Are you ready for Trading?

By | May 30, 2013

May Expiry is coming to an end, Have a look at your ledger and see were you able to make profit for the series. If yes Well and Good If no ask yourself the following questions:
1. Do I treat my trading like a business? Have I prepared for it the way I would for a business?

2. Do I have a trading plan—a working document (not a mental note) to guide my trading business?

3. Do I make mistakes regularly (a mistake means not following my rules)?

4. Am I following any corrective procedure to prevent mistakes?

5. Do I have a back tested trading system?

6. Do I know how that system will perform in different kinds of markets?

7. Do I know what kind of market we are in now and know what to expect from my system in such a market?

8. Do I have exit points preplanned for every position I currently have in the market?

9. Have I developed specific objectives for my trading?

10. Do I accept responsibility for that creation?

11. Do I regularly work on myself to make sure that I follow the points above?

 

Write down all the responses that are true for you. If your score is below 7 of the 11, you are not taking your trading seriously. Your financial health is in danger.

You create your own results, and your results right now come  from playing a game with no training.

 

3 thoughts on “Are you ready for Trading?

  1. rj

    thanks sir for your wonderful articles & guidance , god bless you…

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