Great discussion Over the Nifty millionaire Tribe platform. It will help traders to manage their psychology, patience, Discipline in the market. It will help you to manage your risk in a proper way that you will never have sleepless nights.
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Your mind is everything! It is far more important than looks, wealth, or fame. It determines how you feel, think, what you do, and how you experience life.
Don’t take it for granted. Feed it with knowledge. Teach it patience, focus, discipline, virtue, perspective, and wisdom.
Mark Minervini ” Day traders and very short term guys love this type of high volatility market. I avoid these periods. This is what I call a “hard penny” environment. Why fight for pennies when you can simply wait for easy dollars? “
Interest rates are rising, which is bad for stocks.
But rates are rising because the economy is growing, which is good for stocks.
High growth could cause inflation, which is bad for stocks.
But inflation could boost earnings, which is good for stocks.
Repeat until crazy…
Picasso was one day in a market, and a woman saw him and said “Mr. Picasso, it’s great to see you, I’m a huge fan. He says “Nice to meet you”. She says “My Picasso she pulled out a piece of paper and a pencil,” She said “Mr. Picasso, can you do a little piece of art for me? Can you do a little drawing?”.
He said “Absolutely!” He did a beautiful drawing. And she looked at it and said “Oh! Mr. Picasso, Fantastic!”. She starts walking away, he goes “Ah my dear lady, that’ll be a million dollars”. She says “Mr. Picasso, a million dollars, it took you 30 seconds to do that.”
He said, “My dear lady, it took me 30 years [pause] to do that in 30 seconds”.
So Moral of the story: is every normal trader always focus on how a few traders become successful overnight they have held that particular stock from years. now they got the results. But actually, he has already given 10 years to get this success.
#Technical charts: looks good for the position with proper risk management.
*Professional investors/trader on niftymillionaire platform is Mitul shah. (Sebi Registered) Sebi Registration : INH000002707