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Day 11 of journalDay 11: Took an impulsive trade, lizard brain got me again. Need more consciousness to control it. Need more practice. Other than that, logic seems to be working good, strategy seems to be profitable, only issue is with practice so that lizard brain can be brought under control. Hate the market timings - very few hours to practice, the first hour just goes in deciding what direction to take, then it remains choppy for 2-3 hours and finally it decides to give you something. Wish the market remained open longer, maybe untill 12:00 midnight like MCX.
NSE:INDUSINDBK
by Hiren1
Day 6 of journalDay 6: Had the idea of chasing the trend, however, realised that I am not yet ready for it. The SL was very far off and hence was sceptical of taking the plunge. Upon confirmation candle, did take the stand; and it turned out to be correct, got out at expected target. Learning: 1. Waiting for confirmation definitely helps 2. Do not doubt the system even in an opposite trend ( the stops are reasonable/small as per system while targets are big)...... easier said, will require sometime I guess for me to take position against what shows if my system says contrary. Untill now looks like taking the predefined SL and Tgts have been profitable (though it will miss large trends, but that later)
NSE:INDUSINDBK
by Hiren1
Trading is a waste of time Trading is a waste of time - until you do this! Welcome back for another exciting video, an educational video, and an eye-opening video for a lot of traders, and I have given it a very, very interesting title that is Trading a Waste of Time. Let's find out in this short video. Recently reading a book called The Best Loser Wins. It's written by Tom Hoggard , he goes by the name of Trader Tom on YouTube .And I urge you to check him out. There are some things that I have learned from his book and I'd like to share it with you. The particular data is of 2019 and these brokers are all located in European Union and, by law they are required to post the failure rates , how many clients are losing money in their market in their accounts. Out of a hundred clients, 89 clients were in a loss. And the situation is same for almost each and every broking houses. So eventually the brokers are making money, but the clients are not. Whenever as a beginner or even a seasoned trader, we are looking at these data and we believe that we are not in this statistical data. We are in the winning percentage in the remaining 10%, but it's not like that for the markets. We are just a statistic. Right? And even if you look at the top 10 broking forms in the world, the majority of people are in a loss. So that really makes us ask this question. Is trading really a waste of time? Are we just wasting our time in trading? And a lot of people, it's a very fine detail and a lot of people might agree with me that, in the initial stages it's really hard to be consistent in making money, right? And I'll discuss the reason with you because this particular reason is not discussed. The social media of Twitter, YouTube, it has all created an image where if you're not doubling your money every month, then you are a loser in the market. But in fact, trading is a very tough profession and it's really hard to make money and initial days protecting your money is one of the biggest tasks in surviving in the market. Protecting yourself from ruin is one of the biggest achievements in trading. So whenever we are starting our journey as a trader, where is our focus? What are the questions we are looking for? What are the things we are usually focused on? , we are on the internet looking for strategies, how to do scalping, how to do seing trading, how to use the indicators, the MACD and RSI, and how we can use different types of breakout indicators, right? These are the focal points of. I remember when I started trading, these are the things I was looking for. A hundred percent strategy, no loss strategy. These are the things that I was looking for initially, but these are usually the wrong answers. You know, in an area where 90% people are in a loss, then you need to ask yourself that. Because it has never been easier to trade because you go back 10 to 15 years, it was not easy to trade. You had to call your broker. And now we have an online trading system where we can just buy and sell stocks at an instant, right? That leads to high liquidity. And high liquidity usually means you can enter and. Very fast and you don't have to pay much for it. And you have all the tools available, especially a tool like Trading View, where you get each and every trading charts, indicators without paying a single penny. So it has never ever been easier to trade. So why are we all still losing money? We are only creating brokerage for our broking firm. This takes us to another and final topic is that in the year 2019, one Forex brokerage firm did an analysis of over 25,000 traders. And over a span of 15 months or 16 months. So that is a long period of time and over five crore trades were analyzed. So it was a very big data to analyze and that would give us a clear picture. So in that analysis it was recorded that out of hundred. , the traders were profitable in 60 of them and they lost money in 40 of them. So this is a very good data, right? Your win, your hit ratio is very high in the total amount of trades. So eventually the data is in your favor, but there's a small catch . When the traders are winning, they're winning 40 points. And when they lose, they lose around 75 points. This is a recipe for disaster. This particular thing created a lot of problems for me in the initial trades during my initial career. And this might be creating a lot of problems for people who are trading for the past one or two years in this high VIX environment because, you know, on paper, on week to week basis, you are winning And, and suddenly there's one particular day when you lose it all and that is the day when it drags your capital back to square one. So this is the biggest reason why it's very difficult for people to manage their trades. Cause it all comes down to how much you win when you win, and how much you lose when you lose. This brings us to the concept of risk . right in this modern area, uh, where option selling and creating spreads and selling naked options has been a very famous thing to do for the past couple of years. That is what happens whenever you're selling options, you have a probability of one 68%. That is a one standard deviation, right? So out of hundred trades you are going to win in 68% of them. But what you do and how you come out of the remaining 30 trades when the situation is not going to go in your favor, that is all going to matter. And that is the crux of thing that makes your journey as a successful trader. Our position in the market is very, very small for the market to know that we even exist or not. If you look at the data, if you just reverse the win and the loss points, even if you're winning only 50% of the times, then also your position is going to be in a net profit. So that's it for the guys. That makes this particular question really interesting. Is trading a waste of time? You're wasting of time, or are you smart enough to realize this thing that the other traders are doing and are in a loss? And what are you doing to improve this position and to improve your survival In this market. So that's it for you guys. I hope I have provided some value in this video, and if you found the video helpful, don't forget to follow me @piyushrawtani Trading View. And if you have any queries, feel free to post it in the comments section. Thank you very much and good night.
NSE:BANKNIFTYEducation
by piyushrawtani
13
Experience vs Time Curve of a Traders life My agenda for this video: I wanted to portray how Experience and Profits are not directly proportional to each other, but the process gives us strength to create an edge in the stock market, not become a gambler and follow something of our creation. This creation leads us to profitability as well as experience. A trader Experiences many things in life; I have demonstrated my journey in simple terms here. It's a motivational video / a road map for those blinded by call providers and tip sellers. One you should never rely on, the only person you can rely on in the stock market is not even yourself but your setup. This video contains differences between experience time and Profit Loss curves. I have converted the IDBI bank chart (it looked suitable as per the uptrend I wanted to portray in terms of experience vs. time curve ) Directions: Upside movement for this stock in this video does not mean you are profitable; it means you are gaining experience; in the start of the video, I have explained how one confuses lady luck profits with increasing experiences Purpose of this video: the sole purpose is to motivate my fellow traders to rise and learn to use the trading view community and tools and move above the infraction point in their trading life. I hope you will enjoy this video. Comment your Thoughts on improvement
NSE:IDBILong
by Averoy_Apoorv_Analysis
5