Never give up in Life but it's good to give up in Trading..

[Riskyman]

@Raj354u, I have just one question for the moment... Did it ever occur to you that it might have been "just lack of good sleep"?

I have to wake up at 6 AM each day to send my kids to school. On those days that I havent had enough sleep of at least 9-10 hours in a day, I feel terrible and I just cannot focus on trading. Trading in the markets (or indulging in any other high brain activity) consumes a huge amount of energy. Therefore, you need to rest your system well by sleeping.

Just my 2 cents....


PS: There was a period when I sleeping only 5-6 hours due to over-partying and incidentally it was the most tough period for me in terms of trading. Eventually, I realized it was the lack of sleep that was making me extremely reckless.

 

[suri112000]

@suri112000
Dear are you sure this guy sterling is really a successful trader... if yes, ask him to share his ledger report
In market 50:50 win loss ratio is a myth... the correct ratio is 10:90 or maximum 20:80 win loss... now do the calculation if you will really make any money..
You can have accurate 100% win ratio if you don't use stoploss and hold positions until stocks eventually moves up and you sell higher.. you can do this only when you buy stocks and not shorting as buyers risk is limited but short sellers risk is unlimited...
Mark my words bro anybody who is a mentor doesn't makes any money from trading they earn from mentoring,selling books,tips,courses,software developers like meta stock,amibroker etc..and the list goes on but not trading..
I maybe sounding negative but that's the reality..Experience speaks

The question here is whether he is successful or not. As you said mentors are generally not traders. Even if they trade they do it just for exhibition purposes. We donot need it here.

The interesting part is about psychology. If you read the article carefully, every trader would have resembled that psyche especially when they made losses in initial stages with no proven strategy or bigger betting. The initial losses forces the trader to book quick profits and wait and wait in loosing trades and even force them to average loosing trades and finally books heavy losses. This spiral goes on forever. And the psyche is permanently damaged.

It is for this reason, I reproduced the article here, to caution traders not to cause irrepairable damage to their psyche without proper training and method.

If anybody is unlucky to get a good mentor, one should try with a minimum of capital say Rs.5000 and trade. This capital should run for atleast 2 to 3 years by probably making a trade of 1 qty and thus we can cross learning curve easily without loosing much of our money. This enables the traders to protect their money as well as their psyche.

 

[Raj354u]

@Riskyman
I have mentioned that in my earlier posts that maybe because my capital is small that might be the reason I am making losses as I was trading only with salary of 20k-30k so I took loan and traded full time..in those time I was not doing any job...only Trading and relaxing the entire day..but after blowing off the account in a year...I had no other option but to do job again..and I did this several times..
@suri112000
I did exactly the same for first 5-6 years trading ...instead of 5000 my capital was my salary of 20k-30k which I could afford to lose but what killed me is taking loans later on in my career as I thought it's the time to take some big plunge as I felt I am a professional now making consistent money but I was wrong...
@Trader987
I don't have any money now..I did make money with this strategy slowly & steadily for long time but again got attracted to leverage f&o as in this field you always feel you have got the secret now after thorough backtesting & this trading system should work thus was again lured to make some quick money and within few months lost everything again...Leverage is so addictive..it kills

 

[Pradeep Narayan]

Raju354u,
Can you provide your year-wise losses - maybe like Capital in Jan, Capital in Dec, Total Profit/Loss?

 

[timepass]

Raju354u,
Can you provide your year-wise losses - maybe like Capital in Jan, Capital in Dec, Total Profit/Loss?

Why, guys. He has given up, as he said. He is here just to share experiences.

 

[Pradeep Narayan]

TP, I wanted to know how long was his losing streaks and how long were the winning ones. More importantly how long he was topping up & where.

 

[Raj354u]

@Pradeep Narayan
Seems a lot of work..I have trading account with 10-12 brokers and l have always kept changing from one broker to another...don't want to get back in this field again..if you have any questions, please ask me

 

[Pradeep Narayan]

Raj354u, No questions... all the best for your future endeavors.

 

[Raj354u]

@Pradeep Narayan
My gut feel is you are using trend following approach..correct me if am wrong....you do make money for some time but when losing streaks come you lose everything ...even turtles have blown their account several times..no matter how much your risk per trade is...I have traded with even 0.5% risk per trade and blew account in a few years.

 

[Trader987]

@Pradeep Narayan
My gut feel is you are using trend following approach..correct me if am wrong....you do make money for some time but when losing streaks come you lose everything ...even turtles have blown their account several times..no matter how much your risk per trade is...I have traded with even 0.5% risk per trade and blew account in a few years.

@Raj354u
Do you know why this thing happens ?
Your view plz.