Trading Challenge II : 300% in 5 months

[MSN1979]

So, your goal is to make 300% (and you have given a maximum timeline for it). I quoted the Virat example as an analogy to how to get great by performing one step at a time (Kohli was never a classy player at the start of his career but he is now the best and it took him time; you can constrat this with Rohit Sharma)

Regarding thought process and brain reprogramming, I think you are talking something similar to Cognitive Behavioral Therapy. Setting a much higher goal than the highest goal would lead to better peformance (This is what exactly Usain Bolt did as everybody thought the human limit is 9.6 seconds). I am not sure about your performance or your milestones (since in my first post you replied you haven't set any milestones in the way) or or your prior preparations or experience. You could draw more inspiration from Scott Young in case you haven't already read him

Going by your posts, it seems more than the number you want to achieve something improbable. A disciplined way of thinking and execution and you have chosen trading as the platform to establish it (among other things I suppose). Its good to have tough goals but this looks way too tough.

Would be interested to see your backtesting results and further roadmap.
Since its the thought process you are more concerned about, why can't you think 500% in 1 month within a year since you told that if you get 300% in 15 days you think it as a success even though at the end of 5 months the five months is different.

I really like what you have said. Since the start of his first thread, I never wanted to question swagatN as I admire his way of trading and I am secret learner from his thread.

@Um I also agree with your theory of Cognitive Behavioral Therapy, many times I wondered why 300% , did he already achieve 100% 200% 250% . Usain bolt did not go directly for that target, he must be good and coming close to other targets before trying 9.6 seconds. Then he must have trained for better ways to improve his performance. I hope you got the point.

So all this time what comes to my mind is Swagatn is a profitable trader? If Yes what is his current success %.

I am still an avid supporter of his thread and would continue to do so despite all the negativity around my mind and thoughts. So I would like to close on a simple Quote "Some are born great, some achieve greatness, and some have greatness thrust upon them." I hope Swagat is one of them

 

[SwagatN]

So all this time what comes to my mind is Swagatn is a profitable trader? If Yes what is his current success %.

My work during the 1st challenge must have answered to your query. The answer is NO.

 

[MSN1979]

My work during the 1st challenge must have answered to your query. The answer is NO.

Yes I have read every post in that tread and I also remember trend on graph and your closing P&L. Its was just random thought process that kept coming to my mind.

Any other person (like most of us here) would have given a target to break even. You did something different and thats what I really like about you and your threads

 

[SwagatN]

I avoided posting here but not able to avoid seeing these discussion......
1.Why need to challenge?
2.Whom you challenge?With market......NEVER EVER CHALLENGE MARKET!!!!!!!!!!
3.ALWAYS TARGET TO REALISTIC PROFIT NOT UNREALISTIC PROFIT
4.In trading profits comes not challenging ...its automaticly comes when you confidently trade your method using your risk management....
Just my views I asked 1st question in his first challenge thread itself.....

One more question may ask here whats the realistic profit?I say anything arround 20%/PA is a realistic profit

The one thing I always have liked in your post is you always mention that these are your views and I guess you will agree that your views are not universal. And this time I also have addressed this topic that every one is entitled to have their own views and sets of belief based on their experiences, When I respect each of those what you have to say, but in no way I am going to make your experiences my limitation.

I know many people must be thinking like

1. He is not yet profitable, How come he is making this unrealistic profit goal
2. One should never make monetary target but keep process oriented goal.
3, There is no need to challenge any one or market

and so on...

So may be you still has not got the point of this challenge. The real challenge is not to any one outside, not to market, or not to show off, it is just to challenge your own inner beliefs, grow inside by breaking what you always thought to be as an impossible. (to me they are just limiting beliefs).
And why make it public ?? Because I want to grow out of my own comfort zone of hiding when making loss, and coming front only during profit.. I need to see the thing as it is.. Thats all..

 

[UberMachine]

I avoided posting here but not able to avoid seeing these discussion......
1.Why need to challenge?
2.Whom you challenge?With market......NEVER EVER CHALLENGE MARKET!!!!!!!!!!
3.ALWAYS TARGET TO REALISTIC PROFIT NOT UNREALISTIC PROFIT
4.In trading profits comes not challenging ...its automaticly comes when you confidently trade your method using your risk management....
Just my views I asked 1st question in his first challenge thread itself.....

