Punter's Jounal

Ok, I'm creating this space to learn, unlearn, understand myself & my attitude, develop discipline, share thoughts and most importantly register trade logs. The benefit of public log, is that, it will be fetch help and guidance from experienced members when the going gets tough. I hope this thread will have some readers :D
Now, that I created a trading journal, am I ready to start trading?
1. I have a full time job which requires me to be in the office for nearly 10 hrs and I'm not willing to loose my job for my interest in trading, as I love my work and also love the occasional onsite opportunities that I get. So, I have to find some way to balance work and trade. I know this is going to be difficult, but I will find some way.

2. I have to setup the resources to trade.

So, it may take few weeks or month before I start posting my trading log, until then it will be some random musings, but eventually I will make this as my trading log.
When I say 'understand myself and my attitude', it means with respect to trading. I love to watch EOD 1 min chart, it's so expressive, but I really don't know if I can sit for hours in Live trading hours and watch every minute. I'm not comfortable with time frames more than 5 min and multiple time frames. So, I have to settle with one thing. Besides, this I've find whether I would be able to cope with the quickness of day trading. If not, I'll move to swing trading. But, for this I've to start trading intra day and find out.
To be honest I've resources for trading ready, I've a laptop, 3G datacard and an account with Zerodha. I just need to spend time to trade. But, I don't know if it's the fear of my past failure stopping me from trading :( I don't like paper trading. Anyway, I have to overcome this...
Now...to that discipline thing in my first post. I never had discipline in my entire life:annoyed: I never completed a task that I started and I never started a task that I did not complete earlier. I need to change this, because I believe to be a successful trader discipline is foremost. Good thing is, I realized this even before I started trading :thumb:
Just few questions to your thoughts.

What are the advantages,disadvantages of tracking multiple stocks,
and totally a different currency segment ?

What is there in currency to learn ?

Do you plan to trade all of them simultaneously ?

Will it help in making decisions to trade Nifty confidently ? or will add to the noise and more distraction ? or will help you to keep yourself more focused ?

Will it be possible to manage the all trades of them ?

Will you trade the stocks which that are trending with Nifty or case to case ?

If Nifty is moving up and currency is also moving up what will be your plan ?

Already you are having problems in placing orders.

Pls convince me in what way the above are going to help you.

Just few more questions ? - Pls answer them.

What where your problems while trading 5 minutes charts ?

1 M chart - 375 candles.
5M chart - 75 candles.
15M Chart - 25 candles.
60 M chart - 6 1/4 candles.

Why trading higher time frame alone - you are comfortable ?

What are the emotional short comings in trading lower time frames ?

What steps you have taken to over come this ?
(Remember traders are not born on a day - it requires practice practice - its a long journey).

Why one has to wait for trades ? Is it not possible to enter a trade and manage it at any point of the chart ?

Is anticipation good or bad ? or just follow the price ????

Assuming You have sufficient capital and you aim to capture 40 points a day trading Nifty options.ie. to make 2000 rs a day.

Pls choose the best answer below (Nothing is right or wrong).

1 Trade - 20 lots - 2 points a day.
1 Trade - 1lot- 40 points a day.Sit for the target.
2 Trades -4lots - 5 points a trade.(No scaling in - fixed).
4 Trades -2lots - 5 points a trade.(No scaling in - fixed).
1 Trade - 4 lots - with scaling - ie add position when in profit).
20 trades - 2 lots - 1 point a trade (Aughu bai style :D - I am referring to the trade size)

The initial success will tempt you to jump to multiple stocks,currencies,commodities etc pls stop refraining in doing so.

Is it not possible to make profits in Nifty alone if you are trading well than focusing multiple instruments. ?

If not have a mentor who can tell you when to go to the next step.

Just proove your success to yourself for say 100 trades or till double this capital and give the initial capital to your home.

When ever you make a very big profit in a trade be very careful and cautious.
Usually that will be turning point of markets in much speedier way in the opposite direction.

My humble suggestion once again - don't think of trading stocks,currencies etc for at least 6 months.Trade Nifty or Nifty options.Till you are successful and consistent with the results.Till you are consistent in following the process and treat profit and loss days alike.

Initial Trading success will give euphoria which deadliest enemy of a trader.

How successful traders counter their trading euphoria - a deadly enemy for a trader with.

My friend Swing King used give party to his traders on all loosing days and cheer up and enjoy.While on winning days nobody is allowed to cheer up in euphoria and no body is allowed to talk about the success.

Similarly Subhadeep Nandi a famous trader,SW vendor of charts and conduct paid trading sessions usually enters in bulk.Once the trade is successful and has made a good lot of money say (2-3 lakhs).Will stop trading for the next 3 to 4 days.

Pls Note : - - Take a second opinion from DAN,ST.
mmm....I guess I'm finding lot of answers in these questions....so posting in my first page, so that I can see it often :D
Well, I haven't traded anything last week, for that matter I haven't traded anything for the last 1 year. Next 2 days are day off for me and I'm thinking to trade after a long time :clap:
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