Ever since filmmaker Hansal Mehta’s web series Scam 1992 premiered on SonyLIV, audience and critics have been raving about the series based on the 1992 securities fraud committed by stockbroker Harshad Mehta.
Below are the Few Lesson we can Learn and Implement in Trading
Don’t Underestimate Education
Harshad Mehta Focused a Lot on learning be it Stock Markets or Money market. He made sure he understand the basisc and build on to it. As a Trader we need to focus a lot on our education to be really succesful in trading.
Information is power and experience is the best educator. There is no replacement for experience, but you can learn from others who have been through the ups and downs of trading. Education puts you on the right path, but more importantly, directs you away from dangerous paths.
Have a Plan
The two major things that constantly impede traders are number one – having a strategy. Not just having a strategy but having tested that strategy and knowing that historically it will produce a profit.
And the second major thing is having the discipline to follow that plan. Having one helps you have the other so having a plan that you’ve tested and that you’ve gone through the process with and that you have clearly defined the rules for helps you in the discipline process.
Get Comfortable in Taking Losses
Harsh Mehta got the Opputunity to Repay 500 Cr to Bank after selling his stakge to CITI bank but he did not want to take a Big Hit and because of that the whole Scam was exposed.
Every Trader Will go through a Losing Streak,Sometimes those losses can last a day, sometimes they can last a week and sometimes they can last a whole lot longer than that. Ask any successful trader about their path to success and you will find that it’s paved with some form of adversity. From sleepless nights to blown up accounts, every trader faces obstacles before becoming successful.
Consistency is the Key
You need a consistent set of actions to be a consistent trader.If you constantly follow your rules and trading plan, then you’re going to have a consistent trading performance.
Last and Most Important Alawys be Grounded, Aviod Show off and Remmber there is always a trader better than you so always be a Learner in the market.
Below Song conveys the message very weel which played in end of the season