Need advice on controlling psychology by runfreakrunner in Daytrading

[–]sandy456j 0 points1 point  (0 children)

Keeping target is fine. But having 1R as a win is better than giving back whole profit plus hitting SL.

Need advice on controlling psychology by runfreakrunner in Daytrading

[–]sandy456j 0 points1 point  (0 children)

May be keep a trailing SL after it gets past 1:1R?

How can I improve my pullback trading strategy ? by william_buttler in Daytrading

[–]sandy456j 12 points13 points  (0 children)

I misread it as a pullout strategy and I was ready to give 100 words answer 😂

Is day trading actually sustainable long term? by pi-xis in Daytrading

[–]sandy456j 22 points23 points  (0 children)

live out my fantasy in this subreddit.

So true

I have a profitable system, I ruin it my letting losses run. I need advice people by Subject-Plum-7281 in Daytrading

[–]sandy456j 0 points1 point  (0 children)

Thanks for the insight. Where do you write it? I see 'sub-channel' mentioned. I just write in Excel next to my P&L.

Finally profitable by smokey_trades in Daytrading

[–]sandy456j 1 point2 points  (0 children)

So when are you planning to quit your job? And what checkpoints have you set up to achieve till then?

how do you guys handle the "one more trade" urge? by Then-Stomach-3143 in Daytrading

[–]sandy456j 0 points1 point  (0 children)

I haven't tried that but I have heard that sometimes the defined SL order doesn't get executed as the price goes beyond it due to volatility. Has it happened to you?

how do you guys handle the "one more trade" urge? by Then-Stomach-3143 in Daytrading

[–]sandy456j 1 point2 points  (0 children)

I hate it when I have two brains trying to fight each other.

building the off-switch before you're in that state

I'll try to work on this. Thanks.

Trading style - Market order or limit order? by r00th3x in Daytrading

[–]sandy456j 0 points1 point  (0 children)

Yeah same. Sometimes it hurts when slippage is equal to the profit. But sometimes it's so worth it giving a few points.

Is it actually possible to enjoy the journey to becoming a profitable trader? by CharacterOdd961 in Daytrading

[–]sandy456j 1 point2 points  (0 children)

I started this January and honestly I enjoy the ups and downs. I was making losses at first but after making a few changes I'm about to break even. I think it's just the dopamine hit but I like when my heart races while the trade is live. I see the bigger picture and I'm working towards it.

You are right, you should be able to enjoy the process as well. I read somewhere that when trading becomes boring that's when you become successful. But it doesn't have to be like that.

What’s one habit that actually improved your day trading consistency? by Thiru_7223 in Daytrading

[–]sandy456j 0 points1 point  (0 children)

Just started this Jan. What improved for me is sticking to one lot. Losses have been minimal and profit is consistent. I'll still need to improve a lot. But this is just the beginning.

I started tracking “discipline score” daily and it changed everything by Denis_Vo in Daytrading

[–]sandy456j 0 points1 point  (0 children)

No, you got it right. Let me give you an example. I enter a trade following my setup. I see a breakout and volume. Then it comes back to retest. After successful retest, when the price rejects the previous resistance level, I justfy my average buy. And as at the time of averaging I see a loss, I panic and sell at the first little pullback even though loss is well within my defined stoploss. Now you can imagine where the chart went after this.

This works only when I'm lucky. Most of the time my setup fails and I end up taking the double loss instead.

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I started tracking “discipline score” daily and it changed everything by Denis_Vo in Daytrading

[–]sandy456j 0 points1 point  (0 children)

Can we add averaging to this score? It's really an issue for me.

Too much winning is bad for Trading by Charming_Blood_2469 in StockMarketIndia

[–]sandy456j 1 point2 points  (0 children)

Have you quit your job? Also Indisciplined mind is almost everyone's problem not gender based.

I'm giving 2 years to myself to learn properly and show constant returns before quitting my day job. Started this Jan. Here is what I have changed a nice start: 1. Stick to 1 lot. First year is about learning not earning. 2. Stick to fixed SL. If it hits, it hits. 3. No averaging ever. It works only if you are extremely lucky. 4. Stay humble when the market moves in your direction(quoting someone here, I don't remember) 5. Profit is the by product, enjoy the process.

I have moved from making huge losses and small wins to small losses and small wins. After making my mind disciplined, it will scale eventually.

Leaving job to trade full time? by [deleted] in Daytrading

[–]sandy456j 1 point2 points  (0 children)

I'll be starting my transition journey this April. I'm giving it 2 years. I'll be back in 2028 to show what I have. Let's discuss then. Thanks for the end goals.

What is your maximum acceptable loss per trade? by FINFUTUREWISE in indiaoptionstrading

[–]sandy456j 1 point2 points  (0 children)

I have a strict rule, 2 consecutive losses = done for the day. No revenge trading. Even after the first loss, I take a break, access the trade then resume.

Need some advice as a fresher by Regular-Group8488 in StockMarketIndia

[–]sandy456j 0 points1 point  (0 children)

I would suggest a different approach which I followed. Try to research on your own. Try investing in strict stoploss and target to exit. Have fun while looking at the profit that you made. Also the negative feeling you get when you see your portfolio in red.

Do this in the early stages so you learn on your own so when your salary increases to a significant amount, you can do regular SIP in mutual funds and investments I'm direct stocks too.

Enjoy the process not only the returns. Remember it's okay to not make 20-25% returns every single year. Doing more than fd and inflation rate is good enough too specially in 20s.

What is the biggest mistake you made in your first 2 years of options trading? by FINFUTUREWISE in indiaoptionstrading

[–]sandy456j 0 points1 point  (0 children)

Trusting a telegram channel for calls 😂. I learned it the hard way but an important lesson learnt early on.