In Continuation with Part -I 6. “Be like Machine” As human beings emotions pay a key role in our existence, for a trader emotions can be a source of great pain. Trading psychology and the management of your emotions in a trade play a key role in overall success. Fear and greed can cut your… Read More »
1. 10,000 hours In his recent book Outliers: The Story of Success, Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a… Read More »
On the first glance, trading doesn’t seem to be that hard: you can either buy or sell, that’s it. At the same time, the potential profits a trader can make are limitless, especially when leverage is added to the equation. If you combine these two factors, they make the ideal couple for smart marketers and… Read More »
Over the years, I have seen several people (including myself) lose fortunes while trading and I’ve found that invariably, it would be for the same reasons. Such reasons appear mostly psychological and occur often in the trading scene. It is a known fact 80% of traders lose money and 20% makes profits on the expense… Read More »
Failure is part and parcel of trading but till a certain limit. At first if you don’t succeed, try, try again. And when you fail as a trader repeatedly fail and bust your trading account, is it’s wise to continue trading ? Long ago psychologists mapped out something called the inverted U theory of stress and… Read More »
Emotions play perhaps the biggest role in determining whether a trader ultimately succeeds or fails. Developing a working system is an ability that most traders ultimately develop. Some people even develop or find excellent trading systems that only need to be followed exactly as the system is intended to be followed, and the trader will make… Read More »
Big Bull Badshah of Dalal Street Rakesh Jhunjhunwala needs no introduction he is known as stock guru and warren buffet of India. By profession Rakesh Jhunjhunwala is a qualified Chartered accountant. He started his investment in stock market when BSE Sensex was at 150 in 1985. He started his investment with 5000 Rs/- and now… Read More »
Stress kills, and trading is among the most stressful of any profession. Stress-related illness accounts for between 75-90%. Take any disease known to man, and you will find:It’s caused by stress It’s made worse by stress If you get it, you will have stress In this faster and faster forward world where traders are bombarded… Read More »
The professional trader knows how to process multiple inputs, yet remains calm and decisive. In this age of information and technology there is zillions of information going round it’s easy to experience information overload. If you try to process and digest more information than you can handle, you’ll experience frustration and anxiety. If you aren’t… Read More »
Being a Know-it-all: Wanting to be right about everything more than wanting to make money is very unprofitable. It is difficult for many professionals from other fields to take a beginners mind in this new endeavor of trading. Not having patience: Trading is a long process of study, testing, mentoring, and live trading you… Read More »