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Evaluate Your Trading Loss! Loss Is The Mother Of Profit. |
opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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Post: #16  Posted: Thu Sep 22, 2011 8:06 pm Post subject: |
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| ravionlinek wrote: | Want to ask some q
1) After Hitting 1st tgt what could be stoploss
some time stock after riching 1st tgt its come to our buying/selling price
level...that time i m happy because i exit around 1st tgt.....
but just 4m our buying/selling price its goes again to R1/S1 to R2/S2
What could be Ans for This scenario is booking 50-70% around 1st tgt is good or 100% @ 1st tgt..... |
Go for Trailing stop loss.. That is after 1st target re-set your SL to higher one. But keep risk:reward ratio same. I keep RR around 1:2.5...That is if target is 10 points then SL should be 4 points. However, for any trade your trading capital should not deplete by more than 2-3%. so lesser of the above rules (RR or trading cap) should determine SL |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #17 Posted: Thu Sep 22, 2011 8:14 pm Post subject: |
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No! Focus should be on learning Then money will follow automatically.
If you focus on money making, losses will follow.
| opportunist wrote: | | pushkarmore wrote: | this is a wonderful idea.. there cant b a better example than me.. lol
since feb this yr till now, i hav paid 14+ lacs as training fees in trading; well i call it a high premium fee (my losses) lol..
well most of it was my own wrong doing.
i learnt, in order to make money u shud be able to control your emotions and not to get carried away.
now i make descent returns each day.once my target money total is reached for the day, i turn off the terminal cause its very diff to keep away frm trading, its addictive |
Man 14+lacs !!!! Wish I had that kind of money to spare seriously. I guess Pushkar buying systems may not help because ultimately the trader IS the system. Seminars and classes that way may be of some help but ultimately it is a self learning process. People with a research bent of mind I think usually would succeed. But focus should be on money making rather than learning.
Best of luck
Oppo |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #18 Posted: Thu Sep 22, 2011 9:09 pm Post subject: |
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| ravionlinek wrote: | Want to ask some q
1) After Hitting 1st tgt what could be stoploss
some time stock after riching 1st tgt its come to our buying/selling price
level...that time i m happy because i exit around 1st tgt.....
but just 4m our buying/selling price its goes again to R1/S1 to R2/S2
What could be Ans for This scenario is booking 50-70% around 1st tgt is good or 100% @ 1st tgt..... |
hi ravi
after hitting target one, price does not change its direction for nothing, if u r working on chart and then taking trade urself then find out why u choose the target one [ it must be some sort of support in case u r short or resi in case u r long..... so that u expected price may stop and reverse from here and chosen that point as ur tgt1] once u hv ur logic ready, see what price is doing there and how ur logic is interpreting that sequence of event
suppose a stock ABC is moving from 90-99 range for a long period and some day we see that it closed above 99, now assuming the range of 90 and 99 is broken, we want to buy it, above 99
in this case, we might like to plan the execution part as follows
buy above 99 or buy at 100, with sl of 98 and target of 105-110
now we are buying at around our buy zone of 99-100 and keeping an sl at 98 or slightly below that, depending our risk taking capacity
so let us take some rest, if u r a smoker like me, u can take some puff now and let our stock ABC rise with glory and we look back our logic part
since the range of that stock was 90-99, so we kept sl at 98 initially, assuming
1.if its a true break out of range then stock will never come back to its range again and it will rise higher and higher
2. and if its not a true bo then stock will get back to the range and then will continue in 90-99 range like past
so this way, our sl of 98 is justified, if u want to kill the chance of whip saw, make ur sl at 98 by closing, it will hopefully not trigger even if some whipsaw comes and takes price below the range during intra day madness
but if u go by closing , u cant say whr below 98 it will close, so in this case u will take a huge hit if it closes say at 93
so think about it and act accordingly
now target part
in our chart we saw 105 and 110 was tough resistance, so we can expect a stop or reversal of price movement around these levels, thats why we kept this 105 and 110 as targets, [ in fact these targets are bound to be some stronger level in order to qualify as targets, otherwise why we will keep this as target???]
now ur question part
price came to our target 1, 105 zone, we are happy and tensed, what will be the next? 100 or 110??
though i cant give u any full proof method but i can give u some hints
1. if price breaks 105 and goes up like a rocket, then u have hardly anything to do, but congratulating urself
2. price came around ur target of 105 and moving around, this is ur time to act
check the chart, can u see any sign of weakness around 105??
