Saturday, 30 August 2014

12 comments:

  1. Wow impressive Dave. Trading just half session.
    As you said this was a tough month, you managed it very well. Lot to learn from you.

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    1. xrtrader

      Thanks. Every day is a challenge. Lot to learn from the market.

      URD

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  2. Dave,
    I think its a good performance. It shows that you were not restless or greedy for trade.You have accepted the limitations of time and tried best to get from it.

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  3. Daveji,

    Just focus on the job at hand and take trades only when the desired set up presents itself. Never for a moment think about the result. This is what I could learn from your self assessment.

    Thanks for the words of wisdom.

    S.Karthikeyan

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    1. SK

      Thanks. I am fully aware of limitation of trading a particular session and not the whole day. That is not an issue. I feel the issue is can we manage to get what we want from the market trading only a few hours a day. If we add one or two more instruments to trade along with Nifty, I feel the desired results can be achieved. Then there will be no need to trade whole day. I feel it will be an experiment worth trying.

      URD

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  4. Thanks a lot URD. I wish someday I could be as good a trader as you are....
    Thanks for sharing
    Trader-in-the-Zone

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    1. TraderIn TheZONE

      Thanks. I am "work in progress." I also wish to be a good trader and ultimately trading for living.

      URD

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  5. URD
    Great trading. A lot to learn from your trade management.
    "If we add one or two more instruments to trade along with Nifty, I feel the desired results can be achieved." -----
    You absolutely nailed it when you wrote the above thought!!
    Nifty and any instrument of our choice is more than enough to make more than a living from the market.
    (My preferred instrument/s: Tata steel, REC, Yes bank)
    All the very best and I wish that one day you will become a full time trader.

    TBP

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    1. TBP

      Thank you very much. It feels good to see that you are also thinking on the same lines. I have started tracking Tata steel, Tata motors, Hindalco and DLF in the morning session. They all offer good intraday moves to trade. My initial assessment is that DPs like PDH, PDL PDC BRN work as good as it works on the Nifty. So we can apply the same DP trading tactics there. Issue with me is the focus. I have traded only the single instrument so far and I do not have any problem with concentrating and the thought process when I trade single instrument. Trading more than one instrument, I think, would demand more attention, more focus and there will be a chance of losing the focus and goofing up with the thought process.

      You have been trading Nifty, Tata steel successfully. Please tell me how do you handle them? What is your experience? Any issues with focus?.

      URD

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  6. URD
    Thanks for the words.
    I have traded Tata steel for some time now. The moves are good and smooth. TS has enough liquidity to fill a position quickly just like Nifty. Many times TS has larger volumes that NF alone.
    But having said that we need different level of concentration trading two or more instruments. I would prefer two instruments on different screens as it will make visibility of details and decision making faster.
    Different money management rules have to be applied.
    If we trade with 2 lakhs of capital , with due MM rules, and risking 1% per trade, we can trade only one lot with two lakhs, if we are trading futures.
    Nifty along with any instrument of your choice makes a deadly combination.

    Thanks
    TBP

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    1. TBP

      Thanks for expressing your thoughts. I will work on that.

      URD

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