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10 Signs You Might still be a New Trader

  
  Education
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  1. New Traders do not understand what all the fuss is about risk management and trader psychology they do not need all that they are special.

  2. New Traders believe there is some magic trading method that always wins, they search for the Holy Grail of trading.
  3. New Traders do not understand that the very best traders have strings of losses , losing months, and sometimes even losing years. They think rich traders always win.
  4. New Traders want to know what is going up or down, they focus on tips instead of the mechanics of trading.
  5. New Traders hand out advice freely to others, good traders realize that decisions are based on individual methods and do not give out tips.
  6. New Traders are looking for that one big winning trade to go all in on, good traders are trading good systems that they risk 1% per trade on.
  7. New Traders confuse bull markets for skill.
  8. New Traders confuse luck for skill.
  9. New Traders want advice, good traders want robust systems.
  10. New Traders run from method to method and from mentor to mentor after every losing streak, good traders know exactly who they are and what methods they trade.

 

Trading Strategy for Nifty Future -11th March’10

  
Analysis, Education
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There are typically three stages an investor goes through before they become successful. Building discipline starts with an understanding of these points:

  1. Easy Money: The first stage involves thinking there is easy money to be made. This is the thinking of a newbie. Often, after a big stock tip gone wrong or a couple great broker recommendations that lose serious money, you enter the second stage.
  2. I need a plan: The second stage begins when an investor or trader decides a plan is needed to win. The problems begin when the search for a plan becomes a search for the Holy Grail. And we all know there is no Holy Grail. What is needed is more than just a “system”. What is needed is you following the system. This leads to stage three.
  3. I’m responsible for my success: Stage three comes when the investor or trader realizes that success comes from inside the person, not outside. To achieve true success you must understand the market is not responsible, you are. There is no one to blame or compliment but yourself when it comes to trading. So find a solid plan and follow it.

5144 & 5184 are Hurdles.

From last two days if u had seen (Iam writing not in Braille )3&7 DEMA will act as support levels.

*From last two days kissing 3 DEMA and taking sharp U-turn.

Now crucial support at 5106 ,5090 level.If breaks 5090 with volumes will take to 5058-5036 level.

*Hurdle at 5148-5161.Crossover will take to 5190-5200 in Intraday trade.

*Higher it is moving…More Dangerous sign.

-Trade with eye open

-Always read twice the levels mentioned.

I will update more During trading hrs to our SUBSCIBERS.

Updated at 7:57/11th March/Baroda

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