journey of a trader

[rkgoyal_98]

Hello,

How are u. Sorry was busy could not keep in touch
Regards
Rkgoyal_98

 

[oilman5]

what way they r related with timeframe?
..............
they decide whether to continue or quit .
act aggressively or play defensively..without this time element can not exist.

if all of them r favourable ..trade .
cross current..short time frame..ultra cautious.
unfathomable..hold cash.
all -, play short on nifty..

 

[oilman5]

time frame contd
........................
so time to act has been decided..

only timeframe that suits u. where u can think/visualise .
visualise what may happen .....that is happening later..

can u execute ?another critical question!
if not, place order on phone..allow others to place order..
let other may see the screne...
but decision making process should not be faught with internal dilemma

its a known fact in chess..half hr chess is better than 5min..1 hr rapid is better .2hr is further better..classic chess brings out of a champ...

definitely time to think improve quality...quality of selection and timing...

and see the ploy/decoy..so called news trap and marketing/gimic...
foolish greedy bull trap...
fortunately u , trader has another weapon..time out....stop loss

we chess player fight ..fight to save ..hope for opponent mistake...
better is quit...accept loss.. no hope..use TIME....time to find oppurtunity
write lesson learned....

time to search oppurtunity plays heavily in trading...however for exit more mechanical approach is helpful

 

[oilman5]

timeframe contd
............................
in chess u write . then u play on board...
same way u write a plan ...see price confirmation then place order.

hence choice of a higher time frame necessary to act...
for daytrade..eod data ..decision making + hr signal good...
for intraday...software..higher high break on smaller time [ 3min/5min] +increment in momentum / volume surge..with small target execution is key
for short term trader eod + week base signal ...
position trader [ cold blooder murderer to rob ur money]..plays with subjective judgement..allows profit run..use break out/ pull back as necessary
..applies suitable tactics as when necessary...simply get out when wrong[infact they use time stop from hara-kiri]...experience...chain to get info..
professional friend and leverage..all tools r used...
yet sometimes they lose..when they are NOT ready change...with blockade
market directional view

hence depending upon actual you...can choose any time frame ..with greater accuracy level...another higher time frame for clarity of thought..
however check performance..take membership..a performer in that time frame...to minimise scanning time...performance analysis..execution idea must
if u know math/ computer/ have time ..software...day trade is best..
av with experience...short term...as oppurtunity exists
good knowledge/part time ..view on life..ready to work hard..wait for oppurtunity...try to be a position trader...use weekly chart..10day cycle...

oilman5[ all these views r personal,which i used in my trade path...when success smiled on me]

 

[oilman5]

to rk, i am fine..come out of service blue..within a month load shall be normal.
howver..u can ask any position ..preferably gr A..

with regards

 

[oilman5]

subjective view
......................
preview...before an insident u r taking a view..what may happen.
review....after an insident u analise.
proview..while insident is happening ..u r taking decision[pick among best alternative]..acting in your best interest.
this PROVIEW is the aim of a successful trader.use preview.do review later...
follow proview to get money...avoid danger
do u find difficulty ? think of childhood..writing essay...introduction...
body[proview]...
conclusion[review]..

leading indicator must be used for preview..idea..fundamental estimate..
a trade plan...but on actual market ..only proview..lagging indicator on intraday chart basis...observe and act....at 17-30hr.review of trade..
if u r like me..review in end of week
.................................................

 

[oilman5]

never ever introduction to get highest priority..hence openion always comes last....this order should never be broken[if u want to money out of market]

bullish view.....how far market can go up ..at what time limit..
an analyst writes tcs price target 1650..it means 1sigma.66% chance of reaching tcs 1650 within a yr of time..if present condition [linear interpolation] prevails
if he writes conservative target 1600...itmeans 95%[2sigma]
chance of achieving that target within a yr

now again on new quarterly result out/review of company this may be edited depending on prevailing market condition

however conviction is rare in analyst ..to put big money...WHY?

HE KNOWS THE RISK/ASSUMPTION..which rarely get published..
the trick of management ...promotion sell

sentiment change..alternate scenario..how far market can fall?
at what duration it shall continue...nobody knows..but fibonacci definitely helps the trader..where is support...commit little money..commit and see
price reversing ..hey u get it right..buy more now!

hence market movement offers enough oppurtunity to active observer
methodical man can make money out of it

 

[oilman5]

objective trading
..........................as i am novice in computer..
column name is given ..pl prepare suitable sheet..in excel ..attach
[ if possible or mail to me]

trade sheet
...................
column
no heading
1 dt
2 name of stock
3 type of trade..buy/sell
4. trade set up condition..gap/ volume spike/support pt
result out/ commodity price up
5. entry condition ..pull back/ break out/ continuation
6. money alloted ..no of stock x price
7. style of trade ..day/ short term / inter mediate
8. present value of nifty
9. any hype at present...
10. stop loss
11. profit booking strategy ....1.................2
12. profit target.. p1............p2

13. additional buy strategy/ with reason
14. sell dt and NIFTY VALUE

15. sell quantity x sell price..
16. whether trade is profit...howmuch
17. whether trade is loss.. howmuch
18. have u followed stop and SAR. IF NOT WHY
19. reason of sell
20. cost of trade[ comission+ tax]
21. your net profit
22. your monthly rate of return..

2nd sheet ..monthly performance sheet
.................................................. ...

column description

1 month
2 total no of trade in month
3. no of winning trade
4. total amount of winning
5. no of lossing trade
6. total amount of losing
7. net profit/ loss in a month
8. is losing trade shown some pattern failure/
wrong assumption
9. av. win amount per trade per lakh
10. increase of your equity value..
11. percentage of wrong trade
12. risk amount in each trade. value ..in %
13. drawdown condition to quit
14. monthly yield compare to nifty yield in month

note.. its best if u plot this equity curve

hi all .pl prepare xcel sheet ..and copy paste it[or send to me]

 

[oilman5]

hence as a complete trader..u must know range trading..trend trading
..also volatilityzone play [ i confess i dont know]

condition of market,.........

min 2 style..day / short term
swing/ positon
position/investment

min 2 style of entry...break out/ support buy/ pullback buy
exit in detail
..................
profitable exit/ target profit book/ 50% and let other half run
exit in loss..bulk sell/ stop execution/ time stop

observe in uncertainity...say today..bearish strength is high..but bulls small individual traders give good fight..sufficient enough to come out of days low
definitely professionalbears can not rollon street smart bull. unless media prints bad picture..[this dalal write/say anything for personal motive..just like publishing foetus photo in 1st page.times of india..for publishity's sake]

ofcourse basic idea of company/sector u deal..fundamental conderation why price may change?

a test of reasoning ..your logical trade..your write up

oilman5

 

[oilman5]

present market is extension of bullmarket/ volatile play plan
hence trade with caution..many a trader already sidelined.

advance-decline line is a good way to understand market sentiment.refwww.icharts.in