Ideas for Traders

·         The typical trader who is struggling will look for outside information that completes the puzzle or “holy grail” of trading. Go and look at yourself in the mirror. This is the missing piece in the trading puzzle. 

·        Mental rehearsal (of both positive and negative scenarios), positive imagery, inducing a relaxed state of mind, and developing daily rituals can help put you in the flow state of mind for trading. 

·         The most important question a trader can ask: “Am I acting in my own best interest right now?” This question will help you define your risk and maximize your opportunities and trading results. 

·         The very largest traders are focused primarily on risk management. Accepting and managing risk is a big part of trading. Some traders have difficulty following rules in this area. We should spend time learning about the mental biases humans have against suffering losses and become aware of these showing up in our trading. Keep a trading journal 

·         “If I was forced to rank the importance of [various aspects] of trading, setups would be at the bottom of the list. Position sizing, risk management, and psychology are really what are going to keep you out of trouble and ahead of the game. The best traders understand this and have internalized it.” 

·         You need to learn to do more of what works and less of what doesn’t. While it sounds obvious, many traders have difficulty with this as their unman aged emotions are interfering with their perceptions and trading process.

How to Control Your Emotions When You Trade

When we speak of “The Trader’s Mindset” what are we really talking about? Many of them often ask me this question and we talk about it a lot with traders I mentor.

When we trade the markets we approach the markets each and every day with a psychological mindset or set of beliefs and emotions. New traders often enter trading with beliefs about trading and the markets that simply do not apply to the realities of trading. This is why new traders get into trades and can’t get out or don’t know when to take profits or get out at the bottom and get in at the top of markets. In other words they make bad trades because they are trading from inaccurate beliefs and become subject to their emotions of fear and greed.

With proper education, experience and direction these traders can turn their trading around. Usually new traders realize after a while of experiencing large losses or working very hard and still losing that they need to change. What they thought would work does not and they recognize that their emotions are working against them and not for them in trading.

Once they get to this point, traders either quit trading or seek help to overcome their trading handicaps. If you find yourself at this point, you need to seek help from someone who is a successful trader. The help you get or don’t get at this time will seal your fate as a trader. We teach you the importance of controlling yourself when trading. We call this developing “The Trader’s Mindset” to think as a trader should and not become subject to your negative emotions. In order to be successful in trading, you must not fall prey to the very emotions you are trying to exploit. In short term trading when we win, someone must lose. This is a hard cold fact of short term trading! And the successful traders usually are calm and very methodical in their trading and making money from other traders who react emotionally to market events and are therefore losing money.

“The Trader’s Mindset” knows how emotions effect trading and learns how to deal or master their responses to their emotions as well as other trader’s emotions. So, how to we develop “The Trader’s Mindset”? To begin with use stops and stick with them! By using stops you are getting out of the market on your terms before your emotions have a chance to cause you problems by staying in the trade too long and then getting out because you can’t stand another dollar of loss – which for example is usually the point where you possibly should be getting ready to enter your next trade. The profitable trader usually can calmly follow the market where ever it goes thus exploiting those traders getting out of the market on emotions.

Technical Analysis Of EXIDE INDUSTRIES (12-12-14)

Technical Analysis Of EXIDE INDUSTRIES :

Sell Exide For A Target OF 161. Stoploss At Your Own Risk Levels.

DISCLAIMER:

Investing and Trading in any equity,future,gold,silver,forex and crude-oil is risky. My recommendations are technical analysis based on & conceived from charts. The information provided is not guaranteed as to accuracy or completeness. This is my personal view only.

Please consult your adviser or consultant or analysts before investing and/or trading. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by any.