Teach A Man To Fish And.........

It would be of a grt help for me too !

Regards

Yes it will help lot of us but why are you closing this thread Saint ?????
If you can add the revision at the begining of posts and make a declaration that you will not post any more in this thread and let it open for others to discus then it will be great i think hope you consider






Regards
Satya

lol.......you don't need all this,MB.....You no more in Grade 1

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

Thank you,gantanna

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

Very good decision Saint.It was the most comprehensive,most substantial most powerful,most practical,most objective and no-nonsense brilliant job in the whole domains of internet,not noly in Traderji.This thread should be the soul reason why an ordinary trader should come to join Traderji.You have done MOREEEEEE than enough to let people know a proven method of trading.With your lucid writing style and many interactive answers to the members' questions,u made it crystal clear.I support your decision to close this gem of a work and just enjoy people's blessings.This thread is COMPLETE and accomplished it's goal.Thanks Saint.

May GOD bless you Sir.
Let's clap for this wonderful creation,ladies and gentlemen.

Thank you Hari for your very kind words....most appreciated!

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

Few things before this thread comes to an end.....

This thread was and is dedicated to the newcomer beginner taking his first few steps in the Charts World.........it is not complete,it is not all that there is to know.There are lots of stuff still needed to learn and practice before you become a complete trader...........but it is a start.This thread is only the first step in a journey that is far from over.

I hope you,the beginner,continue the journey and become Masters at what you do.......Learn from this thread,and many similar ones that get you started out,progress from it,don't forget to doubt every word in this thread,.......Don't accept anything as gospel truth.Question everything and find your answers.............and finally when you have mastered these basic concepts,don't stay within the confines of Grade 1.......move ahead,move higher......that day will come,and I hope so,very soon.....and when that day comes,don't forget to expand yourself to the next level.

Wishing you all the very best!!

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

On your path to success in anything,you will come across numerous obstacles.........your trading plan or the lack of it,your strategy,your self inflicted hurdles stemming from the mind.........many things to deal with.

But a very irritating obstacle that you will face are the many well wishers around you who tell you how many different ways you CANNOT succeed........great feats are not attempted and overcome if you are going to look at factual statistics that it has not been done before and therefore cannot be done.

Dare to dream.......and then realise that dream.It can be done........remove the word Impossible from your trading dictionary......Aim for great heights,so high that it leaves you giddy,achieve it and soar even higher......It can be done!!

All the best!
Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

When you are a beginner,what you tend to do ,even after reading this entire thread and memmorising every word of it, is to not trust yourself and your method,your modus operandii.

You look at past years' data and apply your strategy that you are comfortable with,and it all just works fantastically.....you are thrilled,excited,you want a bite off the market......You come the next day with renewed vigour and enthusiasm ....you bought some stock at 105,stops at 98,and yep,all systems go.....and then to your horror and disbelief,the stock tanks almost immediately as if it knew that you were getting into it.98 goes by,you don't take it.......95,93,89....ouch,the pain is unbearable.....85....that's it,you take no more.You exit at 85,cursing the market,your brother-in-law,and the guy who gave you the call or tip.

And voila,the stock turns around at 83 and blasts off .......you now have learnt a valuable lesson........never take a loss,always rupee cost average(!!!),your mind says that if you were holding at 105 and added at 85,your average would have been 95 and sitting on profits.

Next time,you rupee cost avg.........you buy at 105,95,85,75,and get out at 70!!!Ouch,more pain than before........and voila,stock blasts off to 100 again.

Now you are sure that the entire world is at cohoots with each other to grab your money............your capital,now halved,you decide to do it the way traders trade.......You buy at 105,with stop loss at 98,and guess what,the stock returns to 102,but the pain is already too huge,your mind is in a state of paranoia,your wife is sitting on your head to quit this cursed profession,you run for cover at 102..........only to see the stock charge off to 150.

You now come to the grand realisation that the market is for gamblers,you will lose either way,everyone who is making something......they are all liars,out to grab other people's money........And with this grand realisation,you are able to sleep the nights.You are not a failure,it's all the fault of everyone else around you,nobody can make any money anyway........blah,blahblah.

LESSON 1:Learn to pin all the blame on to yourself.......not half the blame,not most of the blame,but all the blame.Accept responsibility for your stupidities.Following a set plan of attack,you can conquer the markets.......If you are not able to,something's amiss.Accept blame.Look for your mistakes.Rectify them.Be a success.But first step:Accept responsibility......

LESSON 2:First learn........then set up a Trading Plan.It's vital to have your Plan before you get into the Battle..........There must be set points of entry,exits,adds,position sizing,etc before mkts open........All written down.....When the mkt opens,you no more use your intelligence,your analysis........you just keep the fingers on the Trigger Button,and follow your Strategy.Once in a trade,you are doing nothing but managing Risks.

LESSON 3:There is no thinking,no emoting,no fear,no greed,no hope,no anticipation,no regrets during market hours..............and keeping that tranquil,serene mind,you seek to put in a perfect trade,one after another.

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."

Your job as a trader is to put in a perfect trade........money will come by itself when perfect trade after perfect trade is put up.

What is a Perfect Trade?

A trade where you adhered to your Entry Strategies,raised your Trail stops,Added as per your Strategy,And exitted from the Trade once your trail stops were triggerred,adhering to the Position Sizing in your Plan all the while..........That's a Perfect Trade!

A trade where you entered as per Plan,and was stopped out and you adhered to your Stops.....That's a Perfect Trade!

Making profits and a perfect Trade are 2 different things.........focus the mind on to putting in that Perfect Trade,again and again.

The money will follow.......but you have to reach a point where the mind ceases to stop counting the money in your head.Focus on the Trade when you are a newcomer......Focus on the Trade when you are a Pro Trader.

Saint

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"You cannot change the direction of the wind,but you CAN adjust your sail..."