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!!!"