The most common problem faced by day-traders and it's easy solution which is extremely difficult to implement.
A thread.
( uses concepts I have discussed many times before in separate threads)
Train ---- Play tournaments --- Rest
Rest = taking time off markets
Train = trading in markets in training mode
Understanding REST is easy, simply take time off markets and spend time with family or do something you love
Paper trading or trading on a simulator is never good training as it never gives you the same psychological issue while actual trading. Deep down you know this is fake, you are not making or losing actual money
Trade 1 lot ( I am speaking about intraday options trading, cash traders can do this with a simple share of any stock) following your system/process for one month. This sounds easy, right?
First month = 1 lot
2nd month = 2 lots
3rd month = 4 lots
4th month = follow money mgmt/position sizing with a small bet per trade
Same with trading. Best of luck ! 🙏
https://t.co/oqCwSz8kfW
Perhaps you have the idea that calling me " 1 lot Nandy" is somehow derogatory and a easy poke at me. Allow me to explain why I look at this moniker as a badge of honour https://t.co/1Q8tOQ2U6a
— Subhadip Nandy (@SubhadipNandy16) July 16, 2021
More from Subhadip Nandy
My presentation on Money Management was based on a lot of sources as I mentioned. For traders interested on those sources , here they are
#OptimalF
Portfolio Management Formulas: Mathematical Trading Methods for the Futures, Options, and Stock Markets by Ralph Vince
The Mathematics of Money Management: Risk Analysis Techniques for Traders by Ralph Vince
#SecureF
#FixedRatio
The Trading Game: Playing by the Numbers to Make Millions by Ryan Jones
https://t.co/U0c65EbEog.
#OptimalF
Portfolio Management Formulas: Mathematical Trading Methods for the Futures, Options, and Stock Markets by Ralph Vince
The Mathematics of Money Management: Risk Analysis Techniques for Traders by Ralph Vince
#SecureF
#FixedRatio
The Trading Game: Playing by the Numbers to Make Millions by Ryan Jones
https://t.co/U0c65EbEog.