The Ten Tasks of Top Traders




The above chart is taken from The Ten Tasks of Top Trading 

Click on the Link to read in details I am summarizing my Understanding which should be used by traders to be successful.


Daily self analysis: My Guru used to tell me, Real Trading start after market closes, During market hours you are just executing the plan which you made after market closes based on various scenarios which can happen. More you know about yourself better your trading will become. How you react when your SL is Hit, Target are achieved etc.

Daily mental rehearsal: Ask any successful guy, He will always tell  We are what we think of our self, Trading also we need to do lot of mental rehearsal, training our sub conscious mind, on how to take trade, when not to take trade, when to stop trading etc.

Developing a low risk idea: Trade with the odds on your side with a defined risk based on your trading system.

Stalking: Wait for the entry. Utilize patience and don’t pull the trigger to soon. Just Like a Lion hunting for Prey, Wait till the right moment comes. Do not just enter because your gut feel says so.

Action: Take the entry when the signal is hit. Do not freeze up. Do not fail to pull the trigger based on your fears. It required lots of practices.

Monitoring: Keep an eye on what is happening with your position. Track your position till they are open especially when you have taken them on leverage.

Abort: Be ready to cut your losses, when you are wrong and hit your stop loss. Do not hesitate just cut and run.

Take profits: Use trailing stop or profit target when one is hit. Allow the market to take you out.

Daily briefing: Think through your trading & what you did right/wrong based on your trading plan.There is always a scope of improvement, that will only come when you do brainstorming

Periodic review: Is your trading working? Do adjustments need to be made?


  1. sathyanramalingam said:

    Nice and valuable flow chart. Excellent as usual.

    September 22, 2016
  2. soniya said:

    any book/books on how to train the mind ??

    September 22, 2016

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