today one of my fan asked me question.
i am just normal trader like u ....
1) How did you improve your psychological risk tolerance level ? - did you gradually increase trade size as profits grew ?
Rules of jesse livermore are primary foundation of my trading style... and yes i do break them lol even he did break it
Markets have given me so much hits .. i have reached part where i feel no pain .I stand like rocky saying more more more .on Saturday evening when u busy with gf ... i am busy with my gf Charts ... that what makes my decision in advance what i am going to buy it .I am still learning .
and i think even bald guy don;t know what he will do next tomorrow he sees open interest and works according to it .
When i loose i loose badly :xD once i made 500% and i lost all of it .then i decided if capital goes half book the loss :xD
2)After taking a trade when trade goes in favor/or against how do you feel ? (At least to me if trade size is huge - I couldn't bear/hold on to the trades
And I end up with early exits or book loss panicking.
).
if trade goes in my favor my expecation increases and i try to hold till 3:00 pm.best is to watch Movin averages 50 days 100 days 200 days etc or ema 12 that i use sometimes. i put on music and just watch the green and red bars.u should put trade Sl .... normally i put 20% trade as Sl .Sl don;t work it gets hitted.
3) How much risk% on capital you take on each trade ? or how do you decide your trade size ?
Trading taught me if u are in loosing trade exit at 20% OR if it goes 50% loss Hell get out... sometimes averaging works but it doesn;t goes well. so don;t do it.don;t average looser .Always keep backup capital.
4)And some times I have seen you averaging.
Do you take the first trade(trade size - say 50%) taking in to consideration of averaging in case trade doesn't move in favor.(Next 50% at lower price). ?
i am noob trader. i take whole position in 1 go ....Averaging doesn;t result in profits. it;s better to get out and trade another day.Averaging don;t work all time.Bald guy does head and shoulder all time. he is only buyer and he is only seller that trades in lot of quantity.
5)What gives you confidence to take trades with in few minutes of opening ?
This is my fav question ... On sunday morning i had decided i will buy puts on monday . My graph was saying me market will go down whole sunday.
My losses give me confidence
your losses are best teacher never make same mistake twice ...( i didn;t carrry home loosing position today i sold off sitting on cash ^^^
don;t forget in end both call and put tend to move towards ZERO so be careful for last 10 days of expiry
better trade next month .
never carry loosing position Home ( i tend to break that rule sometime. u can always reenter tomorrow.)
You want to be successful make your own research make your own style.
never copy the jim that makes 100 or 500% coz higher they climb harder they fall
Always concentrate on your stop loss :xD
These Algo are designed in such a way they will extarck every drop of your money and make u beggar . making u addicted to it. So invest only that u can afford to loose .
You need Nerves of steel to trade option.
While amateurs go broke by taking large losses,professionals go broke by taking small profits......
i am just normal trader like u ....
1) How did you improve your psychological risk tolerance level ? - did you gradually increase trade size as profits grew ?
Rules of jesse livermore are primary foundation of my trading style... and yes i do break them lol even he did break it
Markets have given me so much hits .. i have reached part where i feel no pain .I stand like rocky saying more more more .on Saturday evening when u busy with gf ... i am busy with my gf Charts ... that what makes my decision in advance what i am going to buy it .I am still learning .
and i think even bald guy don;t know what he will do next tomorrow he sees open interest and works according to it .
When i loose i loose badly :xD once i made 500% and i lost all of it .then i decided if capital goes half book the loss :xD
2)After taking a trade when trade goes in favor/or against how do you feel ? (At least to me if trade size is huge - I couldn't bear/hold on to the trades
And I end up with early exits or book loss panicking.
).
if trade goes in my favor my expecation increases and i try to hold till 3:00 pm.best is to watch Movin averages 50 days 100 days 200 days etc or ema 12 that i use sometimes. i put on music and just watch the green and red bars.u should put trade Sl .... normally i put 20% trade as Sl .Sl don;t work it gets hitted.
3) How much risk% on capital you take on each trade ? or how do you decide your trade size ?
Trading taught me if u are in loosing trade exit at 20% OR if it goes 50% loss Hell get out... sometimes averaging works but it doesn;t goes well. so don;t do it.don;t average looser .Always keep backup capital.
4)And some times I have seen you averaging.
Do you take the first trade(trade size - say 50%) taking in to consideration of averaging in case trade doesn't move in favor.(Next 50% at lower price). ?
i am noob trader. i take whole position in 1 go ....Averaging doesn;t result in profits. it;s better to get out and trade another day.Averaging don;t work all time.Bald guy does head and shoulder all time. he is only buyer and he is only seller that trades in lot of quantity.
5)What gives you confidence to take trades with in few minutes of opening ?
This is my fav question ... On sunday morning i had decided i will buy puts on monday . My graph was saying me market will go down whole sunday.
My losses give me confidence
your losses are best teacher never make same mistake twice ...( i didn;t carrry home loosing position today i sold off sitting on cash ^^^don;t forget in end both call and put tend to move towards ZERO so be careful for last 10 days of expiry
better trade next month .
never carry loosing position Home ( i tend to break that rule sometime. u can always reenter tomorrow.)
You want to be successful make your own research make your own style.
never copy the jim that makes 100 or 500%
coz higher they climb harder they fallAlways concentrate on your stop loss :xD
These Algo are designed in such a way they will extarck every drop of your money and make u beggar . making u addicted to it. So invest only that u can afford to loose .
You need Nerves of steel to trade option.
While amateurs go broke by taking large losses,professionals go broke by taking small profits......
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