It all started as fascination towards markets in late 2010...
I am more like a random trader, usually some intraday trades occasionally positional trades.
you say you are a random trader , so thats very bad , you really think being a random trader would be fruitful ? the problem is you dont have a plan , you dont have a system ,you dont even have enough experience on your hand , 1st thing you must do is respect the markets , and take it seriously , 2nd thing is you at this point are in no position to trade because you do not have a plan of what you need to do , then how can you trade? , you thought that markets is so easy to make money that you will get away with random trading but you cannot, stop trading immediately, and start finding a system which suits your personality , decide your time frame for trading , intraday or positional, swing or whatever , suits your lifestyle as you have a job to attend to ,too, after you decided timfreame you must find a systems i told earlier , system shouldnt be too complicated it should be easy to understand with clear entry ,exits ,stop losses defined , with 0 guessing required (i however do not trade on system but thats me , everybody is different) i cannot even tell you a system because i am not a system guy , i am a discretionary trader. the best i can tell you is find a a way to get into markets when markets are in contraction mode prices are in a range , because after contraction comes expansion ,and thats when money is made, without any way /method of trading your innerself will always be confused , when you get a system and be satisfied with it after backtesting it , do paper trading for 2-3 months minimum get it practiced like its your second nature ,you cannot be second guessing your system , it must be part of your personalty ,just like you brake the car when something is ahead of you without thinking, after that start with real trading with least possible position size
My expectation towards market actually is nothing
I find markets as fascinating and one of the toughest problems to crack.
and I think it won't hurt if I happen to crack the code and become richer
you actually want quite a lot from market , not only that you think markets are a problem which needs to be solved by you ...........but you do not know that markets are not a problem , its just as it is , its natural movement , when you trade in the markets the problem is you yourself , stop seeing problem in the markets and start discovering ,what you lack to be a successful trader , markets has not invited you to find a solution , you have gate crashed into the markets because you want money and some emotional satisfaction that you are a solution , but the problem is that you yourself are a problem
I don't have a backtested system except some rules for trading.\
even i do not have a backtested system but i have a mental system of some kind , i watch patterns and higher high and higher lows and trend , if you do not have any plan of trading how can you expect to do good?
I listened to 'disciplined trader' a year before and again a month before, so twice.
I converted text into mp3 with textaloudmp3 so it will take only 3 days max to listen a typical book.
I don't depend on markets for bread am software engineer by profession.
listen to it much much more and also listen to "the trading in the zone" by same author ,twice in 2 years is not good enough , you are not doing hardwork required for the success in the markets , you think you are smart and 2 times is enough , that means you are looking for easy money , thats a dangerous thought inside your sub conscious mind . there is a saying
"it takes a lot of efforts to be effortless "
and when you read it /listen it , do not just pretend that you have understood it ...........i know you have very very false notions about the markets about its manipulations and gaps and what not ............forget everything you know about markets ............start with clean slate , make Mark Douglas your virtual Guru , he is the best psychologist in the markets , surrender to him ,literally, i have recently read both the books , both are related to each other , if you find its boring to listen multiple times , then stop your dreams about being in the markets . you have to make very very profound changes in your thinking and beliefs to be a successful trader ..............are you upto it? are you willing to change ? the answer will decide your future in the markets
What I think about markets?
like a typical newbie I tremendously underestimated the work needed to succeed in markets at the start!
My thought about market has been constantly evolving and I have been maintaining a journal.
Here is a small snippet from my journal each line is a separate topic on its own...
and I have been recording my trades too... The journal is getting fatter and fatter but my wallet has not!
i am a lazy person and a very lazy writer , i tried to write journals but i couldnt , its just not my personality to write maybe but writing is good , the best traders do write journals do not stop writing , i may not even understand 90% of what you may have written , but i think your basic understanding of the markets is flawed , in the sense that you think markets are manipulated , why would you be in a markets when you know that its manipulated ?
why would you go to a restaurant which is unpredictable in the quality of the food it serves ??
why would you go on a bridge which has cracks in its walls and you have a belief that it may collapse anytime ?
