r2i forum

techynt;593117Because you keep insisting you are good at it. And then you want to get in using 5%. In a bull market day trading is the easiest thing to do, but people lose their shirts when market get volatile.
Its a game of luck, possible to make money, but you are still counting on market not going ape shit on you.

I take that as an "Yes, that is a problem" answer to my second question.

Plan2010;593289always assumed in U.S there is no concept of saving..everybody is running after more and more credit..whereas Indians generally save..:)

Let's assume for a second what you are saying is true. Since very few save in US, very less amount (Supply) is available for CDs. But banks need money (Demand). If you apply the simple supply and demand rule, interest rates should be more in US than in India where supply is more. So aren't you contradicting yourself?

techynt;593350I guess the basic premise is you enter a trade and book profits/loss on trailing stop order.

But the big question is when do you stop, after how many losses in a day. If we have 2% trailing loss stop order. Say we lose 2% for the day since first order bombed on us. What is the rule for that, stop trading for the day or enter another trade?

BTW why do you look for only one point profit target, Why not let the trade run till the trend reverses?

I only look for one point profit target simply because I am not good at spotting long trends. I probably need to work on developing that skill as I look to quitting day trading. I know that can be done by simply applying what I am doing on a one minute chart to longer term charts with reasonable stop loss. Also I trade on one minute chart. Looking for longer profit targets on a one minute chart is not really a good idea. My stop is also relatively tight for current markets. Looking for longer profit targets mean relaxing stop loss.

I do not have a rule for daily stop loss. I keep looking for trades. But that was never a problem for me. My problem starts when I don't book my loss and instead look for doubling down. Very bad thing to do. It was very difficult to get rid of that habit. As I told, about 80% of my trades are profitable. But when a trade goes bad, I used to make it worse and make the small loss into a huge one because of my stubborn nature.

EminiTrader;593352I only look for one point profit target simply because I am not good at spotting long trends.

:) almost like conceding the problem at a group therapy session for marriage counseling, especially setup for twitchy traders.

EminiTrader;593352I probably need to work on developing that skill as I look to quitting day trading. I know that can be done by simply applying what I am doing on a one minute chart to longer term charts with reasonable stop loss.

The early anxiety of "the other" spouse applying Stop-Loss can save marriages.

EminiTrader;593352Also I trade on one minute chart. Looking for longer profit targets on a one minute chart is not really a good idea. My stop is also relatively tight for current markets. Looking for longer profit targets mean relaxing stop loss.

I do not have a rule for daily stop loss. I keep looking for trades. But that was never a problem for me. My problem starts when I don't book my loss and instead look for doubling down. Very bad thing to do. It was very difficult to get rid of that habit. As I told, about 80% of my trades are profitable. But when a trade goes bad, I used to make it worse and make the small loss into a huge one because of my stubborn nature.

I often see exhorting posters on walls of company meeting rooms.... exhorting their employees to the right sort of behavior.... you know, motivational posters.

Perhaps homes should also get such decors.... certainly not the ones like those in this powerpoint.

Plan2010;593315
I am not sure if it is hijack because I seem to have same thought process as Op's wife..so if she is reading the thread hope it helps her too..

She reads this thread and your posts definitely do not help her :)


If you think about it, it is not the money that you need in your retirement. You need food, medical services, home, electricity, internet etc. Money is used to trade for these things or services. Now make a list of all things that you get for that 40k rupees now. Go to any bank in the world and ask them to provide those things/services guaranteed for the 50 lakhs rupees that you give them for the rest of your life. You can even offer them to keep that money after you are gone. Come back here and post the name of the bank. I am sure many members in this forum would love to jump in with their 50lakhs on such offer.


Your FD in the bank doesn't sit in a locker room and get you 10%. And your bank doesn't produce any goods. Your money probably ends up with a company that produces goods/provide services. These companies (stocks) take the money from you, produce things you need with your money, sell those things to you for a profit, pay you back from those profits that are generated from your money on the first hand and in this process become very rich. Now let's say you are competing with them to get the same thing say a piece of land. Who do you think is going to outbid and grab that piece of land? And who do you want to be in this whole process?

EminiTrader;593351Let's assume for a second what you are saying is true. Since very few save in US, very less amount (Supply) is available for CDs. But banks need money (Demand). If you apply the simple supply and demand rule, interest rates should be more in US than in India where supply is more. So aren't you contradicting yourself?

