iCharts Discussions

[Ruchirgupta2000]

Recently, I had a chance to talk to many expert traders who have made trading as their living. From these people I came to know that they were making the plan every night, setting the strategy and not jumping on the trades in the morning with spontaneous strategy.

I noticed that till I was just trading nifty for a month or Reliance Infra to capture Modi wave this strategy was less significant. However, once the consolidation and correction started I had to look for other potential stocks for which I was only viewing my software at the opening of the market which was making me to enter in a loosing trade. I was not even able to get those potential chart patterns in advance. Here is when I started using this strategy.

Then I started to identify the charts in night itself, which made me feel confident and even think about the pros and cons of the trade much in advance. This increased my confidence and surely can increase yours.

Have a nice trade.

Regards,
Ruchir

[Ruchirgupta2000]

[Ruchirgupta2000]

[Ruchirgupta2000]

Exercise: "Remembering the past successful trades"

The basic premise of the exercise is that many people tend to remember bad things of their past much more than in comparison any good that has happened. What this does is the people think of those bad images they get connected deeper at the unconscious and neurological levels and then even after trying to do smthing in a good way they end up committing the same mistake again.

Now here is the good news you can change all this. I struggled a lot with this however intense desire to come out this habit of awarded me get a process to fix it.

Start maintaining a record of your good trades. Just write 1 paragraph describing it. with a view to answer these questions and various other details that you want to record. Also record the trades that were big/huge profits in your trading carier.

1. What were the good things you did while this trade?
2. What was the feeling inside you when you took the trade (Entry as well as exit)?
3. What did you hear in your head?
4. What specifically you saw in your mind and outside?
5. Any Other facts

Now what you have done is that you have created a self propulsion system which will guide you for future and all the answers are coming from inside you. You will certainly feel more confident and start getting amazed with the kind of results you will get in the coming days.

You will also find the copy you have maintained has become your success book and you will also start realizing and positive changes spilling to your personal life.

Waiting to hearing the results from you all.

Any feedback would help me refine the exercise further and make it better for you all.

Regards,
Ruchir

[Ruchirgupta2000]

One of the trader's trades when analysed came to be summing up to 95% of trades lost while he was still in very huge profit.

Just guess what was he doing? what would have happened?

Regards,
Ruchir

[Ruchirgupta2000]

Hope you guys will start doing these exercises and start helping yourself.

[Ruchirgupta2000]

Ruchir: My trading profits have zoomed due to maintaining complete record of +, marginal and - trades
You are 100% correct about feeing good about + trades and learning how to repeat them, I would add we should remember lessons learnt from bad trades and vow not to repeat the mistake
I just want to add what I felt good about a marginal trade. I bought 200 hcltech and held overnight as didnt give intra profit, next day it zoomed to tgt 20 rs up and started falling. the trend looked weak and i exited overruling my broker who was sure it would again go up AND he felt that i wasnt earning anything (due to higher delivery brokerage). i earned Rs 500 net but felt very happy watching the scrip fall Rs 5 from my sale price, and go sideways!



Ruchirgupta2000 wrote:

nice to hear your experience... the records you maintained by you for + and - trades is part of your system... if you look at the record you will get the figures and see how well you have been doing or where you required improvement, however if you start writing a small paragraph of your winning trade (as you have written in this mail), may be after market ends or at night and record all the description of your feelings that you felt once you won that trade, visualize and hear what all happened, record the way you were thinking at that point of time.

what will start happening is that your mind and neurology will get trained to your winning patterns and whenever you will be in a situation like this you will tend to automatically take steps as per your earlier winning trades.

Now once you start reading the description of what you have written in the msg you can see feelings such as 'happiness' and wise decision making which could never be described in the record maintaining excel or book.
Because I am talking about neurology I m just asking you to concentrate on your good parts and soon a time will come that you will become stimulated to your record keeping copy. and the moment you will touch or remember your record copy you will be in that positive state of mind that only knows to do positive trades.
I am creating exercise and methods to deal with the negative parts and want to keep it separate.
Hope you find it helpful. I would like to know if I could post your msg on this psychology thread, so that traders can take benefit of your experience. Regards, Ruchir
Regards,
Ruchir Gupta

[Ruchirgupta2000]

I realised that 2 things have always helped me in the markets, staying longer, and closing the net month with profit. There are other things as well but Prrimary are these 2.
1. Booking half at profit and revising the stop to cost (or higher)
2. Withdrawing all the profits.
now, 2 rule has some thing important, I know most of us dont even know the process to withdraw money online. If we dont know to withdraw the profits we will never have those profits.
An instance from life of Moses says that there was no rain for many years, and he asked his people to pray for rains and went for some other work, later when he came he asked his people where are the ditches? and his poeple had never dug the ditches, and then Moses said that "as you have have dug the ditches for water this shows that you dont believe that your prayers have power".
In similar lines we as trader also need to know how can we take our profit funds out. I had account with indiainfoline and for 3 years I just kept giving them money and never cared about withdrawing as I never belived I can earn profits, later I enquired and got the process to take out the money, and then I earned and withdrew my first profits,
2 years ago I opened account with Angel broking and again did not bother to know the process of withdrwal, few I tryied the attempts fails and the person cordinating did not bothered, so didnt I and you can know what happened.
Then, I now opened my account with new comany and since I made stock market I profession, I could not live without knowing how to withdraw money. I did that, and I started withdrwaing the money.
and now I could notice that because of one bad trade the person can loose all his profits, hence the trading capital needs to be fixed and profits need to withdrwn to create the reseve capital and other sources of income via interest or Mutual funds investments.

