Trading Experience

#11
Did you paper trade before trading with real money?
Stock Picking was never an issue for me. Paper trading is good but it can never give you real experience of trading. When you sit with real money, then experience is different. Paper trading can not teach you How to control greed.

Those two red pillars, at the start of those days i was sitting on pretty good profit. but i could not resist to trade more, with more money.

I usually never use Stops I don't believe in them. May be because I was always long in the past.. On the Infosys day, I used stops but the speed of fall was such that my stops executed way below my exit price.

May one day I will find someone on this forum who is very good with temperament and good trading psychology.
 

rip07

Well-Known Member
#12
Dear friend!!! Very nice journey and interesting points/suggestions. Do not wait for that one day to find someone here, here we have many Star and Superstar traders. You can start with Subhadip, lonewolf and Xray bro!! and start following Smart_Trade sir. With time you will get to know more stars/superstars as well. :)

Wish you a good luck for your Goal Retire by 40. :thumb:

Stock Picking was never an issue for me. Paper trading is good but it can never give you real experience of trading. When you sit with real money, then experience is different. Paper trading can not teach you How to control greed.

Those two red pillars, at the start of those days i was sitting on pretty good profit. but i could not resist to trade more, with more money.

I usually never use Stops I don't believe in them. May be because I was always long in the past.. On the Infosys day, I used stops but the speed of fall was such that my stops executed way below my exit price.

May one day I will find someone on this forum who is very good with temperament and good trading psychology.
Thanks
rip07
 
#13
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
I lost in intraday today like i did many times in this month...i had almost decided to stop till i read your story on rediff...:thumb:

You inspired me :clap:, but i dont know if will go and loose money again on monday:(

One more reason y i liked your thoughts was because , like u i wanted to retire when i turn 40 and i have 1.5 years for it

My problem is however carefully i invest either the share goes down or it makes me feel it will go down and makes me sell with very less profit:mad:
 

rip07

Well-Known Member
#14
Dear AC, Thanks for sharing your experience. Indeed story of retireby40 is very inspiring. We can learn from him, discipline and money management.
May be Disciplined Trader or Trading in the zone by Mark douglas can help you, in case you haven't read it.

I lost in intraday today like i did many times in this month...i had almost decided to stop till i read your story on rediff...:thumb:

You inspired me :clap:, but i dont know if will go and loose money again on monday:(

One more reason y i liked your thoughts was because , like u i wanted to retire when i turn 40 and i have 1.5 years for it

My problem is however carefully i invest either the share goes down or it makes me feel it will go down and makes me sell with very less profit:mad:
Thanks
rip07
 
#15
Indeed story of retireby40 is very inspiring. We can learn from him, discipline and money management.
May be Disciplined Trader or Trading in the zone by Mark douglas can help you, in case you haven't read it.
Thanks
rip07
rip07
Thanks for best wishes. I would be more than happy to share my thoughts. I myself came to this forum to learn and correct the mistakes that I did in the past in stock market.

Thanks for referring a book, i have downloaded the pdf.

Regards
 
#16
This week again in red. Lost 14k total. There were opportunities where i could have sqr off the trade at not so bad profit.. however in the hope of more profit continued holding the position and ended up in the loss.

Holding HUL, SUN Pharma, Kotak equity for positional trade.
rip07 i am not sure about sharing such things on this thread. point me to appropriate if any.

thanks
 
#17
I lost in intraday today like i did many times in this month...i had almost decided to stop till i read your story on rediff...:thumb:

You inspired me :clap:, but i dont know if will go and loose money again on monday:(

One more reason y i liked your thoughts was because , like u i wanted to retire when i turn 40 and i have 1.5 years for it

My problem is however carefully i invest either the share goes down or it makes me feel it will go down and makes me sell with very less profit:mad:
Dear AC,
You can set target to retire by 43 then.. go to 1500days dot com (again i am not sure about posting other web sites on this forum.. please excuse me.)
 

rip07

Well-Known Member
#18
My friend!! You can share whatever, which can help you and us to trade better. This is the sole motive of this thread and I believe this forum also share the same objective to make us better trader. Try to add your logic before enter, your feelings during trade and decision of exit. Finally how you felt after trade and any lesson for future. If you do not feel comfortable here, may be in your trading journal. I am sure such kind of experience will help all of us.

And sharing websites in fact it will add credibility of our post. Just forum is against tips provider, or traffic diversion to personal sites. But anything which can add value here is welcome if it is not violating any copyright of someone.

This week again in red. Lost 14k total. There were opportunities where i could have sqr off the trade at not so bad profit.. however in the hope of more profit continued holding the position and ended up in the loss.

Holding HUL, SUN Pharma, Kotak equity for positional trade.
rip07 i am not sure about sharing such things on this thread. point me to appropriate if any.

thanks
Thanks
rip07
 

okabira

Well-Known Member
#19
@ retireby40

Hello sir ,

Can U throw some light (all light actually :D) on scalping ??

How do you trade your setup ? When u decide to enter and exit ? any books recommend to take the grasp ? I am trying to read all scalping posts as possible .

Thanks
 

okabira

Well-Known Member
#20
Sirji , I cant see this type of graph on my q backoffice. I tried everything but nothing shows up . Is this a paid service ? I may be wrong . sorry for the posting here but the img was attached in this thread so ..