vanathi

Newbie's Corner - Confidence about trading

Education
NSE:CNXMETAL   NIFTY METAL
Once a newbie trader becomes an experienced newbie trader with knowledge, why he is still struggling in trading? With good trading strategies, good trade setups, and technical knowledge about indicators, he will be trading with confidence. But why he is not having confidence?
I will explain two important factors here. First one is the expectation of holy grail strategy or trade setup. This type of expectation comes when a person is not ready to understand that 100% success trades are not possible. People who have this type of expectation will follow one strategy for some time, then switch to another one when they get few losing trades. They spend their money, time and energy in finding new strategies & testing it for some time before finding some other new strategy.
Next factor is not having sufficient understanding about the strategy or trade setup. It makes a trader to lose interest on his strategy once he encounters few losing trades.
The solution to trade confidently lies in back testing. Usually professional traders back test their strategy at least for the past 4 yrs. This makes them to understand how their strategy works in different market situation and to know the trading edge. Have you back tested your strategy? If not now is the time for back testing...
Success Log.For live maket analysis follow me in telegram. https://t.me/Analysis4Newbie
To learn about system trading, https://neomechanicaltrader.home.blog/

Comments

your nifty and BN analysis I follow. awesome.
appreciate if you could provide resistance and support levels too
+1 Reply
madam how to backtest manual drawing based patterns for last 5ys
+1 Reply
vanathi SSR1997
@SSR1997, If you draw strategically, it can be back tested. Random drawing wont help.
+1 Reply
This is what exactly happeneing with me ... After many profitable trades now i have continous lossing trades and it ate all my profits . Shoud i still stick with it ?
Reply
How and from where I can get last 4 years 2 min chart data of nifty and banknifty so that I can backtest my strategy
Reply
Thanks for the Valuable Inputs....
Reply
vanathi parabrakesh82
@parabrakesh82, Most welcome.
Reply
Thanks for this 👌🏻
Reply
vanathi DalalStreetTrader
@DalalStreetTrader, Welcome.
Reply
Thank you Madam...
Reply