[Ruchirgupta2000]

It might seem funny to some of you, but I need to still tell. Money is a matter of the chilhood conditioning that we got and because of of which even if we know how to earn we either end up loosing it or loose it consistently. now there is book by T- Harv by the name of millianare minds. I have read many books like this, like THink and Grow rich, seen Born Rich video program of Bob Proctar (he is main feature in movie "the secret"). though I have grown in my life coz of lot of reading but still I feared for few things like what if I earn and my friends get jelous of me?, what about my security?, where will I keep so much money if I earn?, How will I be able to open the NGO?, How will I ensure that even if I earn and save and donate the NGO will use it in the interest of the children?
all of these questions kept eating me from inside untill I read the T- Harv's book. as soon as I read it figured out all those above questions. and dI could relate to him as he also was investing in the stock markets. and knew that yes I am worried about all these things and first time I noted them all and started changing my thinking, to ensure that I now I am capable of taking care of the fears I had about money. THough in a very starting stage since last thurday I saw things changing for me 3 out of 4 days profit, first time ever in my trading life.
one more thing I did which had a very imporatnt role is the book by Rhonda Berne, who mad the movie "the secret", her book "Magic" is a course of 28 day which I complted on 28 sept for the second time.
Impressed my the book I bought the 70 copies and distributed to all those whom I can watch and help to complete the course and who can be in contact while doing it.
Last time when I did the course which ended on 21 April 14 and I saw a big surge in my capital I had bought Relinfra calls at @12.5 and sold them at 86, I made a profit of 5 Lakhs for 70K investment. but beacuse I did not had the mindset to handle that money I lost it. but here is the T-harv's book to help me.
This may seem out of context, but I want you all to keep your profits after you earn, Elliott and Gann are the tools to earn but Psycology is also very important.
If you have any questions please ask me.

[doji]

Please provide the list of books(with publisher details) that will be helpful for budding traders

[Ruchirgupta2000]

[Ruchirgupta2000]

If we think that we cant earn enough money if the reason youo think that there is limited money and that is owned by smart people and since I m not smart I cant earn enough. the belief is self limiting. let us hythecially start reducing the population on globe which is around 7 billion to around 1 million. Now we are livng in this 1 million and again thinking that the population has reached one million, resources are limited. 10 years ago the population was only 250,000. Now you will again experience the same limiting belif tha the money is limited the king is the wellthiest man, his army men are wealty people but, since I dont have any contacts with king or higher poeple I cant earn enough money.

Now lets start from another end of this story when the human being just started flourinshing on earth starting from ADam n Eve. Logically thinking they are the welthiest peoeple because they are highest intellect people of thier time. they are the richest being on earth coz all the resources on earth belong to them. but wait. they might be dependent on just hunting and may have slept hungry many a times.

Now some 100s of years later the population has grown to 500 human beings. there is still no barter system. no money. they hunt and eat, they pluck fruits and they eat. resources are unlimited still some of these beings might be sleeping hungry, coz of many hypothetical reasns, they eather dont like the taste of available fruits of the strong beings who hunted the animal are not sharing anything. but the being sleeping hungry could have hunted himself, he will not coz he thinks he is not capable enough and remains dependent on other members. even he would have moved out of the group he would have got a big orchard of fruits for himslf. but he afraid, he is afraid of lions and other ferociuos animals.. ok now let us fill the gap between this 500 population and 25000 poulation stroy. people thinking themselves may present in every generation and they may account for mighty % of our population. but there were times recorded in human history when each person was wealthy. Babolanian culture and very initial beginings of hindu culture ( even before the cast systems. they had very less or no % of poverty. why? how was this possible? coz the resources get converted into money. and if we dont recognise a rescouce we can never trun it to money. and biggest resource is our mind. our thoughts. the resources lying inside us. but we are in a habbit of selling ourselves short. the money is here and rigth now, I can prove it. I have farm lands and what ever the farmer sows there comes out. so my question is if all the farmers on the earth sow the wheat only and nothing else. will the nature refuse by saying hey there is enough seeds already sown for wheat dont sow any more. No , it will not. ok lets talk about smthing coulrful. we be we think that the colours are limited but our earth is covered with enormous greenery. so much of sun light is available. we can convert it to electricity. there was a scientintist by the name of Nichola Tesla, whose name has been burried by the corporates like JP morgan. He discover that like the TV signals and telephone mobile signals the electricity can be transferred to milliotns of kilometers his technics were suppressed in front of thomas Edison who was transferred electricity through wires. moreover the Tesla wanted to give to work humanity for fre by establishing the and transferring the electricy for free but the project did not made commercial sence to JP morgan.

Also, its not just the sun, but the one truck uranium if brough from the moon can ignite the electricty on the whole earth for ateast an year.

May each one of us can be wealthy and it is not dependent on the population but how we think, how we work, how we innovavte new ideas. how we stop fighting coz of the thinking limited resources and how we start focusing on new earning streams. or not in terms of money or earning but in terms of happiness and accomplishment.

FOr eg. in Burma the GDP measuremnt is done by the happiness of the people. true wealth is our happiness. If money makes us happy lets have it. if love and relations make us happy make lets have it.

[Exness Official]

In keeping the “truths” about forex trading in mind all the time, you can be able to gain a psychological edge and cope with losses better. Here’s what you should always remember:

Expect the unexpected

Face it. No matter how much effort you put in your analysis, you still won’t have a hundred percent accurate idea of where the market is headed. There’s always the chance that a surprise is waiting just around the corner, maybe in the form of an unannounced currency intervention or shockingly dovish comments from a central bank official.In fact, these unforeseen events can go beyond the economic arena and also come in the form of natural catastrophes or a sudden declaration of war. Even if you watched the charts constantly, stayed on top of the forex calendar, and listened to the news every day, you still probably wouldn’t see those events coming.

I have learned to trade news trading from my broker Exness which provides good insights on trading news and also gives a good analysis on what can we expect from the market.