Wednesday, 30 September 2015

Tuesday, 29 September 2015

Nifty Future 29092015

Today I have put in the actual thought process that I was going through during the day.  I tried to read the price action and thought about its possible implications.  Took only one trade as written above.

Monday, 28 September 2015

Nifty Future 28092015

Took two trades as marked.  First was BOF of BRN. It was kind of premature trade.  Scratched it. Another one was BOF of Range High.  Booked it around PDL.

Thursday, 24 September 2015

Wednesday, 23 September 2015

Nifty Future 23052015

Nifty opened full gap down. Expected range bound move in the morning and attempted a short as BOF of PDL.  Got stopped out. Missed the up move. Later after breaking out of BRN it pulled back.  I wanted to go long attempting to buy range low and put the limit order, missed it by few points. Then took the direct BO of HOD then. Booked on FTC kind of setup. No other trades.

Tuesday, 22 September 2015

Nifty F&O 22092015

It traded in a 20 point narrow range for long time till noon and then broke out. Entered on BO and could capture most of the vertical down move.  No other trades.

Now here is the chart of 8000PE.  If you had bought it exactly at the point where you sold the future, your money would have more than tripled.
8000PE chart,

Monday, 21 September 2015

Nifty Future 21092015

It opened full gap down.  Took three trades as marked. First went well, second scratched and third gave little profit.

Trading as a Business

An original article on trading as a business was published on Investopedia by Jean Folger.  I have taken that article and modified a bit to post here.

The idea of trading for a living is appealing to many people: you get to be your own boss, set your own schedule and work from home while enjoying virtually unlimited income potential. In addition to these factors, anyone with a computer, Internet connection and a small trading account can give it a try.

Because of these factors, people often fail to acknowledge or realize the educational, financial, emotional and time commitments that are required to build a successful trading business. Here are some quick facts about trading:

  • About 90% of day traders fail within the first year
  • There is no way to eliminate risk in trading
  • There is no trading system that wins 100% of the time
  • You will always have losing trades, even if you are a rock star trader
  • You need money to make money – it will take a long time to get rich with a small trading account
  • Successful independent traders can earn a comfortable income, but most do not become “filthy rich”

The ease with which you can start trading (just open a trading account and hit the “buy” button) in no way implies that becoming a successful and profitable trader is easy. Many of the 90% of traders who fail within the first year do so because they start trading without having developed any type of logical business or trading plan.  The indulge into the trading without acquiring any proper knowledge and education.  Any business entered into with such a lack of planning is likely to fail.

There is also a lot of deception associated with learning the business of trading. Late night infomercials and hundreds of Web sites would have you believe that trading is easy and that anyone can generate a huge and consistent income from the financial markets. While there may be the rare case where a trader manages to make a huge amount of money in a short time, this is not the norm. For most people, trading involves a lot of hard work before becoming successful.

As a business, trading requires constant research, evaluation and discipline. There are no guarantees in the trading business, and you could work a 40-hour week and end up losing money.

If you want to become a part-time or full-time trader, it is important that you take the time and first educate yourself, then do some research and plan your trading business; these are essential steps in your overall success as a trader. This is not a profession at which you will become skilled overnight. Traders who start trading too soon without educating themselves often find themselves back at the beginning, but with a zero or negligible trading capital. Traders who have realistic expectations and who treat trading as a business – and not as a hobby or a get-rich-quick scheme – are more likely to beat the odds and become part of the group of traders who succeed.

Video Tutorial and Mentoring Program is an endeavor towards help you take your first baby step in starting Trading as a business.  Its only objective is to make you well-educated and well-prepared on all different aspects of day trading and treating it as a business.

Saturday, 19 September 2015

Mock trading example

Here is the example of mock trading session that was done as part of the Hand-holding program. Shashank was doing the simulation and he took the pain to record the session.  I thank you Shashank for putting the efforts.  Mock trading is the most important part of the program.  It allows to put into the practice the concepts that were learned without any damage to the account.  I think there is no other better way to teach someone this much efficiently.  How would you teach someone driving a car without actually letting him drive a car on the road.

Shashank is from Banglore and I am from Vadodara, but the technology played a big role in bringing us close together.  It was never felt that we are too far away.  In fact, I could sit with him and discuss everything that I wanted to.  This was actually the ultimate aim of starting this program.  I was able to sit with him, in fact both of them, Shashank and Shailender, help them learn the subject and understand it better, listen to their problems, and share my views and insight.  I sometimes wish I could have shortened my learning curve by learning this way.  It would have saved me at least three to four precious years of my life.

