$$my success story and my live tread[nifty&option]$$
- Thread starter sumitdasjoshi
- Start date
- Tags daily income live trade niftyoption profit loss system
To know if a system is profitable or not i use the following formula by Van .K.Tharp as described in his book" trade your way to financial freedom"(which i consider a must read for all traders)....(average win*%win)-(average loss*%loss)/total number of trades,you will need at least 20 samples(trades),if you get a negative figure,it means your system will give you negative returns in the long run,the parameters are as follows .40 and above-Average system,.60 and above-Good system,.80 and above -The holy Grail.....
Hi Guys,
I'm one of those newbies into trading and am a greenhorn for sure. However did some reading, did some paper trading and recently started trading. Currently doing day trading in equities. i've read all your previous comments and am curious about a few things.
1. By 'System' you mean your own personal method of trading that you developed based on your experiences or some kind of pre-prescribed method
2. Since I am in the process of developing my own system i couls use some advice so as not to reinvent the wheel. How does one recognise signals for entry/exit.( I did try the technical analysis but found that the technical analysis is following the market and not predicitng(most of the times). i found the same with the predictions of all the so called experts on TV)
3. If so what do you people do?
4. Most of the time I am making some money in the early part of the day but eventually am ending up losing more than the win.Is it because the market is turbulent for most part of last two months or is it that I'm screwing it up?I' ve started trading may be about a month now and I had lost about 20% of my capital. I started with a small amount though only to establish my winning ratio and methods.
Pls advice. Thanks in Adv
Bhoomy
I'm one of those newbies into trading and am a greenhorn for sure. However did some reading, did some paper trading and recently started trading. Currently doing day trading in equities. i've read all your previous comments and am curious about a few things.
1. By 'System' you mean your own personal method of trading that you developed based on your experiences or some kind of pre-prescribed method
2. Since I am in the process of developing my own system i couls use some advice so as not to reinvent the wheel. How does one recognise signals for entry/exit.( I did try the technical analysis but found that the technical analysis is following the market and not predicitng(most of the times). i found the same with the predictions of all the so called experts on TV)
3. If so what do you people do?
4. Most of the time I am making some money in the early part of the day but eventually am ending up losing more than the win.Is it because the market is turbulent for most part of last two months or is it that I'm screwing it up?I' ve started trading may be about a month now and I had lost about 20% of my capital. I started with a small amount though only to establish my winning ratio and methods.
Pls advice. Thanks in Adv
Bhoomy
Hi Bhoomy
We all have been once in our live newbies in trading. So, never mind about that. I have read your post and I ask you :
What kind of answers do you expect by asking your questions ? Would it be possible for you, to post this answers ?
Do not miss understand my questions. My questions have nothing to do with any personal valuation of your post. I hope, you get this point.
There is a reason, why you ask such questions and the answers may already are given in your head by what you expect what kind of answers you are searching for.
We can ask questions, we really do not have an answer for it, so we search for new knowledge. That is one way.
We can ask questions, we expect a certain answer for it, as we want to have a proof for it. That is the second way.
And the third reason can be : We ask a question and we know the answer for it, but not for sure as we never had the courage to test it by our selfs.
If we always ask our self this three little questions before posting any questions, we always should know, why we ask any questions. Having this answers in our heads, we may find other ways to get specific answers to what we are searching for.
Sorry Sumitdasjoshi to make this little excursion here, as I think it is very important to recognize, that systems are not the key to success in trading.
To many times new traders value systems as the key to success, because they never traded any. Success is in our head and not in the system. There can be systems to bring our minds on a successful path, but also this will be only a system until it fails. Understanding and accepting, that there is nothing perfect in trading and every thing is in a permanent flow with no guaranty of any thing, that is probably one of the best ways to go into the trading game. Probably, as also this statement is in a flow of never stopping learning new things day by day in trading.
DanPickUp
We all have been once in our live newbies in trading. So, never mind about that. I have read your post and I ask you :
What kind of answers do you expect by asking your questions ? Would it be possible for you, to post this answers ?
Do not miss understand my questions. My questions have nothing to do with any personal valuation of your post. I hope, you get this point.
There is a reason, why you ask such questions and the answers may already are given in your head by what you expect what kind of answers you are searching for.
We can ask questions, we really do not have an answer for it, so we search for new knowledge. That is one way.
We can ask questions, we expect a certain answer for it, as we want to have a proof for it. That is the second way.
And the third reason can be : We ask a question and we know the answer for it, but not for sure as we never had the courage to test it by our selfs.
If we always ask our self this three little questions before posting any questions, we always should know, why we ask any questions. Having this answers in our heads, we may find other ways to get specific answers to what we are searching for.
Sorry Sumitdasjoshi to make this little excursion here, as I think it is very important to recognize, that systems are not the key to success in trading.
To many times new traders value systems as the key to success, because they never traded any. Success is in our head and not in the system. There can be systems to bring our minds on a successful path, but also this will be only a system until it fails. Understanding and accepting, that there is nothing perfect in trading and every thing is in a permanent flow with no guaranty of any thing, that is probably one of the best ways to go into the trading game. Probably, as also this statement is in a flow of never stopping learning new things day by day in trading.
DanPickUp
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