Trading the trend
- Thread starter VIKAS 21
- Start date
I am not an accomplished trader like the Seniors on this forum, but am climbing the ladder a step at a time. I am sharing my views, although uninvited, in hope for sharpening my own perspective.
When one does not get the desired results he searches for new methods... that is the loop one has to snap out of.
The argument which pushed me to follow ONE SINGLE method:
Then my mistake appeared and this is a very common among us traders but so easily overlooked:
This was and still is such a big hurdle that I do not have words for. My Ego was not willing to take the risk of being wrong... no f****g way !!
After a few weeks of depression. I pulled that very method out and took every single entry.
But Still results were only break evenish. But, I felt I was almost there.
Again the next big mistake appeared...
Its a long story. But I will stop here.
When one does not get the desired results he searches for new methods... that is the loop one has to snap out of.
The argument which pushed me to follow ONE SINGLE method:
"Only because the method gives super +ive results in (hours and hours of) backtesting have I decided to trade it with money. The results were exciting for historic 48 months, then why am I not getting results for as little as one or two live months. The method is approved.... then why are there no results !!"
Then my mistake appeared and this is a very common among us traders but so easily overlooked:
I was skipping entries because I read something in the newspaper, forum or got a new idea.
This was and still is such a big hurdle that I do not have words for. My Ego was not willing to take the risk of being wrong... no f****g way !!
After a few weeks of depression. I pulled that very method out and took every single entry.
But Still results were only break evenish. But, I felt I was almost there.
Again the next big mistake appeared...
Its a long story. But I will stop here.
Trend trading, and even trading in general, isn't for everyone.
As too few people check out what the day-to-day life of a trader is
like, and trend trading specifically, I strongly recommend they find
out before making a life changing commitment.
As too few people check out what the day-to-day life of a trader is
like, and trend trading specifically, I strongly recommend they find
out before making a life changing commitment.
Charles Faulkner
Michael Covel-Trend Following-Pg271
Michael Covel-Trend Following-Pg271
Now you can't say I didn't warn. 
I will highlight my hurdles and later expound upon:
1) The importance of taking all entries
2) One single, strict policy for exits.
3) No conflicts betw what you do and what your system dictates
(very important to not have Cancer, yes the disease!)
4) Self reliance. No trading on methods from others.
5) Start small and strive to remain small. Big will automatically happen.
6) Single most important development as a trader, rest all follows.
7) Family and Societal pressure. The need for being unconventional.
You guys are also super welcome to post your experiences of these points. Communal learning.
I will highlight my hurdles and later expound upon:
1) The importance of taking all entries
2) One single, strict policy for exits.
3) No conflicts betw what you do and what your system dictates
(very important to not have Cancer, yes the disease!)
4) Self reliance. No trading on methods from others.
5) Start small and strive to remain small. Big will automatically happen.
6) Single most important development as a trader, rest all follows.
7) Family and Societal pressure. The need for being unconventional.
You guys are also super welcome to post your experiences of these points. Communal learning.
VIEW ON TRADING & TRADING METHODS BY TWO ICONS ......
SAINT SIR: Trading is simple but we people make it complicated by using a lot of complex indicators & we think the most difficult method we trade the most the are chances of success.
SMART_TRADE SIR: Contrary to many people's belief,there is no perfect system. There has never been one in the past and there will never be one in future. There is no magic formula, no secret indicator,no AFL which will make money for you without any efforts from your side. There are competent methods but each will have its share of choppy trades,losses, frustrating periods,big profits etc.My experience tells me that you need to have a good method but it is not that it will make money for you if run on autopilot. A good trader is equally necessary behind a good method in daytrading and that is a winning combination along with good MM.
SAINT SIR: Trading is simple but we people make it complicated by using a lot of complex indicators & we think the most difficult method we trade the most the are chances of success.
SMART_TRADE SIR: Contrary to many people's belief,there is no perfect system. There has never been one in the past and there will never be one in future. There is no magic formula, no secret indicator,no AFL which will make money for you without any efforts from your side. There are competent methods but each will have its share of choppy trades,losses, frustrating periods,big profits etc.My experience tells me that you need to have a good method but it is not that it will make money for you if run on autopilot. A good trader is equally necessary behind a good method in daytrading and that is a winning combination along with good MM.
now you can't say i didn't warn.
i will highlight my hurdles and later expound upon:
1) the importance of taking all entries
2) one single, strict policy for exits.
3) no conflicts betw what you do and what your system dictates
(very important to not have cancer, yes the disease!)
4) self reliance. No trading on methods from others.
5) start small and strive to remain small. Big will automatically happen.
6) single most important development as a trader, rest all follows.
7) family and societal pressure. The need for being unconventional.
You guys are also super welcome to post your experiences of these points. Communal learning.
i will highlight my hurdles and later expound upon:
1) the importance of taking all entries
2) one single, strict policy for exits.
3) no conflicts betw what you do and what your system dictates
(very important to not have cancer, yes the disease!)
4) self reliance. No trading on methods from others.
5) start small and strive to remain small. Big will automatically happen.
6) single most important development as a trader, rest all follows.
7) family and societal pressure. The need for being unconventional.
You guys are also super welcome to post your experiences of these points. Communal learning.
So please share your single exit method, may be we ppl can take benefit of it...
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