To become a successful trader, first you need to know the factors that play against you in market.
just my thoughts here...
just my thoughts here...
1. Market and Market men are superior. Align with them.
a. A 500Cr guy will do good and control market than against 10K people having 1L each. it is because Not all 10K people think & execute the same.
So the one guy who has muscle power rule it . Especially options 0DTE.
a. A 500Cr guy will do good and control market than against 10K people having 1L each. it is because Not all 10K people think & execute the same.
So the one guy who has muscle power rule it . Especially options 0DTE.
b. Moreoever all big market men work in co-ordination. So 10 such people play in market together, the odds are against you as a retailer.
c. What is aligning. Just do what big guys do as per your capacity. Never go against market.
c. What is aligning. Just do what big guys do as per your capacity. Never go against market.
2. Market behaviour is always short term in nature.
Some times it lasts for a week or two. but it changes its mind every day/hour/15min. It is always good to come with a fresh mind on a daily basis. Even if you are positional trader, assess your positions on a daily/ need basis
Some times it lasts for a week or two. but it changes its mind every day/hour/15min. It is always good to come with a fresh mind on a daily basis. Even if you are positional trader, assess your positions on a daily/ need basis
3. Market as a whole will Eventually go up, Always.
if not today or tomorrow, Market will always bounce back. Invest in companies that would last for decades. These companies would sail through tough times and gives you great return.
if not today or tomorrow, Market will always bounce back. Invest in companies that would last for decades. These companies would sail through tough times and gives you great return.
4. if you are not having stop loss. There is no stop for your loss.
Always take a trade with a well defined exit route. Be it loss or profit. Stick to it.
Always take a trade with a well defined exit route. Be it loss or profit. Stick to it.
5. Jot down your trading mistakes on a daily basis.
More you do the same mistakes again and again, it is worth you spend time in correcting it. the easy thing is write it down and memorize it.
More you do the same mistakes again and again, it is worth you spend time in correcting it. the easy thing is write it down and memorize it.
2nd best thing, before you initiate the next trade, see if it matches to any of previous identified mistake. Avoid it.
Practicing the above one make you to trade less and eventually profit more.
Practicing the above one make you to trade less and eventually profit more.
6. Avoid greed and fear.
Dont try to make all the money in one trade. Over positioning should be avoided at all time. Just stick to target of 2% or 3% in a month and once you hit, reduce the position size for the rest of the days/week.
Dont try to make all the money in one trade. Over positioning should be avoided at all time. Just stick to target of 2% or 3% in a month and once you hit, reduce the position size for the rest of the days/week.
7. Be consistent & Create a pattern
As a trader, Watching market everyday helps you identifying the pulse of it for the day and at times for nextday too. You dont need to trade, but be watchful of MKT & its move.
Create 2/3 patterns & follow the winning one as per your analysis.
As a trader, Watching market everyday helps you identifying the pulse of it for the day and at times for nextday too. You dont need to trade, but be watchful of MKT & its move.
Create 2/3 patterns & follow the winning one as per your analysis.
8. Dont switch strategies every now and then.
Follow one or 2 high profitable strategies and stick to it. for e.x: AFAIK, Short strangle with proper hedges is of the winning strategy in a side way market.
Follow one or 2 high profitable strategies and stick to it. for e.x: AFAIK, Short strangle with proper hedges is of the winning strategy in a side way market.
9. Have a passive income in place.
it could be a job, a rental unit, a FD return or a business (other than market). whether you loss for a day/week/year in market it should not have impact on your daily life.
it could be a job, a rental unit, a FD return or a business (other than market). whether you loss for a day/week/year in market it should not have impact on your daily life.
10. There is no holy grail/formula that exist/works all the time.
Winners dont have holy grail. They align to market and it moves. Mindset is their winning edge.
Winners dont have holy grail. They align to market and it moves. Mindset is their winning edge.
11. Invest your trading gains without fail.
Dont keep all the your trading gains in the same basket. Take it whenever needed and invest it elsewhere. This should create further passive income.
Dont keep all the your trading gains in the same basket. Take it whenever needed and invest it elsewhere. This should create further passive income.
12. Life Insurance/Health insurance are must.
13. Keep it simple and be happy ! Dont look at others profit and loss. Content with what you made for the day!
#OpitonsTrading #srinivega #StockMarketindia
13. Keep it simple and be happy ! Dont look at others profit and loss. Content with what you made for the day!
#OpitonsTrading #srinivega #StockMarketindia
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