Seriously..as I said before I haven't given it much thought..banks are giving jumbo loans for all those mansions those cash poor people own..and when the bank runs out of money they print more of it or run to the U.S govt and ask for more hand outs..isn't that how it works here..:confused::confused:

EminiTrader;593358She reads this thread and your posts definitely do not help her :)

Sorry about that..my first suggestion was to get the advice of an expert financial consultant..if you post a public thread like this you'll get all kinds of inputs helpful or not helpful..no option but to grin and bear it. Btw, why don't you ask her to join the forum and start posting..will be good to see more magenta members participating..:)

EminiTrader;593358
If you think about it, it is not the money that you need in your retirement. You need food, medical services, home, electricity, internet etc. Money is used to trade for these things or services. Now make a list of all things that you get for that 40k rupees now. Go to any bank in the world and ask them to provide those things/services guaranteed for the 50 lakhs rupees that you give them for the rest of your life. You can even offer them to keep that money after you are gone. Come back here and post the name of the bank. I am sure many members in this forum would love to jump in with their 50lakhs on such offer.


Your FD in the bank doesn't sit in a locker room and get you 10%. And your bank doesn't produce any goods. Your money probably ends up with a company that produces goods/provide services. These companies (stocks) take the money from you, produce things you need with your money, sell those things to you for a profit, pay you back from those profits that are generated from your money on the first hand and in this process become very rich. Now let's say you are competing with them to get the same thing say a piece of land. Who do you think is going to outbid and grab that piece of land? And who do you want to be in this whole process?

50 lakhs and 60 years were just some numbers and some thought process I am following currently..but since we are at it..currently if a family is having so much after all expenses taken care of I think they can live comfortably in India..it doesn't matter how much you have..it is how you spend it that matters..for that matter even if you put 2 crores(as someone else has put as the magic figure) and start living on that..I can tell you it can disappear in a year if you don't know how to manage money..

Plan2010;593361Sorry about that..my first suggestion was to get the advice of an expert financial consultant..if you post a public thread like this you'll get all kinds of inputs helpful or not helpful..no option but to grin and bear it. Btw, why don't you ask her to join the forum and start posting..will be good to see more magenta members participating..:)



50 lakhs and 60 years were just some numbers and some thought process I am following currently..but since we are at it..currently if a family is having so much after all expenses taken care of I think they can live comfortably in India..it doesn't matter how much you have..it is how you spend it that matters..for that matter even if you put 2 crores(as someone else has put as the magic figure) and start living on that..I can tell you it can disappear in a year if you don't know how to manage money..

You seriously need to think/read more about finance. 2 crore is not there for you to spend, its there to grow so that inflation can be taken care. You still get to spend only 40k per month.

Plan2010;593315 .. I need to look at options other than FD for my retirement funds..

We Indians invest on our kids so that they can help us when we run out of money after retirement.

That is how old parents are surviving in India without 2 cr retirement savings and stock market.

EminiTrader;593337

Having said that, it is also very easy if you stick to your strategy and stay disciplined. It requires cut throat discipline. I do not need the market to do anything but just move. I don't need it to be an up day or down day. Actually down days help because my trades are filled super fast because of panic.


I do good when I stick to my rules and stay disciplined. Problem starts when the established rules are violated. They get violated because I am human. I get greedy sometimes. I keep hope sometimes. Your competitors powerful computers don't have these emotions. Basically one needs to be a robot. The less you think, the better.


Anyways, it took a lot of hard work to get to where I am. Throwing away all that hard work is not easy. There is no denying that I lost money. It is very easy to develop skill but very difficult to stay disciplined. I probably don't have it in me to execute that cut throat discipline. I lost money because I failed to execute. It is tough to give it up after all that hard work but ultimately, I will give it up for my family.

I feel for you man! Its not easy to throw it away what you have worked hard to develop. Only suggestion I have for you is to see if you can outsource your strategy. Hire a guy/girl in India, pay them 10K a month or something like that. Have them execute your strategy. Ensure that person will not be able to do any transfers out of the account. When it is a job and when there is no attachment to the money, emotions would generally be low. Keep monitoring the performance and check to ensure that the person is not deviating from your plan.