Raunak Sir,
I thought the downtrend initially is just a ploy to shake off weak players. I kept averaging my positions at every dip...
And then, finally, there was no bounce back... :rofl:
Using gut feeling to trade is really a bad idea... I tell you...
I more than ever need a systematic way to enter and exit trades... Maybe SH315 or Bollingerbands... I don't know... :sigh:
I thought the downtrend initially is just a ploy to shake off weak players. I kept averaging my positions at every dip...
And then, finally, there was no bounce back... :rofl:
Using gut feeling to trade is really a bad idea... I tell you...
I more than ever need a systematic way to enter and exit trades... Maybe SH315 or Bollingerbands... I don't know... :sigh:
I have met only personally in my life 1 person who is a discretionary trader.
Couldn't interact him much bcoz he was very much a stranger to me.
He is pursuing his PHD.
He studied the markets 6 years with out trading.
Started with a capital of 8 lakhs lost 5.3 lakhs in 6 months in day trading.
Trust me with a trading capital of 2.7 lakhs he made 2.4 crores in 8 months in day trading his positional stocks using broker's leverage.
He said I realised I was just doing in the opposite direction.When I changed myself profits started flowing in.
Keeps track of few stocks.
Daily read the fundamentals.
When asked he said I don't know but the scripts just tell me if they are going to move up or not.He is absolutely in sync with the markets.
When SAIL was trading around 228 he said it is going to touch 196 levels next month.Till then I will sell on a daily basis and cover it at the end of the day.
Daily does his home work based on delivery volume and other stuffs which he didn't reveal.
It happened as he predicted.
He is a contrarian trader with strong knowledge of economy and fundamentals.
Like Raunak Bhai and Dan who stresses to develop the intuition or gut - these people are 1 in a million.
For us to start with we need a system and strict rules and the most important thing is to preserve our capital till we learn trading.
Please try to differentiate between discretion and false hope.
Please remember to discard ego in due process.
I am finding it difficult.
So as you said it is better to follow a system to start with.
It takes time to develop gut and fundamentals and economy.
Best Regards,
JK