Reminiscences of a Rookie Trader

#1
Hi Everyone,

Inspired by quite a few on this forum like augubhai/traderravi/softtrader I have

also decided to maintain my Trading Diary in my quest to become a successful

trader....I have a decent exposure to the Stock Markets .....Right now I have no

thing to do except trading full time ....I would feel good if I can inspire a few to

become full time trader or even if a few learn from the mistakes I make..... the

process of learning never stops and thats why I am here to keep on learning

from my fellow traders and to keep on attempting to become a better trader

with each day gone by

Regards Everyone:thumb:
 
#2
Majority of us are in a quest to become a successful trader and majority of us

have most probably failed.....so the intent is very clear....to be part of that

classical and elusive minority who are successful @ trading....Can a commoner

like me do it ? or will I suffer the same fate which many well intentioned and

spirited people like me have met before?

For sure I am here to win.....to conclusively prove that it is possible to make a

career trading....to defy the myth that it requires extraordinary skills to be a

successful trader.....

People follow different approaches for trading viz. Fundamental/Technical/Pure

Price Action......A trader has to choose between pure Technical Analysis and

Price Action ? Is there an answer to the question as to which one of these is

a better approach ? I think its going to be a self discovery ....along the path I

will realize which approach works 4 me.....I am bound to make

mistakes....commit very very common errors.....but only one thing I am not

going to do is to quit....

I expect to start sharing my trades very soon with my logical or illogical

reasons to go for a trade....the reasons will or may be irrational to many...still

I will have my own reasons to go for a trade...and I will give my bullshit

reasons 4 going 4 a particular trade

Thanking Everyone and Regards Everybody:thumb:
 

XRAY27

Well-Known Member
#4
hi
anhatvatsal..
its great to see a "FULL TIME TRADER" ......... YOUR WORDS"I am bound to make

mistakes....commit very very common errors.....but only one thing I am not

going to do is to quit...."


ARE GREAT WORDS...

introduction


Meanwhile iam also full time trader.. in the stock market since 2007 till now ...started at the age of 26.. now 33 years... getting all the from "mother stock market"...

please provide your details like age, study etc and experience...thanks for starting the dairy.

iam price action trader not automatic formula or mechanical trader...

i admire the following quote in trading...as long as that is there we are wealth generators and happy folks
 
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Mr.G

Well-Known Member
#5
hi
anhatvatsal..
its great to see a "FULL TIME TRADER" ......... YOUR WORDS"I am bound to make

mistakes....commit very very common errors.....but only one thing I am not

going to do is to quit...."


ARE GREAT WORDS...

introduction


Meanwhile iam also full time trader.. in the stock market since 2007 till now ...started at the age of 26.. now 33 years... getting all the from "mother stock market"...

please provide your details like age, study etc and experience...thanks for starting the dairy.

iam price action trader not automatic formula or mechanical trader...

i admire the following quote in trading...as long as that is there we are wealth generators and happy folks
VERY VERY VERY good qoute! I just made it my wallpaper. Thanx for this.
 

krist

Active Member
#6
Welcome AnhatWatsal.
even I am a learner studying price action. I have planned to study for 6 to 12 months at least(just a rough figure). May be it will take more than that, not less. Only then will I start trading.

@XRAY27: Very nice to know someone who has been practising price action for about 7 years. Hope you will allow me to bug you. :)
I was introduced to PA by Taiki and he is my inspiration behind learning day trading. However I was also told by someone else that day trading for small investors is very difficult as it involves slippage and requires very tight SL. But I believe that its only my experience that will be final.
Presently I am reading Lance Beggs books. Please tell me if there is some other material I need to refer.

Regards
Krist.
 

XRAY27

Well-Known Member
#7
Welcome AnhatWatsal.
even I am a learner studying price action. I have planned to study for 6 to 12 months at least(just a rough figure). May be it will take more than that, not less. Only then will I start trading.

@XRAY27: Very nice to know someone who has been practising price action for about 7 years. Hope you will allow me to bug you. :)
I was introduced to PA by Taiki and he is my inspiration behind learning day trading. However I was also told by someone else that day trading for small investors is very difficult as it involves slippage and requires very tight SL. But I believe that its only my experience that will be final.
Presently I am reading Lance Beggs books. Please tell me if there is some other material I need to refer.

Regards
Krist.
Lance Beggs books are nothing ,but another form of basic material of Technical analysis in the name of" price action".
swing ......swing breakout and swing failure.......... in very simple manner it is more then enough
after that learn chart pattens then draw points to under stand crowd behaviour
try to design entries setup with decent R:R ..with proper tsl..

Too often traders simply follow the crowd. Instead you should develop your own unique trading style.

you will see fruits of success:):):clap:
 
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krist

Active Member
#8
Thank you XRAY27 for your advice.
I was under the impression that price action readers dont need technical charts. Although I have studied basic chart patterns before, I will do that in detail now. but please tell me do you use those patterns in trading? ( And I will ask about "points of crowd behaviour" after I am done with Lance and chart patterns. :) )

Regards
Krist.
 

XRAY27

Well-Known Member
#9
Thank you XRAY27 for your advice.
I was under the impression that price action readers dont need technical charts. Although I have studied basic chart patterns before, I will do that in detail now. but please tell me do you use those patterns in trading? ( And I will ask about "points of crowd behaviour" after I am done with Lance and chart patterns. :) )

Regards
Krist.
Dear krist..
iam big fan of Bulkowski's "Thepatternsite.com".... and "Trading charts like pro"
-Suri Duddella
i have posted some pattern in TA section below is the link.....
http://www.traderji.com/technical-analysis/91972-nifty-future-hourly.html
 
#10
Bought Reliance Capital March futures 1000 @ 308.5

My reasons for initiating the trade is that on Friday the stock had made almost

hammer kind of formation and today kind of spinning Doji....both of them

indicate either indecision or reversal.....trend is clearly downwards .....at the

same time I have bought it for a target of 320 and stop-loss is just the low it

has made recently i.e.304.5 in cash....

lets see how does this trade pan out...I am willing to add more lots if trade

goes in my direction

Regards Everybody:thumb:
 

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