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6:22-23 - "The lamp of the body is the eye. If your eye is sound, your whole body will be full of light. But if your eye is evil, your whole body will be full of darkness. If all the light you have is darkness, it is dark indeed!"

16 Feb 2018

stok market--What are the simple things made you a better trader?a tip from an investor.

I actually had the opportunity to learn about trading from traders having more than two decades of experience and also was fortunate enough to work with some of the leading names in this industry.
This experience is something which you won't find in books or videos or any articles for that matter.
The way they used to do their analysis, their thought process, mindset, status quo, I got to experience all this when I was learning from them.
Honestly, tips was something I didn't know. I'm not kidding. Till date I have never relied on tips and would advocate others also to not rely on them.
I was always taught to follow a rule based system. When I say a rule based system, it means having an entry level, stop loss level and a predefined target level. Every time I enter a trade, I make sure I place a stop loss order immediately. I get impatient if I don't place a stop loss.
There's a money management plan I follow. I know my targets for the month. Once my targets are achieved, I stop trading for the month and actually utilize that time to learn something else or enhance my knowledge. This way one can avoid overtrading.
Practice. I go through close to 50 charts daily and always look to keep improving. As they say, practice makes a man perfect! This way, one keeps getting better.
Trading is easy. We tend to complicate it. It's about doing the process right and not worry about the end result.
Yes, if you do the basics right, you will definitely see good results over a period of time :)

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