Every stock trader have different observation in the market. But few are very common that needs to be addressed so that trader can remind and remain on their gut while trading. This is all psychology game inside your head. So, the lesson is pretty hard to practice. It takes lot more time than we think to master the art of trading.
The most common thing that I want to share are:
1. Needless to say Money Management and Risk Management.
2. If things are not going in your favour, lets say for an hour, I think you should get out with booking the very less possible loss.
3. Every second some stock is going up and down. So don't rush to enter the trade. Be patient, analyse well and enter at the right time.
4. Trail the profit in the moderate to low moving movement. But act fast in the fast moving stocks. else catching the profit will not happen. (Trail doesn't work in fast moving stock, it is likely to hit the trigger).
5. It's important to make a decision when to trade, when not. That differentiate between the novice and professional.
6. Biggest enemy in trading is your emotion. Largest friend is your patience.
7. Pattern recognition works in the live market and returns well. So, study the chart pattern. That can be done with lots of practice.
8. Gamble, stubborn, ego, prey don't work in the market.
9. Losing is part of the game. Embrace it wholeheartedly to be a loser in the game sometime. But work upon that and try not to repeat the same mistakes.
10. Don't make the expectation and belief for sure. Have flexibility like nature does have. Else you will imagine, this stock should have moved up to this and you waited and waited. but stock return to the opposite direction after a while. Thus, If it's not moving in your direction now. Execute the trade after half hour in the zone of not going further.
11. Sometimes averaging works. Do average at support and resistance. Else the losses will pile up at the end.
12. You should master the art of entering and exiting the trade.
13. Put a logical stoploss. With combination of support, resistance and fibonacci level, pivot point.
14. Learn from the mistakes. Don't repeat it possibly.
15. Don't over trade, especially to cover the losses and increasing the bet size.
16. First half an an hour is generally very fast trading. So, novice trader should avoid this time. Better to begin trading from 10:00 am.
17. Don't enter the trade untill chart pattern confirms it.
18. Both in life and in trading attitude matters.
19. Fact: stocks falls 3 times faster than they rise.
20. Most time trend last long than we expect. So, try to ride till the end.
Hope this would help to sharp your trading career further.
Happy trading.
The most common thing that I want to share are:
1. Needless to say Money Management and Risk Management.
2. If things are not going in your favour, lets say for an hour, I think you should get out with booking the very less possible loss.
3. Every second some stock is going up and down. So don't rush to enter the trade. Be patient, analyse well and enter at the right time.
4. Trail the profit in the moderate to low moving movement. But act fast in the fast moving stocks. else catching the profit will not happen. (Trail doesn't work in fast moving stock, it is likely to hit the trigger).
5. It's important to make a decision when to trade, when not. That differentiate between the novice and professional.
6. Biggest enemy in trading is your emotion. Largest friend is your patience.
7. Pattern recognition works in the live market and returns well. So, study the chart pattern. That can be done with lots of practice.
8. Gamble, stubborn, ego, prey don't work in the market.
9. Losing is part of the game. Embrace it wholeheartedly to be a loser in the game sometime. But work upon that and try not to repeat the same mistakes.
10. Don't make the expectation and belief for sure. Have flexibility like nature does have. Else you will imagine, this stock should have moved up to this and you waited and waited. but stock return to the opposite direction after a while. Thus, If it's not moving in your direction now. Execute the trade after half hour in the zone of not going further.
11. Sometimes averaging works. Do average at support and resistance. Else the losses will pile up at the end.
12. You should master the art of entering and exiting the trade.
13. Put a logical stoploss. With combination of support, resistance and fibonacci level, pivot point.
14. Learn from the mistakes. Don't repeat it possibly.
15. Don't over trade, especially to cover the losses and increasing the bet size.
16. First half an an hour is generally very fast trading. So, novice trader should avoid this time. Better to begin trading from 10:00 am.
17. Don't enter the trade untill chart pattern confirms it.
18. Both in life and in trading attitude matters.
19. Fact: stocks falls 3 times faster than they rise.
20. Most time trend last long than we expect. So, try to ride till the end.
Hope this would help to sharp your trading career further.
Happy trading.
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