Discretionary Traders Trade information flow. Are trying to anticipate what the market will do. Are subjective; they read their own opinions and past experiences into the current market action. Trade what they want and have rules to govern their trading. Are usually very emotional in their trading and taking their losses personally because their opinion … Read more What Kind of Trader are You ?
Few Important quotes which can keep you going into this amazing field of trading: Tony Saliba “How do you lose money? It is either bad day trading or a losing position. If it’s a bad position that is the problem, then you should just get out of it.” “Clear thinking, ability to stay focused, and … Read more Notable Quotes from Market Wizards
Great traders have really mastered a core set of skills: 1. They recognize when they are wrong. 2. They incorporate new information into their existing plans. 3. They execute at a high level. They perform. 4. They recognize when they are right, and they push their winners. Below, I review each core competency in greater … Read more Qualities of Great Trader
Remember that becoming a profitable trader is a journey, not just a destination. The perfect trader does not yet exist. Try to become a better trader each day and enjoy the progress you make. Concentrate on learning the craft of technical analysis and on improving your trading skills, rather than focusing solely on the amount … Read more Trading Basics
Lesson Number One: Cut your losses quickly. As soon as a trade is contemplated, a trader must know at what point in time he’ll be proven wrong and exit a position. If a trader doesn’t know his exit before he takes the entry, he might as well go to the racetrack or casino where at … Read more Jesse Livermore’s trading rules
Nifty has been rallying from past 1 week, 260 points in 5 days. Most of traders were bearish were holding shorts. With such sudden spurt many traders are caught of wrong foot and now finding it difficult to cut their trading looses and go with the main trend. The fear most of traders have What … Read more Why traders are unable to cut their trading losses?
1. Ask yourself do you really want to take trading as a profession or You want to do trading as its the easiest way to make money ? Before you can develop persistence and eventually achieve success in the tough trading game, you need to first identify if this is truly what you want to … Read more How to Improve Futures Trading Success
To taste success in trading whether you are a Stock, Bonds, Forex or commodity trader professionalism will keep you one step ahead from rest of the trading crowd. So with the below points try to analyses whether you are taking your trading as a professional or still as an amateur who keep on losing money. … Read more Are you a professional stock trader ?
“I know it may sound strange to many readers, but there is an inverse relationship between analysis and trading results. More analysis or being able to make distinctions in the market’s behavior will not produce better trading results. There are many traders who find themselves caught in this exasperating loop, thinking that more or better … Read more Trading Wisdom by Mark Douglas
There is very little that is new in the world of trading psychology but mastering the basics and mastering our mind is essential if we are to develop as highly efficient traders. The following are common discipline issues and suggestions to counteract them. Discipline is needed if you are to succeed as a Equity,Commodity or … Read more Ten Common Reasons Traders Lose Discipline And How To Avoid Them.