My System - My trades.

[varunkochhar]

Princy ji i am a self taught man as far as the markets are concerned. I have not read too many books on Technical analysis nor have seen many trading method videos on You tube.
I prefer watching movies and reading fiction in my spare time.

 

[princy01]

Princy ji i am a self taught man as far as the markets are concerned. I have not read too many books on Technical analysis nor have seen many trading method videos on You tube.
I prefer watching movies and reading fiction in my spare time.

Watching videos or reading books is not that bad varun bhai gives perspective for something new

I am a self taught trader too, took too much time to understand the winner style, lost many years in learning and losing

 

[lemondew]

Good one. Its tuff to cut the losses short. Tougher to hold the profits.

The words of the Gambler by Kenny Rogers "You don't count your money, when you are sitting at the table, there will be time enough to count it, when the game is done." I would like to share my experience with these words of wisdom. I have seen many people use the term 1R 2R...10R etc. Does it have any relevance to ones trades. It just inflates one ego and in fact is an impediment to growth. It is akin to having a mental barrier. Look up any post of ST ji and you would find the saying "While amateurs go broke by taking large losses,professionals go broke by taking small profits" at the bottom. You are selling yourself short when always calculating R's because at the back of ones mind while doing so is a very safe attitude. Your trades are curtailed by always looking up this number. So you get satisfied by such nos. as 1R 2R... instead of scoring a home run when the market gives you an opportunity. Case in point is, how many of you were able to catch even 50% of the monster move in crude (more than a 100point) after 9:00 today. I for one concede that though i was wrong in my initial bias as posted on Tuna ji's post. I Netted 15points in long followed by 70 points in short. I am not highlighting my trade, just my attitude towards a trade. Do not sell yourself short. I have often said in this thread that the market is trending only 20% of the times. Why put a cap on your winnings during such times. One should have discipline in ones trades to get out only when stopped out or coming out of the trade when the reason for being in the trade is no longer there. Once you have done the hard work of identifying the set up and initiating the trade, it should be criminal to exit without consummating.(Could not find a more appropriate word).

 

[varunkochhar]

Watching videos or reading books is not that bad varun bhai gives perspective for something new

I am a self taught trader too, took too much time to understand the winner style, lost many years in learning and losing

I never said that reading books or watching videos is not good. I do not do so because it confuses me and clouds my judgement. I would rather take my trades based on pure price and volumes which can be interpreted directly from charts.

 

[princy01]

I never said that reading books or watching videos is not good. I do not do so because it confuses me and clouds my judgement. I would rather take my trades based on pure price and volumes which can be interpreted directly from charts.

but bhai books and videos are not to take trades its to gain new perspective and knowledge , to get hold of new ideas and include them in your trading

trades are always taken on charts and your understanding of price and volume

 

[checkmate7]

Guys in Kite it is showing huge drop in volume is it correct or some false data at 11:30 in NF ???

 

[varunkochhar]

Princy ji you are not getting my point. Let me sum it for you one last time.
"Too much analysis leads to action paralysis." I would only look for a better system or method when my method is not serving me well. I would not like to change my method just because it is cool to do so. Satisafaction is a very rarely used and underrated term in trading. One should only strive to achieve that.

 

[varunkochhar]

Guys in Kite it is showing huge drop in volume is it correct or some false data at 11:30 in NF ???

Checkmate ji no weakness seen in Nifty tick charts as of now till the just recently made lows are held.

 

[vagar11]

Just trying out my hand at tick charts. This is a 1000 tick chart of BN. The uptrends and down trends appear to be very clear, clean and well defined. (No Noise)

Can someone explain what does 1000 tick chart means.

I heard people plot bars with constant volume instead of regular 3 min, 5min. Is it something like that.

 

[checkmate7]

Varunji whats your view regarding Tatasteel still do you think it would go to 500-510 during next month??? Also as per your experience does this LV bar works in stocks too??