Comment on The Intrinsic Rewards of Trading

jose francis v a commented on 26 Jan 2018, 11:46 AM

i have been trading for 11 months now, post my retirement. I have been an investor for 30 years. Boy, trading is
a different ball game. I use a combination of 8 period stochastic and Bollinger Band and also some knowledge of
Elliott wave approach.Support and resistance at 3 minute level is another important tool I use.
And the weakness in myself is what causes my losses. My reluctance to implement a stop loss,(Big ego),
adrenaline rush on three successful trades — these are my weaknesses. Now I play chess on my mobile to make my mind more defensive. 5/21 is my scoring rate against the AI program in my mobile. Losing a chess game against
mobile makes my mind more defensive (and need to revenge wants me to play again , heard of revenge trading?).
As a big trader said in Chat with Traders interview building consistency and persistence is key to winning this game.
I believe i am about to take the first step – consistency. And the draw down was Rs 44000 in 11months.
And I trade in Nifty options now, having switched from Nifty Futures .( A humbling experience)
Currency futures were cheaper ( only when europe opens there can a change in trend, intra-day).
I hope this is useful for all new-bees out there!
josefrancis va, N Paravur, North of Cochin.Kerela

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