journey of a trader

[avinash]

So take your eyes off the peak. If you want to reach your trading goals, learn to enjoy the process and simply take your trading one step at a time.


cheers,
coursey nkp

guarantee what happens in the future-"The future is not always an extention of the present"-That is wht TA reflects and that is why trading is a journey not a destination. You have to go where the mkt takes you and make continous adjustments
sh 50

complains and never explains. It is what it is. When XYZ goes up $5 on heavy volume, let Joe Hairdo on CNBC jabber on about what it all means. We KNOW what it means. It means XYZ went up $5 on heavy volume.
saint

Hi Oilman,

I am just curious.All nice sayings,but why are the names "saint" "nkp" "sh50" there in the text.We all know that these great individuals have given us some great posts,but we all also now that the above style is not theirs.......so why put in their names there???

Curious to know,that's all!!

Avinash

 

[jraj]

Hi Oilman,

I am just curious.All nice sayings,but why are the names "saint" "nkp" "sh50" there in the text.We all know that these great individuals have given us some great posts,but we all also now that the above style is not theirs.......so why put in their names there???

Curious to know,that's all!!

Avinash

had the same question.

jay raj

 

[oilman5]

answer to query
......................
because the thing is written by them ..which i am quoting..

 

[oilman5]

this 3 comments r published by 3 good traders..so i must show coursey and regards to them

 

[oilman5]

let me write
.................
topic : SIGNAL
.......................
WHAT IS SIGNAL?
AN APPROACH TO ACT BASED ON SOMETHING...

BEST ' SOMETHING' IS PRICE...
WORST ' SOMETHING' IS WHIMPS...

NEWS IS BASICALLY POOR GRADE...
SOMETHING JUDGEMENT ON LONG TERM EFFECT ..ALWAYS GOOD.

ONLY AFTER A LONG TIME STAYING IN MARKET DEVELOP 'FEEL'

OTHER WISE.. emotional decision r mostly promise -return

increment of eps is good...more is new order..

top or bottom guessing is dream...however they can be seen in left side of chart...in coolhead..in a near by top..if price starts falling ..sell and get out
...justify later[ afterall u r trading with real money...not an analyst for tv-channel]...
same way watch for short term bottom..[ 3650..nifty future on 3/4/07 i dont miss...and book profit today 3970]...
when no further fallnot coming . be ready for buy..
buy on first oppurtunity ..new order is coming nifty future..3rd april..next..
just watch..today dream run ended ..so i book profit...

do u think its a good trade ? no shear luck!..i simply can not put hope...
afterall i allow big drawdown 30% feb/march ..breaking all common sense

signalled i followed in this trade
1. media hype..market shall fall[ contrarian]
2. fii putting real money..
3. william% R starts moving up

stop if any,, 3600 or time stop 3day

 

[oilman5]

in both entry day...3/4/07..exit day.. my trade is very poor..a bad day trader...ha ha...ask any swing trader ..its a dream trade

hence signal criteria for day trade and swing trade r entirely different

 

[oilman5]

element of trading
............................
background: trading must be treated as business. risk capital +time +attitude
to learn and do necessary behavior modification

1. risk management and survival first..since trading works in unpredictive arena ..how u handle loss is very imp.small loss should never allowed to turn big..however price fluctuation zone should be taken care of ..so optimum stop
2.right attitude...let profit run..benign neglect ..book partial profit
sar..if market turns opposite
3. add winners ..is most difficult to implement..not possible in daytrade or short term
4. advance concept..play aggressive with winner ..higher fund allocation..hence keep fund idle for suitable oppurtunity..
modified view..contrarian buy at temporary low of market
5. since most of things r subjective..emotional control is supreme priority..
development of entry / exit ..a system is a method to do so..
purpose of it to stop emotional burning and +expectency..hence if u prepare it ..follow it strictly..
6.system may have subjective part..lower the time , more mechanical it should be ..for day / short term price study governs.
indicator / backtesting help suitable confidence..to implement..
7. stock selection and timing other 2 critical element

 

[oilman5]

as trading game is search of oppurtunity/ against risk of ruin..balance plays the pivot..balance in life..balance with low risk with high reward ..
time management..as well as write own trade performance..

u must know what works in market...

unfortunately it different time frame criteria changes

 

[oilman5]

time element...

it takes time to understand..realisation of capability ..dream vs. reality

patience to bloom oppurtunity[let profit run]

time to observe[search mode] and right time to implement[execution]

but we forget TIME TO LEARN..

DIFFICULT ONE.. time to check own performance[what i am]

 

[oilman5]

time frame
..............
tree must be seen before branch...bigger picture must be taken first.
economy/world view/political position ..ofcourse..fii cash flow at present
...understand my view..its not bullish/bearish ..nor goal..
upbeat on economy..
funding
stability or continuity...this 3 element only....

for fii cash flow...a comparative base 10 days ago[2week]

this is only tool i use for fundamental element