A traders goes through many phases before becoming Profitable.
The first phase is the " APUN HI BHAGWAN HAI" phase-
FEAR - It’s the re-experience of failure in advance.
Many traders face the issue of Not entering in trades because of fear.
A thread on How to pull the trigger when the opportunity knocks.
A traders goes through many phases before becoming Profitable.
The first phase is the " APUN HI BHAGWAN HAI" phase-
So we start trading, and like most guys by beginners luck we start making good, we start to calculate how much money we will make in next 1yr, 5 yrs, Greed start to Hop in.
We take big positions as we don’t have any FEAR cause we haven't seen those bad phases yet.
Now we get the Big blow, account down -50%, or in many cases wiped out.
The first phase ends here.
"THE LEARNING PHASE"-
Now we know that we were just lucky initially and now we have to learn why we get those losses, so we start learning concepts , fundamental, Technicals.
Because we are not making profits and neither big losses,but we are loosing a lot of time
Now the biggest problem we get is We fear of pulling the trigger, and this is going to be the biggest problem for us now.
So now we know How we reached at this point, where we fear taking the trade.
1. DON’T TRADE THE P/L ,TRADE THE MARKETS-
Traders are obsessed with the P/L , and that is why they behave irrationally while taking decisions in trading.
Track your trade results in terms of R and not in P/L terms
This seems a small thing but will make a big difference trust me.
One of the reason traders are uncomfortable in taking a trade is that they are not comfortable in taking the risk they are taking currently.
Then increase the risk over time.
Okay I get it, it feels good when you have a winning trade, but my friend in trading you cant win all the time.
Even the High accuracy traders have 60-70% accuracy, and many have 30-40% accuracy and still make more than you may think of.
4. "Yaar 12k par to Nifty liya nahi, 14k par lekar phas gaye to"
This is why most of the people are not able to take trades, because they think that ,
As they think trend will change when they enter, and it keeps to go up and up and up.
One aspect that may have stopping you from taking the trade is that you don’t have much confidence in your edge.
As a discretionary trader its important to go through historical charts as much as you can, and then screen time play a big role.
Even if you are going to fail or succeed,you should be the reason for that and not your broker, not your twitter friend, not anyone else
Just take trades on what you know and improve over time,
More from Trader knight
More from Trading
DJ @ITRADE191 multiple chart analysis for INTRADAY TRADING.
1. Core setup
2. Pivot points trades
3. PDH/PDL trades
4. Open interest addictions combined with rejections on charts.
5. Website to confirm bias
Very quick read.
Share if you liked for the benefit of everyone.
•Main setup of @ITRADE191
He used this setup daily for all trades.
1. EMA crossover 10/20
2. Supertrend 10/3
3. Vwap
4. RSI >
•Volume always greater than
•Candle Rejecting from
•Pivot settings
1. Core setup
2. Pivot points trades
3. PDH/PDL trades
4. Open interest addictions combined with rejections on charts.
5. Website to confirm bias
Very quick read.
Share if you liked for the benefit of everyone.
•Main setup of @ITRADE191
He used this setup daily for all trades.
1. EMA crossover 10/20
2. Supertrend 10/3
3. Vwap
4. RSI >
@MiteshFan @Mitesh_Engr @Abhishekkar_ MY TRADING SETUP .... I've been using it for a long time .. result good try it \U0001f607 pic.twitter.com/XThUD0ftbl
— itrade(DJ) (@ITRADE191) June 13, 2020
•Volume always greater than
Volume Should always be above 20 pic.twitter.com/CPgxLgpPKF
— itrade(DJ) (@ITRADE191) June 13, 2020
•Candle Rejecting from
— itrade(DJ) (@ITRADE191) August 25, 2020
•Pivot settings
— itrade(DJ) (@ITRADE191) October 20, 2020
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"I lied about my basic beliefs in order to keep a prestigious job. Now that it will be zero-cost to me, I have a few things to say."
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
As a dean of a major academic institution, I could not have said this. But I will now. Requiring such statements in applications for appointments and promotions is an affront to academic freedom, and diminishes the true value of diversity, equity of inclusion by trivializing it. https://t.co/NfcI5VLODi
— Jeffrey Flier (@jflier) November 10, 2018
We know that elite institutions like the one Flier was in (partial) charge of rely on irrelevant status markers like private school education, whiteness, legacy, and ability to charm an old white guy at an interview.
Harvard's discriminatory policies are becoming increasingly well known, across the political spectrum (see, e.g., the recent lawsuit on discrimination against East Asian applications.)
It's refreshing to hear a senior administrator admits to personally opposing policies that attempt to remedy these basic flaws. These are flaws that harm his institution's ability to do cutting-edge research and to serve the public.
Harvard is being eclipsed by institutions that have different ideas about how to run a 21st Century institution. Stanford, for one; the UC system; the "public Ivys".
