Priority No. 2 - Professionalism in Trading
Generally, There are some technical rumours around the market friends.
The rumours are :
1. Trader With Stop Loss ( I never put stop loss) - Can you believe it?
2. Dont average the losing position - But i average it. Can you believe it?
3. Trade with trend ... But I dont see the trend - Can you believe it?
Then, what is working in market? How to make the profit? Ya, I got the solution first. Later, I planned my trading.
First of all , I assumed, If i am an offline commodity trader with physical quantity, How did i make the profit? I applied the same concept in online market. I gained reasonable money without any risk. Let me share some inputs.
In offline physical trading, If you bought the product for 100, Will you sell it for 95? will you sell in Loss?
If price comes to 80, What will you do? You should hold the 100 without selling and again should buy at 80. This is the basic trading plan done in the physical market. But why cant it be applied in online commodity market?
The basic reason is money.
Somone starts with 10000, 50000, 75000, 1 Lakh. One time investment only. Most of the indian traders are not able to invest money continously. So they trade with stop loss and fear.
I say, It does not matter. You choose the product depending on the money in your account.
Simply said, I am maintaining Professionalism in Trading by comparing every trade like physical commodity business. That is why i am able to exist in this market for the long periods.
Somebody may not agree with above points, Everyone has different trading plan. But, I share here what works in this market for me.
Let me share other points one by one.