nac Calling JOBBERS/SCALPERS

[nac]

Dear Nac,

This writing was always there on the wall and some, Sanjay and others including me had already predicted so.

And the pace was also quite expected looking at the way you had mentioned your trading method and habit in earlier posts.

What I feel sad to know that your casual announcement that "one has to refill the trading account number of times before making profit consistently". Pls understand that this is no prerequiste to success in trading. Ofcourse most of the traders undergo this, but you taking 'pride' in wiping out your capital just to make your count of refilling start is unwelcome.

Grow up Nac, that's what I can say, you have long long way to go. If time permits visit some of my comments on my Risk Management in the thread 'Thoughts on Risk Management" (post # 61 onwards). Also review commnets made by veterans/regulars viz Oilman5, AW10, Linkon7, Vijay and others in the same thread, you will get much needed perspective.


Regards,

p.s.: Trading is all about managing Risk, Risk and Risk. It's a game and your SOLE objective is to REMAIN IN THE GAME for long long time. PROFIT is the byproduct in the due course.

I am not taking pride in doing what I ain't wanted to... Unfortunately I happened to do that... I am really broken with the result. I sure visit the thread. Thank you.

 

[nac]

Dear Nac,

Also note timing of my last post and the one I had posted before that, you may unhesitantly assume that I was waiting for this day. It is safe for you to assume that I would be visiting this thread quite regularly and quitely too. A cue you may take here which may help you in your trading - be more observant, wait for 'opportunities' to come to you instead of you searching them in the dark.

In trading, 'opportunities' have NO OPTION but to come to people WHO WAIT for them. Strike at the right time and strike hard.

Regards,

No I am not assuming that you would be expecting this day... Really, I didn't think that I would be in this position.

 

[nac]

^TNSN

I am following one of your saying... Not being expressive in public. You know that I was expressing everyday... Now, I ain't open my mouth till the end of the month. I am learning things slowly. Slowly become successful. I want this thread to be continued with my numbers are positive. Hope this will happen in coming days...

 

[ranger123]

TNSN sir, I am much impressed with your post and has also followed your advice of not sharing much feeling and activity with fellows friends here. I think you has many experience in this field which you are expressing by way of advice and sugjestions to us.

You have also nicely mentioned your risk managment style in other post also. I want to know your performance in this field, how you target profits and how you take profits. Pls share your experience and profit taking method for our benifit. And also are you full time trader. Kindly advise.

Thank you and best luck

 

[iamaaditya]

Dear Nac,

This writing was always there on the wall and some, Sanjay and others including me had already predicted so.

And the pace was also quite expected looking at the way you had mentioned your trading method and habit in earlier posts.

What I feel sad to know that your casual announcement that "one has to refill the trading account number of times before making profit consistently". Pls understand that this is no prerequiste to success in trading. Ofcourse most of the traders undergo this, but you taking 'pride' in wiping out your capital just to make your count of refilling start is unwelcome.

Grow up Nac, that's what I can say, you have long long way to go. If time permits visit some of my comments on my Risk Management in the thread 'Thoughts on Risk Management" (post # 61 onwards). Also review commnets made by veterans/regulars viz Oilman5, AW10, Linkon7, Vijay and others in the same thread, you will get much needed perspective.


Regards,

p.s.: Trading is all about managing Risk, Risk and Risk. It's a game and your SOLE objective is to REMAIN IN THE GAME for long long time. PROFIT is the byproduct in the due course.

I cannot agree more to what tnsn2345 has said. Risk Management should be the prime focus.

To improve your understand on risk management please read the pdf by Dr. Van Tharp "Your way to financial freedom". And to practice the concepts he has devised a wonderful trading game (Its called TradingGame, you can get it from iitm.com). Challenge yourself to complete all the levels before you can think of trading in real again. (this weekend is gr8 time to start). Remember to follow the rules on position sizing each time you trade (in the game) and try to cross the level with least DRAWDOWN.

Why don't you also post your tradingsim.com score here regulary (this will make you feel responsible and careful) (i am suggesting to post tradingsim.com results and not your personal trading results, so i hope tnsn will permit you that).

If any of the word of anyone here incl mine, tnsn or anyone else sounds harsh to you remember it is for your good and it's some of our experience that is advising you.

Nothing would make me or anyone else for that matter more happier than to see a trader rise from abyss and trade into financial freedom as Dr. Van tharp would like to put.

