Read Full Thread before getting fascinated about making money.
Just sharing to motivate young traders who have lost a major chunk of their capital and still have courage and enthusiasm to trade and become a consistent trader.
1/n
Yes i blew up my capital 6 times between Sep 2015- May 2017 loosing around 9 lakh rupees.
By gods grace being from a well settled and upper middle class family i always knew that i had my family business as the lender of last resort.
But I didn't stopped
2/n
May 2017- Dec 2017 around 8 months were the life changing period for me.
I wanted to give last try to markets.
I started reading books , i started watching videos.
I started going to different people asking queries about charts , indicators
3/n
I was giving 100% to markets , like a mad child.
Because i knew this was my passion.
I used to watch everything available on internet regarding markets , charts , analysis etc etc.
Hardwork was paying off.
I was discovering new ways to analyse charts , indicators, risk mgt
4/n
position sizing , types of candles etc etc.
After working very hard for some months i started trading again with small capital.
Discovered some setups which i was continuously practicing and studying during the study period.
Kept compounding my capital for some trades
5/n
Capital was not a issue for me so kept adding capital at some months time.
Slowly increased my number of lots from 1 to x.
Became a very great and consistent trader in BNF futures (thanks to alligator setup) and some other 2-3 setups which made me stand on my feet
6/n
One thing which requires when you keep increasing your capital is consistency.
Very less people know this fact that all of my trades are punched by my staff(not in covid due to work from home) just to not envolve my human emotions.
7/n
I wish to share my current capital and what i made in next 3.5 years but i am not here to showoff anything.
One simple thing i made a great decent amount x times of what i lost in first 2 years.
My motive is to show that "IF I CAN DO ,YOU CAN ALSO"
8/n
Raasta Lamba hai lekin Naamumkin nahi.
In last tweet which i have deleted have told what i have recovered from markets.
Those lucky people who read that keep yourself motivated , and stay down to earth.
Keep helping each others.
Like this we all will grow together
The End
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Learning Thread On Open Interest
From the book "The new Trading for a living"
A long thread please read and retweet if you find useful.
Open interest is the number of contracts held by buyers or owed by short sellers in
any derivative market, such as futures or options
1/n
Stock market shares are traded for as long as the company that listed them stays in business as an independent unit.
2/n
Most shares are held as long positions, with only a
small percentage of shorts. In futures and options, on the other hand, the total size of
long and short positions is always identical, due to the fact that they are contracts for
future delivery.
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Decide that you are in the market for the long haul--that is, you want to be a trader even 20 years from now.
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Rule no 2.
Learn as much as you can. Read and listen to experts, but keep a degree of healthy scepticism about everything. Ask questions, and do not accept experts at their word.
3/n
𝗪𝗛𝗔𝗧 𝗜𝗦 𝗣𝗥𝗜𝗖𝗘 ?
Traders can be divided into 3 groups: buyers , sellers and undecided. Buyers want to pay as little as possible, and sellers want to charge as much as possible. Their permanent conflict is reflected in bid-ask spreads
1/n
ASK is what a seller asks for his merchandise.
BID is what a buyer offers for that merchandise.
A buyer has a choice: to wait until price comes down or pay what sellers demand. A seller has similar choice: wait untill price rise or accept a lower offer for his merchandise.
2/n
A trade occurs when there is a momentary meeting of two minds: an eager bull agrees to a seller's terms and pays up, or an eager bear agrees to a buyer's terms and sells a little cheaper.
3/n
Answer both the questions thread read my answer too.
Read Full Thread
Q1. How many active sources of income do you have ?
Q2. How many days/months/years can you survive on your savings (if any) if all your income sources stops !
Q3. Are you confident enough currently to take trading as a full time career and not looking back any day from today ?
Q4. What second best alternative do you consider as doing if you quit trading someday ?
My Answers
Answer1 . I have 5 souces of income(Rental , insurance brokerage , trading , family business of travel agency and real estate investments)
Answer 2. I can survive for atleast a decade if all of my sources of income stops today.