I have already announced a date for the next batch which is going to start tentatively from 20th Sep.  It requires lot of efforts to run such program.  It requires lot of time, focus and commitment.  I feel I may not be able to continue it for long.  As I have already announced it, I will stick to my commitment.  But it will be the final one for this year.  In new year, if I get some fresh energy I may think about it.

Here are two videos.  They are not small.  It would require lot of focus and time.  So be prepared for it before watching.  And don't forget the lesson,

Video 1:

For Video 2, click here

Feel free to post your feedback.

Friday, 18 September 2015

Nifty Future 18092015

No chart today to demonstrate the trades taken.  Instead watch this video here

Don't miss to visit this blog tomorrow to have a look at few videos that were recorded during mock trading session by Shashank as part of the Hand-holding training program.

Thursday, 17 September 2015

Buy Range Low

I am presenting here a small video to demonstrate how to buy at the Range Low using price action with the help of DPs and ranges.  I have only demonstrated an example to buy Range Low and not selling the Range High as there was no good setup per the system.

It is always better to look and find the area which can probably act as Range Low and try to buy there for maximum reward.  The same is also true for selling at Range High.

Click here to watch the video.

Wednesday, 16 September 2015

Nifty Future 16092015

Nifty opened today slightly below PDH and tried to break it but failed.  Entered short below the range low but it did not move well and had to scratch. Later in noon it seemed to break PDH and BRN successfully.  Entered long on BPB setup.  This also ended as a scratch. No other trades.

Tuesday, 15 September 2015

Saturday, 12 September 2015

The Process—Completed.

I started my journey of learning the trading, if I remember correctly, in year 2010.  Then in year 2011 there was a show on trading education called Talking Techincals on ET Now.  I watched that show regularly and it helped me a lot to understand the dynamics of market and technicals as a whole.  I participated in the quiz which they were conducting during the show and in one episode Dr. C. K. Narayan, the technical analyst appreciated my efforts.  He said “you have the makings of very good technical analysis.” It boosted my confidence a lot.  Here is the link for that video.  It is an 8 min video, very short and if you want, you can watch it from 6 min onward.  I thank you doc for showing me the path of technical analysis.

After learning it some and experimenting it on the markets, later I got inspired by the blog called, Justnifty.  Trading the Nifty with mechanical kind of approach fascinated me.  So I decided to try the SAR system, stop and reverse, and followed the signals and traded the Nifty mechanically for some time, but I failed.  When I tried to analyze my failure, I realized the system was not for me.

I decided to move on and in my quest for a good, the ultimate trading system I stumbled upon the blog called, Nifty Nirvana.  The writings of ST Sir and his unique teaching style through the blog changed my life.  After the initial hiccups, I started learning the price action trading and the learning process went on smoothly.  I thank you ST Sir from bottom of my heart.  You did the real upbringing of a trader within me.

The story after that, I think, is very clear to all the regular blog readers.  I am not going to repeat it.  Once I got comfortable with the trading and started making some money consistently, I put some objectives in front of me.  Teaching someone was one of those objectives.  So I ventured into it, made the announcement on my blog, and met with two very passionate traders, great personalities, Shashank and Shailender.  They believed in learning the trading properly, they believed in me, trusted me, and they had a faith that this would turn out to be a very good experience.  They deposited the full fees in my bank account without asking me a single question in advance.  I thank both of you for believing in me and keeping a faith in me and being a good disciple. I hope I was able to deliver what I promised you and teach you the real day trading with DPs and ranges. Now the program is approaching the final week and I am very much confident that they will excel in trading as a career and make most out of it.

The process of becoming a good trader that started as learning the trading, I think now gets completed after teaching someone.  Though the time will only tell, the success or failure of it, I feel myself very blessed that I was able to gather the required knowledge, make use of it, and could pass on to others.

I thank you all for your support over the years.  Without the support of all of you, this could not have been possible.

To keep the tempo going, I take the opportunity to announce the date for the second batch for Hand-holding training program and that is 20th Sep, 2015. I have already made one enrollment for this batch, so hurry up if you are really interested.  I will be able to accommodate very few.

Wish you all good luck and happy trading.