Simple Day Trading Techniques
Success in trading does not only mean making money but accomplishment of something that is important to you. Its identifying the behaviors that create success or failure in your trading endeavor.
Do The Following If You Want To Become A Successful Trader:
- Learn to treat trading as your prime business
- Learn to follow the basic principles of your personal life while trading
- Learn to use Tick Chart, 1 Min. Chart, 5 Min. Chart and Volume Analysis
- Learn the nuances of basic Chart Indicators like, RSI, MACD, EMAs
- Learn to talk to and within yourself about your trading methods
- Understand the importance of Break Even Calculation
- Have Determination, Conviction, Confidence, Consistency, Inclination, Interest and Involvement
- Plan your expected profit before start working on losses
- Once you have achieved your day’s target, whether it is 10 or 50 or 100 pips, in one trade or multiple trades, close the terminal
- Learn to prove only to yourself your worthiness and power, not to others
- Learn the meaning of the most beautiful word in English: “RESPONSIBILITY”
- Learn to accept your fate is decided by you not by others
- Spend time to read books written on some of the renowned traders to learn from their experiences
- Keep your trading area environment free of mosquitoes/flies
Practice If You Are Determined Not To Become A Successful Trader:
- Have an attitude of investing today and expecting profit yesterday
- Do not learn anything about stocks/forex trading but expect huge profit
- Begin trading as a career to make fast buck
- Take overnight positions and spend wonderful night with big dreams
- Work fervantly on tips and illiquid stocks
- Trade over the limit available in your account because your broker allows you above normal leverage
- Work very hard to cover up your losses by going double longs and double shorts
- Buy or Sell based on FIIs buy, sell, downgrades and upgrades of stocks, countries, economies.
- Watch Bloomberg, CNBC, NDTV TV and other such tools prone to attract you
- Blame after the market crashed, President, Prime Minister, Finance Minister, Fed, SEBI, Politicians, Int’l Markets, Media, Economy, Corporate results, your friends, family, star, for your failures.
- Show your so called mood swings on trading and take hasty decisions
- Always go against the market trend
- Do not book profit when the market is giving indications of imminent correction and expect more profit.
- Do hedging and trade multiple stocks, currencies and markets at the same time.
- Watch any and all the scrips, currency pairs that are moving up or down
I WANT Learn to use Tick Chart, 1 Min. Chart, 5 Min. Chart and Volume Analysis . How can I interpret them for trade. Spacially Want to know Analysis of Volume .
Thank You.
Hi Arun,
Thanks for your message.
Pl. visit http://stockcharts.com/, where you can learn everything about indicators and various charts.
Healthy And Wealthy Trading
Sureba, what you are talking about has been written and talked about a million times….your analogies about sharpning a sword or having sex…etc. sucks…remember…such examples don’t speak well of you a learned stock trader or for that matter even a good human being….your blog sucks
Hi Vinod,
Thanks for your time and your comment.
As I had replied earlier to other criticisms, the same I repeat here for you. You have every liberty to write your opinion, thats why I have kept my comments open to the public.
Whats written and talked about a million times, has not helped changing few hundred thousands of our people from understanding trading nor helping them making money in stock market. Its a real tragedy. In the last one year, the actual losers in our market are retail traders.
By your saying I am not a good human being nor a learned stock trader, is not going to alter my being or status or stop my efforts. It only exhibits how frustrated you are.
Besides, I am not here to earn good name from any of you, I am here to only share my experience and make good traders out of anyone who wishes to become one. I am already beginning to see tremendous change from the amount of not only direct responses, by way of comments but, overwhelming indirect repeat visitors to my blog, not only from India but all over the world, which is more than I had anticipated.
Everyone’s purview and perception differ; a woman or a flower I see as beautiful, fabulous may not be the same to you. “Beauty is in the eye of the beholder”
I appreciate your spending good amount of your time, between 18.17.48 and 18.26.33, reading my entire blog, that was indeed a great effort.
I wish and pray people with great spirit and will like you take initiative to help our traders from losing instead of just remaining stark critics on the sidelines.
I am really thankful for your comments for such comments help me establishing strong base.
Healthy And Wealthy Trading
REALLY GOOD WORK. KEEP IT UP.
Hi Raj,
Thanks for visiting my blog. Any suggestions and advises would be welcome to improve my blog.
Healthy And Wealthy Trading
Great information, I will be linking back to you and going to look around at your other posts.
Hi,
Thanks for visiting my blog. Your feedback will be valuable.
Healthy And Wealthy Trading
Thanks much for post. It is really good stuff.
I really like to read sureba67.wordpress.com!
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