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# Knowledge : Now let us see the 15 things which the Successful people never do.

1. They never gossip about other peopleGossip is an exercise of the tongue. They don’t have time for such high school drama. They are focused on their work and on acing whatever they are doing. Successful people don’t gossip because they believe in spending their time and energies in much more productive work.

2. They never make excuses“I got late because of this”, “I won’t be able to submit the report because of this”, “I won’t be able to…” – are words you won’t hear from successful people. Because they don’t ever make excuses. If they can’t do something, they generally don’t take it up.Successful people don’t let it reach a point where they will need to make excuses.They plan their hours in such a smart way that they are never found chasing their agendas.

3. They never say NoThey have this fearlessness written large on their faces. Alibis are not in sync with their personalities. They take charge and see to it that things get done. They don’t say a downright no to doing things. Successful people are good at a lot of things because they don’t say no.

4. They never complain about the system  : Let’s admit, even they have problems when the work system becomes a little restrictive. But what sets successful people apart is instead of cribbing, they find a way out.

5. They never complain about how much work they haveThey enjoy their work. They sign up for it. Because they like to have a lot on their plate and then achieve it all. They over prepare themselves and then they go with the flow. They don’t complain about the quantity of their work. They just try to set new quality standards.

6. They never talk too much about their personal livesSuccessful people believe in keeping the mystery around themselves. They also know how to communicate better in their workplaces. They know that at work, one should focus only on work related issues. That’s why, they talk the least about their personal lives.

7. They never say mean things to their colleagues Because they are awesome people. They are never rude to their colleagues. If they don’t like something, they make polite confrontations. They don’t believe in rumors. They simply know ‘How to avoid controversies’.

8. They never talk about their financialsSuccessful people don’t brag about the money they make because they know it breeds unhealthy competition. They want everyone to compete on equal footing on the basis of their talents and outcomes and productivity; not money. Successful people also know – money is not a good end result of every endeavor. Hence, they keep it out of their discussions. – SAILESH MALANI

#Knowledge : Benjamin lee

“Stock market is a battlefield. Always remember to survive in the game first. Only those that survive the battle can enjoy the spoils of the war.” “Never revenge for your losses in share market. It will get you killed.” *“It is better to be late, and catch the right worm, than catching the snake’s tail.” “The stock market is always there. It has been there for centuries, and it lives longer than anyone of us here. Therefore, don’t rush and trade all your capital like there is no tomorrow.” “Human is always subject to his own emotion. How many of us can break free from the greed, fear, and unfounded hope that are so common in stock market?”

“Do not underestimate the power of a raging bull, and the strength of a bear in stock market. Both have the power to trample you to death if you fight against them.” “The secret recipe for success in stock market is simple. 30% in market analysis skills, 30% in risks management, 30% in emotion control, and 10% in luck.”  stock market is simple. 30% in market analysis skills, 30% in risks management, 30% in emotion control, and 10% in luck.”

“The worst enemy to any stock traders and investors are Greed, Fear, and unfounded Hope.”

#KnowledgeMONEY MANAGEMENT is ultimate key which everyone talk about,

“Do you trade for the money or for the thrill? Don’t tell me, just show your trading records. Don’t have good records? Well, that’s an answer in itself. If you keep records, then the slope of your equity curve will show how serious you are about trading.
Most people enter the markets for the money, but soon loose track of that goal and start chasing some private version of fun. The trading game is a lot more interesting than solitaire and feeds dreams of wealth and power.

Money management is the craft of managing your trading capital. Some call it an art, others a science, but really it is a combination of both, with science predominating. Money management is the craft of managing your trading capital. Some call it an art, others a science, but really it is a combination of both, with science predominating. Money management is to accumulate equity by reducing losses on losing trades and maximizing gains on winning trades.

When you cross the street after the “Walk” sign lights up, you still glance right and left because some crazed driver may be barreling toward the crosswalk, sign or no sign. Whenever your trading system gives you a signal, money management becomes the equivalent of glancing right and left. A good system ensures that winning is more likely than losing over a long series of trades. If your system can do that, you need money management, but if you have no positive expectation, no amount of money management will save you from losing.

Money management has two goals: survival and prosperity. The first priority is to survive, then to grind out steady gains, and finally, to make spectacular gains. Beginners tend to have those priorities reversed. They
shoot for spectacular gains but never think about long-term survival. Putting survival first makes you focus on money management. – Dr. Sagar

#askquestion :

In closing, trading is not about ‘getting it right’ all the time. As Mark Douglas emphasized, it’s about probabilities, specifically, learning to think in probabilities. When you combine a high-probability trading edge like my price action trading strategies, with an understanding and acceptance of the random outcome of every trade you take, you put yourself in a position to profit consistently if you trade with discipline over a large enough sample size. – Gilani

#askquestion :

“The hard, cold reality of trading is that every trade has an uncertain outcome.”