I am more like a random trader, usually some intraday trades occasionally positional trades.
you say you are a random trader , so thats very bad , you really think being a random trader would be fruitful ? the problem is you dont have a plan , you dont have a system ,you dont even have enough experience on your hand , 1st thing you must do is respect the markets , and take it seriously , 2nd thing is you at this point are in no position to trade because you do not have a plan of what you need to do , then how can you trade? , you thought that markets is so easy to make money that you will get away with random trading but you cannot, stop trading immediately, and start finding a system which suits your personality , decide your time frame for trading , intraday or positional, swing or whatever , suits your lifestyle as you have a job to attend to ,too, after you decided timfreame you must find a systems i told earlier , system shouldnt be too complicated it should be easy to understand with clear entry ,exits ,stop losses defined , with 0 guessing required (i however do not trade on system but thats me , everybody is different) i cannot even tell you a system because i am not a system guy , i am a discretionary trader. the best i can tell you is find a a way to get into markets when markets are in contraction mode prices are in a range , because after contraction comes expansion ,and thats when money is made, without any way /method of trading your innerself will always be confused , when you get a system and be satisfied with it after backtesting it , do paper trading for 2-3 months minimum get it practiced like its your second nature ,you cannot be second guessing your system , it must be part of your personalty ,just like you brake the car when something is ahead of you without thinking, after that start with real trading with least possible position size
My expectation towards market actually is nothing
I find markets as fascinating and one of the toughest problems to crack.
and I think it won't hurt if I happen to crack the code and become richer
you actually want quite a lot from market , not only that you think markets are a problem which needs to be solved by you ...........but you do not know that markets are not a problem , its just as it is , its natural movement , when you trade in the markets the problem is you yourself , stop seeing problem in the markets and start discovering ,what you lack to be a successful trader , markets has not invited you to find a solution , you have gate crashed into the markets because you want money and some emotional satisfaction that you are a solution , but the problem is that you yourself are a problem
I don't have a backtested system except some rules for trading.\
even i do not have a backtested system but i have a mental system of some kind , i watch patterns and higher high and higher lows and trend , if you do not have any plan of trading how can you expect to do good?
I listened to 'disciplined trader' a year before and again a month before, so twice.
I converted text into mp3 with textaloudmp3 so it will take only 3 days max to listen a typical book.
I don't depend on markets for bread am software engineer by profession.
listen to it much much more and also listen to "the trading in the zone" by same author ,twice in 2 years is not good enough , you are not doing hardwork required for the success in the markets , you think you are smart and 2 times is enough , that means you are looking for easy money , thats a dangerous thought inside your sub conscious mind . there is a saying
"it takes a lot of efforts to be effortless "
and when you read it /listen it , do not just pretend that you have understood it ...........i know you have very very false notions about the markets about its manipulations and gaps and what not ............forget everything you know about markets ............start with clean slate , make Mark Douglas your virtual Guru , he is the best psychologist in the markets , surrender to him ,literally, i have recently read both the books , both are related to each other , if you find its boring to listen multiple times , then stop your dreams about being in the markets . you have to make very very profound changes in your thinking and beliefs to be a successful trader ..............are you upto it? are you willing to change ? the answer will decide your future in the markets
What I think about markets?
like a typical newbie I tremendously underestimated the work needed to succeed in markets at the start!
My thought about market has been constantly evolving and I have been maintaining a journal.
Here is a small snippet from my journal each line is a separate topic on its own...
Code:
Support and Resistance is enough!
Discovering hedging and optionality
Orderflow and time compression
Expectation and buying hay stack
Spikology - how options price moves in spikes
Traps of early entry trades
Big R trades during expiration & big news days
Understanding Position Sizing
Understanding Scenario planning and failing it to follow only 1% of time.
Position Sizing Aha: We need huge chunk of money in RESERVE mode (75%)
Understanding Streaks/Drawdowns and diversification effects on them
Understanding Forced Liquidation
Understanding Anticipation
Understanding the power of small position sizing
Understanding Parrondos Paradox
Understanding 'Focusing matters'
Keeping track of mistakes in Ri am a lazy person and a very lazy writer , i tried to write journals but i couldnt , its just not my personality to write maybe but writing is good , the best traders do write journals do not stop writing , i may not even understand 90% of what you may have written , but i think your basic understanding of the markets is flawed , in the sense that you think markets are manipulated , why would you be in a markets when you know that its manipulated ?
why would you go to a restaurant which is unpredictable in the quality of the food it serves ??
why would you go on a bridge which has cracks in its walls and you have a belief that it may collapse anytime ?
