Plan your trades. Trade your plan.
Keep records of your trading results.
Keep a positive attitude, no matter how much you lose.
Don't take the market home.
Forget your College degree and trust your instincts.
Successful traders buy into bad news and sell into good news.
Successful traders are not afraid to buy high and sell low.
Continually strive for patience, perseverance, determination, and rational action.
Limit your losses - use stops!
Never cancel a stop loss order after you have placed it!
Place the stop at the time you make your trade.
Never get into the market because you are anxious because of waiting.
Avoid getting in or out of the market too often.
The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
Always discipline you by following a pre-determined set of rules.
Remember that a bear market will give back in one month what a bull market has taken three months to build.
Don't ever allow a big winning trade to turn into a loser. Stop yourself out if the market moves against you 20% from your peak profit point.
Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
Split your profits right down the middle and never risk more than 50% of them again in the market. The key to successful trading knows yourself and your stress point.
The difference between winners and losers isn't so much native ability as it is discipline exercised in avoiding mistakes.
Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
Accept failure as a step towards victory.
Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker!
Don’t panic after taking any position....
Winning horse don’t know why it runs in race....
It runs because of beats & pains.
Life is a race, God is your rider,
if you are in pain then think,
GOD wants u to WIN the race….
I’ has found some good things which I adopt in my trading & I want 2 shares with u. I hope you’ll enjoy.
>>> It’s Your Money, Take Control…..!!! <<<
(01) Trade with a Plan: Always made a Plan than go to trade. 1st Calculate what is your Risk & what is your Reward. Don’t trade in “Hose-Pose”. Opportunities r never going 2 ends in this market.
(02) Stay with a Trend: If u move with a trend than your probabilities of success are far greater than losses. Don’t buy when a Stock/Commodity falling & don’t sell when a Stock/Commodity Rising.
(03) Use Money Management Techniques: Cutting a loss quickly is the best Money Management. A lot of time Traders/Investors fall in love with their position. Don’t be in Love with your Position… Don’t!!!
(04) Buy & Sell on Confidence: Sometime u wants 2 Buy/Sell but u doesn’t feel its right decision. Than don’t trade. “Don’t try 2 find a Good Reason 4 making a Bad Decision.
(05) Always use Stop Loss (SL): The proper use of SL will protect profits & limit your losses. When u go 4 trade u place a stop 2 limit the loss; in case the trade goes against u. When the trade becomes profitable, u uses it to lock in a profit.
(06) Everyday is not a Trading Day: Only trade when the Sector/Market give clear trend. Just because u want 2 trade doesn’t mean you’ll find an opportunity. Only trade when its probabilities in your favor. Don’t become 'Addicted-2-Trade'.
(07) No one Wins-100% of Time Because Nobody is “GOD” in this Market: “Lots of people enter the market focused only on the profits & do not consider the Losses”. If u think for 1 minute, u r going 2 win all the time, you are Wrong; Losing is just part of the Cost of doing this Business.
(08) Lear 4rm your Mistakes: The most Successful traders & aggressive investors learn from their mistakes. Mistakes can be costly, so use them as learning experience & don’t make the same mistake twice. Because it can swipe your whole Capital. “Don’t cry on your mistakes, just learn through them. Because Mistakes can make a man perfect: also a woman in this field”.
(09) Bulls r Always Winner…? One of my senior always suggest me buying is always safe. Because u know what 2 loose. Is it true??? Nope!!! Its not. R u able 2 holds your Buying till the bottom out…??? Because nobody knows the Top as well as Bottom in the market. We can just predict.
(10) Know How 2 short; it’s an Art: Markets do not go up all the time. Bear market mean u can’t make money…??? Nope!!! Common sense says u have 2 follow the trend. Can u imagine only 4%-5% Indian Public ever short a Stock/Commodity in there Lifetime. It’s shocking. Then who is selling in bearish market…??? Does u know the market falls 67%-80% faster than they rise? “It takes 3-Months time 2 developing a Healthy Bull Market & it CRASHED>>>>>> only in just 3-Days. It doesn’t mean I’m encouraging u 2 go short @ any level. Always move with trend because it’s an Art.
(11) Follow the Rules: If u follows these rules, u has a much better chance of success than someone who doesn’t. Always remember there is no guarantee of Success because nobody is ‘’GOD’’ in this market. But if u follows the rules of trading than your chance of loosing r less than your chance to win.
“Always remember, it’s your money.
Take Control…… and follow the rules you’ll win definitely.”
There are somethings which i have learnt in my small experience from people i have learnt from and read about of ....Prevention is better then cure ...Better to have small holes in the pocket then big holes in ur portfolio ...
Below i have quoted some of the lines on trading and speculation written in the book of William D Gann, the only analyst and trader who was the tracked by New York times and had greatest returns ever...Gann Analysis being the most difficult analysis to understand ...
You must always put a stoploss to preserve capital
A small loss or several small losses can easily be made back with one large profit but when you let large losses run against you it is hard to get them back.
Remember when you are out of the market the only thing you can lose or miss is an opportunity.
The fear of the market is the beginning of wisom.
Never average a loss rather buy on the way towards profits.
The most important of all ( HUGE FNO traders and Margin traders. )
When you make a trade you should never risk more then 10% of your capital and if u have a few losses reduce your units of trade.
Some of My views :
1) FNO trading and margin trading .
How many of u guys would buy your food or clothes on margins none isnt it. Gann the best analyst says risk 10% of capital. In FNO trading in major stocks u put in 20-30% as margin. So you know ow much you are risking. actually at times people the accumulated mark to market margin additions become more then the margin needed to trade.FNO was meant for hedging and not for speculating and if you are speculatinng have a stoploss. In Bucket shops an old term a one or two point margin was played on like u buy at 100 stoploss is at 98 bcoz it was only about profit or loss u pay and not any margin so u buy say 10000 shares u give him 20k . I would rather like that at least u know what u r risking. And thats why i have never insisted on FNO trading for all its only who can afford that risk taking.
Now you will say stoploss hit hota hai aur fir bhagta hai...So i keep no stoplosses.All the suckers put in sell orders after the buy. like a guy buys a stock at 100 in FNO keepa sell at 103. When the brokers call him at 96 sir margin he replies cheque will be sent cool sucker na want a rupee give a 5 ....,
The winners put in a stoploss after they buy and keep trailing the stoploss more then keep selling orders....Find what u want to be the sucker who talks only about his good trades.
To end with : If you have lost money doesnot mean you are incapable of making money but educates you to make bigger and easier money.
I ll end of with a few lines in the final notes of the book....
"If i can throw a single ray of light,
Across the darkened pathway of another;
if i can aid some soul to clearer sight ,
of life and duty , and thus bless my brother;
If i can wipe from any human cheek a tear ,
I shall not then have lived in vain while here.
"IF U LIKE THIS STUFF PASS IT AROUND
i feel it will help others too ...