Trading Psychology - The Cycle of Market EmotionsThe majority of traders spend most of their time looking for good trades. Once they enter a trade, they lose control and either suffer stress from losses or are jubilant with pleasure. They ride along with these emotions and forget about the essential element of becoming a successful trader – keeping emotions under control. Winning traders know the importance of psychology in trading, whilst amateurs are not aware of it or ignore it.
Develop your mental framework, your psychology by reading books, attending psychology webinars, remember, trading is 70% psychology and 30% skill. If you develop your mental framework appropriate for trading, you have won half of the battle.
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IGL Long positional trade setup !Breakout done Today there is an analysis of IGL indraprastha gas limited.
we can go for a long positional trade by putting s small stop loss.
Buy IGL and go for a longer positional
But
After watching the full video till end
After confirmation of trend change
After following all the steps told in this video.
This is a bear market phase and this is not the recovery this is the bullish trap .
so please avoid yourself to put the long positional trade at this time without any confirmation.
Please watch this video complete and follow all the steps .
Please do the multi timeframe analysis during these type of phases .
Guys let me know you that i am a trader and a trader have a winning probability of 50-65% no any trader is there who have a winning ratio more than this . Who says you that i am having a 100% winning strategy then F**k these type of people and try to be correct only 50 - 60 % of time which will give you a lot of money if you properly follow the risk reward ratio .
Guys you can also follow me on twitter for any queries.
RELIANCE Don't take long position still......Hii this is trader Kanishk
This is the analysis of RELIANCE
Here the phase is very volatile and we don't have to took long position in RELIANCE without confirmation .
Reliance is an uptrend stock of=n each and every time frame.
we can take our long positional trade in RELIANCE but after confirmation.
Watch this complete video i've discussed everything.
this is a bear market phase and this is not the recovery this is the bullish trap .
so please avoid yourself to put the long positional trade at this time without any confirmation.
Please watch this video complete and follow all the steps .
Please do the multi timeframe analysis during these type of phases .
Guys let me know you that i am a trader and a trader have a winning probability of 50-65% no any trader is there who have a winning ratio more than this . Who says you that i am having a 100% winning strategy then F**k these type of people and try to be correct only 50 - 60 % of time which will give you a lot of money if you properly follow the risk reward ratio .
DISCLAIMER
I am not recommending you to buy or sell any stock, i am just sharing my analysis here.
Maintain your risk reward ratio and then trade.
Guys you can also follow me on twitter for any queries.
NIFTY TRADE PLAN: 28 APR 20 ONWARDSDont get surprised by the market move. Presenting two possibilities which elliottwave suggest...
Caught the "EXACT BOTTOM"
followup trades
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind
Dhiraj Singh Bais
Warrior @ Battle field
CENTURYTEX - Bearish / Weak at current levelsCENTURYTEX - rejected from previously formed resistance.
If we draw trendline from recent low, its clearly acting as support line.
If breaks below 324 levels from current levels, we can expect good downside upto 310 levels.
This stock can be bullish, INDUSINDBK.
Support 1137 nearby
Final Support 1061 nearby
If price fall heavy, reversal is possible. The tail is an important role in this stock for confirmation of direction.
We have already seen tail last week but it's little smaller.
1242 is first target and last one is 1352 but the expected time will be too far for last target.
TOP 10 Trading Plan EssentialsA trading plan is your roadmap for what you are going to do in the markets. It's something that you have to create and is not optional.
1. How Many Trades will You Use to Evaluate Your Performance?
- The answer to this question is very simple. Base your evaluation period on the number of trades placed and not by the amount of time passed. Time is irrelevant in the world of trading.
2. Identify Your Key Performance Metrics.
- This can be your Risk to Reward Ratio for each trade.
3. What Time of Day Will You Trade?
- For day traders, It is highly recommended you limit your trading activity.
4. Define Your Trading Edge.
- Similar to the times of day you will trade; keep your trading edge down to one or two setups when starting. The more strategies you hope to master, the more difficult it will become to consistently make money in the market.
5. Identify Stocks to Trade.
- Have specific stocks to trade for the day or the week ahead. It can be in terms of news, technical analysis, backtesting results etc.
6. Place Your Stop Loss.
- Stop losses are not a negative thing, they are what keep you in trading business over the long run.
7. When to Exit
- The exit strategy should be as simple as when the stock crosses below a moving average or a trendline, it depends on your trading style.
8. How Much Money Can I Use per Trade?
- Without money management, you will not stand a chance of making it in the business of trading. For me, the amount of money I can use per trade is fixed. All the best trading plans have a limited risk of 1-2% per trade.
9. Trade Management
- Trade management is a crucial element that needs to be addressed in your trading plan. You must know your initial risk for each trade as determined by your initial stop loss before you risk any money on the market. You must plan when you will add to your winning positions and how you plan to exit your winning trades.
10. Take Breaks.
- Taking breaks is essential in trading, which is not discussed a lot anywhere. Taking a break for days or a week can help you to relax and gain more focus for days to come because trading is a mental game.
Maruti - 60min - Maruti ready to rally ?Maruti is in a daily descending channel, which has completed 3 touches indicating a reversal. There is a small falling wedge at the 3rd touch.
Entry after 5546 is broken.
Traders can have a stoploss of 5441
Target 1 - 5650
Target 2 - 5710
This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. We hold no financial liability to any user on account of the use of information provided on this website. Only risk capital which you are prepared to lose.
MAHINDRA AND MAHINDRA - 60MIN - M&M positive after 566 levels Mahindra & Mahindra is in a descending channel at a double bottom structure at a weekly support zone. The RSI suggests a positive divergence.
Target 1 - 566.
Traders can maintain a stoploss of 540
Traders can look for further targets after 566 levels have been broken.
ABB Ltd | 3 way Trade strategies Trade strategy for ABB India Ltd can be approached by 3 ways. Below are the ways mentioned,
1. Since 1620 is good resistance, shorts can be initiated at current levels with stops above previous traded high of 1640. Exit points can be either on i)Rising trendline level or ii)Support area between 1547 & 1567 or iii) 1505/10
2. If the stock breaks the above mentioned resistance and closes above 1620/40 (where eventually the earlier short would be stopped out), go long with stop below 1600 with potential exit point as indicated by Bullish flag @ 1825.
3. If the stock continues to fall and breaks down below 1500 on closing basis, we could get a confirmation of a double Top pattern. In this case, we can initiate short with target as indicated by the pattern @ 1386.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
DLF update: Did you make the most of fall like 9 pins...???DLF
On 4th Sept DLF charts were suggesting of history being repeated and that we might see lower levels of 173 / 166
Well it has done exactly that....
- we saw the stock bouncing back to 76.4% retracement like on previous occassion...
- getting rejected at those levels...
- and falling back like nine pins...
Target of 166 has been achieved.
Hope you were able to make the most of it...
Regards...!!!
TRADER AND TRADING PSYCHOLOGY1 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.
change is hard if we want to be a professional trader\investor we have to work on changing