Sunday, January 16, 2011

Know your Risk - Caveat Traders

Rajeev says try to become a better trader in a single scrip of your choice each day and enjoy the progress you make.

Concentrate on improving your trading skills, rather than focusing amount of profit or losses in your trading.Dont feel good about a Profitable trade when you have done what you were supposed to do.Don't get too depressed about the losing trades.Please Don't blame the market or your broker or jaggu, if u lose after hearing him.Losses are an opportunity to focus on whatever problem occurred during the trade.

To succeed in trading, you must learn to perceive opportunity where most others see none.

Your ego can make you bankrupt/broke. a profitable trade creates powerful emotions that distort reality. The more you do profitable trade, the better you feel, and your ego takes over. The joy of winning is what gamblers seek. A gambler will lose as many times as necessary just for the thrill of winning once.

Individual risk tolerance and preferred trading timeframe make each trader unique. Select a trading methodology that reflects your preferred timeframe and risk tolerance.

The market is an amalgamation of the mindset of all trading (bulls,bears,sheeps,deer,pigs and all others) participants. The daily tug-of-war between the bulls and the bears reveals what they are thinking on a daily basis.Never buy just because the price is low or sell just because the price is high.Never average a losing trade.

Traders need to listen to the market,u need to pay attention to trading methods,charts and the market. The trader's challenge is this: Learn who you actually are and then consistently and consciously develop the qualities that allow you to trade well.

As traders, the more we can detach ourselves from the emotions of hope, greed and fear, the better our chances for trading success.

The market has far more patience than the majority of traders. There is an old saying that the market will do whatever it takes to drive the largest amount of traders crazy. Trends can persist as long as there are traders fighting them. Don't fight the market/trendn.Remember jaggu always says, the markets is always right.

a Simple Trading system for Beginners:
A Trading system is a defined set of rules that trigger entries and exits in a particular market.

Best example of a simple trading system is called an "Opening Range Breakout" (also called ORB in geek),which is wait with hands on head until a stock or index has opened for the day and after the first 30 minutes of trading, if the price breaks above or breaks down below that 30 minute range, the "system' would trigger a buy order if breaking above and a sell/short order if breaking below.
Post a Comment

Popular Posts for last 7 days

All Time Popular Posts

Eq mkt Holidays for the 2017 year

Sr. No.

DateDayDescription
126-Jan-2017ThursdayRepublic Day
224-Feb-2017FridayMahashivratri
313-Mar-2017MondayHoli
404-Apr-2017TuesdayRam Navami
514-Apr-2017FridayDr.Baba Saheb Ambedkar Jayanti/ Good Friday
601-May-2017MondayMaharashtra Day
726-Jun-2017MondayId-Ul-Fitr (Ramzan ID)
815-Aug-2017TuesdayIndependence Day
925-Aug-2017FridayGanesh Chaturthi
1002-Oct-2017MondayMahatama Gandhi Jayanti
1119-Oct-2017ThursdayDiwali-Laxmi Pujan*
1220-Oct-2017FridayDiwali-Balipratipada
1325-Dec-2017MondayChristmas

*Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently.

The holidays falling on Saturday / Sunday are as follows:

Sr. No.DateDayDescription
109-Apr-2017SundayMahavir Jayanti
202-Sep-2017SaturdayBakri ID
330-Sep-2017SaturdayDasera
401-Oct-2017SundayMoharram
504-Nov-2017SaturdayGurunanak Jayanti