My trades based on "new way of pivot trading" and vwap
maybe u ll find answers here. : http://www.traderji.com/general-trading-investing-chat/96368-general-trading-chat-new-post.html
for strategies u can see here : http://www.traderji.com/technical-analysis/95375-index-analysis-nifty-bank-nifty.html
or here http://www.traderji.com/technical-analysis/93165-learning-catch-high-probability-breakouts.html
for strategies u can see here : http://www.traderji.com/technical-analysis/95375-index-analysis-nifty-bank-nifty.html
or here http://www.traderji.com/technical-analysis/93165-learning-catch-high-probability-breakouts.html
Dear All,
My thoughts on trading psychology:
1) Trading is like going on a mission as a soldier. Everyone knows what to do, but no one can give you experience of real battlefield. Even if you practice and practice hard, your beautiful mind still knows its practice and you have nothing to lose. Only in real battlefield, great soldiers can be separated from good ones. You might have greatest of the plans but still its of no use unless you are well prepared for any kind of situation. So, what to do? well, throw your emotions out of window. Just work as per protocol and that's it. Don't care about loss or gain. If you have a SL, then it means you are already prepared to take that loss, then what are you afraid of? I can only say that any good system can yield money over a period of time if you have below rules and follow them strictly:
1) Risk reward ratio: It should NOT be greater than 1:1 in any case.
2) Position sizing: Adjust your qty according to your SL and risk appetite. Never put at stake more than 1% of your trading capital.
3) Control Uday: Never jump into the bus before knowing where it is heading. You can catch another one a little later. So, if you think zindagi na milegi dobara then you are right, but trade dobara zaroor milega. So, if your system doesn't allow then don't jump into the trade.
4) Always put SL when you open a trade: Markets know no respect and they have no rules. Trading is very volatile and especially commodities can fluctuate in worst possible ways. So, always put your SL just after placing the trade and yes I am talking about SL-M.
5) Book your profit as per your pre decided strategy, if your strategy suggest putting TSL, do so.
6) Book your loss once SL hit.
7) Remember this is not a war: Market is not our enemy, its just a gold mine. Don't try to get into revenge trades if your SL gets hit. Wait patiently and again look for fresh opportunities. You just need to find where gold is and you have all the time in the world to do that.
8) Accept your defeat: Every day is not a good day. If your SL gets hit twice, just stop trading. This is not the favourable market for your strategy and so just come back tomorrow with a fresh mind. Remember, preserving your capital is more important than making more money.
9) Trading is like batting first in a T20 match: Remember, there are 20 days in a month and every day has 6 hours.
. Now, you need to set a target which is good as per the pitch ( Market conditions). Setting a target like 4% or 5% per week or 1% per day is no good. It may put you under unnecessary pressure. You just need to have 3-4 good overs and they will come if you dont bat under pressure or in other words not lose your wickets. So, keeping wickets in hand is very important or preserving your capital is very important.
I have deliberately given only 9 rules, you can add one for yourself what you think I have missed and here are your "Ten commandments of trading"
My thoughts on trading psychology:
1) Trading is like going on a mission as a soldier. Everyone knows what to do, but no one can give you experience of real battlefield. Even if you practice and practice hard, your beautiful mind still knows its practice and you have nothing to lose. Only in real battlefield, great soldiers can be separated from good ones. You might have greatest of the plans but still its of no use unless you are well prepared for any kind of situation. So, what to do? well, throw your emotions out of window. Just work as per protocol and that's it. Don't care about loss or gain. If you have a SL, then it means you are already prepared to take that loss, then what are you afraid of? I can only say that any good system can yield money over a period of time if you have below rules and follow them strictly:
1) Risk reward ratio: It should NOT be greater than 1:1 in any case.
2) Position sizing: Adjust your qty according to your SL and risk appetite. Never put at stake more than 1% of your trading capital.
3) Control Uday: Never jump into the bus before knowing where it is heading. You can catch another one a little later. So, if you think zindagi na milegi dobara then you are right, but trade dobara zaroor milega. So, if your system doesn't allow then don't jump into the trade.
4) Always put SL when you open a trade: Markets know no respect and they have no rules. Trading is very volatile and especially commodities can fluctuate in worst possible ways. So, always put your SL just after placing the trade and yes I am talking about SL-M.
5) Book your profit as per your pre decided strategy, if your strategy suggest putting TSL, do so.
6) Book your loss once SL hit.
7) Remember this is not a war: Market is not our enemy, its just a gold mine. Don't try to get into revenge trades if your SL gets hit. Wait patiently and again look for fresh opportunities. You just need to find where gold is and you have all the time in the world to do that.
8) Accept your defeat: Every day is not a good day. If your SL gets hit twice, just stop trading. This is not the favourable market for your strategy and so just come back tomorrow with a fresh mind. Remember, preserving your capital is more important than making more money.
9) Trading is like batting first in a T20 match: Remember, there are 20 days in a month and every day has 6 hours.
. Now, you need to set a target which is good as per the pitch ( Market conditions). Setting a target like 4% or 5% per week or 1% per day is no good. It may put you under unnecessary pressure. You just need to have 3-4 good overs and they will come if you dont bat under pressure or in other words not lose your wickets. So, keeping wickets in hand is very important or preserving your capital is very important. I have deliberately given only 9 rules, you can add one for yourself what you think I have missed and here are your "Ten commandments of trading"
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As u trade 1TF,any guideline on trading 1TF Vijay Bhai?
I tried it and fail.Its very fast.It bounces very rapidly
I tried it and fail.Its very fast.It bounces very rapidly
If yours is discretionary system then will suggest u to stick to 3/5 min. in 1 min lot of confusing signals.
mine is semi automatic, and I simply wait for arrows of my trading system, so lot of issues got solved.
BTW, I have observed that using Pi less time is taken to punch orders compared to nest.
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