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CNXPSUBANK trade ideas

Trader's Queries & Newbie's corner - Can everybody trade? Part 3Today I am writing about one of the most asked questions. Most traders face this situation. Only very few take necessary steps to rectify it. Query : After making huge losses, I am putting my money again in trading. It is painful to get loss, Every time I get loss, I panic, still I am adding money to capital and trade. It affects my peace of mind. What to do? A Answer : A trader should know the difference between trading & gambling. Trading : The trader has back tested strategy and trade with proper risk, money & trade management. Not impulsive in trading. Gambling : No strategy or trade set ups. Trades will be placed on impulsive thoughts. Dont know the reason for taking a trade. So now how to take control of your actions? Step 1 : Take a break from trading for few days. Think about the mistakes you have done. Step 2 : Believe you have the power to change your bad trading habits. Step 3 : I will give you an example. If you take a bus to delhi, you will reach delhi only, not Mumbai. To go to Mumbai, you have to take Mumbai bus not a bus to delhi. Similarly doing the same thing which gave you loss wont make you profitable in the present. This is important for you understand it. Then only you will look for ways to rectify your trading mistakes. (To be continued...)
NSE:CNXPSUBANKEducation
by vanathi
2
Newbie's Corner - Part 2 Can everybody trade? Every expert trader was once a newbie trader. Every Pro trader was once losing money consistently. And everybody starts trading with zero experience. Why very few only become a successful trader? How a person approach trading decides it. If you want to swim, you know very well theory knowledge wont help, only experience helps you to swim. Someone will instruct you and wearing a life jacket you will be learning. Also in the first day itself you wont learn to swim in sea. You will start with a pond or small river. Similarly in trading, technical knowledge is your life jacket. So many study materials are available in internet about trading to improve your basic knowledge and to paper trade. Learning from an expert trader saves your time and increases your trading/learning curve. Using small position size is like swimming in pond. Its not like you can learn if you have big amount as capital. Big capital increases your fear & greed drastically and as a newbie it will be tough to handle.
NSE:CNXPSUBANKEducation
by vanathi
Newbie's Corner - Can everybody trade?Trading is one of the most glamorous businesses. Why it attracts so many? Why people jump in to trading without any second thought? Any profession needs certain education, specialized degree in it to succeed. In trading anybody can trade if a person has money, demat account, internet and computer/mobile. Unlike other jobs trading don’t need any job interview. You are your own boss(yaay :)) . You have full freedom and also responsible for your actions. These are the advantages which attract people to invest their hard earned money. Now lets see the disadvantages. Let me explain it with an example. Can a person do surgery on the first year of medical science? Can he do surgery even if an expert surgeon gives proper instruction in the operation theatre? Answer is “No”. Similarly in trading, without experience a person cannot make consistent money. So before investing your hard earned money just ask yourself, “Am I qualified to trade?” This will make you to take proper steps to become qualified for trading. Trading is the only business which has unlimited profit & it gives abundant money to the traders who are qualified to get it...
NSE:CNXPSUBANKEducation
by vanathi
NIFTY PSU BANK INDEX - Very Bullish The index is forming an Inverted Head and Shoulder Pattern. Just broke out of the Downward Channel resistance this week. In about 2-3 years the index should reach its target of 4340 but before that happens its intermediate targets will be met. Between 2660 and 3360 there could be some consolidation going forward. Immediate short term - MACD crossover should give this space some momentum. My Fav picks from the index include SBI, BOB, PNB, Indian Bank, Central Bank & Canara Bank.
NSE:CNXPSUBANKLong
by CannySunny
9