So What should be your basic expectation from Trading ?!
To be Billionaire overnight ? yeah guys, millionaire not in our list anymore, too much of crowd in that zone (or)
To make every trade right ? (or) To become professional trader ? (or) To make decent money everymonth ?
Not yet, don't choose your options too soon because the right perception/choice : SURVIVA...
Not just beginners even for those who are in trading for sometime, your main aim should be : To Survive in Trading field. Why Surviva became most important factor here ?
Take a moment away from your charts, come fly with an Eagle's perception over trading world what do you see there ? Institutions, Hedge Funds, proprietary trading firms with money overflowing in their coffers,Big Sharks with deep pockets, Banks & Broking firms with best brains in the world. Not over yet, sharpen your sight, the best brains in the world compunded with advanced codes, HFT strategies which executes trade in fractional seconds, perfect analytical reports on their desk & highly productive team on demand anyday,anytime. That's an exponential combo you can't even imagine of...
What does a beginner/rookie have ? An intel inside or Apple maybe, with non-buffering hi-speed internet for you-tubing. No, Don't land on the ground, Be the eagle...Weigh their probability of success if they face (Firms vs Rookie) against each other, watch the battle between former & later, do you think some common'er with no survival instincts or tactics, can survive this battle & come out unscathed ?? The odds are same as someone jumping out of plane without parachute & surviving.
So, You or Me or Someone else can't survive here ? Only if there is Survival Instinct within you. It's broader topic : You should have a Plan, You should have discipline, You should be ruthless against your emotions - kill them, You should have the capital & Most of all you should stop your bleeding in battlefield which is losing capital gradually over time. Stop Trading till you find that way for consistent wins. A simple question friends, will you play a game if odds are stacked against you ? Will you go in for some battle knowing that you don't have plan ? Finally, will you wage a losing war ??? None will do that DOT
Have a Plan n Discipline.Our aim is not to take hedge funds or bigsharks head on, we are not interested to take sides with them also. Then,what else ? We will just wait for the right opportunity to evolve in the Market & We seize them with utmost discipline. That's how SURVIVA works... We will have our part of losing trades, but we will eventually get more consistent winners than losers overtime.
Don't just aim at generating profits in the Markets, SURVIVA is the mantra to sustain here...
Open Discussion's most welcomed...
2.we dont have plan strategy to executeor we dont follow i too do same mistake
3.Haste makes Waste
4.our weakness overpowers strength like we forget discipline while trading
5 Due to above reason STRUGGLE GOES ON N ON ON ,,,,,,rksharma1091
I have been eaten by the greed and beaten by the fear. :)
You have rightly put that survival need in a mind will create the body and mind to learn and maintain the discipline.
New traders who often think roaring and trying harder by muscle is the solution as one needs to quickly recover losses but in actual, doing a trade with single quantity till you have the confidence is the best way to minimize loss and remember courage is always roaring, it's sometimes the quiet voice at the end of the day to quietly say "I will try again tomorrow"...