luck based trading

anildnr

Well-Known Member
don't spend too much..
give a pause..
limit daily loss to 1% of your capital(most important)
learn options trading
don't trade with more than 1 lot till 6 months...
give full undisturbed time to market and keep learning..
don't get exited..
every trade is independent...

these are my learnings...
I like ur learning..limiting daily loss to 1% of my capital. Even I need to learn
 

bashasm

Active Member
Famous operator Jesse Livermore recovered many times after losing his fortune only to remain bankrupt at the end. The speed at which you have recovered your losses in the past means there was heavy risk involved which could have largely increased your loss. Such big ups and downs raise havoc in our minds. Main aim should be to acquire knowledge which gives peace, calmness and stability in our trading. Result is a byproduct of these emotions.
Every individual is unique, we can't compare one with another
Also, livermore had hell lot of personal problems with family.
 

SarangSood

Well-Known Member
Every individual is unique, we can't compare one with another
Also, livermore had hell lot of personal problems with family.
People are unique but situations can be similar. I didn't compare anyone, just honestly tried to give an example to help a fellow trader from learning from someone's mistakes. Also personal problems are directly related to work related issues and vice versa. This is specifically true for a psycological work like trading.
 

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