Three milega of today's trading
Today is 26 december 2019 when I am writing this article . In this article I will write about three mistake I have done while I was trading today. I were trading in the market entire day. I used price Action to take trades. Sometimes it is beneficial to watch market all day on your computer screen sometime not . Here are three mistakes of todays trading .
Mistake #1
Which is very common to all retailers they don't wait for perfect time . they always want to make money very fast . As I were in unionbank dec 56 put @ the cost of .25 paisa. I took 700 loss by selling this put @15 paisa. But at the end of the the price of this put went 1.5 rupees. It means if I have kept myself in this trade all day I can book 8750 rupees profit at the end of the day.
Mistake #2
After selling Union bank dec 56 put I brought nifty dec 12150 put at the avg cost of 1.9 rs. I took 11 lots which I sold at aveg cost of 2.8 . But at the end of the day the price of same put went up to 23 rupees.I think if I stayed in this trade all the day I could have booked 16000 plus profit at the end of the day.
Mistake #3
In between these two trades I tools lots of small trade . which adds up in brokerage and nothing more. Here I am feeling the lack of good trading plan . As many experts say "Plan your trade and trade your plan". I don't have a concrete plan for today .
These are the three mistakes of today's trading . Following are the lessons I learnt today .
Lesson#1
Keep patience market is not bound to move when you enter in the market. It takes time to make money. It can't just earn in a minutes or two. though In bigger time frame risk of losing money is higher. But you have to be patient in order two make big profits.
Lesson#2
Don't go and pick any stock to trade. plan your trade wisely . And execute your plan carefully . In market hours there are distractions . But you have to avoid all of them and keep yourself calm so that no distraction can sway you from your plan . Planning and execution is two important parts of trading . Those who don't plan ends up washing out their account . Same those who don't execute according to plan they don't make money and brokerage will eat up their account .
Lesson#3
Have faith in yourself you are picking good trades but due to lack of patience you aren't making good profit. Maybe another reason that is keeping you away from taking profit. Be calm and try to find the reason . With calm and kool mind you can easily tackle your weak point that is keeping you out of the group of pfofitable trader. Trading is a psychological game/exercise. To trade well you have to have a trading plan and calm mind to execute your trades.
4. Don't rely on others analysis. They are telling you their perspective . Do your own research . Now a days all information is available on internet . Take help of it and have a learning attitude .As someone has said that earning comes after Learning . Keep in mind that without learning you can't earn a dime.
If you are doing mistakes it is ok . But don't repeat same mistakes. Learn and do new mistakes again learn in some time you will find that you have learnt a lot .
If you have any suggestions you are welcome write your suggestions in comment box below . If you have any question please comment in comment box . I will reply your questions as soon as possible.
Today is 26 december 2019 when I am writing this article . In this article I will write about three mistake I have done while I was trading today. I were trading in the market entire day. I used price Action to take trades. Sometimes it is beneficial to watch market all day on your computer screen sometime not . Here are three mistakes of todays trading .
Mistake #1
Which is very common to all retailers they don't wait for perfect time . they always want to make money very fast . As I were in unionbank dec 56 put @ the cost of .25 paisa. I took 700 loss by selling this put @15 paisa. But at the end of the the price of this put went 1.5 rupees. It means if I have kept myself in this trade all day I can book 8750 rupees profit at the end of the day.
Mistake #2
After selling Union bank dec 56 put I brought nifty dec 12150 put at the avg cost of 1.9 rs. I took 11 lots which I sold at aveg cost of 2.8 . But at the end of the day the price of same put went up to 23 rupees.I think if I stayed in this trade all the day I could have booked 16000 plus profit at the end of the day.
Mistake #3
In between these two trades I tools lots of small trade . which adds up in brokerage and nothing more. Here I am feeling the lack of good trading plan . As many experts say "Plan your trade and trade your plan". I don't have a concrete plan for today .
These are the three mistakes of today's trading . Following are the lessons I learnt today .
Lesson#1
Keep patience market is not bound to move when you enter in the market. It takes time to make money. It can't just earn in a minutes or two. though In bigger time frame risk of losing money is higher. But you have to be patient in order two make big profits.
Lesson#2
Don't go and pick any stock to trade. plan your trade wisely . And execute your plan carefully . In market hours there are distractions . But you have to avoid all of them and keep yourself calm so that no distraction can sway you from your plan . Planning and execution is two important parts of trading . Those who don't plan ends up washing out their account . Same those who don't execute according to plan they don't make money and brokerage will eat up their account .
Lesson#3
Have faith in yourself you are picking good trades but due to lack of patience you aren't making good profit. Maybe another reason that is keeping you away from taking profit. Be calm and try to find the reason . With calm and kool mind you can easily tackle your weak point that is keeping you out of the group of pfofitable trader. Trading is a psychological game/exercise. To trade well you have to have a trading plan and calm mind to execute your trades.
4. Don't rely on others analysis. They are telling you their perspective . Do your own research . Now a days all information is available on internet . Take help of it and have a learning attitude .As someone has said that earning comes after Learning . Keep in mind that without learning you can't earn a dime.
If you are doing mistakes it is ok . But don't repeat same mistakes. Learn and do new mistakes again learn in some time you will find that you have learnt a lot .
If you have any suggestions you are welcome write your suggestions in comment box below . If you have any question please comment in comment box . I will reply your questions as soon as possible.