Mistakes i made when i was new to trading..

A thread :

Watched news for tips ( it's ok to see interviews and all, but avoid watching it for tips )
Wanted everyone's view for my trades ( the more views you get, the more confused you will eventually be, focus on your own study )
Over traded ( more number of trades doesn't means over trading... Trading without plan is over trading )
Leverage trading ( it's ok to do it, but should be avoided in first year of trading or atleast till you have proper knowledge of the risk involved )
Tried to get rich quick, so traded huge quantity ( better to trade as per risk appetite and position sizing amd not try to bet all the money on a few trades or a single trade )
Got jealous of other trader's profits ( be content with your profits, people post their profits, not their losses. Don't fall for it )
Tried to learn all the indicators ( a few are enough and at one point of time, only price action is enough )
Always thought that someone has the holy grail of trading ( no one does )
Shifted to hope category instead of taking stop loss ( respect stop loss if you want to stay in this game )
Revenge trading ( never try to cover your losses, there's nothing like making up for losses. Those were lessons that you had to learn the hard way, don't feel bad about it )

Made a lot more mistakes, will discuss later.

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Complete Backtest and Indicator link

๐Ÿงต A Thread ๐Ÿงต

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๐Ÿ”ธ Monthly Option Buying
๐Ÿ”ธ 50 ema on 3 min timeframe
๐Ÿ”ธ Supertrend 10 , 3
๐Ÿ”ธ Chart : Banknifty , Nifty Futures as we backtested on futures
๐Ÿ”ธ Entry 9:20 to 3:00
๐Ÿ”ธ Max 3 Entries per day
๐Ÿ”ธ Premium nearest to 200 Rs only

[2/18]

Why Monthly Option buying ?
๐Ÿ”ธ Less theta decay compared to weekly options
๐Ÿ”ธ Less Volatility
๐Ÿ”ธ Supertrend and MA Settings
[3/18]


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[4/18]

๐—œ๐—ป๐—ฑ๐—ถ๐—ฐ๐—ฎ๐˜๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐˜๐˜๐—ถ๐—ป๐—ด๐˜€ :
๐Ÿ”ธ Max 6 Trades per day ( Both CE and PE buy)
๐Ÿ”ธ Timings 9:20 am to 3:00 pm
๐Ÿ”ธ Supertrend : 10,3
๐Ÿ”ธ Moving Average 50 ema
[5/18]

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