Buy Call By Rohit Agarwal

Buy MCLEODRUSS TGT 330.............
— Rohit Agarwal (@Rohitagar11) March 31, 2014

Buy Calls By Rohit Agarwal

Buy BIOCON and ULTRACEMCO
— Rohit Agarwal (@Rohitagar11) February 7, 2014

Island Reversal On COALINDIA

IT CAN BE COME UP TO 240

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Anger and Happiness

I am angry after a negative outcome and happy after a positive outcome but in order to adapt more quickly I have to remove emotion from the outcome as soon as possible. It is more important to focus on what happened and less how I feel about it. Prolonged feelings of anger or happiness causes risk blindness and impedes my learning. Misjudging risk will prevent me from taking a trade or taking too much risk.
Indifference: I have already talked about the worst thing that can happen to a trader. No emotion can be a warning sign too. Emotions should not last forever but they should exist.
Emotional Delay: The other issue is emotional delay. This plays out in two ways. If I am exhausted after a trading day it is because I bottled it up and was able to repress it. This happens when I made money doing things that aren’t repeatable, I found the natural winners before the losers. I should have lost money. The other occurs when I turned a good day into a bad day but it happened so fast I never reacted to it.

Three stages of trading objectives

To make money every trade. At first, I did not have the ability to make money every trade. After I had the ability to make money on most trades I realized it was a horrible objective. If you want to make money on every trade you are always waiting. You can never take that much risk and hence the rewards are very small. I was trading 1′s and 2′s to start, which was the right thing to do. I would watch my mentor take every trade, no matter how dog shit it was. As a 1 and 2 lot trader you do not have the same luxury to take dog shit trades because you can only trade one way. Because of the flexibility he had he could do more and the truth is no matter how good or bad a trade looks we don’t know until we are in it. Getting the most out of a trade is the mark of good trader. Risk is always related to reward. There is very little money in making money on every trade. This type of trading is like making 100k and keeping 80K To make huge chunks of money. After I realized that objective did not work for me I shifted to the extreme. I started to swing for the fences whenever I had the ability. It is nice when I was right but I struck out a lot too. At this point, I did not respect trading. I did it because money made me a bad ass. Well as you know you hard to pay your bills with bad ass. This type of trading is like making 200k and keeping 80k. Here are the major risks of having both of those objectives. The first is making small amounts of money no matter the situation. Eventually you will get in a hole because statistically you are behind. Trading every situation the same is bad. The second objective is trying to make huge amounts of money on every trade. If the first trades were the best and I stopped it was great. If the first trades were bad, I was forced to stop. It made it hard to learn.

Driving is like Trading

Driving a motor car or motor bike is probably the best analogy I can think of for trading.
Start, Stop, traffic lights, dogs and cats on the road, cows, give way signs, t intersections, signs saying “kangaroos for next 50 kilometres ahead–and that is just in the first few 100 metres of leaving home– and then when you hit the express way, and consider yourself in the clear, there may be road works, or fog, and unsighted hazards ahead.
It’s very rare you can enter an express way…of start to finish, or finish a journey uninterrupted.
It is our jobs as traders to close down all risks as they appear, in whatever form, to cause minimal bumps and bruises to ourselves. Problematic situations will appear when you expect OR when you least expect them, and when you do get uninterrupted runs, you appreciate them, since it is what you have planned for, but see less often than one may hope for.
Be flexible, bend like the tree, always give way when on the road, and when you hear the sirens move top the left and beware of trouble ahead.