vanathi
Education

Trader's Queries - Trading Psychology Part 7

NSE:NIFTY   Nifty 50 Index
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Whatever trading teaches it improves our life too. When a person is a good trader he becomes a better and good person too in his personal life. Always share market gives lesson for trading as well as for life. Today we are going to read about my favourite role model/hero, "Shivaji The Great". And how is he related to trading? Keep on reading and you will know.
During 1600 AD Moghul kings and Hindu kings were fighting to take down each other.When Shivaji was young he took a vow to free his country from Moghul kings. Shivaji started to establish an independent kingdom by conquering the near by forts. Seeing the growth of Shivaji, Sultan of Bijapur sent his general Afzalkhan. Afzalkhan was a cunning man and he planned to kill Shivaji when he meet him for peaceful meeting. Shivaji did not believe Afzalkhan, but agreed to meet him. Shivaji wore a steel dress and a helmet under his silk dress, hid a dagger and steel claws under his dress. When they meet Afzalkhan pretended to embrace Shivaji, he started to tighten his grip crushing Shivaji. Afzalkhan was strong, tall and big. Shivaji was short and quick. Shivaji quickly pulled out his steel claws, dagger and killed Afzalkhan.
Trading Lesson : Lot of time traders hesitate to enter trade when their stoploss got hit frequently. They start to watch market instead of trading. Prepare trading plan, face the price action with a plan. When price action turns against you, atleast you have a plan when to get out. Dont run away from trading. Be quick in executing your trading plan. Market wont wait for anybody.
Lesson for life : Whatever your problem is, you are bigger and stronger than it. Dont run away from your problems. Face it. Always have a plan when situation turn against you. Plan and execute it fast. Be quick and stay strong.
Comment: Shivaji became "Shivaji The Great" because of his mother Jija Bai, who moulded his character. On this Mother's Day We should thank our mother for giving her uncoditional love/support in our life/trading Journey.
many people who have achieved success in some or other field of activity get attracted to trading - most of them fail because they think that the methods that gave them success is other walks of life should do the same in trading too - holding on to your views through thick and thin is considered to be a virtue in normal life, but it can prove to be detrimental in your trading career where success demands that you quickly change your opinion in line with the market action ! In normal life success belongs to those who are able to control the external reality through leadership and initiative - however in trading success belongs to those who realise the futility of attempting to control the market reality and instead choose to follow it meekly !!.
Reply
vanathi TOP ananth1960
@ananth1960, In trading or life we have to go with the flow, not against it. If we hold on with our trading plan instead of changing it often, we can get success/ Thank you for sharing your view.
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ananth1960 vanathi
@vanathi,........you are right - in trading going with the flow is the way winners act - however in real life going with the flow is the mark of mediocrity - winners are the few who go against the flow - in real life if you change your opinions according to circumstances you would be looked down upon as an opportunist and a fickle minded person - ok let us leave it at that
Reply
vanathi TOP ananth1960
@ananth1960, The above incident happened in Shivaji's life explains how to handle enemy who act as your friend and how to change you view/act fast. In real life here in trading view I got threat from an old lady whom I thought as a well wisher. I changed my perception about her fast. Hope you got the picture now :)
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