Hi
A - I am planning to take up Trading as my full time career. - Ok.
B - For the past 1 week I am just trying to day trade (20 trades - 100 points a day). Finding it really difficult and I am getting exhausted.
WOW, WHAT AN EFFORT. NOT CAN IMAGINE THAT ONE IS DOING THAT :lol::rofl:
C- The reason being I put my entire attention to trading.:thumb:
Keep to the last point and ask again in one year. If you are still doing day trading, then you are the man which deserves a private lesson.
Take care and good success for your trades ( And this I mean very serious, in case you stand this time. )
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Seriously : Change your time frame to a larger one than day trading. Day trading is for pros and here in this forum, many of you think you are already pros just by reading some threads. How stupid !
Most of you spent years to learn your jobs and now they think, they can trade in a few days by reading in a forum and even will make the same money as they do in there jobs or even more, just by doing that.
Nobody can help such minds !!
Only tipping on there own heads with there own fingers can heal that. ( By the way, I do not speak about you, I speak to the readers which have this mind )
I do not know what you trade : Futures or options. Any way, check the trends of longer time frames like months, go down to two weeks and plan your trade at the begin on a weekly time frame or maybe two or three day time frame.
Give your self time to feel comfortable to the time frame you trade and if you feel, you are comfortable with this time frame, you slowly, and I mean slowly test a shorter time frame.
Ask your self then, if you feel comfortable with that and so on. Test your time frame.
But real serious : Giving up after one week is really not some thing, which shows any strength of your personality. Weak, weak, weak.
Take care
DanPickUp
Thanks DanPickUp,
Thanks a lot for your excellent and caring words.
I am an IT professional by qualification and exp.
I was working with a reputed IT company in the Capital Markets division India/Abroad and hence the passion for trading.
I am not new to trading.I started my trading in 2004.
Trading is a passion/obsession for me.
Burnt my fingers early in my trading career.
Made all the mistakes of newbie,trader,Investor.
In my career I have closely interacted with several traders/analysts/brokers.Went to court for a friend of mine who was fraudulently cheated by a sub-broker.
Realized soon that this is a cut throat profession and IMO (a white collared legal robery) done by highly paid professionals (aka smart money) with blessings from govt(the highest beneficiary) and hence my words of experience.
What ever I wrote in the forum is out of my personal experience + experiences of fellow friend traders.
I trade only Futures/Options.
I do trade in the direction of higher time frame or enter trend reversals at support levels.
Previously used to trade from office and hence I couldn't dedicate my full attention towards trading.
Quantitative trading/Momentum trading is my cup of tea.
That suited me well since I could trade from my office with out worries.
+ Daily few quick trades from office.
Definitely I am not a professional in trading.
I am still learning and trying to improve myself.
There is still a lot to experience as a trader.
I am quiet happy with my personal day trading.
My ambition to start my prop trading company which got ignited when I was working abroad for an Investment Banking company.
I am quite cautiously confident that I could do that well.
I am devising trading strategies,tools and scalping is one among that.
I am new to Scalping and I am not used to this style of trading.
It is only a trial attempt before starting my Prop trading company.
Not that I am weak it is only I am tired
My sincere heart felt thanks once again for your kind and caring words.
Looking for guidance from experienced traders like you.
Best Regards,
-JK
