Tuesday, August 3, 2010

Everything or nothing

Shimla was the summer capital of the Britishers during Raj days.

Among other things they constructed a couple of clubs for their evenings and leisure times.

One of these clubs is still the favourite place of the gentlemen and ladies.

Whenever I get time I go to the club.

Quite often I run into a core group of brilliant stock traders ....from 20 year old to 85 year young....

We have a great time discussing all kinds of experiences and crazy ideas.

One of the latest crazy ideas I want to share.

A young but highly talented and experienced trader Chhavi Raj shared this!

In his words

"I was always losing big and gaining small.

I fixed my losing big issue by painfully practicing stop-loss discipline.

But I still wasn't getting big profits despite getting into great trading positions quite early.

I figured out that the reason was my fear of losing the profit on the screen.

I tried hard but couldn't beat the chicken-out impulse in me

until one day when I saw a 007 movie in which Pierce Brosnan says

'Everything or Nothing'!

The line stuck in my head.....especially the way Bond said it!

I made it my moto from the next trade...

...and it did magic!

Whenever the indicators and my homework hints towards a mouth-watering trading opportunity I decide only one thing - the Target.

The target which my head says is 100% sure to be hit!

I never set ambitious targets. I just set honest and what-if-not-this target...

I tell myself - either i get the target or i quit at my entry price only!

Everytime the price does a threatening act, I just remind myself coolly

'Everything or Nothing'

13 out of last 21 times, I have got what I wanted!!!

2 times I got 'nothing'

6 times I chickened-out for peanuts!

Couldn't bear the pressure!!!"

2 comments:

rochak parekh said...

dear friends

i have decided to use comment section of my blog to suggest new trade reco's till the new post is generated.

many fresh trades suggested, please visit

https://www.blogger.com/comment.g?blogID=6435494717191226952&postID=5487094448313243383&isPopup=true

regards

P.S. - Dear Veer ji, thanks for ur continous ongoing support till now. Now onwards i have decided to limit myself either to a special WRITE up or a monthly report card to be intimated on ur blog. Thanks for publishing this.

rochak parekh said...

Dear veer

4 days, & more than a dzn posts till now in august month. Where have u been getting these much ideas from ?? have been in your touch since last 8-9 months. the moment i start thinking , u delivered ur best, u come up with something better than that. no wonder, ur fans are increasing in " din doguna, raat chouguna " fashion.

regards