part study behind the idea given on 2/5
1 Decide that you are in markets for long haul. that is you want to be a trader\investor even 20 years from now
2 learn as much as you can. read and listen to experts but keep a degree of healthy skepticism about everything ask questions and do not accept expects at their words
3 Do not get greedy and rush to trade take your time to learn, markets will be there with more good opportunities in the months and years ahead
4 develop a method for analyzing the markets
5 develop a money management plan
goal must be long term survival
a steady growth of capital and in due course making high profits
most traders put the last one first
6 be aware that a trader is the weakest link in trading system
7 winners feel think and act differently than losers you must look within yourself strip away your
illusions and change your old ways of being, thinking, and acting.
8 trading appears deceptively easy. when a beginner wins he feels brilliant and invincible.
then he takes wild risks and losses everything
9 good traders tend to be hardworking and shrewd. they are open to new ideas.
the goal of a good trader is not to make money his goal will be to trade well if he does that money follows as an afterthought.
successful traders keep honing their skills trying to reach their personal best
10 trades must be based on clearly defined rules.
have to analyze feelings as we trade to make sure that decisions are intellectually sound
have to structure money management so that string of losses should not kick us out of the game
11 the key sign of gambling is the inability to resist the urge to bet.
if you feel that your are trading too much and the results are poor stop trading and give a break
this will give a chance to re-evaluate trades.
INVEST TIME TO PLOT AND PRACTICE CHARTS AS MUCH AS YOU CAN.
Once, Lord Indra got upset with Farmers, he announced there will be no rain for 12 years & you won’t be able to produce crops.
Farmers begged for clemency from Lord Indra , who then said , Rain will be possible only if Lord Shiva plays his Damru. But he secretly requested Lord Shiva not to agree to these Farmers & when Farmers reached Lord Shiva he repeated the same thing that he will play Damru after 12 years.
Disappointed Farmers decided to wait till 12 years.
But one Farmer regularly was digging, treating & putting manure in the soil & sowing the seeds even with no crop emerging.
Other Farmers were making fun of that Farmer . After 3 years all Farmers asked that Farmer why are you wasting your time n energy when you know that rains will not come before 12 years.
He replied “I know that crop won’t come out but I’m doing it as a matter of “practice”. After 12 years I will forget the process of growing crops and working in the field so I must keep it doing so that I’m fit to produce the crop the moment there is rain after 12 years.”
Hearing his argument Goddess Parvati praised his version before Lord Shiva & said “You may also forget playing the Damru after 12 years!”
The innocent Lord Shiva in his anxiety just tried to play the Damru, to check if he could….and hearing the sound of Damru immediately there was rain and the farmer who was regularly working in the field got his crop emerged immediately while others were disappointed.
It is the practice which keeps on making you perfect.
We become even diseased or old just because we don’t practice.
Practice is the essence of quality survival.e to re-evaluate
1 Decide that you are in markets for long haul. that is you want to be a trader\investor even 20 years from now
2 learn as much as you can. read and listen to experts but keep a degree of healthy skepticism about everything ask questions and do not accept expects at their words
3 Do not get greedy and rush to trade take your time to learn, markets will be there with more good opportunities in the months and years ahead
4 develop a method for analyzing the markets
5 develop a money management plan
goal must be long term survival
a steady growth of capital and in due course making high profits
most traders put the last one first
6 be aware that a trader is the weakest link in trading system
7 winners feel think and act differently than losers you must look within yourself strip away your
illusions and change your old ways of being, thinking, and acting.
8 trading appears deceptively easy. when a beginner wins he feels brilliant and invincible.
then he takes wild risks and losses everything
9 good traders tend to be hardworking and shrewd. they are open to new ideas.
the goal of a good trader is not to make money his goal will be to trade well if he does that money follows as an afterthought.
successful traders keep honing their skills trying to reach their personal best
10 trades must be based on clearly defined rules.
have to analyze feelings as we trade to make sure that decisions are intellectually sound
have to structure money management so that string of losses should not kick us out of the game
11 the key sign of gambling is the inability to resist the urge to bet.
if you feel that your are trading too much and the results are poor stop trading and give a break
this will give a chance to re-evaluate trades.
INVEST TIME TO PLOT AND PRACTICE CHARTS AS MUCH AS YOU CAN.
Once, Lord Indra got upset with Farmers, he announced there will be no rain for 12 years & you won’t be able to produce crops.
Farmers begged for clemency from Lord Indra , who then said , Rain will be possible only if Lord Shiva plays his Damru. But he secretly requested Lord Shiva not to agree to these Farmers & when Farmers reached Lord Shiva he repeated the same thing that he will play Damru after 12 years.
Disappointed Farmers decided to wait till 12 years.
But one Farmer regularly was digging, treating & putting manure in the soil & sowing the seeds even with no crop emerging.
Other Farmers were making fun of that Farmer . After 3 years all Farmers asked that Farmer why are you wasting your time n energy when you know that rains will not come before 12 years.
He replied “I know that crop won’t come out but I’m doing it as a matter of “practice”. After 12 years I will forget the process of growing crops and working in the field so I must keep it doing so that I’m fit to produce the crop the moment there is rain after 12 years.”
Hearing his argument Goddess Parvati praised his version before Lord Shiva & said “You may also forget playing the Damru after 12 years!”
The innocent Lord Shiva in his anxiety just tried to play the Damru, to check if he could….and hearing the sound of Damru immediately there was rain and the farmer who was regularly working in the field got his crop emerged immediately while others were disappointed.
It is the practice which keeps on making you perfect.
We become even diseased or old just because we don’t practice.
Practice is the essence of quality survival.e to re-evaluate