@goku Thanks…from now i will try to follow rules, not emotions . Will you want to share any strategy for trading nifty index so that i get some knowledge?
trading is not about secrets,
It is more than that.
Try to follow rules without emotions for 3 month.You will know why so much less traders are successful.
i am working on 2 with real money and 6 on paper trading.
i will share once i am confident abot positive expectancy. i will share my results on post.
mail me- [email protected]
I have been doing paper trading since last 3 months and have got settled down with emotions. It also helps to stick to your laid down rules and get to know what works for you best or in other words with which strategy you are making money. Paper trading is nothing but buying and selling on a notebook while following the market in real time.
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I think he meant 2 students with real capital trading and 6 students with paper trading
PRICE- NOT IN TRADER’S CONTROL
TREND- NOT IN TRADER’S CONTROL
MOMENTUM- NOT IN TRADER’S CONTROL
AMOUNT OF PROFIT- NOT IN TRADER’S CONTROL
AMOUNT OF LOSS-COMPLETELY IN TRADER’S CONTROL
However, the trader tries to control the uncontrollable & doesn’t control the controllable.
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No of trading strategy
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One more
EMOTION - IN OUR CONTROL.
Lot size is the key to success . I take a positional trade whose value is only four times my profit .
Let me explain .
Only on making rs 100 as net profit do I buy 400 rs worth of shares . Then again trade with 400 make a profit and keep adding shares to my trades . In this way even if the stock falls by 24 % my capital is safe .
TRADING MYTHS
Until recently, I frequently experienced trading nightmares. Then it all ended. Why?
First, I developed a MACD/CCI based-system; backtested it. And after finding that it has positive expectancy; I then paper-traded it. Initially, during paper trading, I did not strictly stick to my system and this always triggered fear (but no paralyzing nightmares of the past. Noticiing this improvement, I then decided TO ALWAYS STICK TO MY PLAN. And since then it has been fearless trading – losing some, winning some; but in the end finishing the month on a positive note. No fears for me now.
BTW I owe my trading nirvana to a post in TradingQ&A, where the author, who comapred his IQ to that of a dung-beetle; set me on the path to fearless trading.
Regards,
Rakesh
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Fear of failing only impedes you when you are not confident about yourself. This is not only true in case of trading but also in every other aspect of life. For example, if you take an exam without proper preparation you will fear to fail and hence the chance of failure increases. Same goes for trading as well. You need to:
1)Plan the trade and then trade the plan.
2)Trust your trading strategy. Unless and until you are confident that the strategy you follow is profitable and less risky it will keep you on the sidelines.
3) Trade with the capital that won’t affect you financially. That will help you to detach from the emotion of failing and reduce anxiety.
4) Acceptance- You need to accept the fact that there is an underlying risk of loss in every trade.So, accept it and try to minimise your loss with the help of proper risk management technique.
Although these things are easier said than done i believe these aforementioned steps will help you to face your fear and help you to make a better trader.
Good luck.
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i owe my trading nirvana to Mr. Akshay Iyer. here is the link to his amazing post –
Can you share an overview of your trading strategy?.
i could not mention this in my main post as I had just then formatted my laptop and the flie containing this information was on a backup drive, which was not accessible at that time.
Mr. Iyer, never before in my life have I loved trading as much as I do now-- thanks to you.
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Dear Mr rks
Could you share your trading strategies
We beginners could gain some knowledge
Regards
I’ve gone through this very much. The reasons in my case were:
- doing intraday with too much capital (25 lakhs * margin)
- watching the charts every second, etc.
As somebody mentioned in this thread, you need to find out what is causing tension and then you’ve to find a remedy for that.
General tip: Trade less and with less amount, Apply SL and that avoids most of the tension.
Boss, Have 2 bottles Vodka, Fear will vanish, Frankly share market will be afraid of you
hahahahaha, Then who will take care of closing orders and Putting Stop-loss. 
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Trust me, Vodka will take care of every thing
hahahahaha 
Sorry, I dont Drink An alcoholic drink, or alcoholic beverage. 
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What is the biggest fear while trading? Losing money, right? So if you reduce your exposure, you will also reduce your fear. You can bring it down to an extent where you are comfortable. The other half, of being able to reduce your fear of losing money, is having a backup, like second source of income.
Third and final step is practice. Trade trade and trade. This will make you familiar with the market in a way, nothing else will. Start with very small and scale up. Just like falling from your first bicycle ride. Where you fall for a couple of times and then slowly start to ride like a pro.
KNOWLEDGE is the light which drives away darkness of FEAR.
Trade without fear, trade as much as you can.
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