NiftyMagican : Make trading a winning habit Everyday!!!
Posted: Mon Oct 28, 2013 11:47 pmAdvice to small volume intraday traders(trading capital below 50k) and who are not able to make profits regularly and having loosing streak on monthly basis....
First thing you need to do is make trading a winning habit weather it is 100 rs profit per day or 10k profit per day,you shld make a winning habit which will put you in positive state of mind all the time.
To make winning habit you need to have control over you emotions and risk management in volatile markets which contributes 80% of the trading techniques.
To control your emotions and to make trading a winning habbit one needs to start with test trading,Test trading in the sense trading with very very less volumes say 4k to 5k volume on one call.In this method advantage is your emotions will be under check since max loss or gain can be +/- 100 Rs per call and you will trade fearlessly and also risk management will be very easy when you have surplus backup money which helps you to do jobing.
Most of the time we enter a particualr trade at right time but we exit at worst time ,Trading is not easy way of making money ,Make it as a winning habbit by trading less. Everyone will be having a regular job as main source of income.Never make your trading as main source of income which will put u under huge stress and when you trade under stress sure will loose money.
Your Friend
Yogesh