I have Confession to be made about my two Weaknesses:
1) I have a obsession to be in the market all the time, I can bear loss by whipsaws but can not let nifty go anywhere without my position in it. People often send me suggestions to be out from market for some time until it gets trendy again, But I just can not do it. I often hide this weakness of mine by replying that by the time markets will appear to be trending ,It will be too late to enter, which more often than not turns out to be True. So I do not feel the need to work on this weakness :)
2) I Just love Nifty and very Loyal to it by not trading anything else :). My wife calls Nifty her "Sautan" :), She often complains that I spent more time with Nifty than with her :)
Even when Nifty is doing nothing and giving me whipsaws, I don't even think to trade any other instrument like Banknifty, Commodity or Forex. You can call it my obsession with nifty or my stubbornness. I do not even have a Demat account , I only have a trading account with Zerodha only for Equity. I often hide this weakness of mine by saying that my focus is only on Nifty, like Arjun had focus on the eye of Fish :) Since things are working fine with Nifty, I do not feel the need to work on this weakness too. :)
Hi Pawan,
ReplyDelete1) We try to have at least 2 or 3 major swings (100+ points) to get ourselves in profit and avoid the minor losses in whipsaws. In my opinion, we can have major swing profits if we wait for the right signal and so our monthly overall profits will be lesser. Moreover, when we are strong uptrend or downtrend, we try to use TSL rather than SAR and so we are out instead of going against the stream.
2) Regarding second point, in discretionary trading, lot depends on feel of the instrument like NF. We can not apply the same method and try to be profitable. it takes a while to develop the intution or feel. Plus, when we are making money in NF, why put our money in something else. Rather increase lot size to earn more money.
I am also very passionate about trading and so I feel like opening account to trade emini futures in night to get the feel and start earning in $ :)
Anyways, above is just my opinion based on my limited knowledge and I might be wrong (which will be proven by my ledger rather than anything else).
Beware, Pawan Sir! Nifty will take care of your ledger book as long as you stay loyal with her. So I wish you will keep flirting wid her provided that bhabhijee too will start loving this soutan vry soon(or she may have already started loving her huh??).
ReplyDeleteConsistent Gains over month on month..my best wishes for quarter on quarter..year on year! Thanks:)
Yeah,She has no choice than to start loving her :)
DeleteThanks Sagar, Wish you all the best too..
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ReplyDeleteArun, Why did you remove the comment, It was a good question to be answered :)
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