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If you are a new trader you must be struggling as a stock trader to make profitable trades. This article will give you 10 good tips to make your trading career successful.
In short, three things are very important to be a successful trader:
1. 100% Control over Greed and Fear,
2. Proper Planning in Trades, and
3. Proper Risk and Financial Management of Your Portfolio.
Without control over the above-written points, it’s almost impossible to become a good trader. Treat your trading career as a job.
Here are some more important tips to become a successful trader:
4. Focusing is Important:
Like an eagle, you must be focused on all your trades. This is the reason you should take a maximum of three strategies at any given time frame. If anything is more than three, you will lose focus. For example, if in one strategy there are three-four trades interlinked to each other – the total trades become more than 9 or 10. Anything more than that will be hard to manage.
Record all your trades, then narrow down to the ones that work best for you.
5. Use Moving Averages:
For most of my trade setups, I use moving averages. I am a very SIMPLE TRADER so I go for Simple Moving Averages. A Simple Moving Average (SMA) is an arithmetic moving average calculated by adding the closing price of the security for several periods and then dividing this total by the number of periods.
I look for a 20-day SMA which is good for short-term targets, and 50 day SMA which is good for long-term targets. On top of that, I do proper financial management also. For example how much to invest for a particular trade/investment. Some take a larger portion, some smaller, and some average depending on what my research concluded.
The above combined simplifies my profit and losses. For example, say if I take a very small risk in stock and am willing to exit in profit only, then my maximum holding period is 6 months. But if the risk is large, then, of course, I keep a strict stop loss and when profits come I keep a trailing profit booking system to maximize the profits.
It’s VERY HARD to describe exactly what I do else I would have made a course on lots of things to make money from stock markets.
Now what I will say you won’t believe – for me making money from stock markets is now VERY EASY. I fail to believe why 99% of traders lose money when there are some very easy ways to make money. I feel strange that why I also lost money when I started trading. It looks small but that 7 lakhs were 95% of my total net worth. 🙁 To survive I had to take a personal loan of 1 lakh.
Anyway, it’s now easy for me to make money from the stock markets. One of the easiest of them is already in my option course. In the course you will learn hedging options with options, hedging future with options and hedging equities with options. As far as hedging is concerned my course will teach you all the best ways to hedge Options, Futures and Equities making sure if you follow you will make small profits consistently, losses if ever be very small due to hedging.
I also invest and trade mutual funds, invest in short-term stocks & long-term stocks with different risk management. There are so many ways to make money from the stock markets but it’s very hard to teach all of them to all of the people, so I have just limited it to my course. By doing it at least you will also start making profits. Making profits is more important than losing money – how much ever the profits do not matter. If profits are consistent, you can compound and make huge money over time.
6. Study Different Time Frames:
Especially if you are an Intraday day trader you need to study different time frames. Some stocks perform better on 5 minutes charts, some on 30 minutes and some on hourly charts. For volatile charts, 5 minutes is better, and for slow movers, a longer time frame needs to be studied.
Daily chart patterns are the best way to analyze a stock move because it tells the bigger picture.
7. Learn to Manage Your Risk:
I have said this earlier and repeated it. Different trades need different setups and risks involved. Risk does not just mean the stop loss but it also means what percentage of your portfolio you are going to invest in a trade.
Remember that no strategy is a guaranteed winner – the risk is involved, so you have to decide how much to risk.
Proper risk management means sticking to stop losses, sticking to targets, and risking a small portion of your account on every trade. If you are a new trader it’s better not to risk more than 5% on a single trade of your portfolio.
With proper risk management rules, you can be right half the time and still make money trading.
8. Keep a Good Trading Plan:
Your trading plan should come with a reason. Before taking a trade ask yourself – what makes you take this trade? If the answer you give to yourself satisfies you then take the trade. If the answer is because a tip provider said so, or a broker said so, then do not trade.
Your trading plan must have a solid reason.
9. Your Mental Capital & Mental Health, Are Important:
Your mental capital is as important as the capital in your trading account. By mental capital, I mean control over your emotions – fear and greed and any other emotion that can destroy your trading plan.
Losing your focus means losing money.
