- be aware whether u r in a rally or range. trading decisions are totally different for both conditions.
- pro-rally indications are juicy, anti-rally are bitter
- at the start and towards the end of a rally, there are rangebound movements. these are foggy and tense times and need to be avoided.
- fill it, shut it, forget it. once you know the direction (from experience, trained gut and indications) just sit tight and don't fiddle. don't look at scary price gyrations. ultimately, market will do what your trained mind has figured.
- trade in index. it is surprise-proof.
- if u r trading in index, and if u r well-trained, and if u have sufficient backup funds, if u have done ur homework well, u don't need a stop loss or option insurance.
- go for option insurance only when they are cheaper.
- shut up those b#@$%^$s!!!. they know nothing.....chirping langoors........they have explanation for everything. stick to ur own head.
- 1-2-3 positional trades per month are enough. these will give you enough money to be super happy. more trades only bleed ur account.
- disasters don't happen in indexes without notice. even circuits (only 3 circuits in the history) don't kill if u r not stupidly leveraged. also, pro-circuits are heavenly (though to be attempted only by well-experienced). never worry disasters except in stocks (recent examples, gtl family).
- "courage is fear whose prayer has been said" : have guts to take a studied position. have the heart to see the blood. if ur homework is right, blood turns into ketchup sooner or later.
- core trading technique is god. if u have the technique u can bat on any pitch with confidence (like gavaskar, laxman)
No comments:
Post a Comment