"Trades not taken"

Dear All

Too many queries regarding what trade I took and what all trades I did not take. Kindly note that the trades that I take, the underlying premise is mentioned on the chart itself. Otherwise, question can be asked at every bar, why was trade not taken there. It will not be possible for me to explain the underlying logic of not taking trades. Please note, if I have not taken a trade it might be because of the following reasons:

1. I am a conservative trader, I do not jump onto trades the moment they start taking shape. I usually wait for further confirmation.
2. More often than not I will avoid BO trades, unless there has been BoF of minor/major pivot before that or consolidation of price before BO.
3. Immediately after a strong move in a direction I am not comfortable in taking BoF trades in the reverse direction, unless the strength in the prior move has faded.
4. I will stay out of the market if the direction is not clear to me. Even if that means missing out on few good setups.
5. I might not have read it that way. I commit so many trading mistakes during the day. Not reading charts properly at times, jumping onto trades, leaving too much on table, exiting at wrong places. I do fail to read the price action correctly at times. 

I’ll reiterate, if I have not taken a trade it can be because (i) waiting for more confirmation (ii) Avoiding BO trades (iii) Not trading against a strong move (iv) Direction is not clear (v) I am not able to read the charts at that particular moment.

Will appreciate if lesser queries on ‘trades not taken’ are posed, will be difficult with my bandwidth to answer them all.

Happy Trading!!

Why I don't conduct training programs and webinars

I receive a lot of requests for conducting online/offline training programs. However, I do not conduct any training/webinar etc. owing to following reasons:

1. My schedule does not allow: I am not a full time trader. I have a full-time job that I enjoy. It gives me cushion to trade with conviction. Also, I have tried full time trading too, found it very lonesome process. But my current bandwidth does not allow to squeeze in time for training sessions.

1. Nothing new to offer:  The method, guidelines, structure is out in the open. The nuances that I can read in the market are shared on the twitter itself. Essentially, there is nothing new that I can offer during the trainings. The same method, same theory, same nuances will be discussed. Many participants might not find ‘value’ in it. I see so many traders/trainers offering training on DP method based on some ‘secret recipe’ ‘different terminology for the same concepts’ or ‘ some proprietary add-ons’ to the strategy…in essence it is all the same concepts with marketing gimmicks added to it.

1. If at all…it will come at a cost: If at all I squeeze out time to conduct training/webinars it will be at a substantial cost. I am all for free knowledge, especially when the originator (Nifty Nirvana) kept it free. But my time, effort and energy comes at a cost. It takes time everyday to mark and post trades along with handling queries. That much for what I feel I owe to the trader community at large. The onus of learning it for free is on you. Beyond that, for the same concepts, a premium is attached.

Just to reiterate…I do not have anything new to offer apart from the method that is already available for free. The nuances and market reading I already discuss  on twitter for free. Beyond this (I) my bandwidth does not allow (ii) if at all…it will come at a premium. 

But then, why pay for the same concepts, rather focus on the process:

Read-learn →imbibe →practice →learn/unlearn/re-learn →imbibe →practice →trade small →make losses →learn →trade small →gradually increase →reap profits 

Happy Trading!!