Please answer the below mentioned questionnaire and be true to yourself
Are you prepared for trading?
Ask yourself the following questions:
1. Do I treat my trading/investing like a business? Have I prepared for it the way I would for a business?
2. Do I have a business plan—a working document to guide my trading business?
3. Do I make mistakes regularly (a mistake means not following my rules)?
4. Am I following a regular procedure to prevent mistakes?
5. Do I have a tested system? (Are you having a trading system)
6. Do I know how that system will perform in different kinds of markets?
7. Do I know what kind of market we are in now and know what to expect from my system in such a market?
8. If I don’t, have I gotten out?
9. Do I have exit points preplanned for every position I currently have in the market?(As a part of Trading System)
10. Have I developed specific objectives for my trading?
11. Do I understand that I achieve my objectives through a position sizing ? Have I developed a specific position sizing algorithm to meet my objectives?
12. Do I understand the importance of the points above?
13. Do I regularly work on myself to make sure that I follow the points above?
Check all the responses that are true for you. If you haven’t circled at least 10 of the 13, you are not taking your trading seriously.
Your financial health is in danger.
You create your own results, and increase /decrease your trading capital.
sir,after a lot of control and deliberation i get disciplined and follow above rules it payees me i have to work more on point no7 with your mentor ship & guidance i am very glad and want to pay sincere thanks from my heart and request you to always mentor us.
Dear KP sir,
I just showed you the way and I would like to thank you for following the system which we went through with discipline.
Now you are reaping the benefits out of it and I feel very happy for the same.
I am always there to help you.
The problem areas are points #3 and #13 … since I did not clarify in my first posting.
I am happy with the small gains I make from the other points, but #3 gives me twice the losses as gains, but it is so hard to stick to the plan.
Sirji there are only 13 points, you mentioned 15.
I scored 11 out of 13. The challenge is watching the mailing groups and CNBC and once in a while getting led by them into temptation.
Thanks For pointing out the mistake and have been rectified.