Most common question I get on twitter is how you manage Job📇 and Trading 📊
I have tried to answer with below thread,hope it motivates few to manage important things in life.
1. I love my Job and stock market is my hobby 2. I have 2 phones and on my main phone I don't have any social media app except office email ,other phone is for using WhatsApp and Twitter which I use for dedicated time and most of the time kept away.
3. I don't have TV📺 in my home and haven't watched the same for couple of years now. 4. I am not active on any other social media like FB,Insta as I don't have any interest in other people's life or other person's photo.
5.For trading📊 I only use one laptop,no extra screen .
6.For any type of learning I mostly read books on Kindle or search on internet rarely use YouTube as it can divert you and waste your time.
7.I have never subscribed to Netflix📺 or Amazon prime.
Didn't watch any movies or webseries from last couple of years except Harshad Mehta webseries as it was related to stock market.
People might think it's boring but for your information I gather experience by travelling across the world not by watching something on screen.
I have visited most of the countries around the world and got lot of experience in professional and personal front.
8.We have 24 hrs in a day , 8 hrs for sleep 9-10 hrs for office 3 hrs for personal task, still you have 6 hrs left. 18 hrs in weekend which you can utilise for learning new skill,travel , spending time with family and close friends .
If anyone has time issue:- Delete all social media app WhatsApp ,Twitter ,FB ,YouTube . Unplug TV . Start reading books( hard copy).
You will have too much time in your life.
If you remove all above you will have atleast 5-6 hrs extra hours in your life.
How you train your brain is how it starts thinking .
Priotizing rules over goals🥅
Train your mind to stay away from unnecessary stuffs and stay focused on your goals
Utilise your time in productive activities
Adopt a good habit and change an old bad habit
Continuous hard work with thirst and patience will help you to reach your goal.
A reversal 📉📈is when the direction of a price trend has changed, from going up to going down, or vice-versa.
Trend Reversal occurs in the market when the price of the stock 📊changes its direction .
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Some important key 🔑points which needs to be kept in mind to find trend reversal.
Reversals often occur in intraday trading, but they also occur over days, weeks, and years. Reversals occur in different time frames which are relevant to different traders.
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Trends can be UPTRENDS📈 or DOWNTRENDS📉 .
An uptrend, which is a series of higher swing highs and higher lows, reverses into a downtrend by changing to a series of lower highs and lower lows.
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Dow Theory named after Charles Dow who is considered Father of Technical Analysis is a financial theory founded on a set of ideas derived from Charles H. Dow's editorials
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He was not the author of any book , but his followers published 📚his work based on his theory.
It fundamentally states that a significant shift between bear and bull sentiment in a stock market will occur when multiple indices confirm it.
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Dow Theory is comprised of 6 Principles
1.The Stock Market discounts all News 📰🗞️📺
The stock market indices discount everything which is known & unknown in the public domain. If a sudden and unexpected event occurs, the stock market indices will react instantly.
As the financial year ended, we could see lots of FY performances on the Twitter timeline generating more than 500%+ returns, good to see people are generating good returns.
My annual performance for this FY is 130% 🎉returns.
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My biggest achievement🙌 is I didn’t have a drawdown⭕️ of more than 2.5% for a week. I was consistently profitable and in green 🧩in the last 12 months.
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My target for this FY - 1. Max loss on Non-Expiry Day should not be more than 0.5%. 2. Max loss on Expiry Days should not be more than 1%. 3. Max loss on overnight positions should not be more than 5% in case of any black swan event.
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There are many strategies in market 📉and it's possible to get monthly 4% return consistently if you master 💪in one strategy .
One of those strategies which I like is Iron Fly✈️
Few important points on Iron fly stategy
This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋♀️
How to implement 1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm 2. Take view of the market ,looking at daily chart 3. Then do weekly iron fly. 4. No need to hold this till expiry day .