One more question may ask here whats the realistic profit?I say anything arround 20%/PA is a realistic profit

Good you posted .
Going by his posts, I think he is more concerned at the target. And I can motivate him further by saying that almost what Galileo, Newton and Einstein did is treated as crap at first before developing into ground breaking theories. Infact, I am myself working at a strategy that could treble my investment in a quarter starting from my next quarter and its for a particular purpose. And keeping an improbable task makes you take some drastic step which might prove to be successful.
I believe @SwagatN is younger than us and he is quite clear about his objectives which is quite good.
And making 300% is not a big deal really (consistently making 20% and maintaining your profits is a tough thing).
And somebody might have bought SUNPHARMA CE in the last week and would have trebled the amount in a day (I just heard about it)
And 1 in 1000 trades is always going to double your money in a single trade. My only hitch is he is using the same methods we are using .

 

[malaya]

Nice thread, following from beginning though I have not followed your last challenge Swagat. Like your attitude towards this challenge.

Wish you success not only in this challenge but in the market for a longer duration. After seeing your thread I am inspired to create one but will give it some time . There are some other priorities now.

 

[sridhga]

Swagat, I read the latest posts on your thread. I do understand your position in this challenge. My sincere advice is to not take every thing too personal and carry in your head. Look at your challenge like an academic work. Please do not make it a do-or-die thing. After all, trading in the markets is a probability game. Nothing will come to an end in either case of your winning or losing this challenge.


I guess you are aware that SEBI is trying to kick out all small traders from the markets in few months. So this is a final call for all of us, not just you. Later we will be forced to put more money on the table for every trade etc.

I will give you a personal example from my own life. I was doing masters in Mathematics in IIT Delhi. I failed in my semester exams and the institute kicked me out. My life did not come to an end. But, I was frustrated, clueless and always got lost in my own thoughts. My mother suggested me to do another course like CA. I went and joined CA and succeeded in this course. Today as a CA, I do handle consulting work for some clients, and, I do have professional satisfaction in what I do. I have no regrets.

Nothing will come to an end. When you fall, you should try to get up to run again. That's all.

 

[sridhga]

I can give more examples. Later, I was doing some computer course in some computer coaching center while I was giving my CA final exams. One of my batch-mates is a family friend of ours. When my CA results were announced and I failed in that attempt, I told gladly all my friends that I had failed the exam. This friend was mocking at me for being excited about failure. I told her," Look! It's CA exam and if you don't fail here, then, where are you going to fail? Hey! One should fail CA exams!" In the next attempt, I passed the exam. Success and failure should be taken in our stride and we should sleep light hearted, but not weak hearted. Learn and move on should be our motto.

 

[Tejas Khoday]

Objective : Generate a profit of 300% in 20 weeks (5 months)
Start Date : 16th August 2018
End Date : 31st December 2018
Starting Capital : 3L
Target Capital : 12L
Trading Style : Intraday (1min) with Positional (EOD)
Trading Instrument : TATASTEEL, RELIANCE, BANKNIFTY current month future for intraday and Entire NIFTY 200 stocks in cash for EOD positional.
Trading Strategy and Methods :
For intraday I will trade 1m timeframe trend in the foot steps of 5m trend.
For positional I will trade Daily trend in the foot steps of Weekly trend.
Methods used are simple price action, candle pattern and volume analysis. No indicators.
Intraday Risk = 1% of trading capital
Business Risk = 20% of trading capital. i.e. at anytime my net equity is down by 20% from its peak I will consider this challenge as a failure.

================================

This is my 2nd attempt on the challenge of making a 300% return with in 5 months (20 weeks). The first attempt started on 15th of May 2018 and was supposed to run till 31st September. My trading capital was 1.5L, and final capital target was 6L. But I accepted my defeat on 2nd August 2018 with my final equity standing at a loss of 8% i.e. 12K. That was hell of a journey and I did enjoy it a lot. At a low point I accepted my failure, off-course I was done, but I am not finished.

This time I have raised my capital to 3L and thus the target is 12L. I will trade on derivative of the above mentioned scrip. More on my lessons and experiences from the 1st challenge in the subsequent post.

>>> NEVER GIVE UP <<<

Interesting start to the thread. Aggressive targets!

 

[timepass]

The one thing I always have liked in your post is you always mention that these are your views and I guess you will agree that your views are not universal. And this time I also have addressed this topic that every one is entitled to have their own views and sets of belief based on their experiences, When I respect each of those what you have to say, but in no way I am going to make your experiences my limitation.

I know many people must be thinking like

1. He is not yet profitable, How come he is making this unrealistic profit goal
2. One should never make monetary target but keep process oriented goal.
3, There is no need to challenge any one or market

and so on...

So may be you still has not got the point of this challenge. The real challenge is not to any one outside, not to market, or not to show off, it is just to challenge your own inner beliefs, grow inside by breaking what you always thought to be as an impossible. (to me they are just limiting beliefs).
And why make it public ?? Because I want to grow out of my own comfort zone of hiding when making loss, and coming front only during profit.. I need to see the thing as it is.. Thats all..

No experienced trader is going to think bad about this. It's a process and a part of the learning curve.