Path to Consistency

Vipul_84

Well-Known Member
#71
Yes Tuna. Over-leveraged Position size is greatest threat. Many times I found myself in DEER IN HEADLIGHT syndrome only to discover that position size was wrong. Wrong trades are part of our life. But with each wrong trade, we should not loose more than 1R. But if position size is violated then EMOTIONS outdo us and we start hoping, praying and expecting REVERSAL and trend just goes on & on and we keep watching our losses mounting helplessly. Then comes HITTING FLOOR Syndrome and we cant take our loss anymore and thus come out AT ANY COST, again providing the juicy WRB for trend follower or the one who traded it right.

Guess, I owe some clarification - >

What I meant by that - your "post" nailed the concept of trading successfully and profitably, did not imply you nailed it (though I am sure you are very profitable)

About me on same topic (Handling Emotion) - long way to go, my posts normally shows my emotion clearly, but the entry and exit (except few) are normally my target driven (Z Factor) - and my trade size never goes through the roof even if I have enough margins. I hate extra leverage. That's cools it off for me substantially. Yes, have learnt this the hard way.

This how exactly I had learnt it. In fact I am doing a replay of same on side trades just show this is possible (on my Nifty 2017 trade)
 

vijkris

Learner and Follower
#72
For getting to the path of consistency ,you should have a plan and it should answer following questions



What you will do if your trading computer, internet connection, broker, power, telephone
etc. fails

What you will do if you are unable to trade ?
So what does this sentence mean ?
Unable to trade in what situation? Did u mean accidents/fracture etc. ?

If yes then wat is the answer pls.. What plan should be made if someone is unable to trade due to unforeseen issues. ?
 

mohan.sic

Well-Known Member
#73
Its not just food business, the reference here is small scale vs large.
Why did you miss the soap factory/clinic? :D:D

I second ST Sir, wait for the thread to unfold.
bro, i dont know that i need to mention everything to make you understand the point. :D on comparing trading to other business.

And what about compounding part i said.. hope its clear to you :)
 

Vipul_84

Well-Known Member
#74
Tuna, your posts are perfectly in line with thread title. Please write more ....
Guess, I owe some clarification - >

What I meant by that - your "post" nailed the concept of trading successfully and profitably, did not imply you nailed it (though I am sure you are very profitable)

About me on same topic (Handling Emotion) - long way to go, my posts normally shows my emotion clearly, but the entry and exit (except few) are normally my target driven (Z Factor) - and my trade size never goes through the roof even if I have enough margins. I hate extra leverage. That's cools it off for me substantially. Yes, have learnt this the hard way.

This how exactly I had learnt it. In fact I am doing a replay of same on side trades just show this is possible (on my Nifty 2017 trade)
Spoiler alert noted. in Listener mode now.
 
#75
Michael Marcus, a legendary trader of Commodities Corporation has said that during his days of Commodities Corporation,there were many brilliant traders who were trading well but they self destructed themselves because of excessive leverage.When asked how much exposure these traders should have his answer was "bring it down to the sleep level..."meaning a level where one can sleep well...and that level is 50% or 35 % of the leverage at which these traders were trading...

Smart_trade
 

Tuna

Listen and act, don't ask it, it doesn't oblige
#77
Michael Marcus, a legendary trader of Commodities Corporation has said that during his days of Commodities Corporation,there were many brilliant traders who were trading well but they self destructed themselves because of excessive leverage.When asked how much exposure these traders should have his answer was "bring it down to the sleep level..."meaning a level where one can sleep well...and that level is 50% or 35 % of the leverage at which these traders were trading...



Smart_trade


I guess , there is no further clarification required after this thread. Loves the phrase 'Sleep Level' - wonderful.


Sent from my iPhone using Tapatalk
 
#78
I can't make consistent profit by using others trading strategy.even if it is great trading strategy(pivot trading,2ma)

But I can make money consistently by my own strategy.

So my opinion pls make own strategy.use it.it will give profit consistently.don't adopt others trading strategy.

Our own idea and own strategy give great satisfaction in trading.



Davincy
 

suri112000

Well-Known Member
#80
I can't make consistent profit by using others trading strategy.even if it is great trading strategy(pivot trading,2ma)

But I can make money consistently by my own strategy.

So my opinion pls make own strategy.use it.it will give profit consistently.don't adopt others trading strategy.

Our own idea and own strategy give great satisfaction in trading.



Davincy
Makes sense:thumb:

Lot of strategies talk about fibonacci levels which I could never able to understand and implement.

Finally made out my own strategy and able to make some money.:D
 

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