Take some time and refresh – relax – review your rules, trading plan, and prepare for whatever comes next without any prior assumptions.
It’s not just winning that need to be taken wisely but drop-downs as well. You need to be mentally liquid to actually achieve what is called losing well.
If you rushing the process of being a trade, you just one flick away from crushing it. this process is all about embracing what you have what you are doing about it.
Life of a trader!
As a human being, you are bound to feel emotions of every sort. As a trader, you are expected to keep them as far as possible from your financial decisions.
My experience in the market has taught me that the only friend that can get you of a complication with the least deprivation is Tread. Spend time on tread analysis and play your edge along.
Like your last day!
Trading like it’s your last day isn’t something to preach if your goal is wealth creation. You always have tomorrow, next week, next month and next year. Go slow and smooth.
Our foremost goal when trading should be to save our capital and there always are, intelligent and stupid ways of doing the same. . You can “bet and forget” or “bet and nurture”
It’s often said that either you can ride change or change will ride you, the latter being a lot more brutal. Well, this pretty much applies in trading too.
According to me, hopping from script to script has never turned out positive for anyone in long term. Stick to a watchlist. Stick to your long term goals.
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Here is the truth if you are an aspiring full-time trader. You will have to work in a way that no external emotional or physical influence should come in the way of your work ethics.
The only way to survive in the market is to take a trade, the outcome of which is something that isn’t affecting you psychologically. things are good only until they are manageable.
Should you trade?
Before beginning your trading day, always ask yourself whether you are ready to trade today? Do you have a plan? Are to psychologically stable? If not, you are going in to make it all worse.
Save your share!
Taking money out of your trading account as per your wins is as important as collecting rent from a tenant. If you don’t do it, trading as a career is not going to make sense at all.
You can learn all the strategies in the world and one single day of no risk management will take it all ways from you. There is no such thing as “let’s try our luck today” in the stock market.
I am well aware of the feeling of stop-loss hitting. In that particular moment, it isn’t just the red figures that we are fighting with, but also our expectation and ego.
There is a difference between letting your trades work for you & making your trades look like they will work for you. Mental illusion is a huge barrier to successful trading.
It’s not the analysis, technical and fundamentals that you should trust the most. You can deal with any and everything if you can count on yourself with your rules and beliefs.
The hype stocks!
Well yeah! I am talking about the news channels induced hype stocks here. You might make some money here & there, but this will hit you bad once for all, some fine day.
Market events keep coming and going, just making my beliefs on price action stronger. Imagine the feeling of being on the right side of the trend, no matter what the circumstances.
“Day trading is the hardest of all trading styles”. I couldn’t agree more. One cannot just get up & decide “I will trade today” and expect something profitable out of it.
Thank you for your time. Happy trading!!