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: Never trade like the Pandavas.....self talk

: Never behave like the kauravas....self talk

: If operators were bearish, they would have liked to accumulate shorts/distribute stocks at higher levels.......they aren't doing that....self talk

: at times, even when traders win 50% trades, they still lose v heavily in monitory terms. reason? = they cut profit too early, and cut loss too late

: 50% chance of winning always there......traders still lose more than 50% (even 90% or more) because they vibrate a lot......self talk

: it might seem paradoxical when u hear stories that a trader who had heard the above lines tried to cut profit late ended up losing all of un-booked profit, and another trader, who didn't cut loss early despite knowing the above wisdom, ended up recovering all un-booked loss!!!

: what the above maxim/trading wisdom actually means is that

: also, booking profit is different from skimming profit.....or taking some profit (money) off the table......for example.....if cmp=8845, and u r holding 8500ce (with 350+ points), no harm in booking it and replacing it with 8700ce (worth 145+ approx).....this way u have smartly taken 200 points (and equivalent money, therefore) off the table so that u don't lose those 200 points in case the sky falls unforeseen......and all this, while having no effect on the earning capacity of ur position as u r in-the-money.....(this is just an example)

: 1) we find out the trend, 2) take the trade, 3)and let the profit or loss run TILL STOP LOSS decided by some logic, and not decided by fear or greed....if the method says hang book the profit, then for heavens sake....book.....same is true for the reverse scenario......