No offence with what i said..Traderzone was right in that trading is about discipline & patience, but i wanted to know what he really understands with these terms.
I will tell u what i understand with these terms by giving an example of my fav trader rakesh jhunjhunwala, he bought sesa goa futures in 1986-87 @ 60 /-.
The markets remained rangebound for 3 years ..yes 3 years ,and he hold on rolling over on every expiry, it was only in 1990 after the budget delivered by the finance minister, Madhu Dandvante,that markets started soaring higher
and after a few more years he finally sold off for 2000 +.
This is patience, and at the end if the markets rewards him handsomely we have to give him a standing ovation.
I have seen many here use the words like greed ,fear, discipline ,patience without really understanding what these terms are.
Thats i reason i asked what he really meant which those terms.No offence again.
I will tell u what i understand with these terms by giving an example of my fav trader rakesh jhunjhunwala, he bought sesa goa futures in 1986-87 @ 60 /-.
The markets remained rangebound for 3 years ..yes 3 years ,and he hold on rolling over on every expiry, it was only in 1990 after the budget delivered by the finance minister, Madhu Dandvante,that markets started soaring higher
and after a few more years he finally sold off for 2000 +.
This is patience, and at the end if the markets rewards him handsomely we have to give him a standing ovation.
I have seen many here use the words like greed ,fear, discipline ,patience without really understanding what these terms are.
Thats i reason i asked what he really meant which those terms.No offence again.
what i meant by discipline and patience is waiting for the right setup to come along. 95 % of trader fail not because of the strategy/method, but fail to wait for right conditions and timing. Most people simply don't have the patience and take a trade based on emotions and gamble their money.
I hope now you understand what discipline and patience mean in trading. It's very easy to say this, but very hard to do.
BTW, how in the world do you trade fish? what is the scrip for it?