A life of a
SHORT TERM TRADER will not be finished
UNTIL he gives it up. The question is
WHEN you are giving it up. If you are giving up just as you started it then you need to ask yourself as to
WHY you decided to become a trader. There are no
UNIQUE TRADING LIFE STYLES for you to master or
COPY and
PASTE. You may look, read, study, watch videos, write notes, will test your trading and may be you have been testing your strategies through forex demo accounts.
BUT STILL you are
NOT READY. You are
NOT CONFIDENT. You are
NOT SURE. As such
YOU ARE SCARED. Because you are scared you
CAN'T CONVINCE YOUR-SELF. You do not know whether you are a trader or an investor or both. But if some one asks you you'd say you are one of those. Most of those who read these posts and many more articles,
HAVE NOT started in buying a single stock. Some have just put in a few 1000's of rupees and sitting on it. Yet they say they are traders.
DEAR READERS the 1st thing you need to sort out with you is a
PERSONAL DECISION, TELL your self that your are a
TRADER,
CONVINCE your self, be
CONFIDENT, and also
BE BOLD. When you are ready you only have to do 3
THINGS ALWAYS, and I repeat
ALWAYS. You need to have the 3 trading rules, and do it for every single trade.
THOSE 3 ARE, BUY.......SELL......STOP.......PRICE LEVELS.
A TRADER MUST ALWAYS KNOW THE BUY,SELL AND STOP PRICES, and you must stick to them
NO MATTER WHAT. As you are having a
STOP PRICE you need to know how much you are willing to loose in rupees. Is it 500, 1000, 5000, 10000 or more you are willing to risk of loosing for every trade.
This is why I have started the Google Sheet for you to use as a guide line, and if you want can follow those trades but strictly based on the 3 price rules. You also can fine tune them to suit your style or thinking. Bring discipline to your trading if you don't have that then you are not a trader.
GIVE UP YOU ARE NOT A TRADER............
Latest updates in my Google Sheet is given below:
https://docs.google.com/spreadsheets/d/1YDdK1JHGGSc8i52P21vCK8MNto2-Y0H4l53PLE_ms04/edit#gid=1284556771
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