journey of a trader

[oilman5]

do fundamental analysiswork?
yes its the FATHER..GIVES US NAME..
moneyflow...companys vision...balance sheet..
its postmortem of fundamental...
ORDER BOOK..IS KEY..
DO TA WORK??
YES DEFINITELY..ITS MOTHER...WITHOUT TA NO TRADER CAN BORN...
YES IN THE AGE TEST.TUBE...inside info trader r test tube baby..
company director buy in dummy reletive....
afinancier may back him...

SO A BABY TRADER IS BORN AFTER CONCEIVE[ TA+FA]
BABY'S GROWTH DEPENDS ON ENVIRONMENT[mastery over investment psychology...
money management is SCHOOLING'....
PROFIT'LOSS.... IN BOARD EXAM...IS SCORE..

 

[oilman5]

let us join class..
a]fundamental
b]ta
c] trading psychology..
other extra curriculum...
software knowledge
time mangement
survival skill
view to stay neutral..
risk taking capacity

 

[oilman5]

my trading fulcrum..investment...............................trading....gambling
accuracy 90%................... 30..50% 80%

my feed boring enjoy stressful
return 100% 20% 30%
money breakup 20 % 70% 10%

stop 30% 8% 3%

this system works for me....
av after tax annual return 18%..very poor..
but i dont loss much..
profit30-drawdown12=18
while day trade..max 2position
short term... max 3 position
long term trade... 12max...50% of short profit book . residue
convert to long hold...
mostly emotional trade are wrong..80% wrong. holding stopme good return
cool brain risky trade r however 70% right..
now i am planning to switch low risk trade

 

[oilman5]

note


investment trade gambling[day play]
read 3 value...
pl CLEARLY DISTINGUISH 3 ROLE
SELF SABOTAGE .. CAN HAPPEN ANY TIME...

OILMAN5

 

[oilman5]

hi. further i start my journey...
TRADE ELEMENT...
1] STUDY MARKET...CONSIDER GLOBAL VILLAGE CONCEPT...
WHERE INDIA IS SUPERIOR...
EXPORT..OF SERVICE.. SOME CHEAP MEDICINE...AUTO ANCILLIARY
JEWELLARY EXPORT
U IDENTIFY ..BEFORE..OTHERS...DEFINITELY MAKE MONEY...

2]MONEY FLOW CONCEPT..
WHETHER FURTHER MONEY SHALL COME INDIAN STOCK MARKET..
PRESENTLY YES..
3]RISK OF FAILURE THIS PREMISES....
can indian product its cheapness..be maintained..
do fii money shall continue to pour....
failure of PREMISE must be checked,,FROM INFO ONLY...
4]uncertain factor

global and local
IMPACT STUDY MUST BE READY ATLEAST IN MIND
this is i call visualisation..
so that u can act when it happen...
5]MICRO VIEW...
INDIVIDUAL STORY OF ANY COMPANY..
6] WHAT MAY HAPPEN TO MARKET...AS PER BIG ANALYSIST
MIND IT ITS AN OPENION , NEVER TRUE ...
AFAILED TRADER.. ANALYST IS BORN...
7] CHECK PRICE...ITS SUPREME...ALL IFS & BUTS COME LATER...
so ta is helpful isnt???
forget pattern , follow what price is telling...
it shall move up or down..
use ma..ma.x as hints..
depending upon.. your time frame.. uplimit...price target
down limit .. loss pt...
now observe PRICE...WHO IS WILLING BULLOR BEAR...
join the winner..
trend is nothing but strengh in direction..
[ i am lucky, my wife is moody..i know mood swing..]
yes the REVERSE CAN HAPPEN ANY TIME..
[ I AM LUCKY..MY BOSS knew share,,trade..understand time management..single direction minded..go and get it..always ready for worst case scenario..a man who executed and guide 20 projects..
flexibility..calmness. puzzlesolving..direction orientation..natural]

7]now comes entry..here the puzzle starts..
breakout..
pullback
retracement..
oversold condition..
as per me...all of them given SUCCESS to me..at partcular time..
definitely failed in different market condition..
YES THE VARIABLE.. MARKET..CONDITION..STRATEGY CHANGE ACCORDINGLY..
STUDY NEWS FLOW,,ITS REACTION ..DEFINITELY ..U CAN TELL HOW
PRICE SHALL BEHAVE..
if wrong ..stoploss is there to safe guard..
8] my strength..academic knowledge of statistics..+ operation research
study and play chess..as amateur32yr..
work as driller..project executor..
9] nonfinance background..poor knowledge.in basic computer..
THIS 2 R MY WEAKNESS..

 

[oilman5]

DIARY WRITING A MUST FOR ANY TRADER..HERE I LAGG..
I CAN NOT..[HI I WORK 12HR ADAY..5 DAYS WEEK..]
+ PERSUE..TRADING HOBBY..
so i suggest weekly once writing,..
but ,u pro write daily..my advise to all ..newbees..

 

[oilman5]

now u must experiment..
as amateur.. min. 3 entry and exit style...
as pro as much as u can...
more than 30 stock system i personally tested..
std software../ can do it...
for conceptual development bil william MUST...
LISTEN TO RAKESH JUNJUNWALA...
ANY PRO CAN TEACH U..
provided u honestly know your strength and weakness..
hard part is TO MODIFY ..YOU..YOUR HABIT..
earlier u start is better..

