Make Your Comebacks Stronger Than Your Setback

Make Your Comebacks Stronger Than Your Setbacks
Obviously, you started trading because you wanted financial freedom, to make lots of money, to quit your job one day and to live the lifestyle of your choice. Almost 99.9% of people coming into trading with the desire to make money and improve their lifestyle. You learned everything needed from Trading books, YouTube, Google, social media etc. Many years have passed…And you’re still not profitable. Finally, you thought to take some formal education by trading Gurus. You learned everything about technical analysis, fancy indicators, and ultimate trading strategies. But still not consistently profitable. Chances are, you may not be successful in coming years also because you don’t know what it takes, to succeed in this business.
Now you are feeling exhausted. You have become so frustrated with your trading that you are ready to give up on trading completely. Hey, don’t worry you are not only one. For years I struggled as a trader, constantly looking for the "secret system" that would turn me into profitable. I spent lakhs of rupees on books, seminars, and trading courses. Then, I lost tens of lakh in the markets before I finally came to the realization that the answers to my trading problems were not external. I had no self-control. I put trading plans together that I never followed; made promises to myself I never kept. My trading days were spend hovering over a computer, hanging on every tick in the market praying it would move in my direction.
Did it happen with you also? Yes, but you are not admitting that something is not good with you, maybe you were not using the right method. But you want to totally give up hope. Have you thought ever, why market is running since so many years? Is it logical to think like everyone is losing money in the market? Read about successful traders, if you feel like no one is making money trading, you can simply go and read about very successful traders. There are many people who have already achieved great success in trading. George Soros invested $10 billion on a single currency trade when he shorted the British pound in September of 1992. He turned out to be right, and in a single day the trade generated a profit of $1 billion. He is famously known as the “the man who broke the Bank of England.

So maybe you're saying, "Ok, so tell me how to get success in trading. “First of all, let me share you a life changing quote from Bruce Lee....
What does it mean? To become a winner, you must have mastery of your strategy.
So, make these two changes and these changes will make you a profitable trader....
1. Develop a trade plan and system as per your trading style then
2.Back test your system listed in trade plan for 90 days.
1. Develop a trade plan and system as per your trading style.
Most new traders have absolutely no idea how to write a trading plan. They have no concept of how it should be laid out, so they spend their time looking for a “secret system”. Which is a huge mistake. Especially, in the beginning, it’s very important you spend time writing out a trading plan and trying to follow it with discipline. You have to stay accountable to your plan. If you break your trading plan rules you essentially are proving to yourself that you don’t have what it takes to be a trader.

2. Back test your system listed in trade plan for 90 days.
Any process or system must testable and repeatable. Back testing builds confidence in your system. This is your responsibility to test working and repeatability of trading strategy which you have listed in trade plan. Do this simple disciplined exercise for at least 90 days before getting into real world trading.

• Decide which time frame is you are going to trade, say for example hourly chart.
• Decide the stock or index you are going to trade, say for example NIFTY future.
• Choose one strategy listed in your trade plan
• Take print out of hourly chart of NIFTY every day when market is closed.
• Mark your entry and exit on chart as per chosen strategy
• Do this exercise continuously for 90 days then evaluate performance of your strategy.
• If you listed strategy is not giving desired winning result, then reject it as poison.

If yours listed strategy is giving desired winning result, then congratulation! You are almost done and it’s time to go live again in real world of trading.

Hope this will help you. Wishing good trading………………………………