 

[sanjay1876]

Hi nac and everyone else who reads this thread regularly!!!

I'm really beginning to doubt nac and i'm thinking that he is playing some kind of psychological game with us. People lose huge amount of money in markets, nothing new about it. The way and the rate of loss you claim amuses me.
Nevertheless there are people who have great illusion about themselves and will not accept it at any cost (most of us have some or other illusion about ourselves but have the ability to realise truth when made to face it). If the guy has knowingly lent his money for trading then I AM SORRY TO SAY SO his money too deserves to go down the drain.

I started the post thinking that i'll write some encouraging words and give some insight about the circumstances in which I trade, but your casual approach makes me doubt you.
If you are really making such losses my advice will be:
please get out of market immediatley and save whatever you have left.

Sorry.

 

[iamaaditya]

Hi nac and everyone else who reads this thread regularly!!!

I'm really beginning to doubt nac and i'm thinking that he is playing some kind of psychological game with us.

I started the post thinking that i'll write some encouraging words and give some insight about the circumstances in which I trade, but your casual approach makes me doubt you.
If you are really making such losses my advice will be:
please get out of market immediatley and save whatever you have left.

Sorry.

I don't know if nac is playing games with us but if he is true i feel we need to encourage him. Certainly i am not telling anyone that Trading is Easy or don't worry about your Failures (rather worry worry worry about every single loss you made, every week you ended in negative, and study the trade, find the reason and your mistake and IMPROVE upon IT, never REPEAT IT).

It is easy for us to tell me close and go (may be this way he will save some of his money, because the way he is going, if there were options on NAC's trade, i would happily buy PUT options he he ) but sanjay if you read his very first post of this forum he has stated not to "tell him to close trading", if he is determined to trade (knowing the consequences) we have to make his path little easier and not berate him ( i am sure he is mature enough to understand both the options as well as risks involved in trading).

Well i would like to quote a small story from phantom of pits, it tells how encouragement can help change your trade/life(don't want to spoil the flow, better read it)

This story I am going to tell you was told to me by a very brilliant mind. I like the story better the way I like to tell it but will tell it the way it was told to me.
One year a math teacher in the geometry class had more students that usual. Thirty-eight students were just too many to have the time to give one-on-one guidance as required. Not only were there too many students in this particular class but the teacher also had more bad students than usual.
One particular student had never gotten grades above Ds in all his school years. His name was Robbie, short from Robert. Robbie was the class clown and had been his entire life because that is what the other students expected of him. He had no interest in school and would brag he would quit school at the age of 16 in a few short months.
The teacher had three Robert's in his class: Rob, Robbie and Robert. It was pretty easy for the teacher after two weeks to keep the Robert's clear, as the one who went by Robert was the top student in math.
Five weeks into the school year the first PTA meeting was coming up. The teacher told each of the students to have their parents come to the PTA meeting. That night only about a third of the parents showed up. The teacher knew by how well the students were doing just which parents would most likely show up at the meeting. The teacher took three to five minutes with each set of parents to chat and find out a little about them.
The last parents were a little backwards and shy, but the teacher shook their hands and made them feel at ease. The teacher never got an answer when they were asked their name so the answer was never known. The parents asked the teacher, "How is my Robert doing in class?"
The teacher thought and then answered, "I have never had such a good student in my class who takes so much interest and is a delight to have as an example to my other students. Why, your son is a living example of those who will be leaders in our future. It's just wonderful to know that in our lifetime we will see youngsters like Robert grow up to make us all proud to have known him!"
The parents of Robert stood a little taller and smiled as they left the PTA meeting that night.
Over the next three months going into the end of the first semester the teacher noticed his students doing better than he had expected up to this point. Trying to comprehend how his teaching had improved and what he had done differently, the teacher spent more time trying to improve. At the end of the school year, the teacher was in his own glory as no student had failed -- not even the class clown Robbie. In fact, Robbie had gotten all his assignments done, taken a math scholarship exam and finished with the top score nationwide. He had won a math scholarship as a sophomore. The teacher was really proud to have taught so well.
The last day of class, Robbie waited until everyone had left and then headed to the teacher's desk to talk. Robbie held out his hand and said, "My Mother told me what you said about me! I have never had anyone ever want me in their class before or even cared if I learned. Thank you for giving me insight into my life!"
The teacher began to cry as all the efforts to improve as a teacher reflected back to the PTA meeting at the beginning the year. You see, the teacher thought that, when the parents asked how Robert was doing, it was Robert's parents and not Robbie's parents. The teacher had made the biggest mistake of his life at that PTA meeting by assuming he was talking about the right Robert. Not only was it the biggest mistake but it also was the best mistake of his life.
Can you imagine a grown adult crying? Isn't it refreshing to know we as adults can learn from youngsters and it's ok for us to cry! At one time or another in life we see a flash of light in thought looking back and realize what we have just been given.
ALS: Pretty touching. You say you like to tell it differently?
POP: I like to substitute Robbie's name and instead use "a brilliant trader." You must understand that somewhere as a trader the light must come on for you. There will be a point that the biggest mistake of your trading career will be the best mistake you have ever made.

