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Few Questions ??? |
pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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Post: #16  Posted: Tue Feb 18, 2014 7:14 pm Post subject: |
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| svkum wrote: | Buffet- As any human being cant be healthy and sickness proof , he needs medical attention whenever he falls sick ,
similarly in TRADING losses are required to keep trading career healthy and robust. learning while trading is like vaccination , so that trader make himself loss resistant, (though cant be avoided)
so losses are good , dont shy away , face boldly . only retired ppl can opt for full time trading , with small capital . |
svkum:
1 I have heard that Malayalis who leave Kerala only after they cross 18, get chicken pox when they are adults (as the virus has not crossed the Western Ghats separating Kerala from TN). They get it badly and complications can also result. Better to get c/p when young and get resistant in later life, like in rest of India
2 Our country is having many small, small illnesses. So we are resistant and avoid dying of imported diseases like Pig Flu, Bird Flu, Human Flu that can kill many in western countries
What you are saying is abs correct in share trading also
Prakash Holla |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #17 Posted: Tue Feb 18, 2014 7:50 pm Post subject: |
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buffet, have a look at this and many such survey reports if you can find them.
http://www.travismorien.com/FAQ/trading/futradersuccess.htm
Even the best traders of the world have lost everything and some off them have died poppers. I can't advise since I am a lousy trader but what seems to make sense to me is (in addition to perfecting your knowledge of TA/SA/FA) (a) keep your heart/emotions away and keep some SL, (b) keep part of profits in a different asset and (c) ensure that your trading doesn't suffer MTM loss, which affects your profits already taken out. |
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Rebel
White Belt
Joined: 04 Sep 2013
Posts: 387
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| Post: #18 Posted: Tue Feb 18, 2014 8:50 pm Post subject: |
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vinay,
great one bro,(a) keep your heart/emotions away and keep some SL, (b) keep part of profits in a different asset and (c) ensure that your trading doesn't suffer MTM loss, which affects your profits already taken out.
FACT.FACT.FACT.  |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #19 Posted: Tue Feb 18, 2014 9:00 pm Post subject: |
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Buffet: What about Bombay's best known bull? the one and only Harshad Mehta. Before he died shortly after his arrest during 1991-2, he had become a PAUPER three times. At such times his mother used to make daily one time cooking basic dal-rice khichdi and children used to eat or starve
Did that stop him? Shortly before he died, cops broke open a Vile Parle, Bombay flat in benami name and found Rs 16 cr securities in locked cupboard. When asked HM said may be mine dont know, if no one claims, adjust against my dues!
No need for such extremes, but even such extremes will not stop someone who is sharp, determined and hard working from making a fortune
If you read westerns, read Louis L'Amour's 'Flint' about such a character
BTW, I heard "Jesse Livermore" died a pauper as did many US big bulls/ bears
Learning from such 'Big Bangs" it is obvious that we should have a life and goals besides trading, and put aside money when the good times, they r a rollin'
Prakash Holla |
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indb
White Belt
Joined: 27 Aug 2012
Posts: 41
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| Post: #20 Posted: Tue Feb 18, 2014 9:55 pm Post subject: |
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| buffet bhai tp ke liye sb kam padta hai kya? he he aise hi majak kar raha hoo yaar |
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buffet71
White Belt
Joined: 11 Dec 2010
Posts: 108
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| Post: #21 Posted: Tue Feb 18, 2014 10:10 pm Post subject: Few Questions ??? |
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| Prakash Holla,Many thanks to you for sharing such antic information to us and honestly speaking i always egger to read your post,keep it up Man.Jai Hind, regards, buffet71 |
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buffet71
White Belt
Joined: 11 Dec 2010
Posts: 108
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| Post: #22 Posted: Tue Feb 18, 2014 10:18 pm Post subject: Few Questions ??? |
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| indb,If you take a glass of water and ask What is this???,many people tell you as water,some people tell you as liquid and very very few people tell you as H2O,.Friend it due to the difference of depth of vision of individuals. Jada Gyanbazi kar lia,consider me buffet71 |
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taruj
White Belt
Joined: 20 Apr 2011
Posts: 260
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| Post: #23 Posted: Wed Feb 19, 2014 9:09 am Post subject: |
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Buffy dada, started working on that challenge of x to x*100 from yesterday.
with this post are you getting warmed up to the 10k challenge as well.
rgds,
t |
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #24 Posted: Wed Feb 19, 2014 9:38 am Post subject: |
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| ProTrader wrote: | | shekharinvest wrote: | | Rebel wrote: |
4. ...so make sure one thing first try to take all ur capital as profit within few months without withdrawing the profits so that ur money is back,then u can trade with earned profits.
..just a a personal view.
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I wish, I could have been that much successful ! even after so many years of trading  |
You may want to change your name to shekartrader  . |
PT that's a good idea. Time to change coat.
Looking back have been successful as an investor even through the turbulent years of 2007-08. But as a trader you know |
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #25 Posted: Wed Feb 19, 2014 10:45 am Post subject: Re: Few Questions ??? |
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| buffet71 wrote: | [color=green] Q.3 :-Can trading give us that return where jobs and other business stands far behind???
Q.4 o you feel that trading needs a huge capital to establish you in this field??? [/color]regards, buffet71 |
Ans 3: Answer to this question is emphatic YES provided you are well capitalised and hence it depends on answer to your next question.
Ans 4: It depends what you call a huge capital. Rs 100,000 may be a huge capital for me and may be a small change for you. The answer lies in the question how much really you wish to make.
I explain with an example and this is general rule I follow.
I wish to trade one security only say NIFTY. (Swing trades)
Approx. SL is 70 points at Buy signal.
I close profitable positions in 3 steps.
Step 1: profit of 70 -100 points
Step 2: profit of 120-150 points
Step 3: whenever is TSL taken out.
So I am required to trade minimum of 3 lots at a time.
Some times market gives pull back immediately after the buy and SL is not hit. I again buy closer to SL. The buy quantity is again 3 lots. As I close positions as explained above this time 2 lots at each step.
Therefore, I need to trade or be ready to trade 6 lots for a given trade setup.
The approx risk I wish to take on one trade is approx 2% of the trading capital.
For 6 lots average SL is about 50 points which is equivalent to 50x6x50 = Rs 15000 . Hence the trading capital required to trade one security is min 7.5 lakhs. One may have a series of loss making trades, hence take it approximately Rs10 lakhs.
Now you don't need Rs 10 lakh to trade 6 lots of NIFTY.
Place 180,000 Margin + 20000 MTM in the trading account
another 60-80,000 in the bank account and keep all the remaining money in a short term bank FD exclusively for trading purposes.
Now the returns, if one does get a profitable trade. My experience is one makes approx 120 points per lot in a swing trade and the total profit is about Rs 120x6x50 = Rs 36,000 only.
So for every 10 lakhs you make 36 thousand in a profitable trade.
How many you get is a different question altogether |
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