Saravanan Notes

SaravananKS

Well-Known Member
#2
1. Analyse your personality
2. Minimum three years is needed to be successful and so start with less investment and assume that you are going to loose everything that you invest in the first three years. It would be the fees that you pay to become a Trader. It is like the time and money you need to become an engineer or doctor or teacher or any other profession. Every profession needs time and Stock market also needs Money
3. Never be satisfied with your trading system and so improve your system
4. Be more disciplined and daily work on your discipline
5. Sound money management plan - Even if you are successful trader ALWAYS LEARN FROM MISTAKE
6. Read some books on Basic stock markets
7. REad books on Money management,
8. Stock market is not for Everyone as Evevybody as everybody cannot become a doctor or a dancer. So Analyse your personality.
9. Open a trading account with a small amount and expect to loose ALL the amount in 3 years. So invest very less. This would be fees that you pay to learn TRADING.
10. Develop a Plan and Keep improving the plan for 2-3 years.
11. If profession like Engineers study for 5 years to earn 50K in a month. To earn more 50K or more in a month in Stock market you have to invest more time in Stock market than 5 years.
12. So be patient while you are learning. You cannot become a doctor while you are learning. You only become a doctor after 5 years.
13. So start risking different % in the first three years to see the results you get. Do not always trade with 2% risk or 1% risk. You will not learn anything
14. You have to do atleast 100 Paper Trades before starting really.
15. Put a Plan and Follow the plan
16. Follow your rules
17. Have your own system and Follow your system
18. After 3 years you will start to make profit
19. Are you willing to spent three years to start getting profits. If not Quit Trading now.
20. Develop Positive Self Belief.
21. Extensive BackTesting of your system is necessary to get the confidence in the system Until you have confidence in the system and you have backtested DO NOT use the system.
22. Examine your Belief system about Trading. For example if You think Stock market as a Casino then QUIT immediately. How much returns possible? How long do you invest atfter market hours? Do you think it is just simple like spending 10 minutes a day will give you 10000 then QUIT Trading.
23. Normally problem and solution come from within. The solution or problem is not outside you.
24. Experience comes only from time. So invest small amount... For first three years trade for points and not for Money
26. So MONEY should be out of your mind for three years
27. Start TRADING with the assumption that you are going to Trade at least for 20 years.
28. TRADER = RULE FOLLOWER
29. EMOTIONS - ELIMINATE
30. RESPONSIBILITY - Take Responsibility like Doctors take responsibility for their surgeries
31. D - Discipline
32. Balanced Life is necessary to Trader like any other profession. So plan you 9 to 6 like any work.
33. Successful Trader - Very Relaxed
34. Excitement, Emotions Eliminate
35. Focus away from markets
36. Stock Trading should be Boring, effortless, and not exciting and emotion. If it is not bring and effortless then QUIT trading.


Just summarizing the final six questions so that it would motivate others. There is no answer or solution in the 60 minute Audio. The audio simply says that YOU are the Problem and YOU ONLY can be the solution.

If you can follow and understand the following 6 questions and answers then you are a successful trader. One question leads to another

1. How can I become a Successful Trader?
View trading as Game of points and not as Money

2. How do I do view market as points and not as Money?
Have complete Self belief in your system and Belief in Yourself

3. How do I get this Self Belief?
Do the ground work (hardwork) on your system and yourself. Keep working towards excellence (Or Perfection)

4. Where should I do the ground work?
Plan for every eventuality in every trade with the finer details considering all the posibilities. Develop the discipline to follow the Rules regardless of anything.

5. How do I plan a trade?
Either start from Scratch and Build a successful system that fits your Personality.

6. How do I find that successful system?
Hahaha... The most difficult. Take Responsibility now and Build that system.

So what are the Seven habits
1. Take responsibility
2. Have a system that suits your personality
3. Plan every trade to the finest detail
4. Do the Ground work
5. Complete Self confidence in system and Skill
6. See the market as Point based and not money based
7. Finally the Attitude towards the market - We cannot control markets and we can control ourselves
from
http://www.traderji.com/advanced-trading-strategies/71838-1-lakh-652-lakhs-497-trading-days-winning-20-trade-nifty-futures-bac-60.html#post715985
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sanjn84

Active Member
#3
very nice and really true experience , all comes in stock market to gain in 5 min trade but in reality , we have to work hard and most important believe in ourself.
 
#4
hello sir,
one thing which i liked most in this article is that the way you said the truth that 'Minimum three years is needed to be successful and so start with less investment and assume that you are going to loose everything that you invest in the first three years'. your article has motivated me to know more about this field with patience.
 

SaravananKS

Well-Known Member
#7
Algorithm for the FLOW

1. Calculate the EMA on the closing prices (For 10min TF I have taken EMA(10))
2. Based on the values from Step 1 compare the nth value and (n+1) value and find out whether it is going "UP" or "DOWN"
3. Using 1 and 2, Now find out where the direction changes from "UP" to "DOWN" or "DOWN" to "UP". The place where it changes direction is called "PIVOT"
4. Now take all these pivots and join them using lines. (The Y coordinate would be the pivot values and X Axis values would be the time). In Excel I use the function called TREND to plot the lines between two points
5. To use different color for UP trend and DOWN Trend you need to split the trend into two sets of values
6. Plus you can also plot the "BUY" and "SELL" Signals after the pivot point
7. To find out the "BUY ABOVE" and "SELL BELOW" take the last pivot highs and pivot lows and draw the lines.

You can see the above steps in the hidden sheet "NF10MinFlow" in cells "AK" to "BA"

Also see the function TenMinuteNIFTYFlow in the VBA Code.
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Best Regards,
Raj
 

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