3 Mantra of Successful Trading Part-II

[ Wednesday, September 28 | 0 comments ]
In Continuation with Previous Post
In last Post we discussed about Trading Method today we will discuss about the remaing 2 mantra
  • Money management That is simply how much  you trade with, stop loss points and how much you are risking in each trade.
  • Traders Mind Set This for me is the most important thing leading to trading success, this can be described as being able to control your fear, your greed and having discipline overall to stick to your system regardless of what the next guy is doing.
Money management
Proper money management make

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Intraday Traders can use the below mentioned levels

Buy above 621 Tgt

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Nifty held on to gann trendline, Will it Bounce, EOD Analysis

[ Tuesday, September 27 | 0 comments ]
  • FII's sold 6.1 K contract of Index Future worth 356 cores ,9 K Long contract were added by FII's and 15.2 K short contracts were added by FII's. Net Open Interest increased  by 24.2 K contract, so fall in market was used by FII's to enter long and enter shorts  in  Index futures. 3 Mantra of Successful Trading
 As discussed last Analysis    8715 low made today and close below 8750 level, suggesting bears have upper hand now can push nifty towards 8675/8650 levels which is extended ABCD pattern target, As we are near gann angle so if we hold on to 8700 tomorrow we can see bounce back till 8787/8806/8832 levels. Close below 8700 can push index towards 8650/8577 levels, exciting expiry coming.  Nifty made low of 8690 but closed above 8700, suggesting bulls can see a move till 8787/8806 holding

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Bank Nifty holds 19500 and gann trendline,EOD Analysis

As discussed in Last analysis  Now bulls should hold the 19450-19500  range near gann angle line for upmove back towards 19800/20200. Close below 19500 can quickly push bank nifty towards 19360/19100. Bank Nifty continue to hold 19500 and gann trendline as shown in below chart,Bulls needs to hold 19451-19500 range for target of 19732. Any close below 19451  target of 19300/19100.   3 Mantra of Successful Trading

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3 Mantra of Successful Trading

A Student of mine told me this "I am doing great when doing paper trading but  when it comes to trading in the real world, I am still not winning as i am expecting myself to be."
The hard truth all traders eventually learn is that trading is far more difficult when you sit in front of your trading terminal with real money even if you have a very effective trading strategy.
There are 3 basic things we need to develop over a period of time to be a good trader. They are Mind, Money and Method. All there should be in sync if we want to succeed. You have the best strategy but not having mental discipline it will not work out. All 3 are MUST to be successful trader.

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