JK,
1. Focus on your thought process - This means focus on your methodology, your system. If your system is good, it will always chase the smart money. If you are able to do this, you will be able to make money. Don't think what they will do, just keep going with the flow.
2. What the market is telling your right now - This means look at the Nifty, Bank Nifty and ask yourself what do you see? Does the Nifty tell you it's going to correct? Don't think it might correct. Let it tell you in person. Once it does, reverse your positions. For eg. As of now if I ask Nifty to short it, I get an answer where Nifty tells me I am a fool. Hope you get my point. It's communication, its logic and its all about being in the present.
Tc
Thanks a ton in advance Raunakji.
The mind always resists to see what is happening in the markets.
The mind remains in anxiety of greed or fear thinking of the past or anticipating the future.
It always tries to find an opinion about the direction and tries to stick on to that.
Or in other words it wants some thing concrete.
It is not flexible enough to change with the change.
(How to develop this
.
For example Yesterday morning before market opening I was of the opinion that Tata steel is weak.
But the same morning it went almost 1.35% up.
From 602 it went to 609.
Came to 597 again went to 607 range.
Finally corrected down to 593.
But in the meanwhile the roller-coster turmoil undergone by the mind was tremendous.
Each time the script reacted against the opinion held by the mind the struggle was more.
To take positions opposite to the opinion of the mind but with the direction of the script is a very difficult challenge.
How the mind got its opinion ?
By analysis.Analysis is the key of the mind to keep itself alive
Because in the "present or now" mind is not alive.Hence it is an survival tactics played by the mind.
How to see the prices and trade with out keeping an opinion ?
Does this mean that don't do your homework ?
Don't do analysis ?
Because by doing analysis mind gets an opinion.
The opinion framed or the belief that the prices would go up or down is the key obstacle for trading.
Which again creates resistance.
So which means throw all your technical analysis/charts/fundamentals/News etc and just follow the price action or flow
At the end of the day I get very tired.
Please enlighten us how to make trading a pleasurable event with least stress possible.
Thanks a ton in advance.
Best Regards,
-JK
