luck based trading
- Thread starter moneymanager1980
- Start date
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.
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.
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
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
Last edited:
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
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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