FROM AN EXPERIENCE
The first step in the decision-making process is to realize
that what you are doing is not working. Remember that falling down
is a positive motions is you bounce right back.
Make a list of the positive and negative things that will happen when
you take action on the decision.
that what you are doing is not working. Remember that falling down
is a positive motions is you bounce right back.
Make a list of the positive and negative things that will happen when
you take action on the decision.
Don’t expect instant gratification if you make the decision. Decision-making is a process that begins with the first step but these steps are the foundation for a stronger behavioral structure. This structure will give you the confidence in your trading.
Confidence plays a key role in successful trading. Having the confidence necessary for successful trading can help the trader in difficult trading environments. Whereas one trader lacking confidence and good decision-making skills may be frozen and unable to act,
the trader who has taken the time to build this foundation will be prepared to take the appropriate actions.
Confidence plays a key role in successful trading. Having the confidence necessary for successful trading can help the trader in difficult trading environments. Whereas one trader lacking confidence and good decision-making skills may be frozen and unable to act,
the trader who has taken the time to build this foundation will be prepared to take the appropriate actions.
There is a huge difference between a wish and a decision.
A wish is a negative and puts the trader in a frozen state waiting for something to happen (generally associated with trying to get even on losing trades).
That is negatively charged energy. Decisions, on the other hand,
are positively charged energy. It makes the trader take action.
Taking action is taking responsibility. You alone are responsible
for your current mental state or condition.
Decisions can be both good and bad of course. The sooner the trader
realized the bad decision, the sooner they can act to correct it.
You are in control.
“Nobody can hurt me without my permission.”
What you feel and how you react to something is always up to you. There may be a “normal” or a common way to react to different things. But that’s mostly just all it is.
You can choose your own thoughts, reactions and emotions to pretty much everything. You don’t have to freak out, overreact of even react in a negative way. Perhaps not every time or instantly. Sometimes a knee-jerk reaction just goes off. Or an old thought habit kicks in.
And as you realize that no-one outside of yourself can actually control how you feel you can start to incorporate this thinking into your daily life and develop it as a thought habit. A habit that you can grow stronger and stronger over time. Doing this makes life a whole lot easier and more pleasurable.
Without action you aren’t going anywhere.
“An ounce of practice is worth more than tons of preaching.”
Without taking action very little will be done. However, taking action can be hard and difficult. There can be much inner resistance.
And so you may resort to preaching, as Gandhi says. Or reading and studying endlessly. And feeling like you are moving forward. But getting little or no practical results in real life.
So, to really get where you want to go and to really understand yourself and your world you need to practice. Books can mostly just bring you knowledge. You have to take action and translate that knowledge into results and understanding.
(to be contd)
HOW TO HANDLE EMOTIONS & STRESS IN TRADING
While many traders say they can keep emotion out of their trading, I believe when it comes right down to it they’re being disingenuous.
Unless those same traders really employ a completely robotic
trading system which requires absolutely no supervision or control,
that simply cannot be true.
This is one of those things that I’ve seen many traders say to impress others, but in reality it just isn’t possible or even realistic.
trading system which requires absolutely no supervision or control,
that simply cannot be true.
This is one of those things that I’ve seen many traders say to impress others, but in reality it just isn’t possible or even realistic.
When you have real money on the line and have also invested your own time and energy beyond that, emotion will play a significant role in every decision.
After all, none of us are trading robots! We all have feelings and egos and therefore our trading and investment decisions will be impacted from those even in subtle ways that you may not even realize. The key is to learn how to use those emotions to your advantage.
For some of you, trading completely contrary to your logical fears is an excellent way to make big money in the markets. Just look at all of the people who went short hoping for Hindenberg Omen type crash in August and who’ve been fighting it every step of the way!
After all, none of us are trading robots! We all have feelings and egos and therefore our trading and investment decisions will be impacted from those even in subtle ways that you may not even realize. The key is to learn how to use those emotions to your advantage.
For some of you, trading completely contrary to your logical fears is an excellent way to make big money in the markets. Just look at all of the people who went short hoping for Hindenberg Omen type crash in August and who’ve been fighting it every step of the way!
As far as coping with stress, we all have to develop our own methods. But, this is what I’ve learned over time. For me, stress comes primarily from three things:
1. Not having a plan and being out of position in a challenging market
2. From not staying on top of my work and not sticking to my rigorous routine (usually from unforeseen events like technology issues or personal issues that all of us experience from time to time)
3. Stress and pressure I place on myself in hitting my daily, weekly, and monthly goals especially when I’m not performing up to my expectations
So, how do I cope with these?
Here are a few thoughts…
First, I try to always have a game plan in place, hopefully with a number of potential scenarios in mind. Then I evaluate each scenario and trade accordingly.
I’ve become fairly good at it and the market doesn’t usually surprise me. And, even when it does, that too is valuable information that I can often use to my advantage in some way.
Second, I try to stick to a routine as much as possible no matter what happens or is thrown my way. Case in point, if you looked at what I did on the day of the infamous flash crash and compared it with yesterday, my routine would have looked exactly the same. The market may do some crazy things from time to time, but my work routine doesn’t usually vary.
While it is true that I work a lot of hours, I also do what I can to get away and build that into my regular routine. For example, when I’m not at my desk, the last thing I think and talk about is the markets.
For that very same reason, most of my close and dear friends
have nothing to do with the market. While many people as you can
imagine want me to meet up with them to talk about stocks
and the markets, but honestly I try to avoid whenever possible.
