10 crores may not be possible with 1 crore and much less with 10lacs and 1 lac.
My thumb rule is that my trading system must be tat which allows me to sleep 8 hours a day unmindful of CNBC's 24x7 telecasts saying 1000 different things which negate one reasoning at one time
10/n
My thumb rule is that my trading system must be tat which allows me to sleep 8 hours a day unmindful of CNBC's 24x7 telecasts saying 1000 different things which negate one reasoning at one time
10/n
but confirms the same at a different time.
In act one thing I can share with you. I was trading at some point in time all of NSE FNO,MCX, Currency and NCDEX.
In 2013 post #NSEL I quit MCX trading inmany commodities, quit Gold/Currency in 2016 post Brexit and in 2019..
11/n
In act one thing I can share with you. I was trading at some point in time all of NSE FNO,MCX, Currency and NCDEX.
In 2013 post #NSEL I quit MCX trading inmany commodities, quit Gold/Currency in 2016 post Brexit and in 2019..
11/n
quit NCDEX as its volumes dwindled and transactions costs soared.
Today my trades are executed in NSE only between 9.15 to 3.30 and am a free man for the rest of 17 odd hours getting nice sleep of 8 hours.
I like the present scenario as I have a lot of time to do other thngs
12/n
Today my trades are executed in NSE only between 9.15 to 3.30 and am a free man for the rest of 17 odd hours getting nice sleep of 8 hours.
I like the present scenario as I have a lot of time to do other thngs
12/n
To sum up there is no one thing that decides on the trading system that we select to use. It is a combination of things.
But our system must suit all the above to give a positive expectation. Mind you only expectation. Final result could be disappointing.
As I moved on
13/n
But our system must suit all the above to give a positive expectation. Mind you only expectation. Final result could be disappointing.
As I moved on
13/n
I trade in multiple timeframes-at one stage I did from 1 minute to 1 week timeframes.
Broadly lower the timeframe more will be your trades and hence transaction costs and slippages not to mention brokerage charges.
Each timeframe adds to number of lots and consumes capital
14/n
Broadly lower the timeframe more will be your trades and hence transaction costs and slippages not to mention brokerage charges.
Each timeframe adds to number of lots and consumes capital
14/n
Reasonably the best timeframe to trade with smaller capital will be 5 minutes wherein your losses will be quick to be controlled. But profits will also be less and your continuous presnce in front of the trading terminal will be a necessity.
Choose wisely
15/n
Choose wisely
15/n
If you are unable to cope with the demands on time move to higher timeframes like 15/30/60 minutes.
Remember thehigher the TF the drawdowns will be more and your capital gets eroded on a/c of drawdowns.
2.What system do I use?
I use MACO(Moving Averages Cross Over)
16/n
Remember thehigher the TF the drawdowns will be more and your capital gets eroded on a/c of drawdowns.
2.What system do I use?
I use MACO(Moving Averages Cross Over)
16/n
Which MACO?
Many. Again each one can result in different drawdowns. It is similar to timeframes. So what suits your purse and psyche is what you need to choose.
Which combination gives the best result. Do your home work. Right from 5 periods to 200 periods select combos
17/n
Many. Again each one can result in different drawdowns. It is similar to timeframes. So what suits your purse and psyche is what you need to choose.
Which combination gives the best result. Do your home work. Right from 5 periods to 200 periods select combos
17/n
MACO 20x200 was the first one that I started with after learning from Pristine.
amazon.com/Pristine-coms-…
I have followed many of their course contents
amazon.com/Pristine-coms-…
I have followed many of their course contents
18/n
Pristine used 20x200 but for me the drawdowns were very big so I moved to 10x20 which I had used for many years.
Backtest every combination and choose the one most suited for your risk profile. Keep this back testing a continuous exercise till such time you continue to trade
Pristine used 20x200 but for me the drawdowns were very big so I moved to 10x20 which I had used for many years.
Backtest every combination and choose the one most suited for your risk profile. Keep this back testing a continuous exercise till such time you continue to trade
19/n Having chosen these systems proceed with choice of products that you will trade with these systems.
Not all stocks on FNO are amenable to trading in shorter duration timeframe. Your slippages may be huge.
Keep your mock trading journal reports ready on hand
Not all stocks on FNO are amenable to trading in shorter duration timeframe. Your slippages may be huge.
Keep your mock trading journal reports ready on hand
21/n
If I can lay hands on I may even upload on Goolge Doc a model report - a typical excel sheet which you can follow,refine and use for your needs.
Do I use indicators while I trade.
I think I might have told this earlier too. Reiterating it now here. Indicators are just that
If I can lay hands on I may even upload on Goolge Doc a model report - a typical excel sheet which you can follow,refine and use for your needs.
Do I use indicators while I trade.
I think I might have told this earlier too. Reiterating it now here. Indicators are just that
22/n
Think of indicators in a Car that is travelling ahead of you. These indicators may give the signal to turn right but how far is it reliable?
Is it genuine or false signal?
Price is something nobody can fake. But indicators can be. I never trade on them but use them as ref
Think of indicators in a Car that is travelling ahead of you. These indicators may give the signal to turn right but how far is it reliable?
Is it genuine or false signal?
Price is something nobody can fake. But indicators can be. I never trade on them but use them as ref
