Trading Experience

rip07

Well-Known Member
#1
Hello friends!! :)

As being a part of this wonderful forum, I firmly believe that each and every member of TJ has a wonderful story to tell about himself/herself. Sometime we share our experience in other threads in a way that can help other fellows, or for our own improvement.

If friends like this idea of sharing their experiences, incident, may help a lot other friends. It can be your trading journey, experience in trading, incidents, your biggest loss/gain (not numbers, but your experience/feelings/action) etc. Any milestone you achieved, or your turning point in trading career.

Stories can be long/short, entertaining, inspiring etc. but it should relate directly to yourself, not INTERNET stories. We will get to know each other in a better way.

Instead of GIVING advice to fellow members, please do SHARE your advice/stories/experience with fellow members.

Thanks
rip07
 
#3
Hello RIP07

I started my journey in 2005. In 2006 I obtained home loan, with trading and investing in good divd paying stocks i prepaid all my home loan in 2013. After peaceful gap of 2 years, I started again in 2015 with Derivatives and on losing streak since then.

During my first 5 years i devised may crap strategies from raising money for trading, to value picking, DCF framework and what not.. One such thing I have narrated in this Rediff blog entry. These were the days when i was obsessed with taking loans and investing. I closed all my loans successfully, which are Credit Card loans, Personal Loan, Home loan topup... and so on.

As of now I am completely debt free and working on a plan to retire by 40.

Thanks for opening this thread and waiting eagerly to hear from fellow traders.

Regards
 

rip07

Well-Known Member
#4
Very Nice Oi trader boi!! It is not necessary that we have to share all our experience, you can pick any moment, I am sure you have many Ahaa/difficult moments in your life (related to trading).
Thanks for sharing your thoughts. :)

I shared mine already and now doing part time Job+Swing Nifty 1 lot with 1.5L as a base capital.Doing well so far.
Thanks
rip07
 

rip07

Well-Known Member
#5
My friend!! first of all congratulations and thanks for sharing your experience with us. It really needs guts to take loan for trading and above all excel in it.

Please keep sharing your other experiences as well, which you think might help us.

Thanks
rip07

PS: please do not share links like this, might violate the rules of thread for diverting traffic to personal blogs/sites or identities. Friendly reminder. :)

Hello RIP07

I started my journey in 2005. In 2006 I obtained home loan, with trading and investing in good divd paying stocks i prepaid all my home loan in 2013. After peaceful gap of 2 years, I started again in 2015 with Derivatives and on losing streak since then.

During my first 5 years i devised may crap strategies from raising money for trading, to value picking, DCF framework and what not.. One such thing I have narrated in this Rediff blog entry. These were the days when i was obsessed with taking loans and investing. I closed all my loans successfully, which are Credit Card loans, Personal Loan, Home loan topup... and so on.

As of now I am completely debt free and working on a plan to retire by 40.

Thanks for opening this thread and waiting eagerly to hear from fellow traders.

Regards
 
#6
I have a business but it actually never took off.So i started trading parttime with very less amount. In our place nobody has actual idea about trading & they associate it with gambling or matka.In our area internet penetration is very low & people associate smart phone only with whattsapp.
I started taking baby steps in trading ,started with day trading,then learn about options,.shifted trading account from sharekhan to zerodha.
Still iam not able to dedicate too much time to trading so i have trained my relative in my business & after this festive season i am thinking of trading full time
 
#7
My friend!! first of all congratulations and thanks for sharing your experience with us. It really needs guts to take loan for trading and above all excel in it.

Please keep sharing your other experiences as well, which you think might help us.

Thanks
rip07

PS: please do not share links like this, might violate the rules of thread for diverting traffic to personal blogs/sites or identities. Friendly reminder. :)
Hello rip07,
I am sorry for posting of the link. It is not my formal blog as i don't have any. Just like you, rediff asked it's readers to share trading experience, and i wrote. It got selected and rediff published that.

Yes that time i don't know how i did it. If i think today to repeat it, I may not be able to do that again.

In my trading experience I hit the roadblock twice. Wipro and Infosys wiped out my 70% trading capital. I was over trading in FnO, Broke my rules
I will post my new rules for review. let me know the improvement.
 
#8
I started with Zerodha Account in Jan 2016. Initially I lost money in Options. My job is in IT and We do instrument pricing in our job. but i never traded options real life. So time decay killed my initial positions. Then I started with scalping, that to on 1 or 2 lots of Stock futures. This strategy worked very well until Wipro wiped out 50% of my capital in April result. then i slowly recovered, but again Infosys on 15 July wiped out my 70% capital. Look at the two red bars. So i stopped scalping.
Attached is my performance. It is not great. I am working on it.
 
#9
Here is the last post from my side about my trading experience. I would like to know from others now onward about their plans.

Trading Style
* Scalping / Pivot

5M chart with Supertrend, MACD & RSI
* Crossovers for spotting entries, Setting target
1M chart with Supertrend MACD & RSI
* Crossovers for Entry, Stop

Trading Hours
9.15am to 3.30pm

Pre-market preparations
* Analyze the trend lines on 5m chart
* Analyze the S/R using trend lines and SuperTrend
* Guess the possible range.
* Guess the trend.
* Scan through newspapers for possible news event.

Plan the trades.
* Define entry points
* Decide target price
* Decide Stop Loss
* Define entry time of the day. Mostly don't trade in the opening 1 hr.

Plan the scenarios (Gap-up, Gap-down)
* Spot the Support/Resistance
* Spot the level to pull the plug / exit/ last stand
* Confirm the trend of the market in first 1 hour.

Setting the target
* High Risk - Narrow range targets. most of the time SL get hit.
* Low Risk - Wider rage, Pivot levels, Crossovers.

Trade Execution
* If price action confirms the plan
* Scenarios in place.
* BO/SL order is must.

Exit when
* SL is triggered
* Target is met
* Manual exit

Risk Management (This I could not manage
)

3% of the balance. i.e. Rs. 3000 for 1 Lakh Rs.
RR 1:3 means 1rs stop, 3rs tgt.



Imp Guidelines
* Decide when NOT to trade
- Enough profit? Then don't trade
- Enough loss? Then don't trade
- Volatile mkt? Then stay away
- News / Event / results ? Stay away and enjoy reading.
* Better miss a good trade than being in the bad one.
* Market will be there forever.
* Get in the flow
* No averaging. One lot pyramiding
* Always Wait for opportune moment. No hurry
* No Mobile trading while travelling, poor signal or network congestion.
* No trading while outstation.
* Don't take position when meetings are scheduled in next 1-2 hours

Due to this plan, 90% of my trading in derivatives reduced. I only trade in equity with above rules.