25 Rules to beat the market !!!!!

25 Golden Rules:

1 Plan your trades. Trade your plan.
2 Keep records of your trading results.
3 Keep a positive attitude, no matter how much you lose.
4 Don't take the market home.
5 Forget your College degree and trust your instincts.
6 Successful traders buy into bad news and sell into good news.
7 Successful traders are not afraid to buy high and sell low.
8 Continually strive for patience, perseverance, determination, and rational action.
9 Limit your losses - use stops!
10 Never cancel a stop loss order after you have placed it!
11 Place the stop at the time you make your trade.
12 Never get into the market because you are anxious because of waiting.
13 Avoid getting in or out of the market too often.
14 The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
15 Always discipline yourself by following a pre-determined set of rules.
16 Remember that a bear market will give back in one month what a bull market has taken three months to build.
17 Don't ever allow a big winning trade to turn into a loser. Stop yourself out if the market moves against you 20% from your peak profit point.
18 Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
19 Split your profits right down the middle and never risk more than 50% of them again in the market.
20 The key to successful trading is knowing yourself and your stress point.
21 The difference between winners and losers isn't so much native ability as it is discipline exercised in avoiding mistakes.
22 Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
23 Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
24 Accept failure as a step towards victory.
25 Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker!

Last but definitely not the least ... keep the BIG E (Emotions) at bay!!!

Hi Ganesh,

Nice. I should take a print and paste it for daily reading and following.

Regards
Chachi

Dear ganesh,

Thanks for reminding.It is really needed.

Gopal.S

Great stuff as always,my friend...........

Saint

Thankkks...Saint...great to see you replying my posts, as always....

This market has taught me great lesson...I've lost wealth, but i've not lost the lesson..and maybe, this will prove the foundation of my future growth..I'm not like others who'll walk out of this market and curse it for the rest of life...
the biggest lesson definitely which i've not added above is "never ever trust your broker in stocks".....you win, you loose..he'll make money either way...

I've collected some good material on day trading...i'm amending and making it according to my experiences..will post it here soon.....maybe that helps the newbie's ( I cannot dare to teach you anything).......

I'm totally agains day trading in a stable market(or maybe in any market)...but what i've done, proved beneficial to me......the real profits is what you take to your banks...coz in day trading you make money and loose 4 times of it soon...hope you got it..

ganeshhity

Dear Ganesh,

As already informed in an earlier thread, I am anxiously waiting your posting in this regard and I am spending sleepless nights. Till today I did not have any "gud night" I hope you are going to post them sooner than later.
Thanks a lot in advance.

'Thanks' is just a small word for the amount/type of knowledge you are planning to share with us...! Thanks anyway...

This itself is actually the invaluable first lesson...

Hi Ganesh,

.......and that verily,my friend,will be what makes you a success.Great attitude,never give up.Always remember that if there is even one person who makes his wealth and income from the markets,it means that it can be done.And in this case,it is not just one person,but many ,many individuals.If it can be done by one or many,it can be done by anyone.......and therefore surely by you.

There are some who would not be willing to do whatever it takes and who believe that this is not their calling,no problem.To every person,his way......It is the cursing part that I do not understand.

Remember that the market just IS......It goes up,it goes sideways,it goes down,it does it all over again.It is the individual that decides on the point of entry,the point of exit,the point of profits,how many shares he/she wants to get into,how many positions,etc..........When the individual loses,it is the fault of the individual,never the market.One cannot take the credit as his/her own,and the failures as all the market's fault.

Lesson no 1 in trading or maybe in anything in Life..........To accept responsibility of the defeat!!Only when one accepts that many are doing great off the mkts,and therefore can be replicated,and still I have had this string of losses,there must be something I am not doing right,is it my strategies,maybe my position sizing,maybe the capital that I am playing with is insufficient,maybe that I am not fully focussed,etc,etc.........change and improvement of whatever nature can never be brought about if one blames everyone else and everything else,but himself.


Great attitude,my friend..........there are lots of "losers" out there more intent on blaming any external factor so long they can sleep well at nights,.....you are not one of them.Accepting the responsibility of a defeat takes lots of courage.Maybe some pain as well.But better to know the bitter truth than a beautifully sugar coated lie..............

Persist,my friend,never give up.......wishing you all the success in Trading the markets and in anything in Life.



All the best!
Saint

ok friend..do not worry, i'll start it from today itself.....
hope people absorb it fully..

all the best

ganeshhity