Need help to trade better and to trade RIGHT

#31
Trading stocks is an individual game and you do well at it if you have your own experience to base your trading decisions. It’s good to read about how others have been trading but you will get better only if you explore the market on your own. So, don’t worry about failing.
 
#33
I would say take your time to learn and develop your skills. No need to put a time constraint as that limits your progress. All the best and happy trading!
 
#34
To trade in the stock market, a trader or an investor should improve his trade management. It comes with experience and good material for study. Go through the best books on trader management and market psychology such as 'The disciplined trader', 'Unholy Grail', 'The new trading for the living'.
 
#35
Even though you've had a bad track record in the past, it's good to see that you aren't giving up and that you're still out here putting in the effort to improve and get better. I think that is what separates those that fail from those that succeed as traders.
 
#36
It’s good to aim big but it might come with a lot of hassle, stress, and losses. What is best is to have small, achievable goals that add up to a big goal, all in all. Focus on becoming consistent with your trades and profits so that you keep earning and motivating yourself.
 
#37
What matters the most is that you know what you are doing! Don’t be afraid of making losses but learn to accept them and see what was missing in your strategy that led to the loss.
 
#38
If you are not ready to improve yourself, nothing can help you improve. Setting a goal is good but setting unrealistic goals is what can cause a hassle in the long term. Always trade in accordance with what you can handle in terms of stress and expenses.
 
#39
A small introduction about me.

I was trading before on and off for few years and was never profitable. Mostly day trading, never felt okay with overnight holdings. Be it in cash segment or derivatives, almost always square off before the end of the day.

About a month back, my cousin asked if I could help him with trading. I said NO as my track record is not good, I am not someone you should get help from. Going by the online article, only 1% of the traders make money, you should try different investment / business option. He kept insisting and I am also doing some odd jobs and post corona things aren't good. In the end, I said okay and started trading few weeks back. I explained what kinda returns he can expect from this and everything I thought he should know before we started.

1st day wasn't good, in fact it was bad. It's me, responsible for the loss. Lost about 4% on the day one. :(

The idea is to make 40-50% per annum. Decided to trade low risk option strategies like spreads, but me been a day trader in the past, couldn't trade the spreads as it's supposed to be done. Short strangle/straddle scares the sh?t out of me cause of the unlimited downside. Long/short iron condor/butterfly doesn't look attractive (may be I am wrong), strangles/straddles though attractive they are most likely to lose in the long run. Don't know if I should stick with naked short/long in futures or even options and do intraday. Again I wasn't successful before, so why this time would be any different if I continue with day trading. Still wrestling whether I should do intraday or positional (though I wasn't keen on positional trading when I was trading in the past, I was profitable - may be the reason I am thinking about positional trading).
Okay. I am here to learn to trade better and more importantly to trade RIGHT this time. I am here to stay for atleast a year, if profitable (esp. achieved the target) longer than that. It's a long weekend. I will be here most part of the weekend, hoping to learn. :)
A small introduction about me.

I was trading before on and off for few years and was never profitable. Mostly day trading, never felt okay with overnight holdings. Be it in cash segment or derivatives, almost always square off before the end of the day.

About a month back, my cousin asked if I could help him with trading. I said NO as my track record is not good, I am not someone you should get help from. Going by the online article, only 1% of the traders make money, you should try different investment / business option. He kept insisting and I am also doing some odd jobs and post corona things aren't good. In the end, I said okay and started trading few weeks back. I explained what kinda returns he can expect from this and everything I thought he should know before we started.

1st day wasn't good, in fact it was bad. It's me, responsible for the loss. Lost about 4% on the day one. :(

The idea is to make 40-50% per annum. Decided to trade low risk option strategies like spreads, but me been a day trader in the past, couldn't trade the spreads as it's supposed to be done. Short strangle/straddle scares the sh?t out of me cause of the unlimited downside. Long/short iron condor/butterfly doesn't look attractive (may be I am wrong), strangles/straddles though attractive they are most likely to lose in the long run. Don't know if I should stick with naked short/long in futures or even options and do intraday. Again I wasn't successful before, so why this time would be any different if I continue with day trading. Still wrestling whether I should do intraday or positional (though I wasn't keen on positional trading when I was trading in the past, I was profitable - may be the reason I am thinking about positional trading).

Okay. I am here to learn to trade better and more importantly to trade RIGHT this time. I am here to stay for atleast a year, if profitable (esp. achieved the target) longer than that. It's a long weekend. I will be here most part of the weekend, hoping to learn. :)
Trading is like an art , you need to be an artist to become a profitable trader. Your expectations should be realistic of earnings from stock market . It will continuously keep playing with your mindset . Stock Market sometimes become shock market. Profits and losses are the part of this game. Learn to increase the probabilities of profit . Don't be in a hurry to sit in this running train . Give yourself enough time to learn more and more about trading and stock market . Wish you a good luck for your journey to be a trader.
 
#40
I appreciate your determination. But I think you need to start working on your skills again, and you need to start small before you start trading with big amounts.
 

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