Need advice from seniors: Should i stay off market after this loss? Really?

[Smart_trade]

Hi time pass, did seniors also tell the strategy of how can we profitable 70% in days 80% in weeks and 100% in months? If yes then please paste the link to that thread.

The strategies are many.There are many discussed in our forum also...you look around and see if you can find one which suits you.Again a profitable strategy for a trader A ,trader B may not be profitable trading the same strategy so it depends on trader also.

But there are few in our own forum who are profitable for months togather.I know a few who are Zerodha 60 days challenge winners for 12-13 times consecutively which means almost 3 years of no loosing months .Winning a 60 days challenge atleast proves that they made profits during that timeframe.

Smart_trade

 

[MSN1979]

The strategies are many.There are many discussed in our forum also...you look around and see if you can find one which suits you.Again a profitable strategy for a trader A ,trader B may not be profitable so it depends on trader also.

But there are few in our own forum who are profitable for months togather.I know a few who are Zerodha 60 days challenge winners for 12-13 times consecutively which means almost 3 years of no loosing months .Winning a 60 days challenge atleast proves that they made profits during that timeframe.

Smart_trade

thank you St da. yes everyone keeps saying that, my point is what strategy they used to win 60 days challenge. please share.

 

[MSN1979]

I am very new to trading and my experience is not even 0.01 % of the experience some members have here
All the threads I have read, I could not find a single thread which assures 100% winning trades. If somebody says he can win 70% of trades day after day every day and 100% month after month every month. They must be trillionaires by now.

 

[Smart_trade]

thank you St da. yes everyone keeps saying that, my point is what strategy they used to win 60 days challenge. please share.

A good trader will always have min 3-4 strategies which he trades at various time and succeeds with every strategy.....not only that but they can trade options in few months, daytrade in few months and position trade in few months.Most of them have simple strategies which are known to every one but the way they trade makes them profitable.Many have shared their strategies here .Pivots,moving averages,support/ resistances,Market and volume profiles....so many of them.But no good trader will come here,spoon feed his method to others and also break his head answering questions that why XYZ are not profitable trading the same....that extra mile the trader has to walk himself.....


Smart_trade

 

[Smart_trade]

I am very new to trading and my experience is not even 0.01 % of the experience some members have here
All the threads I have read, I could not find a single thread which assures 100% winning trades. If somebody says he can win 70% of trades day after day every day and 100% month after month every month. They must be trillionaires by now.

You have not understood ....100 % months profitable and 100 % trades profitable are different things....no one can get 100 % trades profitable but 95-100 % months profitable ( net of amount won on winning trades less amount lost on losing trades ) can be achieved...atleast we try our best to achieve that.....if we start playing the game with “ no strategy is profitable,no one can make money.......” then we have lost the game before playing.....

Smart_trade

 

[MSN1979]

A good trader will always have min 3-4 strategies which he trades at various time and succeeds with every strategy.....not only that but they can trade options in few months, daytrade in few months and position trade in few months.Most of them have simple strategies which are known to every one but the way they trade makes them profitable.Many have shared their strategies here .Pivots,moving averages,support/ resistances,Market and volume profiles....so many of them.But no good trader will come here,spoon feed his method to others and also break his head answering questions that why XYZ are not profitable trading the same....that extra mile the trader has to walk himself.....

Why others,I have an account in Zerodha where I won 60 days challenge for 11 or 12 times and I traded different strategies in many months.options,futures,daytrade etc...I don’t have any special secret strategies which are not shared elsewhere.

Last para of this post will be deleted .No need to prove anything ....

Smart_trade

ST da you don't have to prove anything to anyone, we all respect you. What you said makes sense. Maybe I am too far from that stage yet to understand that part. No matter what strategy I have tried it has been personally impossible for me to be profitable in all.

 

[MSN1979]

You have not understood ....100 % months profitable and 100 % trades profitable are different things....no one can get 100 % trades profitable but 95-100 % months profitable ( net of amount won on winning trades less amount lost on losing trades ) can be achieved...atleast we try our best to achieve that.....if we start playing the game with “ no strategy is profitable,no one can make money.......” then we have lost the game before playing.....

Smart_trade

I understand what you mean, but any strategy that I have tried yet gives me 30- 40% winning trades which cover up for remaining 60% loosing trades + leave me a little profit. Somedays it takes all. Anyway I don't want to be a troll. Thanx for explaining. I will try to get better. Thanx once again

 

[Smart_trade]

ST da you don't have to prove anything to anyone, we all respect you. What you said makes sense. Maybe I am too far from that stage yet to understand that part. No matter what strategy I have tried it has been personally impossible for me to be profitable in all.

Keep trying seriously....I am sure you will find your groove soon....

Smart_trade

 

[Pradeep Narayan]

@MSN1979
Trading is more of self discovery. You will have to try out all options/strategies available to find what really suits your temperament. I don't trade on smaller TF charts, but my intraday trades are based on 1/2 Hr charts. I don't trade options and futures, only EQ. All this took me 5 yrs to discover!
As you mature, you will realize that simple strategies - MA, Pivots & RSI- will be sufficient to make money. Information you gather on money management & trade management will all fall in place like a big Jig-Saw puzzle.
At that moment you will realize that all what we have said in this forum makes sense- a whole different sense!
Then you would have discovered your own winning strategy. A trader is born!

 

[intellibitz]

Dear Seniors,

Need help.

I am a day trader, and should say, relatively good at it. I had been in continuous profit for 3 consecutive weeks.

Last time i traded, when i was off-sick, suffering from food-poisoning and entered a wrong trade, and went for a huge loss which i also posted in tradingqna of zerodha.

After this, loss same day, i touched god, and promised, that unless i have more than thrice the amount in my bank, i won't trade but this mean, i would be out of stock market, at least for more than a year !!

Now, when i am not trading for the last couple of days, i am re-thinking if the decision to not trade this long, is good or not? Kindly advice.

Pros (if i don't trade before a year):
1) I would have gained financial stability being off-market recovering the loss.
2) I can use this time to learn more about stock market, and trading techniques.
3) I can paper-trade, instead of putting real money to back test my strategies, and possibly coming with a better one.
4) I can have a good work-life balance and concentrate on my main job.

Cons (if i trade now without a gap of 1 year):
1) I have traded each and every day, without single day gap for last 6 months, staying away from market seems real-real tough
2) I may lose practice of trading.
3) Coming back after a year gap, may need again, starting somewhere from scratch (at least psychologically, after this big gap).
4) Sounds funny, but my curiosity of learning trading decreased a lot, when i was on a consecutive days of profit, (mentally i somewhere had, why to learn, when i am already getting what i need - money), even i stopped pre-planning trades, the day before !!
5) I might lose again (though less chance) and this will be a big set back, though i won't make the mistake of averaging again, which led to this huge loss.

I am sure, you all must have gone through this phase, being here much longer, so kindly suggest, what is the best way out? Should i break my promise, and re-enter market before a year?

Thanks in advance.

[This post is edited by Traderji to remove url as per the request from the member.]

The more you lose, the more you learn.. remember that the market knows how to beat you from day 1, but you don't. Good news is, you will figure it out someday.. until then...