How Winning Traders Rebound, make a Come Back, and Never Quit

I firmly believe that what truly separates the 5% of winning traders from the 90% that lose and 5% which are at breakeven is the "Trader’s Mindset". The vast majority of traders think they want to trade until the losses hit them over and over and they just can’t mentally and emotionally handle it and end up quitting entirely.
I believe the following ten principles separate the quitters from the winners in the stock market.

• They accept losing trades quickly but it does not define them, they learn and try again. The next trade will be more wise than the last one.

• They compartmentalize emotions by not blaming themselves but understanding the historical expectancy of their systems returns.

• They have a bias toward action by constantly doing things that move them closer to their goal of being a rich trader. (Homework, chart study, reading, being mentored, back testing, etc. )

• They change their minds sometimes, they know when to stop doing something that does not work and move in the direction of trading success through new lessons. They learn what type of trading is right for them.

They prepare for things to go wrong through risk management

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Milestones You Must Pass to Become a Trader

Most people jump into the stock market expecting instant, grandiose results that are not realistic. Sorry to burst your bubble, but trading success is a marathon, not a sprint! For a lot of people that is hard to hear. They don't want to train, they don't want to get out of their comfort zone, they don't want to change their lifestyle in order to achieve success. They want money to be handed to them on a silver platter.

We are here to tell you the truth: There are no shortcuts. Successful trading is hard work, and any other line of thinking is a one-way ticket to failure.

Trading is a journey, and you need to treat it as such. Back to the marathon analogy for a moment. When you are training for an endurance race, you don't immediately go out the first day and run 26.2 miles, or even 10 miles. The first thing you do is build a realistic step-by-step program to build up your endurance based on your starting point. If you try to run too far, or too fast, you could injure yourself or damage your psyche.

Trading is the exact same way.

Goal-setting is extremely important in life, and 

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How to trade Nifty on Union Budget 2014

• FII's sold 17.4 K contract of Index Future worth 662 cores, 11.5 K Long contract were squared off and 5.8 K short contracts were added  by FII's. Net Open Interest came down by 5.7 K contract suggesting FII are again going short at higher level.

Nifty continued with its correction and took support at 7551 as we discussed yesterday as per abc pattern , Now Nifty has corrected 258 points from highs,Today we have discussed 2 Elliot Wave target Bullish and bearish, Bullish target comes @ 7843 and bearish one @ 7394 as discussed in below chart.Nifty will be highly volatile today and big move can be expected as per time analysis between

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Nifty Option Trading Strategy for Union Budget 2014

With the Indian Union Budget to be presented on 10 July , and as discussed in previous post Nifty remains in a wide range so there is  an opportunity to trade in Nifty Options  And the opportunity could turn out to be quite promising.
Which will be market direction post budget we do not know so its  best we take a position that is completely independent of the direction of the market and possibly make money out of it.
Though we dont have an idea of the direction, historically, the maximum change in Nifty from the budget date to the next expiry date is quite decent in either direction. So, we can fairly assume that the move post budget is going to be big as it always is. So lets discuss the Option Strategy

Long Straddle strategy

A long straddle strategy is when you buy a Put Option and a Call Option of the same expiry and at the same strike. As most of retail investor will prefer trading the Option Route to trade ( They should not trade but still they cannot resist the temptation of not trading ;) ).Yeah, offcourse, there could be a loss. There is nothing called '100% probability of profit' in stock market. But, definitely we can identify strategies with bear minimum losses and with a good potential

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Nifty corrects from 7800, How to trade now ?

FII's sold 14.1 K contract of Index Future worth 550 cores, 6.1 K Long contract were squared off and 7.9 K short contracts were added  by FII's. Net Open Interest came up by 1.8K contract suggesting FII are again going short at higher level.

Nifty made a fresh life high today@7809 almost near to out target of 7800  Can Nifty form short term top around 7800 ?  , and tanked almost 200 points making low of 7596. The current downfall can see 2 target one we can..

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