Trading Lesson Learnt From my Trading Guru Part-II

Continuing with my previous week article Trading Lesson Learnt From my Trading Guru
I hope many traders who are trading or willing to start trading will be facing with the same dilemma and confusion so today am sharing few fundas i got from my trading guru. Use them and see the change in your trading.

 As a traders its not mandatory to be in market all the time.

The basic mindset of amateur trader is we are  supposed to have a position, in market all the time.
My GURU Answer: Emphatic NO.
This is one of the most difficult things to learn. Psychologically, it feels strange to have no position. It can feel like we aren’t working or that we don’t have a view on the markets.
My Guru said if you didn’t have a strong view on any market, then stay out of market. Money Saved is money earned. When there was nothing to do, he did nothing. He would say “It’s better to have no position than a dumb one”. By allowing himself to skip dumb that were driven by boredom frustration, he avoided trades that were likely to lose him money  Thus, he could wait comfortably until the really profitable trades appeared and get the most out of it.
While such an approach seemingly demands the patience of a saint, it is actually easier to sustain long-term. Once you have a methodology and are comfortable with it, Like our GANN strategy , Once we are in the trend we just sit on our positions and let the market reward for our patience.


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