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Considering everything the last 1 month returned twice the amount of Profits that we had in the previous 10 months.
Another highlight I see is that the NAV hasn't marked a single day red below par except in the first month for around 10 days. We normally mark 1st day of trading in financial year as 100 NAV and proceed to calculate NAV on a daily basis.This is a marked improvement over prev yrs
Yet another highlight of this year's trading review has been sharply lower costs-gaps,slippages,statutory costs etc- nearly 15-20% lower than benchmark set by us based on earlier year average. Two reasons we attribute this to:
1. We have discarded several products which resulted in higher slippages and gaps while trading-both normal and runaway gaps;Statutory costs remain almost the same.
2.Reviewing each and every trade at the end of week and taking corrective action.
We had reviewed over 30000 trades
For all those budding traders a piece of advice.
People think trading is an easy job. We just punch in orders and then everything is handled by the brokers.
Sorry. Real work starts after 3.30 when you review the trades.What was your system. Whether you really followed the system.
What is the resultant effects on your trading with actuals set before you and the rules by your side.
2 things emerge. You are critically evaluating your system and its efficacy.
Also you are evaluating the way you had executed the system and the final results in real life
Remember always that the more the exacting standards that you set the more difficult the execution of the same in real time.
Again I reiterate this:
Remove yourself from executing the trades. If machines can handle the situation just check whether the execution is o.k. Else
always allow a dealer appointed by you to handle your trades.
A 3rd party handling the trades facilitates your emotions not affecting the execution and results.
Also your view will be from the top and hence you will appreciate what is possible and what is not.
Happy Trading Life!
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