Archives of “January 4, 2019” day

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15 Trading Rules For Day Traders

  
  Education
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Trading rule No 1. Never chase. Forget about the Rupee loss for a moment as the real damage comes from the distraction it creates.

Trading rule No 2. Wait for the break. Most traders buy inside the range, get impatient and as a result they sell on first sign of strength which ends up being the breakout.

Trading rule No 3. Don’t ride the ticks and Rupee profits. It creates emotional turmoil and is draining. Prevention is best cure. Takes the fun out of the game.

Trading rule No 4. Price action trumps everything. Management lie or mislead but price action (money flow) never lies.

Trading rule No 5. Sell the news or a least sell partials. Markets discount everything and over the long run you will be better off.

Trading rule No 6. Always stay in control. Do NOT put yourself in news related coin toss trades, where the risk cannot be managed.

Trading rule No 7. Mind your own business, avoid conflict. If you take offence because someone has disagreed with your trade, then you are such a precious little petal.

Trading rule No 8. Do NOT set targets as all this creates is a premature EXIT. Run a trailer and let that take you out.

Trading rule No 9. Minimise whipsaw at all costs. It’s a trader killer. The root cause of trading failure more often than not, starts with whipsaw.

Trading rule No 10. Do NOT buy stretched breakouts. More often than not they recoil back into the range to flush traders out.

Trading rule No 11. Start will longterm charts and look to catch major breaks/moves. These tend to follow through and it makes it easier to run with winners.

Trading rule No 12.  Turn trading rules into habit. There is no point in having trading rules if you dont apply them!

Trading rule No 13. And the most important; only tell your wife about your losers. 🙂

Trading rule No 14. Hit those stops, no questions asked. Hitting your stop and watching a stock rally hurts but not htting your stop and watching the stock fall hurts a hell of alot more.

Trading rule No 15. Avoid Blue Channels during trading hrs.Never Trade on TV Flashes ,Don’t trade on Result day -Untill u are having sure Result with u.Don’t trade on  Data flashes about Options -Everything is leaked and known by few Top people 

What did the ancient Hindus ever do for us?

  
Analysis, Education
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Narendra Modi, Indian prime minister, has relaunched his country’s controversial claims to some of the world’s greatest scientific achievements with his suggestion that ancient India was adept at genetics and plastic surgery, including the grafting of the elephant’s head onto the god Ganesh.

His remarks – ironically made at the opening of a high-tech hospital in Mumbai – have revived a political debate about the growing influence of the right-wing Rashtriya Swayamsevak Sangh (the Organisation of National Volunteers) over the governing Hindu nationalist Bharatiya Janata party.

Hindu fundamentalists are delighted by Mr Modi’s words, left-wingers are appalled or mocking and many foreigners are simply bemused that India’s real cultural, scientific and medical achievements are being overshadowed by simplistic references to the mythological past. (more…)

Trading Is War

  
  Education
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  • Are you easy prey? Or, do I have to fight you?
  • Are you trading without a plan? You have given me easy access.
  • Are you pyramiding your losses? You’re now making the payments on my beach house.
  • Are you distracted while you’re trading? Just go ahead and mail me your checkbook.

This business is war with every trade. Are you asleep at the wheel or are you going to fight? I really like taking your money. The choice is yours.

The truth is, I don’t know you from Adam. I’m probably not going to be on the other side of your trade. But, we ARE in battle with every trade. We DO have to prepare to fight or we’re an easy kill. We have to have a PLAN for using our WEAPONS on the field or we’re dead.

This blog entry is an intro to a series on system development. We’re going to walk through the steps to creating a realistic, functional plan for trading the markets. Then, we’re going to look at our weapons and how to use them most effectively when the edge is in our favor.

I will fight and win, will you?

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