Learning through blunders

newtrader101

Well-Known Member
#81
Crude with only sellers! 21:16, 13/11/18
View attachment 30562
After this period which ended at 21:16, it went on like this:

1542178875474.png


Don't know if it was a case of no sellers or exchange stopped trading temporarily, which seems to happen sometimes. (The orders stop moving and the tick too, have you noticed?)

Also, the lower limit of taking orders yesterday was 4131 for NOV futures (line in chart).
 

newtrader101

Well-Known Member
#82
Why Traders Have To Learn Trading Methodically
Our tool is our mind. Unfortunately this is a fluctuating tool, it is swayed by emotions and greed. It is never possible to always trade with a level head. It is inevitable that our weaknesses will surface one way or the other, and it will undo all the previous gains. The only way to prevent this is to make a habit of following all the rules of safe trading:
  • Risk Assessment
  • Stop loss
  • Limiting risk per trade and per day
  • Daily study
  • Daily logging of trades and maintaining records
  • Review of trades
  • Conducting trading as a business
You can say these rules protect traders from being ravaged by the fluctuations of their own minds.
As the ancient sayings go,
"Manah evah manushyanam karanam bandha mokshayoh" the mind alone is the cause of bondage and freedom

"Atmaivahyatmano bandhuh atmaiva ripuratmanah" One's friend and foe is himself.
 
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newtrader101

Well-Known Member
#84
Eventually, traders have to get used to their successes. Like driving becoming natural. Nobody feels elated that he/she successfully drove a car. Maybe the first few times. Still we have to keep a watch on the vehicle and our own mental and physical condition before driving. If we're not feeling fit, we don't drive, or do it at low speeds. Being fully aware of the consequences. We're also watchful of how we respond to family members'/ kids' / other drivers' behavior.
But only you'll know and understand these thought processes happening within you. Others, even your nearest and dearest ones, may have no idea of what you're going through.
 
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