by weakness i mean sudden fall in volume, rsi divergence, a bearish candle stick or any thing and every thing u trust as a sign of weakness? can u see any??
if yes, book now, and if u get an itchy hand and stock rises beyond 105, u will again buy at 106 with sl of 104
why 104???
ask ur self
if there is no bearish sign u can see around 105. then no prb, keep a mental stop loss [ CAUTION 440 volt..... mental stop loss is only for "traders" not applicable for gamblers]
if this stock comes down and breaks ur mental sl, book it and buy again if it rises beyond 105
if ur mental sl is not broken, and stock goes up, and stays above 106, keep ur sl at 104 [ just below ur target 1] and light another cigarette with a cup of tea and relax now
and if u r not researching for ur trade and taking call from any body else, just ask that guy why he given the targets and what he thinks when price reaches target 1
hope it helps, though its easier to write than to execute in market, so i will advise u to trade like invisible man..... let no body to see u and disturb u..... never get ur attention diverted during trading
any more question??? |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #19 Posted: Thu Sep 22, 2011 9:30 pm Post subject: |
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WOW ! Casper !
A whole some approch .What about booking 50 % profit at target 1 and TSL rest to break even, awaiting target 2.
I liked your last sentence, while trading at home, I was destracted by family members so many times and cursed my self later.
I don't know what to do .They never understand what trading is even after we requsted not to distrub.
Even ,we can't tell them so harsh too,afterall life is not only trading. |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #20 Posted: Thu Sep 22, 2011 10:02 pm Post subject: |
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Wonderful way again to explain things.
regards,
Chetan.
| casper wrote: | | ravionlinek wrote: | Want to ask some q
1) After Hitting 1st tgt what could be stoploss
some time stock after riching 1st tgt its come to our buying/selling price
level...that time i m happy because i exit around 1st tgt.....
but just 4m our buying/selling price its goes again to R1/S1 to R2/S2
What could be Ans for This scenario is booking 50-70% around 1st tgt is good or 100% @ 1st tgt..... |
hi ravi
after hitting target one, price does not change its direction for nothing, if u r working on chart and then taking trade urself then find out why u choose the target one [ it must be some sort of support in case u r short or resi in case u r long..... so that u expected price may stop and reverse from here and chosen that point as ur tgt1] once u hv ur logic ready, see what price is doing there and how ur logic is interpreting that sequence of event
suppose a stock ABC is moving from 90-99 range for a long period and some day we see that it closed above 99, now assuming the range of 90 and 99 is broken, we want to buy it, above 99
in this case, we might like to plan the execution part as follows
buy above 99 or buy at 100, with sl of 98 and target of 105-110
now we are buying at around our buy zone of 99-100 and keeping an sl at 98 or slightly below that, depending our risk taking capacity
so let us take some rest, if u r a smoker like me, u can take some puff now and let our stock ABC rise with glory and we look back our logic part
since the range of that stock was 90-99, so we kept sl at 98 initially, assuming
1.if its a true break out of range then stock will never come back to its range again and it will rise higher and higher
2. and if its not a true bo then stock will get back to the range and then will continue in 90-99 range like past
so this way, our sl of 98 is justified, if u want to kill the chance of whip saw, make ur sl at 98 by closing, it will hopefully not trigger even if some whipsaw comes and takes price below the range during intra day madness
but if u go by closing , u cant say whr below 98 it will close, so in this case u will take a huge hit if it closes say at 93
so think about it and act accordingly
now target part
in our chart we saw 105 and 110 was tough resistance, so we can expect a stop or reversal of price movement around these levels, thats why we kept this 105 and 110 as targets, [ in fact these targets are bound to be some stronger level in order to qualify as targets, otherwise why we will keep this as target???]
now ur question part
price came to our target 1, 105 zone, we are happy and tensed, what will be the next? 100 or 110??
though i cant give u any full proof method but i can give u some hints
1. if price breaks 105 and goes up like a rocket, then u have hardly anything to do, but congratulating urself
2. price came around ur target of 105 and moving around, this is ur time to act
check the chart, can u see any sign of weakness around 105??
by weakness i mean sudden fall in volume, rsi divergence, a bearish candle stick or any thing and every thing u trust as a sign of weakness? can u see any??
if yes, book now, and if u get an itchy hand and stock rises beyond 105, u will again buy at 106 with sl of 104
why 104???
