Learning Group -VIJAYWADA

[XRAY27]

Nifty EOD crossed 8600 level (offcourse not closed above this level) ..which is forming a upward channel..with 8420 as..crucial level

 

[XRAY27]

 

[XRAY27]

Prepare a setup/plan for trading but it should have positive expectancy

Then we have to trade with discipline

In trading, discipline simply means two things:

1. Enter a position as soon as your system triggers an entry signal.

2. Exit the position when your system triggeres an exit.

 

[bunti_k23]

How to do setup plan in price action ?its all the game of probablities.u just need to find an low risk high reward entry by gauging supply demand levels .
How to know whether pat has positive expectancy or not?
How to know maxx drawdown , like we calculate in any mechanical system ?
When to stop when ur having continue loosing streak ?



Also i want to know ur money management plan .lets say u have 100000 rs acc .how much will u put in a single trade and any maxx % u are willing to risk in a single trade?

And above all HOPE , GREED and FEAR is there to knock u down while pulling the trigger after a bad loosing streak .im sure u have gone from above situation pls throw some lights on questions
Sorry for firing the noob questions , hope u answer .thanking u in advance .
Amit

 

[shreeux]

Its right time to enter Sona Koyo Steering?

 

[praveen taneja]

Its right time to enter Sona Koyo Steering?

Asking or informing??????????

 

[shreeux]

Asking or informing??????????

Asking...............about Demand & Supply..!!!

 

[XRAY27]

How to do setup plan in price action ?its all the game of probablities.u just need to find an low risk high reward entry by gauging supply demand levels .
How to know whether pat has positive expectancy or not?
How to know maxx drawdown , like we calculate in any mechanical system ?
When to stop when ur having continue loosing streak ?

Also i want to know ur money management plan .lets say u have 100000 rs acc .how much will u put in a single trade and any maxx % u are willing to risk in a single trade?

And above all HOPE , GREED and FEAR is there to knock u down while pulling the trigger after a bad loosing streak .im sure u have gone from above situation pls throw some lights on questions
Sorry for firing the noob questions , hope u answer .thanking u in advance .
Amit

Your question and my answers

1.How to do setup plan in price action ?

First understand price action and select a set up and back test it manually

2.How to know whether pat has positive expectancy or not? How to know whether pat has positive expectancy or not?
How to know maxx drawdown , like we calculate in any mechanical system ?
When to stop when ur having continue loosing streak ? And above all HOPE , GREED and FEAR is there to knock u down while pulling the trigger after a bad loosing streak .im sure u have gone from above situation pls throw some lights on questions

PAT Generally have positive expectancy ,as it is the core of market struture..it is the so called mechanical systems(or indicator) has this problem continue loosing streak , maxx drawdown, HOPE , GREED and FEAR because it is trading on the shadow !! leaving the core of market,i have tried many so called colorful AFL's which eaten my ledger. !!! why i followed AFL ??.. PAT needs practise and follow up ...AFL's looks attractive and easy

3.Per trade i take 2% of capital..

Some of golden words for your reference from previous posts (smart trade our moderator)


Trading is a performing art. There is big gap between learning basics and few systems and becoming a consistantly profitable trader. It is in every field...can we expect that a new learner who has learnt few dance steps to perform like Sanjukta Panigrahi or few new Music class students who have just learnt sur and taal to perform like Ud Amjad Ali Khan or Ud Bismillah Khan or Pd Jasraj and mesmerise a musical concert as these veterens do ??

It requires lots and lots more than knowing few charts and systems....it needs riyaaz or practice.

Smart_trade

Further to this , I have seen that there are some singers who are perfect in sur,taal,ragas,theory of music etc...and they have done their riyaaz or practice but still they cannot win concerts...their singing is perfect in all theory and science...but they cannot mesmerise the audience...same in trading...I have seen few traders who after years of learning and practice cannot become excellent traders....they cannot build wealth by trading...there is something amiss between them and excellent traders ,they keep struggling but with efforts still they can try and be profitable traders to certain extent.

This is hard reality in trading.And if a trader realises that in later age, it could be very painful and frustrating.

Smart_trade

ST da quote of mechanical system !!!

Just trading 1-2 scrips or indices or trading 6-8 is again an individual choice. There are cases of super successful traders just trading 1 index for years and also there are instances where few successful traders go for more markets/scrips for the sake of diversification and spreading the risk. So you have to be very clear as to why you want to trade more than 3-4 counters . If you are successful in trading price action then why are you getting into more scrips and that too new mechanical systems ?? Getting good fully mechanical system with high expectancy is like getting a diamond in a coal mines in a mountain of coal. It is very difficult.You dont find diamonds lying around in plenty.

I know a few mechanical systems which my friends trade ( I dont trade them as I trade limited scrips and I am more than happy with my method which is a combination of mechanical and discretionary ...) but would you like to divert your concentration from your price action method to these methods ?? Why ?
Think about these...and be perfect in whatever method you are trading now.

Smart_trade

 

[bunti_k23]

Thank you xray bhai for ur kind reply got more clearer picture now:thumb:
:thanx:

 

[sangram1705]

nifty option ji, tata steel views please.