NiftyMagician : CERTAIN RULES OF TRDING IN MARKET

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NiftyMagician : CERTAIN RULES OF TRDING IN MARKET

Unread postby rawal » Thu Sep 19, 2013 10:09 pm

CERTAIN RULES OF TRDING IN MARKET BY TEJAS

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Re: NiftyMagician : CERTAIN RULES OF TRDING IN MARKET

Unread postby Tejas » Thu Sep 19, 2013 10:24 pm

1...Always use stop loss whenever you are trading thereby minimizing your loss in the event of adverse movement of the market.

2... Never over trade especially to cover your losses. Be bold to book your losses which can be covered later.

3....Never allow the profit to get converted in loss. If you are not able to understand the market movement then keep yourself away from market.

4......Always trade with the trend, do not trade against the trend or else you will burn your fingers.

5..........Tips do not help you to make profit, it only create more tension and results in incurring losses.

6..........Keep withdrawing your profits at regular intervals.

7.......Earning of dividend should not be the criteria of BUYing the stock.

8...........Do not average during trading. Averaging is a sin, It is like a 'chakraviyu' which you will never be able to break, else will create mental tension.

9........Maximize your profits and minimize your losses.

10.....Patience is the toughest & the best way of trading.

11....Do not BUY any share just because its price is very low.

12....Formulate your strategy a day before trading. If the mkt moves in that direction then only trade or else wait. Do not change your original strategy during market hours as it will create confusion resulting in wrong trading.

13.....Always use current live charts.

14........Preservation of capital is paramount. It is precious.

15........Trade only when the market is in trend. Avoid trading during range bound mkt. Money cannot be made every day in the mkt.

16.....Markets are never wrong, our analysis can be wrong. Revisit your process, take corrective action and then only trade further successfully.

17.....Always be flexible in reshuffling your portfolio as share which are leaders today may not necessarily be the leaders of tomorrow.

18.....Trade only the active stocks and futures in which the volumes/open interest is large.

19......Avoid trading based on support & resistance as bear market breaks all supports and bull market breaks all resistance & moves upwards.

20.....If you are not in good state of mind ie. In any tension or you are in any hurry then it is better to withdraw yourself from trade, stand on the side line and wait for your next opportunity to enter. Do not unnecessary enter or else your will incur losses.

21....Never try in bottom fishing of share, it may go further down. It is advisable to BUY share only when it starts moving upward.

22.....Avoid BUYing an IPO. It is advisable if you BUY a share after 1-2 years so that charts of 1-2 years are made and based on which you can forecast/predict correctly.

23.......Do not rely on self made gurus, instead develop your own capability of technically analysizing the charts. Invest based on your analysis so that in case if you have committed mistake , at least you can take corrective action for future trades.

24..... Always keep an eye on monetary policy of RBI, GDP growth, inflation, IIP numbers etc.

25.....If trading in futures & options, do analysis of Dow zones (U S market) on a daily basis to have the sense of likely gap up/ gap down of Indian market.

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