Bullish but wait for the key support
Keep an alert and wait for the trend break, If you want much safer position.
Position Sizing and Stop-loss: ₹50/share.
Example:
If you have 100 Qty, Be prepared to loss ₹5000.
If you are having the position, if there is a black swan event be ready to loss ₹10000.
If you have the same risk with 4 other positions, if all trades go bad the next day due to a big event. You shouldn't worry about the money you lost.
Losing is a part of the trade, losing is a part of life. But any kind of loss shouldn't make you hate the game.
Money you should never use:
1. Bank Loan
2. Parents Insurance
3. Parents Life Saving
4. Your Savings
5. Don't use your 100% salary of present month
6. Borrowing money from friends
Strict checklist:
1. Will you have a good night sleep if stop loss is hit
2. Did you have good sleep and good breakfast(Body needs nutrition when you are in stress)
3. Don't trade when you are upset(If you had a fight with your spouse, if you didn't over come someone's death or someone is hospitalised). Don't trade
4. Did you analyse the trade?(If you have copied the trade you should at least do your part, instead of just losing money, do your own home work). You have to know good and bad news before the market opens.
5. Always make sure you sip water and eat fruits in between, which carry oxygen to your brain(less stress and make your brain functions well)
6. Take a break every 2 hours don't see the screen.
7. Don't panic when you see the losses, don't touch the screen or mouse. (Walk away, see from the 3rd person view)
Common Mistakes:
1. Improper position Sizing
2. Not following strict stop-loss
3. Cutting down profit instead of waiting for the target.
4. Seeing Support and resistance lines instead of Regions.
5. Not seeing the the trends and volumes being traded.
6. Not able to understand multi-time frame and taking position by short term trend
7. Not caring about broad market.
Position Sizing and Stop-loss: ₹50/share.
Example:
If you have 100 Qty, Be prepared to loss ₹5000.
If you are having the position, if there is a black swan event be ready to loss ₹10000.
If you have the same risk with 4 other positions, if all trades go bad the next day due to a big event. You shouldn't worry about the money you lost.
Losing is a part of the trade, losing is a part of life. But any kind of loss shouldn't make you hate the game.
Money you should never use:
1. Bank Loan
2. Parents Insurance
3. Parents Life Saving
4. Your Savings
5. Don't use your 100% salary of present month
6. Borrowing money from friends
Strict checklist:
1. Will you have a good night sleep if stop loss is hit
2. Did you have good sleep and good breakfast(Body needs nutrition when you are in stress)
3. Don't trade when you are upset(If you had a fight with your spouse, if you didn't over come someone's death or someone is hospitalised). Don't trade
4. Did you analyse the trade?(If you have copied the trade you should at least do your part, instead of just losing money, do your own home work). You have to know good and bad news before the market opens.
5. Always make sure you sip water and eat fruits in between, which carry oxygen to your brain(less stress and make your brain functions well)
6. Take a break every 2 hours don't see the screen.
7. Don't panic when you see the losses, don't touch the screen or mouse. (Walk away, see from the 3rd person view)
Common Mistakes:
1. Improper position Sizing
2. Not following strict stop-loss
3. Cutting down profit instead of waiting for the target.
4. Seeing Support and resistance lines instead of Regions.
5. Not seeing the the trends and volumes being traded.
6. Not able to understand multi-time frame and taking position by short term trend
7. Not caring about broad market.
Disclaimer
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