Bears Ruling Dalal Street with Nifty crashing to the most talked and Sacrosanct Level of 4800.
I have came across many traders who have lost a fortune while trading and few people who made a fortune. Trading is a profession in which you require a Army like discipline and a peaceful mind with temperament.
90% of Traders Loose money
So now question arises why Traders loose money?
1. Having No trading system :- Most of Traders i have interacted have no system to trade with. Trading system will help a trader to generate Buy and Sell Levels with a proper Sl.
Trading system should work in all Kind of market and should be properly back tested for at least 3 months.
As an example Trading system i follow has generated the following levels for Today’s
Support for today:4838,4810,4779
So Once i get the Levels my half job is done as I have both buy and sell levels with me.
2. Having no Trading Plan:- Getting Trading levels is not important you need to have a plan to execute those trade with proper sl. You need to develop a trading plan with levels and your emotions written. Belive me writing your emotions will help you a lot.
3. You only trade money you don’t need:- Most of traders who loose money trade with money they require. Once they make a loss they will take more riskier trades and again loose money by doing over trading. Over trading should be avoided.
4. Trading is all about winning average number of trades :- If you think You can make 50% on your trading capital in a month than you are gambling. Trading is more about making money consistently and with discipline. To achieve 50% monthly tgt you need to take riskier trades and if those trades goes wrong you will be at loss of your trading capital.
5. Trading is all about probabilities,Human Ego has no place in this.If you think every trade you do you will come out a winner than you can never become a successful traders. Losing Money is also an Art.
6. Not Maintaining a Trading Journal:- Trading is all about constant learning and evolution. Evaluation is so important to keeping things tuned up that traders analyze every trade to help determine how well the system is anticipating the proper direction and movement of the investment. To accomplish this task, traders keep a Trading Journal.
7. After each trade, the trader analyzes and records specific information about the trade and the mindset of the trader. Not only does the trader learn about the effectiveness of the trade but also the trader learns more about themselves and how they react in certain situations. This regular self appraisal helps to refine the knowledge of ourselves which becomes an invaluable tool not only in trading but also for daily living.
I have Started giving technical Classes on How to Use Trading System (I have developed and personally traded/trading on them).
How to make a Trading Plan and How to maintain a trading Journal
Most Important Discussing and Understanding the Psychology of market.
If you feel you require professional assistance For your trading Please contact [email protected]