Day Trading Futures

[XRAY27]

The four trading fears

95% of the trading errors you are likely to make will stem from your attitudes about being

1.Wrong

2.Losing money

3.Missing out

4.Leaving money on the table

 

[XRAY27]

Great bud----jet jet jet day!!!!!!!!!!!

Thank you modi ji

 

[XRAY27]

BEST TRADER

The best traders in the world are the traders who eliminate the friction between long and short. They are able to switch directions because they are not held down by the baggage of cognitive dissonance. They know what they are doing before it happens and take responsibility for those action. In many markets this skill is not as important but this is not the case today.

As a trader you must always be in constant argument with yourself about direction without conflict. You should be able to comfortably argue both sides and let price decide who is right for the time frame you are looking at. When you can no longer make both arguments, it best to take additional action to find another view point or start working into a position with great risk management.

If you have deep pockets and time on your side you can ignore this post because on a long enough time line everyone is right.

Source:Internet

 

[XRAY27]

10 New Lessons For Traders

10) Those who are willing can be taught almost anything.
9) Great people want to help others achieve great success.
8) Success in business requires tremendous concentration. Outside distractions must be avoided.
7) Sometimes it is best to leave politics to politicians.
6) Everyone fails at some point in his life. The true winners rebuild after their failures.
5) To put on a trade when everything is going against you requires character and commitment.
4) Rules are rules. Stick to them.
3) Adapt with the times. Be willing to be malleable.
2) Always leave yourself outs. Never commit everything to one position or to one person.
And the number one lesson:
1) The market is bigger, stronger and badder than you. Always respect it for the beast it is.

 

[XRAY27]

Help, love & care are priceless emotions

http://www.nidokidos.org/threads/212943

 

[manishchan]

Studying the behavior of price movements; the manner in which prices have moved from one level to another could be useful to identify probable next moves.

(1) How price leave previous level : The kind of move through which price leaves previous level tells how strong the move it is. There could be three different moves - First, price gradually moves up within few hours or days. Second, price moves strongly with red or green candles in it. Third, there could be a big gap up or down.

(2) Time spend to reach at that price : The lesser the time spend at a level, the more aggressive move it represents. It means, when a price is not sustaining at particular level and keep moving to make newer highs or newer lows, momentum is strong.

(3) How far is price from previous level : The further the price is away from previous level, lesser is probability of it to come back to that level soon. It clearly signals that stock is in trending phase.

Identifying these actions on chart and interpreting them according to current trend or pattern could be useful to identify next probable move.

Source : Sudarshan Sukhani

 

[XRAY27]

Unsuccessful Trading Behaviors

1. Refusing to define a loss.

2. Not liquidating a losing trade, even after you have acknowledged the trade’s potential is greatly diminished.

3.Getting locked into a specific opinion or belief about market direction. I.E. “I’m right, the market is wrong.”

4.Focusing on price and the money

5.Revenge-trading to get back at the market from what it took from you.

6.Not reversing your position even when you clearly sense a change in market direction

7.Not following the rules of the trading system.

8.Planning for a move or feeling one building, then not trading it.

9.Not acting on your instincts or intuition

10.Establishing a consistent patter of trading success over a period of time, and then giving your winning back to the market in one or two trades.

Source:Internet

 

[manishchan]

Unsuccessful Trading Behaviors

1. Refusing to define a loss.

2. Not liquidating a losing trade, even after you have acknowledged the trade’s potential is greatly diminished.

3.Getting locked into a specific opinion or belief about market direction. I.E. “I’m right, the market is wrong.”

4.Focusing on price and the money

5.Revenge-trading to get back at the market from what it took from you.

6.Not reversing your position even when you clearly sense a change in market direction

7.Not following the rules of the trading system.

8.Planning for a move or feeling one building, then not trading it.

9.Not acting on your instincts or intuition

10.Establishing a consistent patter of trading success over a period of time, and then giving your winning back to the market in one or two trades.

Source:Internet

Let me add one more which sucks beginners into a vicious cycle, "Always Hunting for Holy Grail"

 

[XRAY27]

Nifty future close of above 7800 will offer good move...

 

[manishchan]

A Glamorous World

Most of the traders attracted to trading world due to glamour which they saw in the market, that is no physical work, home sitting work, get a quick buck, easy and anyone can start, higher leverage etc. But this is just a phase of glamour in the market and not the complete reality. The other side of market is more complicated, demand hard work, difficult to accept and the one which makes money not the glamour.

It is possible that around 95% of fresh entrants exit the business with losses, when they fade out the shadow of glamour. What could be the reason behind this?

Well, there is no simple or single answer, but one can assume that, the more you stay away from this glamour, more you will be closer to success. "Why so many people attracted to trading? Because it seems like an easy way to make a lot of money. But the fact is that the people who are successful in trading are tremendously hard workers". These lines are picked from a book MARKET WIZARDS by JACK D. SCHWAGER.

The author of the book interviewed a lot of successful traders and then write down in his book. The message is clear, if you are thinking you will be getting rich quicker and make money easily through any method, then you are going on a dead end road. Because there is no such method exist in the trading world.

Source : Sudarshan Sukhani