Let’s say you are a full-time day trader and exit your positions by mid day. How do you spend the rest of the day usually?
playing games, watching some videos, may b reading or may be even getting into another trade.
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Not in front of the screen.
Generally after a winning or losing trade i stop trading for sometime ( lets’s say half an hour or 1 hour sometime) Thereafter i prefer to track the markets just like before but this time i raise those standards high, which i generally follow, to enter a particular trade. For example today i was able to make 5k profit in 40-50 minutes after opening of market, after which i stopped myself from doing more trading(Reason: Greed enters in mind and hinders the rational way of thinking) However today i couldn’t find any more trades and merely finished with tracking the markets.
If you are a full time trader, how do you play games after trading for only half a day?
How do you call yourself a full time trader then?
Depends on how the day’s been after the markets close. Either ways, I smoke a joint to relax myself.
I am not a full-time trader but I trade Intraday only.
If my 1st trade is profitable and its just 10-11:30 AM I take one more trade and If 2nd Trade is also profitable After that I take One more trade this goes till 3:20 PM
After This I open my watch list of Current If There I see any Opportunities I take trade this goes till 4:30 PM (I recently started Currency)
If My 1st Trade is in Loss I take one more Trade to cover that Loss And Again I make Loss in 2nd Trade and To cover Both Trades Loss I take 3rd Trade Again I make Loss In 3rd Trade. This Goes on Till 3:20 PM ( Most of Time my loss get cover But I end up Paying Brokerage & Taxes )
In market Open Hours I never Do Time pass.
After Entering in Positions I search of New Opportunity.
This is my short story of Intraday Trading.
@Dorkstar1 i am a full time positional trader. so once i am in a position, what to do,so i keep playing.
I read news and watch News Channels.
Study options data of Nifty and select stocks.
Check FII trading activity in FNO.
Prepare for next day.
Try to learn new things about trading.
Without thinking about previous trade i ll look for next opportunity as per my strategy
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If previous trade is a loss you need to look at why it went loss and try to see if any strategy is wrong. Reviewing of failures is necessary, then only we can improve.
Loss is part of the strategy. I will get loss in 2 situations
- Part of strategy. (No strategy will work 100%). Mostly this loss will be small
- When breaking the strategy. This is due to greed and fear. This losses will be big. I am improving myself to avoid these
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How do you curb your temptation? I find it incredibly challenging at times. On other days, I just feel good about myself and don’t do it.
I am trying to be a full time trader. Finding another avocation to also be mentally sane!
Smoke a joint then go off to sleep listening to hotel California by eagles. Also eat some sweets after the joint
I wish I could do that too!
I was under the assumption that a full-time trader was one who made a living only through trading. I didn’t think it was a trader who spent his full-time in front of the trading terminal.
A full time trader never misses an opportunity to trade and you can never know when an opportunity will arise.
After winning or loosing trade , first i will analyze my trade , try to take one more trade , if my last trade was in positive , i will risk 50 % of that for another trade , if last trade is negative , i will stop trading for the day , and start preparing for the next day trade, and also i will closely watch the market for the rest of the day.