Hello everybody,
I am from India. Mostly trade in stocks. Trading since last two years. I faced loss almost everyday. Since last two months I am breaking even.Not making good profit but not loosing either. Those who said expertise comes through experience, they are right. I am now beginning to recognise price patterns and identify good trding set up.
Livermore has mentioned in his book "There are the wall street fools who take the wrong decisions at the wrong time always and everytime." In the beginning I used to be one like that.
I feel, I have strong theoritical knowledge like anybody; when it comes to practical trading I am not big zero but certainly very poor. I used to choke, hesitate and let my losses run while taking losses. The plan should be to stay longer in trade when I am right; but I was doing the opposite. I think I have have overcome a lot of these problems.
My suggestions for new traders-
-If you want to succeed, stay longer in the game and gain as much experience as you can. Experience is gold, nothing can replace it.
-To saty longer, one must not loose. So cut your losses fast. Always put a physical stop to prevent big losses. When you get hints that you are in bad trade, apply your mental stop, exit immediately amd never allow the trade to hit your physical stop.
-Identify the immediate trade and go with it.
siva
I am from India. Mostly trade in stocks. Trading since last two years. I faced loss almost everyday. Since last two months I am breaking even.Not making good profit but not loosing either. Those who said expertise comes through experience, they are right. I am now beginning to recognise price patterns and identify good trding set up.
Livermore has mentioned in his book "There are the wall street fools who take the wrong decisions at the wrong time always and everytime." In the beginning I used to be one like that.
I feel, I have strong theoritical knowledge like anybody; when it comes to practical trading I am not big zero but certainly very poor. I used to choke, hesitate and let my losses run while taking losses. The plan should be to stay longer in trade when I am right; but I was doing the opposite. I think I have have overcome a lot of these problems.
My suggestions for new traders-
-If you want to succeed, stay longer in the game and gain as much experience as you can. Experience is gold, nothing can replace it.
-To saty longer, one must not loose. So cut your losses fast. Always put a physical stop to prevent big losses. When you get hints that you are in bad trade, apply your mental stop, exit immediately amd never allow the trade to hit your physical stop.
-Identify the immediate trade and go with it.
siva
