The most important factor in successful trading

Discussion in 'Risk & Money Management' started by TradingPicks, Sep 20, 2004.

  1. MD523524

    MD523524 New Member

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    Hi everyone !
    I am a typical day trader who liked to trade using POWER INDIABULLS's software (generally known as PIB). But I must say, this software has a lag of about 4 seconds. Day traders who like to ride the wave of Indian stock market must take this into consideration. These days I am planning to open a trading account with INDIAINFOLINE. I hear they have a more seamless platform for day traders. Has anyone experienced their software ? If yes, please lemme know here or at xxxxxxxxxxxxx
     
    Last edited by a moderator: Jan 20, 2011
  2. emesgee

    emesgee New Member

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    Hi:clap: I think I have found the best web site related to stock trading. Here I find that there are many articles which will enhance our knowledge in technical analysis and making profitable trades.

    Thanks a lot traderji!
     
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  3. NOMINDTR

    NOMINDTR Well-Known Member

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    That's True
     
  4. manishkale24

    manishkale24 New Member

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    Zee's flagship channel Zee TV is placed strongly among the top three players in the Hindi GEC segment says Motilal Oswal report
     
  5. kevin_shah

    kevin_shah Active Member

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    Trading guides/rules :-

    1) Dont try to look for support in bear markets, as in bear market there is no support.
    2) In bear market you can only and I repeat once again “ONLY” have two stand :-\
    a) Short
    b) Cash

    3) Bear/bull markets dont end when everyone wants , i.e it ends when it has caused maximum pain to majority of people.
    4) The sure shot signs for trend reversal is acceptance of the trend by majority of people, in between the two ends, its just lottery game that is being played by people.

    The above are some of the guidelines/rules that I follow in trading, rest everything else is just noise.
     
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  6. pankajkumarrothod

    pankajkumarrothod New Member

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    hi,
    Personal responsibility is the most important factor in your trading success. The natural tendency is to find someone – anyone – to blame for their failures of most of the people. It's too painful for most people to just come out and admit they screwed up. Since money is such an emotionally charged topic, the "blame game" is especially common in trading. People blame their broker for bad advice, also blame the writer for a stock tip that doesn't pan out. Not only this they blame Wall Street for its improvise game. They blame the government, God, conspiracy theories, and anything else you can think of. They will point out everyone except the person in the mirror. The finger pointing mindset is the loser's mindset, whether you're talking about sports, work, relationships, or trading. Unfortunately, most people have it. People will not accept full responsibility for their actions... and it suffocates their progress. When you always accept responsibility for your actions, then you’ll set yourself up for a lifetime of progress and enhancement. When you check your errors and search out why you made them, you can take steps to correct them. Blaming someone else for your trading failures is like ignoring an awful sound from your car's engine. If you ignore this, you'll eventually find yourself in the middle of nowhere with a car that won't move. Let us assume the stock-picking method you're using is not working. When you accept this that it's your responsibility to decide what's best for your money and not the responsibility of a guy on television or a stock broker, you can start looking around for a method that works.
    You – and you alone – are responsible for the gains and losses in your trading account. You either accept responsibility for your results and learn how to win or you do not accept responsibility for your results and always lose. :) :)
     

  7. TRADERSM

    TRADERSM Member

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    very good article
     
  8. tradertrader

    tradertrader Active Member

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    Confidence on your decision and dare to trade.We are aware you coming risky business so no blah blah blah that we don't want to risk. We can fool others not ourselves. Because you even you have knowledge and talent but not have confidence and dare useless. It means you are wasting time.Confidence and dare come with proper mind set and practice.
     
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  9. travi

    travi Well-Known Member

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    Well said, Confidence is very important, especially when you have a method that works and then you have times when the mind set is unfocussed. Nothing seems to work.
    Just go back to the drawing board and stick to what works rather than cursing methods and trying something else out of frustration.
     
  10. NetFreak

    NetFreak Member

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    The most important factor to become successful in Forex Trading is Patience and Discipline to become successful in Forex Trading.
     
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