Comment on Mr Consistent returning incredible returns

Madan commented on 16 Jan 2014, 07:16 PM

Prateek,

Good to know that you are not trying to predict. Really good.

There are various ways to exit. Some people use Fibonacci levels, others use predetermined exits, some use Trailing SL, etc. I have found that the last one(TSL) is more attuned to my ideology of trading. I completely believe to my core that markets will decide what it wants to give and when – i don’t have any control over it. TSL perfectly fits my belief. That is why people say “we dont trade the markets but we trade our beliefs about markets”

With all due respect, i would want to ask you a question. My intention is to make you think in the right direction(according to me) not getting an answer from you. Infact, please don’t answer it here but answer it to yourself. What makes you think that you could make money in your job(if you are working) and you tell your boss that you cannot put 100% time in the job? And What would happen to your job if you say that you cannot be in the chair(if its a white collar job) most of the time?

You are telling that you cannot give your attention to the market all the time but would like to make money/learn trading? Is it even feasible? Its like a doctor telling that he cannot attend patients but would want to learn how to treat them successfully. Please think in those lines. This profession is no different. The issue is too many of us think that trading is easy. It is true. But, as i have mentioned in some post earlier, it is simple but not easy.

Honestly, i can exactly see where you are coming from..been there, done that. You have a passion to learn and i congratulate you for that.

Having said all this, I am not saying you should quit your job t’rrow and be full time here but you gotta figure out a way to drive your focus on the markets. Maybe trade EOD charts and see how they pan out for you. I am not sure if this answer really helped you but i hope against hope that you get the gist of this post.

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