An easy way to waste your mental capital is revenge trading. DO NOT TRADE TO TAKE REVENGE ON STOCK MARKETS. Stock markets do not know or even Warren Buffet – so why do revenge trading? The stock market is a non-living thing. If you trade to take revenge on stock markets you will destroy yourself, not the stock markets.
10. It Is Good To Have A Mentor For Help In Trade Set-Ups:
If you are a new or even experienced trader and losing money trading, it is better to get a mentor. Trading by yourself can be challenging and it will increase your time taken to learn good strategies. Finding a trading mentor is essential for your trading success. If you can get a mentor you will avoid trading mistakes yourself and save a lot of money that you can lose by speculative trading. You can learn from your mentor’s experience without suffering yourself. Finding a good mentor will save you years of suffering and lakhs of rupees wasted on researching yourself.
I hope this email will help you a lot in becoming a better trader.
P.S: If you want to trade without too much stress and want to scale the trading profits, then you can do my conservative trading course for monthly income. After payment, you will receive files in your email to study and trade. These are well-explained strategies explained in a step-by-step manner, with examples like how to manage the trade etc.
The Course: Learn How To Trade Options Conservatively For Monthly Income – Based on Nifty Monthly & Weekly Options and Futures.
Here are 100+ Testimonials, the minimum required is 50,000/- and the Return On your Investments, will be over 36% a year!!!
My support will be there for one year on Call/WhatsApp/Email. Since the strategies are hedged you can trade with whatever amount you want (losses are limited to 1.5% of capital deployed). Approx returns will be 3-5% a month. The success rate is 70-80%. Will work in any market condition. Do not worry if you do not understand anything in the document, you can contact me to understand the strategies well.
Click here to pay the fee online. Start learning the strategies before your losses mount to many lakhs. After payment, I will send the strategies to your email. You can read and ask me questions to clear any doubts. You will get support on live trading as well for one year from the date of payment.
NOTE: These ZERO COST Discount Brokers DO NOT charge any fee to Buy and Sell Stocks. For F&O only 20 per order not per lot.
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INCOME DISCLAIMER: Any references in this site of income made by the traders are given to me by them either through Email or WhatsApp as a Thank You message. However, every trade depends on the trader and his level of risk-taking capability, knowledge and experience. Moreover, stock market investments and trading are subject to market risks. Therefore there is no guarantee that everyone will achieve the same or similar results. My aim is to make you a better & disciplined trader with the stock trading and investing education and strategies you get from this website.
DISCLAIMER: I am NOT an Investment Adviser (IA). I am an Authorized Person (AP) of a Stock Broker. I do not give tips or advisory services by SMS, Email, WhatsApp or any other forms of social media. I strictly adhere to the laws of my country. I only offer education for free on finance, risk management & investments in stock markets through the articles on this website. You must consult an authorized Investment Adviser (IA) or do thorough research before investing in any stock or derivative using any strategy given on this website. I am not responsible for any investment decision you take after reading an article on this website. Click here to read the disclaimer in full.
very well written summed all in a nut shell
Thank you Vijayveer
Read this just now and its really a fantastic tip which can help to save money, time and so many things.
Thanks a lot….
though we are not your paid client but thank u so much sir for sending us such as helpful emails . thora money problem hai now i am trying for a job after some day i will get salary then i will definitely do your course….. your course is a dream, is a necessity to me….
You should definitely do Dilip Sir’s course. Please do remember that some courses (conservative and aggressive Bank Nifty Options) are meant for intermediate level Traders and NOT for complete beginners. It is possible that beginner level traders may NOT understand the concepts easily because of lack of experience in trading. So please educate yourself before doing the course. Last year Dilip sir had also some kind of beginner level support, not sure if it is still there but you need to get the basics right before jumping into the courses.
About the Course: it is a GOLDMINE in my opinion. It doesnt matter where the markets are heading. If you learn and apply it on real trades, you will definitely make money and over period of time the compounding of your own money will be much much bigger than anything else.
Hope my testimonial helps (I have taken both courses and in short, its a GOLDMINE).
Thanks Ram for the Wonderful Testimonials.
Thank you so much sir for sharing your knowledge.