Need a mentor

The idea of creating and laboriously back testing a system is so that over a period of time, you can scale up quantity.

If my gains are going to be capped at 1000 qty, I am not interested, as because in such a scrip, when there is sudden news, I will be whipped so badly, that I will be scared to put the next trade.
 
The idea of creating and laboriously back testing a system is so that over a period of time, you can scale up quantity.

If my gains are going to be capped at 1000 qty, I am not interested, as because in such a scrip, when there is sudden news, I will be whipped so badly, that I will be scared to put the next trade.
Psychology will put paid to the system in such a case.
 

linkon7

Well-Known Member
altaf sir and linkon sir both r very well experienced person and respectable persons
a humble request to both of u to take a visit on my new thread in technical analysis section named serious mentored trading and suggest some for me
in ur free time plz.......
link:
http://www.traderji.com/technical-analysis/71620-serious-mentored-trading.html
There is very little to suggest...! You have so many helping hands to guide you.

Every trader has his own comfort zone and its a matter of time before he discovers a system that works for him. Ideally, it takes about 3 years for someone to come to terms with ones own ability and set the right expectations. Trading like any business, is not a get rich quickly scheme.

A lot of LUCK (Labour Under Correct Knowledge) is needed. A mentor can only guide u and help you discover your true abilities by focusing on the correct knowledge aspect of the learning process.
 

linkon7

Well-Known Member
George soros says- "It's not important how many times you are right or wrong, it more important how much you lose when you are wrong and how much money you make when you are right".

Take any trading legend from the past ,one thing you will be shocked to see they made their money by being right only 30-40 % of the time.
Only aspect of trading that is in our control is the risk per trade. When we initiate a trade, we never know if the trade will work. But when it does work, how we milk the cow makes a world of a difference. Ideally, a single good trade should wipe out losses of 3 bad trades.

Most successful systems i have seen rely on high RR to take care of the profitability part.
 

linkon7

Well-Known Member
Why do you feel that?

at 40 % win rate, I would not touch his system :)
Positional or intraday.
Plus, if you cant execuate 3000 to 5000 BNF without 20 points slippage, no use of looking into it also.

I know people who comfortable execute 10000 Nifty with a maximum of 2 rs impact cost, on most trades, if not all.
On the contrary, Ankits system is ideal for big volume players. It knows how to ride a good trade and take a good chunk of the trend. Its a SAR based system and is 100% mechanical, leaving no room for judgement on the part of the trader. Its almost an algo based trading mechanism, where law of average takes care of the profitability.

Its not a intraday system where one has to exit all his positions by 3.30 and is hard pressed for time. Intraday players cannot afford to trade a system with low strike rate. Intraday traders are basically pattern traders and normally dont trade SAR based system.

The idea of creating and laboriously back testing a system is so that over a period of time, you can scale up quantity.

If my gains are going to be capped at 1000 qty, I am not interested, as because in such a scrip, when there is sudden news, I will be whipped so badly, that I will be scared to put the next trade.


Backtesting is basically used to test the trade logic and how it handles a particular phase of the market. Results of a backtest are rarely duplicated in real life...!
 
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linkon7

Well-Known Member
till now i have been dong only discretionary trading,because of which sometimes i enter too early or sometimes i miss a trade totally, being an mechanical system guru, i am asking this to you, i am looking for a system with the highest RR ratio, may be even upto 1-5 or may be more, and entry after breakout from a consolidation phase. But it should be able to catch big moves and not give exit signals on small retracements.
can you help me shift to a mechanical system like this?

I cannot help you shift to a mechanical system, since i don't know your mindset. You have your own comfort zone and have to develop something that you feel you can trade without applying your brains.

In any mechanical system, the strike rate drops badly, if we concentrate on the RR and likewise, the RR suffers if we optimize for higher strike rate. If u want 5 RR, then will u be happy to trade a system where 1 out of 5 trade is a winner. Can u handle 8 losses in a row and still take the 9th trade with the same conviction and quantity...?
 
Hi Raghav sir,
i m visiting tj very recently. i have found no other way except posting in this thread. so a big apology if i am found anachronous. the best educational thread i have ever came accross is your 'My Datrading' which imbued some hope inside me after waterloo i faced in stock market. i have thoroughly read each and every word of the thread, though completed upto page no 55, so far. you were talking about mentor. na? its u to me. at least i think. i will be greatful if u dont mind giving me any of your communication thread such as contact or email id ,etc. please don dishearten me from taking mentorship from you.

best regards,
prasanta:)
 

DanPickUp

Well-Known Member
Hi Raghav sir,
i m visiting tj very recently. i have found no other way except posting in this thread. so a big apology if i am found anachronous. the best educational thread i have ever came accross is your 'My Datrading' which imbued some hope inside me after waterloo i faced in stock market. i have thoroughly read each and every word of the thread, though completed upto page no 55, so far. you were talking about mentor. na? its u to me. at least i think. i will be greatful if u dont mind giving me any of your communication thread such as contact or email id ,etc. please don dishearten me from taking mentorship from you.

best regards,
prasanta:)
Dear Needurheed

It really seems that you are on a stage you need help. But you not will get it hear as long as you wait of some body which is going to help you.

Bring up specific questions to your problems and surely some body is going to answer your question.

All the rest is just laziness and hopping once a day some body is going to show an answer to your problem.

Good trading

DanPickUp
 
hi Dan, i have never talked to you, but it seems i know all of u for long in the famous 'My Daytrading'. my heartiest respect to all of u (mentors n moderators). actually i am confused whether i should post any technical qn regarding topic discussed in that thread on this thread. please show me the way.

prasanta
 

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