ask ur self
if there is no bearish sign u can see around 105. then no prb, keep a mental stop loss [ CAUTION 440 volt..... mental stop loss is only for "traders" not applicable for gamblers]
if this stock comes down and breaks ur mental sl, book it and buy again if it rises beyond 105
if ur mental sl is not broken, and stock goes up, and stays above 106, keep ur sl at 104 [ just below ur target 1] and light another cigarette with a cup of tea and relax now
and if u r not researching for ur trade and taking call from any body else, just ask that guy why he given the targets and what he thinks when price reaches target 1
hope it helps, though its easier to write than to execute in market, so i will advise u to trade like invisible man..... let no body to see u and disturb u..... never get ur attention diverted during trading
any more question??? |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #21 Posted: Thu Sep 22, 2011 10:22 pm Post subject: |
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| rk_a2003 wrote: | No! Focus should be on learning Then money will follow automatically.
If you focus on money making, losses will follow.
| opportunist wrote: | | pushkarmore wrote: | this is a wonderful idea.. there cant b a better example than me.. lol
since feb this yr till now, i hav paid 14+ lacs as training fees in trading; well i call it a high premium fee (my losses) lol..
well most of it was my own wrong doing.
i learnt, in order to make money u shud be able to control your emotions and not to get carried away.
now i make descent returns each day.once my target money total is reached for the day, i turn off the terminal cause its very diff to keep away frm trading, its addictive |
Man 14+lacs !!!! Wish I had that kind of money to spare seriously. I guess Pushkar buying systems may not help because ultimately the trader IS the system. Seminars and classes that way may be of some help but ultimately it is a self learning process. People with a research bent of mind I think usually would succeed. But focus should be on money making rather than learning.
Best of luck
Oppo |
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If you focus too much on learning you will end up becoming a professor of trading. Learning and doing (here trading) must be balanced. This reminds me of a quote: There are two kinds of failure - one who never thought and only did and the other - who never did and only thought.  Hope you get the point now. |
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S.S.
White Belt
Joined: 09 Feb 2011
Posts: 241
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| Post: #22 Posted: Thu Sep 22, 2011 11:22 pm Post subject: |
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| well said dada. . . . . |
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ravionlinek
White Belt
Joined: 11 Jun 2010
Posts: 97
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| Post: #23 Posted: Fri Sep 23, 2011 12:17 am Post subject: |
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| casper wrote: | | ravionlinek wrote: | Want to ask some q
1) After Hitting 1st tgt what could be stoploss
some time stock after riching 1st tgt its come to our buying/selling price
level...that time i m happy because i exit around 1st tgt.....
but just 4m our buying/selling price its goes again to R1/S1 to R2/S2
What could be Ans for This scenario is booking 50-70% around 1st tgt is good or 100% @ 1st tgt..... |
hi ravi
after hitting target one, price does not change its direction for nothing, if u r working on chart and then taking trade urself then find out why u choose the target one [ it must be some sort of support in case u r short or resi in case u r long..... so that u expected price may stop and reverse from here and chosen that point as ur tgt1] once u hv ur logic ready, see what price is doing there and how ur logic is interpreting that sequence of event
suppose a stock ABC is moving from 90-99 range for a long period and some day we see that it closed above 99, now assuming the range of 90 and 99 is broken, we want to buy it, above 99
in this case, we might like to plan the execution part as follows
buy above 99 or buy at 100, with sl of 98 and target of 105-110
now we are buying at around our buy zone of 99-100 and keeping an sl at 98 or slightly below that, depending our risk taking capacity
so let us take some rest, if u r a smoker like me, u can take some puff now and let our stock ABC rise with glory and we look back our logic part
since the range of that stock was 90-99, so we kept sl at 98 initially, assuming
1.if its a true break out of range then stock will never come back to its range again and it will rise higher and higher
2. and if its not a true bo then stock will get back to the range and then will continue in 90-99 range like past
so this way, our sl of 98 is justified, if u want to kill the chance of whip saw, make ur sl at 98 by closing, it will hopefully not trigger even if some whipsaw comes and takes price below the range during intra day madness
but if u go by closing , u cant say whr below 98 it will close, so in this case u will take a huge hit if it closes say at 93
so think about it and act accordingly
now target part
in our chart we saw 105 and 110 was tough resistance, so we can expect a stop or reversal of price movement around these levels, thats why we kept this 105 and 110 as targets, [ in fact these targets are bound to be some stronger level in order to qualify as targets, otherwise why we will keep this as target???]
