i have always been of the opinion that a trader should not hesitate to share his views about trading opportunities and sides. in fact, this is v important. one must share his market views openly. i have written about this once or twice.
the benefit is huge...
once you have announced what u feel u have taken a public stance. this puts a hell lots of pressure on you to think twice thrice....do all the homework, stick to system.
people say paper trading is good practice. i agree. but i go one step ahead and recommend that an aspiring trader should share his trade opinion or trade. in paper trading you have no money to lose, thereby the pressure being v low except small ego hurt in hearts of heart. but when u announce it, although u don't have any money to lose, you have a reputation and ego at stake. that gives you as much practice as betting your money would have.
to be a champion athlete or trader or anything, we don't need to relieve pressure, we need to get used to it and perform because of it...
nothing propels you more than your injured ego...
paper traders who remain anonymous or unannounced don't gain much confidence from paper trading imho
the best person to announce your trade is to the one who doesn't want you to trade...eg wife, father, mother
nothing tests your system, resolve and readiness than a crisis. the strategy which survives the crisis is a good one.
pressure is god's blessing....provided we accept it
No comments:
Post a Comment