Greetings everyone!
Here we go today with another blog something related to the trading. As I am learning and growing some new skills to unlock the next source of income, so I am trying to get into the trading of stocks where I am trade and make more money out of it.
So now you might be thinking that trading is as easy like you just need to sit against the charts and you will get money by clicking some buttons on your phone. So it's just a delusion in your mind. It's one of the most hardest thing because here it takes lot of energy, and it's not that easy that you are just doing the INTRADAY.
In trading you need to clear your concepts need to control your mind, and emotions need to make journal of your own feelings. And make your own psychologically clear as much as you can, so you won't panic in the danger situation. So there are some rules which I am following while I am trading and they are very simple:-
I will be taking trade in 10:00 am to 2:00 pm after or before I will not see the charts.
I will never taking any trade which are against my strategy.
Never have greed in the market in search of more money.
I will not take more then 1 trade a day.
Need to journal my thought while I am in the trade, and trap the feelings, overcome the fear.
Always respect your STOP LOSS.
So these are the some basics rules which I am following while I am trading the stocks in INTRADAY.
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Well in trading the game over here in TECHNICAL ANALYSIS is only about 10% and about 80% of the game there is a RISK MANAGEMENT and only 10% is about your psychology. As you can learn the strategy and make your trade. But the only you need to learn over here is about handling your own capital, it sounds very easy over here, but it's much harder then we think until we experience the situation like that.
So I can also give you the example about the RISK MANAGEMENT.
Just think you are trading a stock with 10000$ and you have not put any stop loss over there and you might get loss of 50% which is 5000$. So as per the capital you only have 5000$ and now you have to make money out of it which you lose and that percentage is double of that. So if you want to recover your loss you just need 100% on your capital which is almost next to impossible. So here the RISK MANAGEMENT works and this is why it is more important and hard to manage the money in hand.
So make your you won't get of your rules and do it in a discipline manner, the other things which will impact on your mind is about just do exercise and meditation every single day, which will impact a lot on your emotions while trading.
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