Essentials For Trading Success

Published by Sharekhan Education | December 31, 2022

Micky R Gala / Sharekhan Education

December is a time to enjoy family, friends and acquaintances by opening your heart and home with loads of laughs and joyful noises. In other words, it’s a time to get to the essentials of what matters most in our lives…and that is relationships. Same way is your trading. In other words, to achieve your goals you have to support, develop and nature your trading process. Maintaining discipline are paramount when it comes to your trading process. So it’s crucial to know some of the essentials for your trading success.

1) Vision

“Goals” are extremely important as you begin trading. Without goals you won’t find any excitement or seriousness in your trading. Goals helps you to place proper trades with transcendent analysis. However, the goals are to be logical. While trading you should always have the reason of “WHY” are you trading. Jot down the list of your goals and start with priority one. Consider the power of beginning your trading session by imagining yourself doing exactly what was necessary to maintain you’re A-Game at the platform by following the rules and keeping all of your commitments.

2) Belief

Belief plays a crucial role. Believe your strategy, have faith within you. Trust your plans. Believe in alignment with your vision. It’s obvious you will face challenges, will make mistakes but be ready to learn and not lose your belief in your goals and trading strategy. Keep updating your strategy. You have to trust in your trade setups and it should be tested again and again and must have necessary changes till you get appropriate results on it.

3) Application

A strategy is a plan of action which helps you to achieve the goals faster. Without action everything will be in vain. After taking the action you will understand what modification you have to do for better results. Don’t keep on rigid by applying the same strategy again and again even if it doesn’t give you fruitful results, change it. Important thing is to develop the strategy for making that vision a reality. To achieve the goals your emotions and behavior plays a major role. You’ll want to create a strategy for how you will prepare and engage a mind-set with an attitude that has altitude; meaning that you employ mental/emotional tools to ensure that you be in your goal.

4) Manage your state

State of mind plays a crucial role on the strategy what you are going to apply. A frame of your mind that encloses beliefs, biases, etc. For eg. As price comes towards stop loss we get panic and due to that we make some wrong decisions and then we regret that stop loss didn’t get triggered and price went towards the target. That’s why belief in own strategy is must. Internal states are what govern your days and your trading. It is critical to “manage” your emotions while trading.

Trading is serious, when you are in the trader tranches it is imperious that you bring you’re A-Game. Your best will automatically give you required results. Jot down all your trades so that you will come to know about your weakness and strengths automatically which will help you to enhance your future trade in much better way. This is what we teach in Sharekhan Education. For more information ask your representative at Sharekhan Education or attend our Free Power Money Workshop.

By Enrolling yourself in this stock market course, a learner can learn the basics and the various aspects of trading in Futures and Options trading.