kingfisher3210

Thats what i am working on- Trading with price only. I see the charts quickly to see how price has behaved- where it hit.

Badly stuck. The Naked truth is no one knows what will happen. You could sell your margin position in loss i.e 14000 shares and keep the other 14000 shares in your trading account for investment purpose.

Thanks for your best wishes. Good luck with our trading endeavors. Very well said. You are referring to our 'rat/reptilian brain'. It is a small primitive brain which sits deeply within our new brain- neocortex- logical and thinking brain. This rat brain when activated like in trading causes fear and greed. Fear and Greed spoils the 'trading edge'. The idea is to deactivate the fear and greed emotions during trading but not to deactivate other useful feelings like intuition. If i am long in futures market and market goes 20 ticks against me, rat brain will be activated causing fear and inducing me to close the position at small loss. I am practicing to consciously deactivate the fear and greed during these times and it is surely helping. I can see the change coming in me- More calm and composed during trading. One year has approx 250 trading days. Over a period of 4 years, i will be exposed to 1000 trading days. I will also be working on last 4 years patterns. So my left brain will organize and internalize approx 2000 day trading patterns and structures. This 2000 day trading experience will be used by my right brain to generate an intuitive whisper in my subconscious mind about the possibility where price is heading. I am training my self to use both left and right brain. Left brain is responsible for analysis and internalizing and right brain is good in matching patterns and intuition + rat brain trading. Certainly trading is at least 90% Neuropsychiatric and Neuropsychological. Without working on psychological issue, it is next to impossible to make consistent gains even if a trader has got an 'edge'.

I have developed a plan to put in 5000 hours of training over a period of 3.5 years in strengthening neurons and synapses inside my brain to create trading pathways in my brain neural network enabling me to execute day trades flawlessly. As a discretionary trader who is reading price action, understanding the ebb and flow of markets, internalizing the patterns, the training in edge + mindset goes side by side. For mindset training, i love mark Douglas trading in zone and making notes out that book so as to integrate them with my cognitive thinking. I am very sure to reach to the stage of unconscious competence- Executing the trades flawlessly, i have to train the neural network inside my brain.

Big Thanks to Janice for producing great articles on trading. Janice is an excellent doctor by profession and she knows how brain works. Janice article about synaptic trading is so true, that when i read that article i wanted to weep. Yes, i wanted to weep because from the ocean of wrong guidance which is available to traders, this article stands out as 100% true. There are 100 billions neurons connected with 1000 trillion synapses in our brain. Learning happens when through constant revision we strengthen the neuron and synapses connections inside our brain. The harder i work, the luckier i get is true because the harder we work, synapses and neurons gets strengthen in our brain leading to skill development. Any profession in world be it medicine, accountancy, engineering, motor driving etc requires training so that brain pathways forms in our brain. The problem in trading is that we have to do self training all by ourself as there are no coaching institutes available. I am inspired by Janice life. She studied hard to become a Doctor, she had worked as a head in a big company, she had faced health issues in 1990s, she had faced losses for 3 years when she started trading in 1996- She faced these challenges, fought hard and won. 95%-99% loose because they have not strengthen the neurons and synapses inside their brain leading to flawed synaptic execution during trading hours. Lots of love and regards to Janice for her invaluable and outstanding guidance.

Studying accountancy and getting a job in real economy helps us to pay bills. The global GDP is $ 61-62 trillion growing at 4.5-4.8% per year. This is the real economy which creates jobs. I myself like a simple life but recently i had an endoscopy for acidity issue and took an intense antibiotic course. The total medical bill came out US $ 400. Insurance didn't paid for an outpatient treatment, so i had to pay from my pocket. This is the problem in life- There are certain bills which can not be avoided- Medical is one of them. I want to day trade. But after doing trading for a year, i had figured out i need atleast 5000 hours of theory and practical training before i go live in the market. This much effort is required to develop brain pathways and strengthen neurons and synapses inside my brain to handle the market movements. 5000 hours means at the rate of 30 hours a week, it is going to take me 3.5 years to develop skills. So, i have to work full time, save money and pay bills. To realize my day trading dream, i have to let go few other pleasures in life. One of them is marrying a woman and reproducing babies/making a family. As a man and head of the family, it is my responsibility to put food on table, take care of them and give time to my family. So the time which i have to give to my family, i can devote that time in developing day trading skills. Family is a great pleasure but i have to do a trade off. Trading is a virtual economy. Trillions of leveraged dollars are floating in cyberspace and winner takes it all in a zero sum game. Without putting 5000 hours of practice in learning this new skill, i am very sure i will be one of the majority losers out there in trading ecosystem.

I hate Spread Betting. They make up their own rates after market hours. They act as broker and act as an exchange. I dont think they hedge all their trades. Since many end up on loosing side, they earn not only commissions but the money which a trader has lost as well. I love when my bid/ask order goes directly to exchange floor and i am trading among real human beings. I will never ever open a spread betting account.