Hi All ,
I cannot still afford to spend the whole day in trading and pursue such a wonderful money making hobby as I am a working professional and still need to work for someone to earn living.
I trade based on very few basic technical analysis which I have studied. I generally submit my trades at the close of day for tomorrow with following overall considerations and discipline
1 Look at Global markets and do not go hugely against the trend which is prevalent i.e. If US , EUROPE are down by more than 1 % to 2 % , there are high chances our markets may follow the trend etc.
2 Look for any major news feed for stock market in general / sectors / stock specific and try and avoid them for next day trading unless your risk appetite is huge.
3 Major focuses on risk reward ratio, Trade only when risk is minimal and reward must be maximum
One day I aspire to be a wholetime trader !!!!
Cheers
R
I cannot still afford to spend the whole day in trading and pursue such a wonderful money making hobby as I am a working professional and still need to work for someone to earn living.
I trade based on very few basic technical analysis which I have studied. I generally submit my trades at the close of day for tomorrow with following overall considerations and discipline
1 Look at Global markets and do not go hugely against the trend which is prevalent i.e. If US , EUROPE are down by more than 1 % to 2 % , there are high chances our markets may follow the trend etc.
2 Look for any major news feed for stock market in general / sectors / stock specific and try and avoid them for next day trading unless your risk appetite is huge.
3 Major focuses on risk reward ratio, Trade only when risk is minimal and reward must be maximum
One day I aspire to be a wholetime trader !!!!
Cheers
R