iCharts Discussions

[vishytns]

Hi all,
What is your trading strategy?
This is the very basic question one trader asks other trader.
You would get multiple answers to this and newbies like me try to do the understand a strategy and try to follow it.
There are several pitfalls in this aproach like
1. Understand the strategy in wrong way.
2. Applly the strategy at wrong situation
3. Finally lose the money and curse the person explained the stratey.
Based on this i would say its very difficult to trade a strategy created/developed by others. This gives rise to a question
"How do we create/develop/improvise our own strateg?"
This thread basically would be dedicated to find answer to this question. I expect all experts to share their LEARNING CURVE.
Newbies please post ur questions here. I am sure that definetly we are all haunted by this question everyday. Let us thank all experts in advance for sharing their learning curves.

[veerappan]

when u enter into your trading room remove the chappal and mind....its enough for trading....

[vishytns]

Veeru Anna,
Thanks for your answer. Your answer is very simple but we know that it took you very long time for you to arrive at this anwswer. We understood remove chappal part , but throw your mind looks very simple word for readers(BUT COMPLICATED).
I know you are very experiened trader and have come to the conclusion of "THROWING YOUR MIND". You would have definetly gone through lots of trades that made you so mature. So please explain us how you came to this conclusion of "THROW YOUR MIND".

Please explain us how your arrive at very good numbers that you post. How did you develop this skill. Please explain us the various failure scenarios you have faced?

I hope I am asking too much from you. Please spend your valuable time to explain us this? I respect your explanation.
Once again thanks for your kind reply.....

Waiting for your thoughts....

Newbies

[veerappan]

vishy infront of me one fellow lost 1.20 crore rupees in infosys...those days infosys traded at 7000-8000 ranges...no f and o also there...2000-2001 i think so....he is keep on adding... not selling...he says it will move it will move....upto 3.20 he waited all gone....

that day i got the lesson....realisataion on that.... if u bought a stock... u will say it will move move...u never think on the other side.... so take only one indicator ....whatever be the time frame.... do paper trading....just get train it...then go for original trades....number u have to find out fine tune it dear....indicators are not important that is secondary....first the culprit mind shd not use uuuuuu...u shd use it ....next only indicators...all are winners dear...what is risk that is main ...u can watch 15 min ...it may be a buy for u ...but for me eod its a sell...so i am taking more risk more rewards...similarly weekly boys on their weekly basis....so this is thing...ball is on your court now.... how to play u decide now....

[prasenjit]

verruji......how r u seeing sbin for tomorrow.......

[vinay28]

The answer is not simple. From my experience in other fileds, some people have different genes. we commonly call it sixth sense So when Mr. Veerappan said "remove your mind", one may interpret it as "go by pure gut feeling" but a lot of experience is also behind it and it is sometimes bitter.

Some people are gifted like e.g. Warren Buffet but they too studied a lot and worked hard.

As Mr. Veerappan said, wise guys also learn from other's experience.

[chrome]

after entering any day trade, one should avoid getting GLUED to the screen too often.....put sl and target exit points in the system and relax ur mind...while entering a day trade in stocks, do check for broader market charts also for overall trend confirmation..for delivery based one should keep updating tsl on regular basis.....my view only keep trading/investing simple....not like u getting dreams also of ur open trades of overnite

[singh.ravee]

Hi,

I would like to share few mistakes that I do in trading. Yest night shared same with few seniors;

1. On day to day basis, I lack the consistency and discipline to watch, spot, analyse and trade as per the pattern. I am ready to accept it.

2. Most of the times I try to reinvent the wheel. Point is - A lot of work has been done in TA (like wedges, triangles etc) and this work is accepted also. Instead of concenterating on trading triangle, my entire energy is
concenterated on finding a strategy that can help me make profits.

3. I think that if I learn another indicator, I will surely going to make it big in trading world. My problem is I fail to apply what I have already learnt.

4. I concenterate to make profit. I forget that profit is the end result of successful trade. I should concenterate on getting my trade right(entry, stoploss n exit).

5. Few months back in sb, I read veeru sir saying "master one indicator, if your indicator says sell, sell the stock; if your indicator says buy, buy the stock". He has maintained his words. I am still not able to implement it in toto.

I am still in doubt, do I really need to know "How to create/develop/improve/perfect a trading strategy? "

I think I should apply religiously what I have learnt.

Its my story. It may or may not be different from others story.

thanks and regards

ravee

[sherbaaz]

4. I concenterate to make profit. I forget that profit is the end result of successful trade. I should concenterate on getting my trade right(entry, stoploss n exit).



since day one i am trading only only and only for PROFIT. its the whole soul thing for me nothing else is imp. any thing i do i do for making money in the mkt.

regds,

[manass]

Hi All,
Few time I've experienced at a crowded road, it is difficult to cross the road, trust you have experienced the same. But some time you have seen, few blind people crossed the same crowded road without any difficulties with a simply white stick. These people has strong faith on that white stick so they able to cross the crowded road.
So choice is yours. Sorry if this view is wrong, it is my personal view.
Enjoy your happy trading.
Regards

[casper]

[chiragbvyas]

dear ravee,
on the earth no one is complete and perfect,just like that there is no full proof plan,strategy,calculations or mathods in the world of T A. u can just take a look or overview for guidence and that's all. or u should have to trade only one or two scripts whenever bullish or bearish trend take place then trade else enjoy your peace of mind.

[manass]

Hi Casper, The stick & black glass is nothing other than your convinced Indicator/Parameter, which you are going to follow . That's all. Nothing otherwise.
Regard

[casper]

hi manass

i just fail to understand who is the trader?

from ur 1st msg it is seen trading with faith as blinds are crossing road is the trader

but form ur response, it is seen the driver who is stopping the car seeing a blind person (recognizing by black glass and stick, as we use indicators) is the trader


would u plz clarify??


(hope u wont mind, as it is the traders psychological related thing and we should be clear of what we are going to do and how we are going to do, and i think, when vishy started this thread, he is trying to focus the point before us which turns an otherwise simple fellow into a formidable trader, and all of ours opinion, i think, will bring up an way to look at things more clearly, resulting more profit from our trades, so all of us must speak of our mind, as clearly as possible)

[manass]

Hi Casper,
You are right, only interception is different, and moreover, it was my thinking process on an individual trader, I am one of the blinds, I have a faith on Black Glass( IChart Experts) & a stick as 1 or 2 indicators thru IChart. With thru his strategies I’m going forward.
Regards