Trading Challenge - 1 (Crude oil - 1.75 L to 1 Cr in 300 trading days)

Does turtle say anywhere that "past performance is not a guarantee of future performance" ??
Gm,
was taking a breather on my twilight morning walk/jog - lol.

The book is not a trading guide. So it does not need to state disclaimers as you quote. But even If it did - then i missed it i guess.

It is the triumph of the power of conviction, the cumulation of an absurd dream by a man who had the guts and self belief to follow up on what he believed was possible despite the oblivious improbability of the challenge.

Anything can inspire one. Nature, music, books etc.

It is the mental attributes that make up 95 percent of a trader. Strategy and the rest is just a small part of the equation.

Give a naked chart and a 'trader' would still make money. He does it because he is a trader in his head not because he has a fancy chart set up or a 'gauranteed - no loss statergy'.

Look at this in the mirror (reverse outlook) and analyse. Why is losing money so easy in trading. You will find a million reasons for it. So how do we go about making money then. By understanding what we do wrong and someone does right. I am not sure if posting threads of another forum are allowed here else i would give you the link of a guy who was on the other side earlier and gives you an insight of how the smart money cartel and the smart money computers are coded and operate. I was shocked to read from his thread that retail traders are a very small part of the dumb money. We almost do not even matter to the big boys. So it not just roses i look at but study the thorns as well.

I do not read books with such disclaimers as you quote because i realised a long time back that the holy grail of trading is just a myth.

This book is meant to inspire you at the best, nothing more i feel. After all - trading is all about inspiration,belief, discipline and the rest is blood and tears. You either bleed dry or stop bleeding before you run dry.

I hope - if you do read it - it inspires you as well.

Have a great Sunday and good luck to your trading.
 
one of my all time favourite book along with jesse Livermore's reminiscence of a stock operator I read and reread manytimes still don't get bored also recommend for all traders who like reading books.
Jesse is a legend. The very term 'trend trading' is another extension of his great self. I will check this book out for sure - thank you for the mention of it

Good weekend and good luck for the week coming up.
 

TraderRavi

low risk profile
Gm,
was taking a breather on my twilight morning walk/jog - lol.

The book is not a trading guide. So it does not need to state disclaimers as you quote. But even If it did - then i missed it i guess.

It is the triumph of the power of conviction, the cumulation of an absurd dream by a man who had the guts and self belief to follow up on what he believed was possible despite the oblivious improbability of the challenge.

Anything can inspire one. Nature, music, books etc.

It is the mental attributes that make up 95 percent of a trader. Strategy and the rest is just a small part of the equation.

Give a naked chart and a 'trader' would still make money. He does it because he is a trader in his head not because he has a fancy chart set up or a 'gauranteed - no loss statergy'.

Look at this in the mirror (reverse outlook) and analyse. Why is losing money so easy in trading. You will find a million reasons for it. So how do we go about making money then. By understanding what we do wrong and someone does right. I am not sure if posting threads of another forum are allowed here else i would give you the link of a guy who was on the other side earlier and gives you an insight of how the smart money cartel and the smart money computers are coded and operate. I was shocked to read from his thread that retail traders are a very small part of the dumb money. We almost do not even matter to the big boys. So it not just roses i look at but study the thorns as well.

I do not read books with such disclaimers as you quote because i realised a long time back that the holy grail of trading is just a myth.

This book is meant to inspire you at the best, nothing more i feel. After all - trading is all about inspiration,belief, discipline and the rest is blood and tears. You either bleed dry or stop bleeding before you run dry.

I hope - if you do read it - it inspires you as well.

Have a great Sunday and good luck to your trading.
you can quote a relevant para for us from that post without giving link.
 

goldenedge

Well-Known Member
Let me drop my set of recommended books. ;)

1) The universal principles of successful trading : The only book you need to develop your strategies and methods , learn basic psychology and get your trading wheels up and running as soon as possible.

2) What I learned from losing a million dollars : You will learn long term philosophy towards trading and attitude towards losses. Most traders focus on profits, new strategies. There are 1000 different and even contradictory ways to make money but very few ways to lose money.

3) Trading in the zone : Not much useful for a trader because the concepts are mostly in theoretical form. Nevertheless, it's one of those books you read once every 3 months to keep your psychology in check.
 
you can quote a relevant para for us from that post without giving link.
It is huge and massive really - some 430 pages thread and endless videos.

Google - the only thread you will ever need: FX exposed!

Gives an alternate view from the other side. I found it very interesting.

just found his you tube channel -

 
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Let me drop my set of recommended books. ;)

1) The universal principles of successful trading : The only book you need to develop your strategies and methods , learn basic psychology and get your trading wheels up and running as soon as possible.

2) What I learned from losing a million dollars : You will learn long term philosophy towards trading and attitude towards losses. Most traders focus on profits, new strategies. There are 1000 different and even contradictory ways to make money but very few ways to lose money.

3) Trading in the zone : Not much useful for a trader because the concepts are mostly in theoretical form. Nevertheless, it's one of those books you read once every 3 months to keep your psychology in check.
I have the last one only out of the three. Even if a book ends up blowing a tiny positive Zephyr in my subconscious i consider it as a good read and time well spent.

I will check out the first two sometime - thank you and feels good to know folks here trade with a sense of passion that runs beyond just profits.

Have a great day
 
Gm all,

just a while back - crude mini buy @ 4972 and intend a short term intra-day type of trade ie non-scalp.

edit - noon update - sideways for now - waiting :rolleyes:.

edit - closed trade on pullback just a while back - exit @ 4942 ie 30 pts X 5 lots = 150 pts = 1500 plus charity loss.
lol, guess i should shut shop - close to my day loss limit.
 
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Gm all,

been up-to a lot of mischief these last few days - did not trade but kept trying to look for a positional set up, strategy etc. .

i will just scalp is what i decided after my first trade finally yesterday which was supposed to be a positional entry but badly back-fired and i took a loss - first trade of a new month and i mess it up.

i had transferred 35000 into my equity stocks late monday night from the commodities assuming trading Andhra bank will be just as easy as it seemed when it was the only stock i was scalping few months back. surprise - i was lost despite screen time of a full session. result - tuesday wasted and i did not even look at mcx after close of stock session - felt lost really. realized the hard way that i have to spend a lot of time before i can 'tune in' or whatever it is my brain does before i can do it right. wednesday i kind of sulked away and spent a day at the zoo and the beach just to get away from the battlegrounds, lol. yesterday i left the equity just like that and jumped back to mcx which feels safer and more familiar due to the time i spent here off late i guess.

as i was wrapping up for the day - yesterday - after a loss in mini zinc when it painfully dawned on me that i had wasted - not just the day and week (almost) but also messed up the start of a new month too - so i decided that i will do what i can do and not what i wish i could. i can scalp and i will only scalp. maybe in the course of scalping if i find a way to go a bit longer i would - else, forget it. just scalp and garner whatever spoils i can.

luckily - yesterday ended with a smile - after loss in mini zinc i took 3 crude mini - scalps and the day turned green finally.

so now on - just scalping away to the top o_O:cool:

good trading all
 
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just out @ 1254 - took the ride down from 4631 to 4615 X 10 mini lots crude - late entry but a good trade nevertheless

i know it is unfair to change the rules but i just amended the start to yesterday o_O.
the good thing is i have cut down the time to 255 trading days or 51 weeks :eek:

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