I can say the most asked question from newbie's and also from experienced traders is "Can you explain your trading strategy?" A trade spends more than 2 yrs(approximate) to find a trading strategy suitable for him. I use chart patterns, RSI indicator, fib levels to plan my trade. But only experience can teach when which method is applicable. My interaction with traders has made me to realise that most traders have good trading strategy. The only thing they lack is trading discipline. And this discipline will develop over time only. Once you started to trade as per your trading plan with discipline, earning good money wont be a big deal. Learn with small postion size and once you are doing well with discipline increase it.
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Friends, few people are thinking I have gone to write screen plays like the serials "designated survivor" or "suits". Thats not true and even if I got such chances also I will write my analysis here. Thank you for your affection and support :) Crossed 1000 followers today!
1. Leader of the Leaders ( eg. President of a country)
2. Leader of the Followers ( eg. class teachers/team captains etc.)
3. Follower are of the Leaders (eg. people who worship the chair [read position] only irrespective of the person beholding it ; for personal benifit)
4. Follower of the followers ( like parents...we grow old following them..but they never stop following us..thinking about our wellbeing even in our absence....someone who follow and takes care of his follower...another good example could be god and devotees)
You fall in the last category in true sense.
Wish you never loose interest in writing in newbie's corner!!
vanathi
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@sud_ju99, I see a talented writer in you. You are always encouraging me to write. When I started posting I never imagined I will get more than 100 followers or more than 20 page views. But readers encouraged me to write more. Thank you for your support and I expect it always :)
mackanshunegi
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This is so true, I've been trading for 2 months now (I know i'm just a baby in the game), I've been trying out various approach, methodology, strategies and some have come to fruitation as well. I've also maintained a diary where I write off all my trades as to why I took the trade, money put in the trade, SL etc etc. And I've been doing this a lot lately I broke my 4 days profitable streak just because I went in large (over confidence, broke my own rules, in short indiscipline) and I lost everything of 4 days streak as well as my whole 1 month profits were erased in a single moment. It is really difficult to have control over yourself and maintain the correct mind set. I thought all this were easy but once you're in the zone, I must admit it requires godly discipline and money management skills.
vanathi
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@mackanshunegi, Yes, I agree. Trading discipline is the toughest one, but we can get it by training ourselves. Every traders have faced your experience.
I am glad be 1111th follower :)
hope to enhance my knowledge and trading skills form you.
Thanks