Thread by @assortZ

Thread - What I can share with you after 5th anniversary?

Enough is discussed about capital,risk,psychology, trade management, discipline,trading systems etc.These are all basics and one should first get them right before moving further..So not going to discuss about it.. 1/26

Let me try to discuss about things which are less spoken..Mostly about habits and routine to manage ourselves better..Am not saying these are must but just sharing what I feel right as it helped me to steer things clearly in these 5years..2/26

Dig deeper not wider.This is information age and tonnes of info flowing..it all looks great and bookmark everything but you will never read..Some times all looks garbage and you will miss some gems..3/26

Better way to handle this is, choose a topic fix a dead line and dig deeper on that till you get a grip let it be a week or a month..Search web,read books only on that topic and ignore all other stuff.This is how I learnt most of my stuff..4/26

If I want to learn interpreting FII stats then I track all info related to it,ask queries to who are good in that.Till I get some idea will ignore all other stuff.This applies to smaller time frame too..Focus on the job in hand and ignore rest till that job is done.5/26

Record every learning..Let it be small observation from discussions or info from videos or books..Make it as habit to copy and note them somewhere..My preference is always a hand written notes topic wise..And I used to refer them back quite often.6/26

Some of my setups are from such notes then observation in real time then refer back notes, fine tune then finalise it..Without notes you tend to ignore to observe them in real time regularly is what I experienced.7/26

Panic is one worst enemy..Never have a panic like world is moving and you are not making progress..What you see mostly is mirage..One inch at a time let it be learning,earning or even in daily trades.Allow time..There is always another day so dont rush..8/26

Dont focus on too many things which often triggers panic..Keep calm and composed. Accept that progress should be slow and steady.Showing panic the doors and keeping company of patience in all areas is the way to move in the right direction.9/26

Be wiser to decide as what to follow..Go behind content rather than flashy stuff..When you follow something for a long time let it be a system or person or anything, ask yourself "what you have gained spending time there?"..10/26

Something has to be there for you to accept,implement and helps you to achieve something..Small or big it should make some positive changes in you else there is no point going in that direction..We waste enough time without realising this..11/26

Go with your strengths..Me not good at maths but good on creative/narrative.I tried to learn options but could not go beyond basics despite few attempts so left it for later stage.But my strength helped me to create many models with reg to SAR trading in my early stage.12/26

I must have backtested 100s of variation for SAR trading once and finalised one robust system.And I could pick up MP easily just because I like narrations..I found my soulmate there..So go with your strength and dont waste time on things which you cannot cope up..13/26

Dont spend too steep on anything to learn esp at early stage.Let it be software,training,data or whatever it is..Spend gradually..As time goes, you will come to know what is working for you and what is not working..Decide then..14/26

Scared money will never stay..There should be reasonable commitment to be attached with the capital employed..If you put more pressure then it becomes scared money and will vaporise quick..15/26

Trading is lonely business and you cannot trade for a long time with company..You need to set your own rules and have own systems..But to reach that stage you need a better learning..and that happens in a better way with shared learning than trying alone..16/26

Keep a good company to discuss things and try out things..Its easier way to select and filter things..You can pick up strength from others and then can tweak them to your own style..So be engaged with a friend or friends for a constant quick learning..17/26

Hard work-no alternative..Nothing is going to change in one day learning whatever best the source could be.Its our thirst to learn deeper and practicing further..Need to devise a process and be able to follow it day in and out.I started making daily trade plan on Sep'16..18/26

Till date am doing it without even missing a day..That process helped me to raise more questions and get answers..Simple process and it made whole shift in understanding market..Need to sweat a lot to learn,formalise things and then importantly to keep the process in flow.19/26

Periodic evaluation..We used to follow some process or having a habit just for the sake of routine. Reevaluate everything periodically, it could be like some daily updation of info in excel, or making some entries in journal, or browsing Twitter or whatever it could be..20/26

See if thats helping you in anyway to learn anything,to help in decision making or to improve.If no then modify it for betterment else just ditch it.Dont follow just because you are doing that for years.Unlearning is the best way to remove burden to pick up next good thing..21/26

Invest in yourself and take care of yourself..If body and mind not vibrant enough it affects a lot in decision making in trades in my experience..Physical activities,healthy diet,meditation or just some idle personal time for 10mins a day, good sleeping habits etc..22/26

Trading should be part of life and should not take all your time..Keep some passion apart from trading and do spend enough time on that..That balance gets fresh ideas and thinking into trading and relieves lot of stress..23/26

Last but not least.Keep it simple..Dont track too many things to decide on your decisions.But this simplicity is possible only after learning and unlearning a lot, doing lot of trail and errors..in the process its unavoidable to blow as many as accounts and waste few years..24/26

So best thing to cross this phase is invest small which is affordable at that time.Let me remind, after every phase you will get a feeling that you have arrived,which is not true..you learn something try fresh then something out of blue would hit you..will happen many times.25/26

Never go all in and do in parts..It took me solid 2 years of full time trading just to understand what I should not do?..then still in the process of doing good things and improving..so it takes its own time always keep this in mind every time you refill your account..26/26 #End