I do that not because I don’t want to help out or be friendly,
but because what precious little time I spend away from the trading
desk I don’t want to spend talking about work.
I do that enough already as it is!
have nothing to do with the market. While many people as you can
imagine want me to meet up with them to talk about stocks
and the markets, but honestly I try to avoid whenever possible.
I do that not because I don’t want to help out or be friendly,
but because what precious little time I spend away from the trading
desk I don’t want to spend talking about work.
I do that enough already as it is!
Although I truly love what I do for a living, I try my best to have a life away from it and having a number of hobbies you really enjoy can be tremendously helpful.
Finally, while I’m very much a goal-oriented person,
through experience I’ve learned when to back off and not beat myself up for mistakes and periods of routine poor performance.
through experience I’ve learned when to back off and not beat myself up for mistakes and periods of routine poor performance.
After all, that’s part of this game and you’ve got to expect it. I know my patterns well enough to understand that in every month on average, there will be one week that my performance will stink.
In addition, most weeks I have at least one to two losing days on average. Knowing this and expecting it, helps me keep stress at bay.
In addition, most weeks I have at least one to two losing days on average. Knowing this and expecting it, helps me keep stress at bay.
Market conditions play a much greater role in our performance than many traders are willing to recognize.
There are times the you will not do very well and it isn’t because you are doing something wrong or that you lack some specific skill, but that conditions are just simply awful.
Part of good trading is knowing when those times are so you can back off. Likewise, when conditions are great, you’ve got to fully capitalize on them!
There are times the you will not do very well and it isn’t because you are doing something wrong or that you lack some specific skill, but that conditions are just simply awful.
Part of good trading is knowing when those times are so you can back off. Likewise, when conditions are great, you’ve got to fully capitalize on them!
Well, that at least offers some perspectives on how I manage the things which cause me the most stress.
Unfortunately, your stressors probably come from other and different sources than my own.
Unfortunately, your stressors probably come from other and different sources than my own.
If you’re feeling stressed and out of whack, the first step I think is simply to spend time figuring out the source of it. Once you identify the source, no matter what it or who may be, then you have to figure out ways to work around it or at least soften its impact on you.
But, awareness of what the source of your stress is, is often the most challenging part.
TODAY’S DAY TRADING STRATEGY
Free Weekly Stock Market Prediction
Planetary position during September 2010
Sun will transit from Virgo sign.
Mercury will transit from Leo sign.
Venus will transit from Libra.
Moon will transit from Capricorn, Aquarius and Pisces.
Mars will transit from Libra.
Rahu will transit from Sagittarius.
Jupiter will transit from Pisces. Jupiter will retrograde.
Saturn will transit in Virgo.
Ketu will transit in Gemini.
But, awareness of what the source of your stress is, is often the most challenging part.
In my experience,
traders who make the markets their entire lives won’t last very long. You have got to have some balance in your life to keep stress at bay and frankly to achieve the level of performance you desire!
TODAY’S DAY TRADING STRATEGY
OF NIFTY FUTURES – SEPT 20
Good resistance @ 5947-64-87
& after that @ 6016-39
Strong support @ 5868
If trades above 5892 no problem for Bulls
And can see a sure surge upto 5945-55-65
If trades below 5892 for 15-25 min
An intraday slide upto 5868-58-48
is possible, but chances are remote in this direction.
Suppose if crosses 5965 or breaches 5848…?
Subscribe to get more exact levels and fresh updates
BANK NIFTY
Resistance @ 12236,12292-347
Support @ 12056
Do not take short positions above 12114
Buy btwn 12189-12212
T1 – 12250-69
T2 - 12287-311
Sell @ 12112-089
T1 – 12051-32
T2 - 12015-11990
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Sell NAVINFLUOR @ 268
T1 – 264.20
T2 – 260.50
WHAT ASTROLOGY SAYS THIS WEEK?
Free Weekly Stock Market Prediction
and Forecast for September 2010 :
20th September 2010 to 24th September 2010
Planetary position during September 2010
Sun will transit from Virgo sign.
Mercury will transit from Leo sign.
Venus will transit from Libra.
Moon will transit from Capricorn, Aquarius and Pisces.
Mars will transit from Libra.
Rahu will transit from Sagittarius.
Jupiter will transit from Pisces. Jupiter will retrograde.
Saturn will transit in Virgo.
Ketu will transit in Gemini.
Stock Market Prediction for 20th September 2010
Transiting Moon will be passing through Capricorn Zodiac sign. Transiting Moon will be separating aspect from Transiting Rahu, Moreover, Moon is void of course; Moon would make any aspect with any planet only after changing sign, which indicates Market may volatile during first trading session. Market trend may change after 13.37. It may notice upward trend from lower level. Market may go up between 13.53 and 14.22. Market would close up during last trading session. One can make position on intraday low of 20th September 2010.
Transiting Moon will be passing through Capricorn Zodiac sign. Transiting Moon will be separating aspect from Transiting Rahu, Moreover, Moon is void of course; Moon would make any aspect with any planet only after changing sign, which indicates Market may volatile during first trading session. Market trend may change after 13.37. It may notice upward trend from lower level. Market may go up between 13.53 and 14.22. Market would close up during last trading session. One can make position on intraday low of 20th September 2010.
Disclaimer :
On repeated requests of the readers,friends
this astral prediction is started.
Traders are advised to attain some technical knowledge before they get into trades anyway
-EDITOR
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