 

[oilman5]

trading plan..
recently.. many a teach it..
money management..u learn it..
when to pyramid ..when to fold..
PRACTICE THEM IN REAL TIME IS DIFFICULT..
I CONFESS INTRADAY I NEVER DO IT RIGHTLY..
IN WEEKLY SIGNAL BASE ENTRY..I DO OCCATIONAL RIGHT

NEWS STUDY..
by far capitalmarket.com..best..
openion and info use .. moneycontrol.com
equitymaster ok..
i am told motilal excellent..by i dont know..
ask any fund manager..
learn how they make openion..its not the openion BUT PROCESS OF MAKING IT..HERE LIES KEY..
last but not the least..
never feel stress..[in profit orloss live as stoic]

SO NOW U R ATRADER..
OILMAN 5

 

[Bullet]

Nice write up..

Lots of knowledge gain from this thread.

Really Experience teaches you a lot in life.

 

[oilman5]

trade element SOFTWARE

.......................
I CHOOSE..METASTOCK...OLD PRO KNOW..IT CAME .. 1993..DALAL ST. ADVERTISE SUGGEST THAT...
IN 2002...I TOOK IT...in understanding it atleast levelbasic..
1yr..then the data vendor...
in2003..i went to play some tournament..SEE AD..
MEET VIRATECH...THOSE DAYS.. MR MOHINDER..ALSO
GIVE SOME GUEST LECTURE...@IIM,C....SO UNDERSTOOD
.. ANOTHER AD....ALBATROSOFTINDIA.COM...PREPARE DATA..
FOR CALCUTTA STOCK EXCHANGE..CHARGE.. 5000/....
SO I TOOK FROM THEM...MAINLY..AS HE GAVE ME XEROX
OF META..7... 500PAGE BOOK..
SO AS THE TIME ..I GOT AV 20000/ MONTH..RETURN..
I AM FOOL.. AS SIGNAL GENARATE..I ENTRY . NEXT DAY..
USING SOME COMMON SENSE...MARKET.. SILLYER..
SO FAR GREATER FOOL PRESENT I ALWAYS CAN MAKE MONEY..
ACTUALLY..MARKET..IN BULL MODE..BUY AND HOLD SOME..
LUCK IS CORRECT WORD..
DONALD CASSIDY VIEW.. BASIC ON CHART PATTERN..
AND IT IS SELL THAT COUNTS..
THIS ARE... HELPFUL.. ATLEAST TO ME...
EQUIS.COM..READ METASTOCK TUTORIAL & FORMULA..JOURNEY
TO NEXT STEP....THOSE WHO HAVE..TRY HIS HAND ON META PROGRAMME...KNEW.. THE STAGE I HAVE GONE..
AFOOLISH...ENJOYABLE GAME..I RECALL
THOSE WHO R INTERESTED...PL. REFER...META-FORMULA.COM
THEIR VIDEO IS GOOD..PRIMER HELPS...
IN METASTOCK SITE...SOME PROGRAMMING R REALLY GOOD I CHECKED..
BUT THIS JOY FULL JOURNEY..I ENJOY..[I CREATE IT PHENOMENA]..
THEN COMES.. MY FIRST..DEBACLE..MINOR FALL . PRES HIGH...HEAD INJURY..DEC'2003..AFTER..SCAN..AMNESIA..YES I AM BED RESTED..15DAY..
I KNEW I HAVE TO GIVE UP DREAM RUN .. PROFIT MAKING VENTURES..
CHESS .. BRIDGE..STILL I HATE..HATE..THAT DAY..[i cry .. tear comes now, hey..i am an emotional fool.. in actual life..]
50% sell in one go of holding...9/10...january'04..
signal is coming...[ask any metastock trader..he has seenit]..
so by 14th january.. i seat on cash...
AGAIN MAY BE LUCKY....BY MEDICAL ADVICE..I CAN NOT TAKE LOAD..
SO I START SELLING..SO WHEN ..ITS EASY TO GET OUT..
RATIONAL BLOCKADE..OF MARKET MOVE UP..NOT WITH ME..
ATLEAST NOT THEN ..NOT NOW...
IF PRICE MOVE I HAVE TO ENTER..IF ITS TOPPING I HAVE TO GO HOME..
PLAY IS OVER...FORGET IF & BUT.. TAKE REST..
I READ NEWS PAPER...BUT I STRICTLY FOLLOW..NO TRADE.,no invest
.. ya.. i predict...i talk ..just nostalgia..no chess..no bridge..no stock..
election result..2004 May.. all trade veteran know..its an oppurtunity..
july budget.. another oppurtunity..all gone.. [ yes i am not to give stress
to brain..only..learn my job...transfer to newbombay...in may..phone connection coming only.. 27. 11.04...discipline by accident..]
so comes phone .internet..my data still life..on holiday i go to internet cafe to see..
dec takes time to study..to recollect..some useful thing.....
target plan ..30000/ month.. entry.. exit..21days swing..
stop.. 6%...style smallterm position play..
ya,,i achieved..art of being lucky..[coursey fii money flow..cram concept]

so i bought data again ..chart guru..29.1.05..1yr..5000/...again short term
play.. but profitability coming down...[actually market condition changing]