 

[sanjay1876]

if he is determined to trade (knowing the consequences) we have to make his path little easier and not berate him

I'm not trying to berate him. I have unequivocally said sorry where I felt my words were harsh.
And the story you point is exactly what I was saying. That we all have illusions about overselves (can be both ways, like overestimating our real ability or like underestimating our real ability). But most of us can realise the truth when pointed out, like in Robbies case he realised his true ability when pointed out. Story is good so far. Important thing is that Robbie had inherent ability all the time, but what if he really did not have the ability?
I will give you an illustration:
Lets take some television programme like Indian Idol. There are some contestants who come for auditons, and from very begining it is clear that they cannot sing no matter what. And these contestants consider themselves to be best singers and keep insisting it. These types make fool of themselves. Now, ther are other types. They may not sing their best, but have the ability. So after few applause encouragement they begin to show big improvement in their singing.

I have found two things in him which maybe the reason he is making losses(if he really is). One he is very stubborn, and second he is not using common sense otherwise 27% losses in single day in this market is next to impossible for person trying to make profits.

If I were to make a suggestion to him then i'll tell him to be more flexible and use his own common sense. All the stuff that you read in the books can be fu..ed.

One needs to always encourage right person, but not everyone. The Pig can never become beautiful no matter how much makeup you put on it.

Also, if someone says i'm going to commit suicide and don't stop me from doing so. What will you do?

 

[MarketRider]

27 % loss in a single day.!!...
nac, just follow one rule maximum 2% loss and trading closed for that day...but watch the market and gain experience that day...this way atleast your capital last longer......

 

[anuragmunjal]

I'm not trying to berate him. I have unequivocally said sorry where I felt my words were harsh.
And the story you point is exactly what I was saying. That we all have illusions about overselves (can be both ways, like overestimating our real ability or like underestimating our real ability). But most of us can realise the truth when pointed out, like in Robbies case he realised his true ability when pointed out. Story is good so far. Important thing is that Robbie had inherent ability all the time, but what if he really did not have the ability?
I will give you an illustration:
Lets take some television programme like Indian Idol. There are some contestants who come for auditons, and from very begining it is clear that they cannot sing no matter what. And these contestants consider themselves to be best singers and keep insisting it. These types make fool of themselves. Now, ther are other types. They may not sing their best, but have the ability. So after few applause encouragement they begin to show big improvement in their singing.

I have found two things in him which maybe the reason he is making losses(if he really is). One he is very stubborn, and second he is not using common sense otherwise 27% losses in single day in this market is next to impossible for person trying to make profits.

If I were to make a suggestion to him then i'll tell him to be more flexible and use his own common sense. All the stuff that you read in the books can be fu..ed.

One needs to always encourage right person, but not everyone. The Pig can never become beautiful no matter how much makeup you put on it.

Also, if someone says i'm going to commit suicide and don't stop me from doing so. What will you do?

hi
just go to youtube and watch a video of a caterpillar turning into a butterfly. it is a very difficult and painful process after which the caterpillar turns into a beautiful butterfly. the sad reality is that if someone tries to help the caterpillar to come out of its pupa, the caterpillar will not survive as a butterfly. it has to endure that pain himself in order to gain the strength it requires later in life.

what u are trying to teach Nac about risk management and money management has been written many times over in many of the threads @ traderji. I am sure Nac would have gone thru all this many times over. maybe this is the time where he is trying to come out of his "shell" and maybe after enduring this pain , he turns into a 'beautiful butterfly'.

regards

Anurag