As a trader, here’s what You Should DO

By | June 2, 2015 3:53 pm
8 Comments

I will follow a trading plan to guide my trading – therefore my job will be one of patience and discipline.

 

I will plan each trade carefully – I will not jump into trades by fear of missing out.
I will monitor the market’s current picture.


I will manage my trades to protect my capital and my profits.


I will protect my capital through good money management.


I will take responsibility for all my actions.


I will trade to trade well and for the love of trading, not to trade often and not for the money. The money will come as a result of trading well.


I will not be influenced by the opinions of others. I will reach my own decisions and follow them.


I will build the self-trust necessary to operate in an unlimited environment which has no rules.


I will be rigid in my rules and flexible in my expectations.


I will never think that taking money from the market is easy and I will never assume that I know enough.


I will treat trading as a probability game in which I don’t need to know what is going to happen next in order to make money. All I need to know is that the odds are in my favor before I enter a trade.


I believe that I deserve this money. I believe that I will have this money in my possession. My faith is so strong that I can now see this money before my eyes. I can touch it with my hands. It is now awaiting transfer into my account. I am awaiting a plan by which to accumulate this money, and I will follow that plan when it is received.

 

From “Think and Grow Rich!” by Napoleon Hill

8 thoughts on “As a trader, here’s what You Should DO”

  1. Rakesh

    Just to add to Rameshji’s observations, when the trend is not clear or your set up is not complete, yet temptation triggered by price action TAKES HOLD OF YOU remember this :

    “–But you can’t lose if you don’t play.
    –I always heard it that you can’t win
    if you don’t play.

    –The game is rigged.
    But you cannot lose if you do not play.”
    —-The Wire S01E02

    Best Wishes to all.

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  2. nagarajan1660

    Sir

    Simply superb ….Thanks a lot for the Juice..

    This must be our daily prayers thrice a day – TILL WE GET IT IMBIBED IN OUR BLOOD !!!!

    Regards

    SN

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  3. gaurav raheja

    Excellent very well put up …. the real secret to success in trading …!! research and analyze (technical analysis) , plan (entry and exit) , discipline (SL and booking profit) , believe (confidence) , manage money (risk management) and your emotions (trading psychology) = a good trader !!

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  4. Sandeep Razdan

    Hiren ,Print out key saath Sir ki photo bhi laga lena ,will help you more in profiting ;=)

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  5. vikaskvikas

    like always……mind u folks its not trivial……its gem kinda…….another great article from you sir.thanks a ton.:)

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  6. Hiren

    Copy pasted to my Docs. Will take a print out tomorrow and keep it right near my computer screen.

    Hiren

    Reply ↓

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