luck based trading

after the loss of 8 lakhs in first two years slowly my confidence shaken . but became as addict. still the addiction drives me .whether profit or loss. i guess .. except few almost all traders in loss. then why we all continue to do this ? by 5 th year my loss almost crossed 20 lakhs ..
Seems like this is me writing this when I think I am asleep. I am wondering if this is me or someone else. Need to make video of me sleeping and check if this is really me.;););)
 
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Seems like this is me writing this when I think I am asleep. I am wondering if this is me or someone else. Need to make video of me sleeping and check if this really me.;););)
hahah .. u r comments remind me the funny video of nithayandha .. who said me worshiping me ... check google to enjoy that video ..
 
It’s like looking myself in mirror, I definitely see what I am doing wrong by these posts but my learning is almost nothing. Don’t know if you are making it up, but this is the pattern I too have so I believe it’s true. If I start a similar thread, I can just copy these posts. I will bookmark this thread to keep re reading it.! Hope I mend my ways and start learning.
 

marimuthu13

Well-Known Member
It’s like looking myself in mirror, I definitely see what I am doing wrong by these posts but my learning is almost nothing. Don’t know if you are making it up, but this is the pattern I too have so I believe it’s true. If I start a similar thread, I can just copy these posts. I will bookmark this thread to keep re reading it.! Hope I mend my ways and start learning.
Not just you and him, count me too and more silent readers too...
 

TraderRavi

MM is the holy grail
Not just you and him, count me too and more silent readers too...
true , same for all of us who are not successful yet. Dont know about others but I keep repeating same mistakes over and over.
 

marimuthu13

Well-Known Member
true , same for all of us who are not successful yet. Dont know about others but I keep repeating same mistakes over and over.
Repeating mistakes ...yes ..thats why i strongly believe its something to do with personality or physiology....strong beliefs which are strongly formed during our early childhood days...
 

primitivetrader

Well-Known Member
here is the scenario...

1)as a trader if you know very objectively (like 2+2=4) the trend of the mkt or what even chart you are tracking.

2) very objectively align muti time frame trading... like know the eod trend objectively ---> finding the level of support on eod objectively drill it down to 15M to fine tune the support live....

3) mark the support level very objectively on 15M defining risk reward as per entry and sl and also tgts long before price coming to your level of support. for eg my entry is 100 isl 99.50 and my 1:1 is 100.50, 1:2 is 101, 1:3 is 101.50 etc

this is all set before the mkt open and you just need to punch your cover order @ 9:15 and wait for price to hit the entry.....

this is the process you have done and found 3-4 stocks out of let say nifty 50 daily and you have punched all the orders and wait for price to come to you level for a trade. NO MORE IN REACTIVE MODE YOU ARE NOW IN PROACTIVE MODE OF TRADING

my Q is how is your psychology now???????... there is strong possibility that majority of so called psychological issues (not saying it is not imp, but as imp as rest of the keys in trading) are in dustbin. you as trade, is more calm and in control of your trading and started enjoying it.

my personal experience and belief is that there is way too much emphasis on psychology in trading. i started my full time trading career in 2008. for a very long time i considered after rally of losses that trading psychology issue is there. but it was not, problem was at the core level... in method/system.

till the time we are not profitable consistently and having losses we start reading, analysis, watch, talking about it and finally come to the conclusion that crux of the matter is my trading psychology. there is high probability that issue is into your system/method and you are not focusing at the right place.

this is my personal experience you may be having very different exp.

below is an example of the above
 
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newtrader101

Well-Known Member
here is the scenario...

1)as a trader if you know very objectively (like 2+2=4) the trend of the mkt or what even chart you are tracking.

2) very objectively align muti time frame trading... like know the eod trend objectively ---> finding the level of support on eod objectively drill it down to 15M to fine tune the support live....

3) mark the support level very objectively on 15M defining risk reward as per entry and sl and also tgts long before price coming to your level of support. for eg my entry is 100 isl 99.50 and my 1:1 is 100.50, 1:2 is 101, 1:3 is 101.50 etc

this is all set before the mkt open and you just need to punch your cover order @ 9:15 and wait for price to hit the entry.....

this is the process you have done and found 3-4 stocks out of let say nifty 50 daily and you have punched all the orders and wait for price to come to you level for a trade. NO MORE IN REACTIVE MODE YOU ARE NOW IN PROACTIVE MODE OF TRADING

my Q is how is your psychology now???????... there is strong possibility that majority of so called psychological issues (not saying it is not imp, but as imp as rest of the keys in trading) are in dustbin. you as trade, is more calm and in control of your trading and started enjoying it.

my personal experience and belief is that there is way too much emphasis on psychology in trading. i started my full time trading career in 2008. for a very long time i considered after rally of losses that trading psychology issue is there. but it was not, problem was at the core level... in method/system.

till the time we are not profitable consistently and having losses we start reading, analysis, watch, talking about it and finally come to the conclusion that crux of the matter is my trading psychology. there is high probability that issue is into your system/method and you are not focusing at the right place.

this is my personal experience you may be having very different exp.

below is an example of the above
PT, many times the issue is that the trader has won a good amount for a day/week, but then becomes greedy/overconfident and gives back the profits through over trading.
 
true , same for all of us who are not successful yet. Dont know about others but I keep repeating same mistakes over and over.
I too keep repeating the mistakes, If I can learn not to trade like myself, I can be very profitable.!!!! easy to advice others on what not to do, but it’s difficult to follow it ourselves.
 

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