Forex & Share Trading Journey

Nut-Nights

Nut-Nights

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Hi

This is going to be my personal Journal.

I am learning Share trading from last few weeks. My main source of knowledge is Google and youtube.

I am not promoting any product and service related to forex or share trading.

I always wanted to jump in to share trading but lack of funds and risk involved in this particular niche is really high.

I am still not going to spend thousands or anything.

For forex, I am going to practice using a demo account and see If whatever I have learned actually works or not.

For share trading, I am going to trade in Indian Market with real money, but only small plays.

Let's start with a sweet loss

7owZKW5


This is going to be a little boring. Do not PM me regarding this.
 
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82% :eek:! Are u using leverage? for share do u trade them based on news or randomly? also for forex since u are using a demo account i will suggest u to try the macd strategy
 
@Razen666 those two trades were based one news. But Indian market followed US market for some reason. Not going to repeat the mistake.

For forex, I am going to use Forex.com
 
Nut-Nights said:
For forex, I am going to practice using a demo account and see If whatever I have learned actually works or not.
Click to expand...

This is where a lot of people mess up. They just use random indicators without understanding them fully besides the buy/sell when it crosses this line, etc.

Glad to see you actually practicing your strategy to see if it works before jumping in.

I hope this is a good journey for you.
 
I am learning to trade for few months too . So you are from india ...Do you follow candle pattern
are you a intraday trader ?
 
jhn2001 said:
I am learning to trade for few months too . So you are from india ...Do you follow candle pattern
are you a intraday trader ?
Click to expand...
Yes, India. Yup learning price action and how to read candle charts and demand-supply etc. Going to start intraday with good quantity, when I am going to achieve 70 to 80% accuracy.
 
@Nut-Nights It's nice to see a fellow trader trading in the same markets..
1) If you're beginning than I won't recommend Options right away at the beginning..
2) Zerodha is really fcked these days.. The only that it is good for is it's UI.
3) Pro tip: Don't take lots of leverage(Margin) in the beginning.
5) Indians markets open coherent to Dow and S&P but always close with their own logic.
4) Hit me up on, TraderJi. ;)
 
Update:

Still holding my previous position in Indian Market. The market is going crazy, So I decide not to take new trade with real money.

For Forex:

I am doing good with forex part using a demo account. Test different currency pairs.

GnDzbTc
 
Nut-Nights said:
Update:

Still holding my previous position in Indian Market. The market is going crazy, So I decide not to take new trade with real money.

For Forex:

I am doing good with forex part using a demo account. Test different currency pairs.

GnDzbTc
Click to expand...
U should maybe look into usdjpy, idk but for some reason i used to love trading it. Also what's the reason for u to trade the 1m chart?
 
Razen666 said:
U should maybe look into usdjpy, idk but for some reason i used to love trading it. Also what's the reason for u to trade the 1m chart?
Click to expand...
Someone advice me to master 1 min chart first. Going to look into USDjpy for sure.
 
Nut-Nights said:
Someone advice me to master 1 min chart first. Going to look into USDjpy for sure.
Click to expand...

1 min charts are good for scalping.

I have been scalping a bunch of forex pairs for a few days now. I mentioned this before in a different thread that I moved from oil after over 7 years since the cost to trade oil went up like crazy since the crash this March. I hope to go back soon though! COVID screwed oil traders big time!

My results scalping forex:

screenshot.136.jpg


As you can see, if you have the right tools and the right mindset, you can make a nice side income trading.

Good luck on your journey!
 
Today was NIFTY expiry in Indian Market. I booked a sweet loss.

NPrCjI6


That red box trade is a loss, but the one above is going to expire on 28 June. Hope I will be able to recover something out of it.

Lessons Learned:

Never predict the future of the market based on some news.
Never buy anything in the market at highs.
Going with trend is good but be careful if you are planning to hold positions.

As far forex goes:-

I think it works little different, I am not sure, but price action sometimes doesn't work for me in Forex.

zzeKuVO


I am going to do more research on Forex topic.

What I am going to do next?

Well, I am going to start with old school Paper trading in the Indian market, that's like $100 loss. I am going to post a few screenshots.

The advice I ignored which cost me $100 "Start with paper trading If you care about your hard-earned money"

Going to follow it.

TL;DR: Losser lost $100 buck in trading and now crying.
 
Nut-Nights said:
Today was NIFTY expiry in Indian Market. I booked a sweet loss.

NPrCjI6


That red box trade is a loss, but the one above is going to expire on 28 June. Hope I will be able to recover something out of it.

Lessons Learned:

Never predict the future of the market based on some news.
Never buy anything in the market at highs.
Going with trend is good but be careful if you are planning to hold positions.

As far forex goes:-

I think it works little different, I am not sure, but price action sometimes doesn't work for me in Forex.

zzeKuVO


I am going to do more research on Forex topic.

What I am going to do next?

Well, I am going to start with old school Paper trading in the Indian market, that's like $100 loss. I am going to post a few screenshots.

The advice I ignored which cost me $100 "Start with paper trading If you care about your hard-earned money"

Going to follow it.

TL;DR: Losser lost $100 buck in trading and now crying.
Click to expand...
indeed ! never buy at high, always buy low. You will learn a lot of things with time :D
 
Good luck with your journey! It's better to go with equity instead of options if you're a new trader. Your emotions will easily be triggered while trading in options ... ;)..
 
Dont go for options, and don't do an "all-in" with options like that. Use them smart, and try not to gamble unless you're drunk.
Nut-Nights said:
I think it works little different, I am not sure, but price action sometimes doesn't work for me in Forex.

zzeKuVO
Click to expand...
No offence but it was clear the market was going down, even with no indicators. Lower highs, lower lows, its like the first things you should check. And you bought at the top of the previous high, now you're in for a long wait or for a loss if you used leverage.

If I were you, I'd do for hourly or daily candles. You're looking with a microscope at a market that makes move that lasts days/weeks. So you're effectively gambling a little bit. Your moving average is also too short, you have to make it make sense too. If you keep your positions open for 3 days in average, your average should reflect that.

Let's say I do one trade a week, I want to be sure I buy low(er than average), and sell high(er than average). So my moving average would be 7days long at least, since I want to know the price is lower than it was in the past 7 days. Not sure if it makes sense, but maybe it will help since you're trading on averages. so with hourly candles it would be [7 x number of trading hours in the day] (varies for stocks and forex i think)
 
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