. Before that I might give a last shot with 50k. Hope things turn out for the best.

Thanks again bro.

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Bro don’t give up. Traders lose money only in two things. First buying a retracement in bear market and selling a pullback in bull market. There is no other way of loosing money in stock market. So my advice is try to understand what is a bull market and bear market. If you identify correctly never short if the stock is trading in positive roc, just only sell and vice versa never buy if the stock is trading in negative roc, just only cover. Buying in dip and selling at top doesn’t work for the beginners.
 

Ravii_67

Active Member
#7
Hi Ansar,

I am a discrepancy price action trader, but I have explored some of indicator based strategies or systems an year back..out of all I tested below system made better sense and it's well designed to take care of elements like risk, money, position size, trade management etc.

Admins, sharing link as I felt it may be helpful for new people. I have no vested interests in it.


https://www.amazon.in/gp/aw/d/B00E66QPCG/ref=dbs_a_w_dp_b00e66qpcg
 

doss186

Well-Known Member
#8
Hi Ansar,

I am a discrepancy price action trader, but I have explored some of indicator based strategies or systems an year back..out of all I tested below system made better sense and it's well designed to take care of elements like risk, money, position size, trade management etc.

Admins, sharing link as I felt it may be helpful for new people. I have no vested interests in it.


https://www.amazon.in/gp/aw/d/B00E66QPCG/ref=dbs_a_w_dp_b00e66qpcg
There is a similar AFL floating in Internet. The name is Rockwell.
 

Ravii_67

Active Member
#9
There is a similar AFL floating in Internet. The name is Rockwell.
And one famous Twitter trader selling it in his package of trading strategies costing 50k + GST.

Not that I am against for selling, but it's not correct to claim it as their propreitory method. Any way my point is this is well designed system if followed properly with discipline..that is the most tough part ;)
 

doss186

Well-Known Member
#10
And one famous Twitter trader selling it in his package of trading strategies costing 50k + GST.

Not that I am against for selling, but it's not correct to claim it as their propreitory method. Any way my point is this is well designed system if followed properly with discipline..that is the most tough part ;)
Lol he only has 50k for trading. How can he buy a system costing 50k. Suggest something feasible.