– Mark Douglas

The uncertain outcome of any given trade, or the random outcome, is the reason why it seems so difficult to determine when to take profits on a trade.

The truth is, us humans have an innate desire to control things, situations, and even other people sometimes. So, when that innate desire meets the uncontrollable market, there is bound to be some, shall we say, cognitive dissonance involved. When situations do not unfold how we want or expect them to, it makes us frustrated, angry or sad. When it comes to trading, this is exactly why you cannot expect any particular outcome on any particular trade, because if you do, you are going to jump-start an emotional storm of negative feelings that cause you to commit account destroying trading mistakes if the outcome you expected on a trade isn’t the outcome you got.

When you achieve complete acceptance of the uncertainty of each edge and the uniqueness of each moment, your frustration with trading will end.

– Mark Douglas

It can be difficult to understand how you could make money in the market if every trade has an essentially random outcome because that fact seems to be in conflict with the fact that traders do make money consistently over time and it is possible. The difficulty lies in the fact that you need to hold two different understandings of trading in your mind simultaneously that seem to be in conflict with each other.

*The first understanding is that you can make money consistently if you execute your trading strategy consistently over time. 

*The first understanding is that you can make money consistently if you execute your trading strategy consistently over time. 

The above sentence is how casinos make so much money each year off of seemingly random games. Casinos know that even if their ‘edge’ is say 5%, then that means over a large enough sample size, they are going to make 5% on every dollar risked in their casino. The key is to execute the strategy or edge consistently over a large enough sample size to see it pay off.

It’s the ability to believe in the unpredictability of the game at the micro level and simultaneously believe in the predictability of the game at the macro level that makes the casino and the professional gambler effective and successful at what they do.

– Mark Douglas

                      Expectation is the enemy of trading success

Now, let’s dig into the psychology behind why people struggle with profit targets and with trade exits in general, profits or losses.

          When I put on a trade, all I expect is that something will happen.

         – Mark Douglas

The only expectation you should have is that IF you follow your trading strategy / trading edge over a large enough sample size, you should come out profitable at the end of that sample size, assuming you are using an effective trading strategy of course.

            The best way to approach profit targets and trade exits

Why do casinos make consistent money on an event that has a random outcome? Because they know that over a series of events, the odds are in their favor. They also know that to realize the benefits of the favorable odds, they have to participate in every event.

– Mark Douglas – Gilani

#Knowledge : Do what the wealthy do, and you will have what they have. Here is what they do:

1.Develop a “workaholic” attitude. This is the 40+ formula: you work 40 hours a week for survival and everything after that for success–every hour over 40 is an investment in your future (the average millionaire works 59 hours a week).

2. Do first things first. Make a to-do list. Set priorities on each activity, focus on the highest priority first, and work on it till it is done. Ask yourself “what is the best use of my time right now?” and then do it. This is the habit of high performance.

3.Practice self-discipline. Do what you should do when you should do it even if you don’t feel like it. Delay gratification for long-term benefit–successful people do the things they don’t like to do when failures don’t do them.

4. Dedicate yourself to lifelong learning. To earn more you must learn more.

5. Dedicate yourself to serving others. Success is determined by doing more than what is expected–there are never any traffic jams on the extra mile.

6. Get around the right people. Your network = your net worth. You will tend to be like the people you spend time around. Build a network of quality people–find those you want to be like, get involved, help those people, be a go-giver instead of a go-getter.

7. Never consider the possibility of failure. Failure makes you stronger–fear of failure is what will hold you back. Take calculated risks in the direction of your goals. What is the worst that could happen? Make a habit of doing the things you fear. – Sailesh Malani

#Bookathon : TRAINING UNTIL YOUR ACTIONS BECOME AUTOMATIC :

“What will you do if your stock jumps five points in your favor? Five points against you? What if your future goes limit up? Limit down? If you have to stop and think while you’re in a trade, you’re dead. You need to spend time preparing trading plans and deciding in advance what you will do when the market does any imaginable thing

The mature trader arrives at a stage where most trading actions have become nearly automatic. This gives you the freedom to think about strategy. You think about what you want to achieve, and less about tactics of how to achieve it.The longer you trade and the more trades you put on, the more you’ll learn. Trade a small size while learning and put on many trades.

Remember, the first item on the agenda for a beginner is to learn how to trade, not to make money. Once you’ve learned to trade, money will follow.”

Dr. Sagar

#Knowledge :  knowledge of the day :

Trading is trend and price based, and not opinion based. This means that if you buy stock at Rs 100, and then the price falls to Rs 95 you can take your loss and square off your trade. This is one common quality of successful traders.
In trading you should remember Churchill’s words, ‘You have to lose many a battle to win the War’. Along with that one should also remember word of George Sores, “It’s not important whether you are right or wrong, it more important how much you lose when you are wrong and how much money you make when you are right”. This requires you to square unfavorable trade, and to pyramid your profitable ones. In trading, everything else is illusion and hope, the sole reality being a price.

-Dr. Sagar

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