Reblog: The 6 Stages Of A Trader’s Development Part 2


This is the second part of the article. The first part can be accessed here.

Stage Four: The Determined Trader

  1. This is the stage in which you learn to specialize in certain markets and trading methods.
  2. Without realizing it, you have finally found your style of trading after hours of hard work and research. You stick to your method and you improve it
  3. You realize that you need an edge whether its tape reading or being a Fibonacci expert. The important thing is you are slowly transforming yourself into a specialized trader
  4. You test your methods and they seem to work. You gain tremendous market knowledge.
  5. You reflect back on yourself and you can’t help but laugh at your foolishness.
  6. Although you have not made enough money to call yourself successful you are proud of your journey and accomplishments
  7. You realize that the Holy Grail is not about technical indicators or price patterns
  8. You calculate risk before profits and place strict money management on all your trades.
  9. You cut losses short and learn to scale out on your winners.
  10. You start accept losing as a natural part of the game
  11. You take high probability trades that you have tested and feel confident about your setups because you understand that trading is a game of probabilities
  12. Your psychological makeup has changed from an amateur mindset to a professional one.

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Reblog: The 6 Stages Of A Trader’s Development Part 1


Stage One: The Clueless Trader

Image result for clueless trader

  1. Heard of a day trader making millions, or buying options is safe and can make you rich quickly
  2. Beginner Luck in first few trades.
  3. You will buy just to see the market reverse and you will short just as the market starts to rally. Someone is tracking my trades and making me lose money.
  4. Most of your trades are done emotionally. You buy just because the markets feel strong without any logical reason
  5. You have no clue how the mechanics and psychology of trading works. What’s worse? You are not aware that you don’t know.
  6. Most traders will blow their entire account multiple at this stage.
  7. Mostly you start your trading in fag end of bull market
  8. You will spend more time finding a broker charging least brokerage.Tracking World Markets, Bitcoins instead of making a trading plan for next day.
  9. A big majority of people will leave trading and blame the randomness of markets, or say markets are always manipulated
  10. You don’t know what is short selling or have never tried it, no idea of stop loss as well
  11. You are in the unconscious incompetence stage, at this stage, your capital is at maximum risk

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Reblog: How to Maintain Control and Discipline in Your Trading


If as a TRADER you want to have disciplined and profitable trading, The Core Concept you need to Understand is

As a Trader, you do not have any control on the market.

Nil Control on Market

You’ve either figured out or you will figure out the fact that not much at all remains under your control as a trader. Dealing with an endless set of variables using a mind that’s geared by nature to defining constants is a tough task.  Most of traders focus on returns and not focusing on the process of trading.

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Sensex ends on Friday 152 points lower, Nifty below 9,600 as investors book profits


The benchmark indices settled lower on Friday as investors booked profits in financials such as State Bank of India and auto makers such as Maruti Suzuki India. The negative trend in European and Asian markets also impacted the sentiment.

The S&P BSE Sensex ended at 31,138, down 152 points, while the broader Nifty50 settled at 9,574, down 55 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices shed over 1% each.

Market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,936 shares fell and 683 shares rose. A total of 137 shares were unchanged.

For the week, both the indices logged small weekly gains on hopes the Reserve Bank of India will cut interest rates after minutes from a monetary policy committee meeting earlier this month showed one member acknowledging that inflation had eased.

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Nifty ends on Friday at record close for 2nd straight session, up 2.5% for the week


The Sensex settled the day at 29,649, up 63 points, while the broader Nifty50 ended at 9,160, up 6 points.

Broader market underperformed the frontline indices with BSE Midcap down 0.14% and BSE Smallcap up 0.04%.

The Nifty has gained 2.5% so far this week, while the Sensex has climbed 2.85%, in what is their highest weekly gain since the end of January.

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Sensex falls 156 points on Friday to end near 5-month low; Smallcaps and Pharma stocks sink


Benchmark indices ended lower for fifth straight trading sessions dragged down by selling pressure in pharma shares while weak global cues also dampened investor sentiment. Further, consistent selling by foreign portfolio investors along with growing uncertainty over Hillary Clinton’s victory in the US Presidential election also weighed on market sentiment.
The S&P BSE Sensex ended down 156 points to settle at 27,274 and the Nifty50 settled 51 points lower at 8,434. Sensex touched its lowest level since July 8, 2016 in intra-day trade whereas the Nifty dropped to its lowest level since July 11, 2016.
The broader markets underperformed the benchmark indices significantly- BSE Midcap and Smallcap indices fell between 1%-2.5%. Market breadth on the BSE ended lower with 200 declines and 500 advances.

Sensex ends flat for week ended July 22, 2016


Sensex rebounds 93 pts, ends flat for week; Nifty Midcap shines

Equity benchmarks recouped some of previous session’s losses to close marginally higher on Friday while the broader markets outperformed with the Nifty Midcap index rising over a 1 percent despite weakness in Asia.

The 30-share BSE Sensex was up 92.72 points at 27803.24 and the 50-share NSE Nifty gained 31.10 points at 8541.20. About 1489 shares advanced against 1178 declining shares on the Bombay Stock Exchange.

The market ended flat for the week amid consolidation, especially after a 2.6 percent rally in the previous week.

Minister of state for parliamentary affairs Ananth Kumar has informed the Rajya Sabha today that the landmark legislation – GST Bill – will be taken up for discussion next week.

ITC lost 0.4 percent on profit booking after first quarter earnings. The company clocked 3 percent growth in cigarette volume in Q1 after 12 quarters of decline. Citi has maintained a buy rating with a target price of Rs 295. In his last AGM as ITC chairman, YC Deveshwar said he expects FMCG revenue to hit 1 lakh crore by 2030.

 

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