Need a guru
- Thread starter ambarish123
- Start date
Hi,
You need to equip yourself with knowledge both fundamental and technical analysis without which you will be an Ameture trader.
Most Broking houses have dedicated team for each sector tracking the stocks using sophisticated trading softwares.
and even if you have an edge like them you still can't predict your success unless you have a discliplined approach towards trading.
You need to keep a track of the following
1. Game plan before entering the trading room.
2. Adequate Capital
3. Risk / Reward Ratio
4. Continously Monitoring your performance and correcting your mistakes.
Prefer to be and EOD Trader first doing swing and position trading and once you are able to pick the right stocks then turn to day trading.
It takes lot of time to learn all these things so you need to have patience. Read lot of books and keep testing your knowledge.
Regards,
Trady
You need to equip yourself with knowledge both fundamental and technical analysis without which you will be an Ameture trader.
Most Broking houses have dedicated team for each sector tracking the stocks using sophisticated trading softwares.
and even if you have an edge like them you still can't predict your success unless you have a discliplined approach towards trading.
You need to keep a track of the following
1. Game plan before entering the trading room.
2. Adequate Capital
3. Risk / Reward Ratio
4. Continously Monitoring your performance and correcting your mistakes.
Prefer to be and EOD Trader first doing swing and position trading and once you are able to pick the right stocks then turn to day trading.
It takes lot of time to learn all these things so you need to have patience. Read lot of books and keep testing your knowledge.
Regards,
Trady
Hi
You do not need a guru which is going to lead you and teach you. As you already lost money with your way of trading, analyze your feelings about that and get clear with your self about it.
After such negative experiments, many go through stages like: Fear, Rage, Frustration, Disappointment, Disorientation
During that time of healing your psychological wounds, you set very simple targets in what you want to improve in your way of trading.
Analyze now what went wrong there. In most cases it is Money Management, not understanding the derivative it was traded, Risk Reward Ratio and no clear exit rules combined with a well tested strategy.
Now take out peace of peace of the above written and go to the parts in the forum, where it is written about that subjects. Take your time to read through that stuff and ask specific questions you may have to those subjects.
In that way, you learn again step by step to stand on your own feeds and to make your own judgments, instead of becoming depended an a guru.
I am clear, that this is not every persons thinking. So test this way and if it fixes your personality, go for it.
Finally:
Many run out of money, before they even would come into a successful trading phase.
Many run out of time before they even come to a point, where they are able to make successful trading judgments built on there own knowledge.
And many run out of money and time to ever come to a stage, where they could make there first successful trades.
Tc
DanPickUp
You do not need a guru which is going to lead you and teach you. As you already lost money with your way of trading, analyze your feelings about that and get clear with your self about it.
After such negative experiments, many go through stages like: Fear, Rage, Frustration, Disappointment, Disorientation
During that time of healing your psychological wounds, you set very simple targets in what you want to improve in your way of trading.
Analyze now what went wrong there. In most cases it is Money Management, not understanding the derivative it was traded, Risk Reward Ratio and no clear exit rules combined with a well tested strategy.
Now take out peace of peace of the above written and go to the parts in the forum, where it is written about that subjects. Take your time to read through that stuff and ask specific questions you may have to those subjects.
In that way, you learn again step by step to stand on your own feeds and to make your own judgments, instead of becoming depended an a guru.
I am clear, that this is not every persons thinking. So test this way and if it fixes your personality, go for it.
Finally:
Many run out of money, before they even would come into a successful trading phase.
Many run out of time before they even come to a point, where they are able to make successful trading judgments built on there own knowledge.
And many run out of money and time to ever come to a stage, where they could make there first successful trades.
Tc
DanPickUp
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