QUALITIES REQUIRED FOR PROFESSIONAL TRADER FEAR : If you have fear of loosing the money or if you have fear of not entering into market then you will never earn from market because in trading business you have to loose money then only you can earn money but loose money on techniques only. So control your fear. If you are not having habit of loosing money then start with low investment, see the losses, see profits & when you will get confidence then increase your investment in market. PATIENCE : You should hold the trade till targets get triggered or till you get closing signal according to techniques. So have patience. GREED : kehte he LALACH BAHOT BURI BALA HE. Your targets must be clear. Invest money according to money management principles means take a risk in such a way that you will never come to ground. If you get profits then dont increase your investment beyond money management principle. If you do so you will get frustration when you start getting losses. Dont take brokers credits. PANIC : when stop losses get triggers don’t get panic. Have faith in your techniques & if any improvement required in your techniques then do that. So do paper trading for your techniques with strict stop losses & targets for 6 month to 1 year & if you get profits at end of month, end of half year, end of year then automatically you will get confidence & you will never get panic. NOT LUCKY IN MARKET : sometimes this happen when you enter in market & first time only you get losses then you will start thinking in this way that “ I m not lucky ”. so dont feel that you are not lucky. In market never earn money luckily. Earn money when you have perfect ultimately profitable techniques otherwise dont enter into market, you will only loose money. KNOWLEDGE TO ENTER, EXIT & PROFIT BOOKING : In market you should know that why are you taking position at …. point & with which techniques you are entering in market. Where you will book profit & why you will book profit, if market goes against you then where you will exit & with which technique you will exit. This all formula has to be fixed & make changes according market because market is “ SABKA BAP. “ Nobody can challenge him. STRONG INTENTION TO MAKE MONEY : you must have such a confidence that anyhow I will make money from market but to get this confidence you must have ultimately profitable techniques which are giving profits at the every end of month, end of half year & end of year then automatically you will get confidence. So do paper trading for your techniques at least for 6 month to 1 year.
Posted on: Tue, 05 Nov 2013 12:19:05 +0000