Identity Crisis: - A vast majority of people in the Stock Market don’t even know what they’re doing or what they’re supposed to do in the market. Some days you are an investor, some days you become a trader. Suddenly you come across an intra-day software and you turn to intra-day trading. One day you realize that intra-day is no good and you turn to swing trading. Just as you are about to get a hang of swing trading, your best friend calls you up to say that he has seen an excellent strategy for trading Nifty. So, you give up everything and get down to trading Nifty. You make and break some money in Nifty futures and your broker calls you one fine day and says that he has attended a very good seminar where he has learnt a strategy to trade Bank Nifty. So you give your broker the green signal to trade Bank Nifty in your account. Soon enough, you come to realize that it’s no good and you are tired and fed up of this Bank Nifty trading. By this time you are so fed up that either you take a break from trading or you become a forced long term investor, holding on to your losers from the dear stocks you have been holding for the last 5 years. These stocks are so dear to you that by now they have become your family members. Then one fine Sunday morning you are reading the newspaper and you come across a course on ‘Options’. The ‘Options’ course promises handsome returns with zero risk. You get so excited that you now decide to trade only ‘Nifty Options’. When the Nifty Options phase is over you turn to Commodities Trading. Now you’re telling people that you’re no longer a stock trader but a commodities trader. The commodities fever lasts for a couple of months when suddenly a new friend of yours recommends to you a fantastic intra-day software. You get yourself a trial version only to see how it can help you with your trading. But soon you get addicted to it and think that this is what you were looking for. After a few weeks, you get a feeling that you have finally found the magic wand and now you have total control over the markets. Again a few months pass, again a string of losses come along and again the same old story is repeated. I want to ask you, ‘What do you think you are doing?’ And do you sincerely believe that you will find any level of success doing this? I was tired writing this and I’m sure you were tired reading this. But somehow you don’t get tired of doing this for weeks, months and years. You keep jumping from one tree to another hoping to find the ‘Amrutha’ which will give you an immortal life, but that is something that exists only in your imagination and not in reality. Similarly, the magic wand for trading in the stock market is only in your imagination and not in reality. It is really unfortunate that people want to change so many things in life but they just don’t want to change themselves. People find everything around them to be imperfect or defective but somehow they feel that they are perfect. Even if they admit that they have some shortcomings they are very quick to counter it by saying that I just can’t change it or I just can’t do it. Like if some people do admit that watching live markets is a problem then they can quickly find an excuse and say that they are incapable of changing that habit or that they are watching live markets for a reason. Some even say, “I only watch live markets, but I don’t react to it”. Tell me, is it really possible to see live markets and not react to it? So, please don’t go around blaming the markets or a software or a system for your trading failures. The only person to blame is YOU. And the only thing you can and you should change is YOU. The markets for now is ‘Long, Long and Long” and we are supposed to ‘Buy, buy and buy’, but only as much as our money management permits. Remember, leveraging more than 3 times in futures trading is like signing your own death warrant. t3bindia
Posted on: Thu, 06 Mar 2014 12:40:22 +0000
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