WEEKEND GYAN
Forwarded
*Very Good Learnings from Today's Market...* 📚
*Discipline is a BIG word in Stock Market.*
It includes many things...
But Few Good Points are mentioned below.:
*1. Always wait for the Right Opportunity for Buy and Sell Stocks.*
*2. Smartly Use / Don't Use Margin Funding Limit or Leverage Money for buying stocks. (Buy with your own Money and Capacity)*
*3. Always know your Risk First, Calculate Loss & then Enter for Trade. Must Remember that Capital Protection is First Priority in Stock Mkt.*
(Plan for the Worst & Expect for Best)
*4. Always have a SL and once SL hit, Just Exit. -- Mainly For FNO Trades. Don't get Emotional. (There will be lots of chances comes in Mkt & You can Re-enter.)*
*5. Once position is in Profit, Always Trail It. No matter how Strong the Co and it's Chart is.*
*6. Never go against the trend. If a share is 7-8-9% up, People start thinking that... How more it will go & SHORT It.!! So, never go against the trend and timely book profit. (Don't be Greedy)*
*7. Always have some Own Rules for Trading and Follow them strictly.*
*8. If have daily target for Profit or Loss in terms of % of Capital and not absolute amount. Be it 1% Profit or Loss of Capital.*
(Points for Daily Trader)
*9. Once daily target is achieved or you get even more profit, Close the screen and don't look at that stock atleast for that Day.*
(Points for Daily Trader)
*10. Even if you lost 1% of capital, close the screen. Do not try to recover, Even if you can. Reason behind this is you are breaking your own rules, because sometimes you can recover but then you will make it a habit of recovering every time and one time will come when your 1% loss will increase to 3-5-7% or more and then revenge trading will lead to more lose. So, follow strict rules. If loss happens then accept it and close the screen.*
(Points for Daily Trader)
*11. Follow only Few selected People & Advisors..* *Don't follow multiple things, it will spoil your Trades.*
*12. Do not Work with any pre-occupied Mind. Pre-occupied mind is the Worst Enemy of a trader.*
*13. Do not Buy in Temptation at Wrong Price.*
*14. Make a Rule to withdraw your Profits regularly.*
*15. Never Ever Do Revenge Trading.*
*16. If you get Jackpot sometimes, withdraw Money and Don't Trade in that Stocks for few days. More money you get will creates problem, Bcoz Over confidence always kills us.*
(For Daily Trader)
*17. Money Management is very important. Do not Put all the Money in to one Trade/Stock.*
There are lots of things.. just mentioned few here.
* I know that... All these are easier to Write but very Tough to Implement sometimes for Me also..
But, One should always Try to Follow it most of the time