now ur question part
price came to our target 1, 105 zone, we are happy and tensed, what will be the next? 100 or 110??
though i cant give u any full proof method but i can give u some hints
1. if price breaks 105 and goes up like a rocket, then u have hardly anything to do, but congratulating urself
2. price came around ur target of 105 and moving around, this is ur time to act
check the chart, can u see any sign of weakness around 105??
by weakness i mean sudden fall in volume, rsi divergence, a bearish candle stick or any thing and every thing u trust as a sign of weakness? can u see any??
if yes, book now, and if u get an itchy hand and stock rises beyond 105, u will again buy at 106 with sl of 104
why 104???
ask ur self
if there is no bearish sign u can see around 105. then no prb, keep a mental stop loss [ CAUTION 440 volt..... mental stop loss is only for "traders" not applicable for gamblers]
if this stock comes down and breaks ur mental sl, book it and buy again if it rises beyond 105
if ur mental sl is not broken, and stock goes up, and stays above 106, keep ur sl at 104 [ just below ur target 1] and light another cigarette with a cup of tea and relax now
and if u r not researching for ur trade and taking call from any body else, just ask that guy why he given the targets and what he thinks when price reaches target 1
hope it helps, though its easier to write than to execute in market, so i will advise u to trade like invisible man..... let no body to see u and disturb u..... never get ur attention diverted during trading
any more question??? |
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Super Answer sir...............Thanks.......... |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #24 Posted: Fri Sep 23, 2011 9:05 am Post subject: |
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The question is where should be the focus either on money making or learning. choose one .The Intention of every one is money making otherwise why any one should come to stock market.
Let us examine a simple phenomena. all new traders focus on money making they fail, even perish. Who are wise enough to shift there focus on learning would be few sucessfull.
Therefore who focused on money making failed who focused on learning with an awareness that money will follow will be sucessfull.
| rk_a2003 wrote: | No! Focus should be on learning Then money will follow automatically.
If you focus on money making, losses will follow.
| opportunist wrote: | | pushkarmore wrote: | this is a wonderful idea.. there cant b a better example than me.. lol
since feb this yr till now, i hav paid 14+ lacs as training fees in trading; well i call it a high premium fee (my losses) lol..
well most of it was my own wrong doing.
i learnt, in order to make money u shud be able to control your emotions and not to get carried away.
now i make descent returns each day.once my target money total is reached for the day, i turn off the terminal cause its very diff to keep away frm trading, its addictive |
Man 14+lacs !!!! Wish I had that kind of money to spare seriously. I guess Pushkar buying systems may not help because ultimately the trader IS the system. Seminars and classes that way may be of some help but ultimately it is a self learning process. People with a research bent of mind I think usually would succeed. But focus should be on money making rather than learning.
Best of luck
Oppo |
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maneesh007
White Belt
Joined: 08 Feb 2009
Posts: 119
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| Post: #25 Posted: Fri Sep 23, 2011 10:10 am Post subject: |
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| opportunist wrote: | | rk_a2003 wrote: | No! Focus should be on learning Then money will follow automatically.
If you focus on money making, losses will follow.
| opportunist wrote: | | pushkarmore wrote: | this is a wonderful idea.. there cant b a better example than me.. lol
since feb this yr till now, i hav paid 14+ lacs as training fees in trading; well i call it a high premium fee (my losses) lol..
well most of it was my own wrong doing.
i learnt, in order to make money u shud be able to control your emotions and not to get carried away.
now i make descent returns each day.once my target money total is reached for the day, i turn off the terminal cause its very diff to keep away frm trading, its addictive |
Man 14+lacs !!!! Wish I had that kind of money to spare seriously. I guess Pushkar buying systems may not help because ultimately the trader IS the system. Seminars and classes that way may be of some help but ultimately it is a self learning process. People with a research bent of mind I think usually would succeed. But focus should be on money making rather than learning.
Best of luck
Oppo |
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If you focus too much on learning you will end up becoming a professor of trading. Learning and doing (here trading) must be balanced. This reminds me of a quote: There are two kinds of failure - one who never thought and only did and the other - who never did and only thought. Hope you get the point now. |
the guy who created jyotish shastra could not able to do marriage throughout his life, waiting for the right nakshtras & favourable grahas
 ... why coaches of legendary players can,t be superstars like them...so according to me there should be an optimum balance between knowledge & proper implementation...
regards
Maneesh Bhardwaj |
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