hi ashu, you are right, but if i also get 10% a month consistently then my goal is achieved. again i will tell you that i have also gone through harsh realities of trading live with my own money and made loss in all segments.
These are phases through which all traders go through, and each phase brings in its own share of losses. Everybody goes through the same grind. You are no exception. The cycle starts with "Lets start minting" , graduating to "Aah, its not easy ..maybe i need some good indicator", and then to "Why the heck is the market always conspiring against me" , and for the majority it culminates to "Dah! i give up, cant win against the big players!".
my goal in starting this thread is whether there are Ravi's students who are trading successfully so that they can vouch for him or Ravi might be another Teacher who teaches and does not practice it.
So one fine day, you would wake up and realize Trading is not about learning a system. Its not about which indicators work best. It always has been about Continually Be Jumping Off the Cliffs and Developing your Wings on the Way Down. Maybe today you feel hurt reading this as you really hoped for a quick way out. But some day in future, you might understand what i write here.
... so my idea is if i get a good methodology then why not try? but i want to investigate all details before taking course so that i can save money if he turns out like others.
You would often hear some of the veterans say this "No one can teach you to trade". Sometime adding "You can only observe how they do it, their tools, their money management, their Trading plans". But if YOU need to improve YOUR running, YOU need to move YOUR feet.
"Professionals are professionals because they have spent considerable time honing the skills over long period stretching in years". Understand this. Repeat this over and over until you understand what it implies.
so i request members to come out and share your experiences.
Sure. I Assume you understand the basics since you have had your share of losses in all segments. I also assume you are not a fundamentalist but rather you watch technical charts.
I will suggest you start small. Pick a Market. Pick a instrument. Analyze this instrument every day WITHOUT any indicators. You will do it for 3-4 days. It would not make any sense to you. You would feel bored and wander around trading portals reading peoples commentary about new signals or maybe you want to know peoples comments on your instrument. Be it so. Go and grab a movie titled "Karate Kid". Come back and start watching your instrument again. Grab screen capture tools of your charts in real time market hours (Print Screen or any tool that records your screen activity in Video format). Now start making note of what you saw in the screen capture (or video capture of your charts).
Now you do not feel bored. But you can NOT make sense of what is going on.
But this time you stick around a bit more (maybe 10 days). Make extensive notes of turning points but dont assume "WHY?". Chill out for a couple of days. Take a break. You cant resist the urge to go online and see if anyone had come up with a golden indicator/system.
Once back, Continue your observation of your instrument. Make notes of days when the instrument had high/low volatility along with turning points (changed directions). In this stage you are ready to ask the "WHY?" question. Make notes on important event that occurred before and after the turning points. This time around you stick a bit more, maybe a month or two. Take a break, party around. You now will be less inclined towards finding the silver bullet. But would continue peeking around the indicators section --- Just in case.
Resume your observation.
Now add to your notes interesting things you see on your charts (the things you missed when you started out).
When you see change in volatility (you did in phase I), observe events pre and post change in price direction (you did in phase II), now you would be in a position to see things a bit differently than a novice ... you would see things like Gaps, wide area bars, high volume's ... correlate this to areas you have marked as turning points.
Being a human, you would try to find consistencies and relate of this together. Trying to find a pattern.
It would not make sense to you ..... why do this pattern not have winning consistencies.
Maybe you would ask me "How long will this phase last?" .... i do not know. For me it took years. But the good thing is, now you would have come to a stage where you no longer seek a system/indicator/tutor. You seek a mentor.
Now you no longer seek a break. The market interest you. However, You still do not find consistency in the way markets are behaving. You are not able to find a pattern that you can trade with.
No worries.
Add one more instrument to your observation. Keep on noting days when stock had high/low volatility. Note down turning points. Note down events pre and post your turning points. NOW compare and correlate what you have been seeing as most likely action that the instrument takes under this situation's. Continue this .. record as much as possible. Note as much thought as you can.
And sometime during this phase, you will know its time to prepare a trading plan. A Plan which is more than a trading system. And this will mark another journey for you. Since at this point , you would know that trading is all about understanding the price action, understanding change in demand/supply. Understanding that market dont give a damn to your rationale. They behave irrationally. Understanding that losses are part of game.
I understand this might not be what you wanted to hear. But i would be doing you a disservice if i told you otherwise.