Learn Stock Market  RSI Relative Strength Index

Learn Stock Market RSI Relative Strength Index

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Stock Market Trading For Beginners Principles Of Success Of Rich Traders: Everything you need to success in stock market trading right from deciding your goal in trading career, learning the skill of professional traders, how to use stop loss, making your trading plan, how to use risk reward ratio for optimum results. How to use stop loss, where to put stop loss, when to add to your position, position sizing, money management, trading psychology for success in trading, how to develop professional trading attitude.

In this video you will learn the real professional approach to trading.
We will discuss here the attitude of top 5% successful traders in the world.

I have designed this video in steps which required to be followed to develop professional trading approach and it will also helpful for preparing your trading plan.

Decide what you want to achieve from trading:
Most of the time there will be only one answer and that is to make money.
Of course, everyone want to make money from trading.
But how much money and in what time limit you want to make.
This specific goal will keep you focused in trading.

Most people don’t have specific reasons for trading.
They have excess of income which they want to invest in something so at last it is the stock market.
Or they have monotonous lifestyle and they want some thrill in life with trading.
Or they have gambling instinct which they satisfy in trading.
Or they want to be quick rich.
These are not valid reason that is why they won’t achieve much by trading.
So by keeping yourself focused on your ultimate goal you save yourself from this traps.

Treat trading as a business or a profession:
Though you won’t have customers but still trading is business.
You will need to gain proper knowledge before you start.
People spend huge money and time to get a graduate, engineering or medical degree.
Then they work as an apprentice for 2-3 years before they got paid, and still it is not guaranteed.
But when they come to trading they don’t want to spend any money or time for proper training, and still they expect millions.
You will need some capital depending upon your goal.
There are people who want to make 10 million from an investment of one thousand in a year or two.
As in every business there is risk of capital and so is with the trading.
So don’t put more capital then you can afford to lose without hurting your lifestyle.
You also have to change your employee attitude.
Income in business are not constant like salary.
You can’t profit every time, you will have to learn to lose.

Trading is a skill:
To develop any skill there are three basic steps which are getting knowledge, training and practise.
Trading is same as learning any other skill.
For example take cycling, you can’t learn cycling without taking the risk of falling.
You will often fall while you are learning.
You can manage injury by using safety tools, keeping your speed low, practising in the open ground.
And you can reduce your risk while you learn trading.
You can paper trade, or reduce your trading capital and position size per trade.
To be successful trader you have to cultivate an automatic subconscious response to various market conditions.
Instead of developing their trading skill most people rely on others like some tip or call providers, broker recommendation, penny stock tips or many service like that.
Most of them are fraud.
Some of them have a legal licence so they can legally loose your trading capital.
So you not only lose your subscription fees but also your trading capital and time.

You need a written trading plan:
As jobs have job description and businesses have business plans.
Trading needs a trading plan.
A trading plan should have answers to the basic question like.
How much will be your total risk capital?
When you will increase or decrease your risk capital?
What is the frequency of your trading?
How much percentage of trading capital you will risk per trade?
What is your preferable risk/reward ratio?
When you will enter in a trade?
When you will exit a trade?
When you won’t trade?
How you will record your trade?
When will you take home your profits?

Most people don’t have any written trading plan, they just trade on hunch.
They don’t decide their risk per trade or even the target.
People keep on adding to a losing position, when actually they need to cut short their position.
People add their profit to their risk capital to earn cumulative return and ultimately lose all profit in one bad trade.

So the lesson is do not trade without a written trading plan.

You need to have an edge:
_________________________________________________________________You Can Contact The Author At:

http://www.nascenttraders.com

https://www.facebook.com/rakesh.nascent

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