Dear All,
Can you think of becoming Doctor in 2 Days , Then why people think that they can become trader in 2 Days ???.
Trading like any other Professions require Following steps to Succeed
1. Training : Have you seen any body becoming doctor / engineer / lawyer in 2 days forget about being sucssecful , the answer is no
Doctors go through rigirous Training , MBBS - 5 years + M.S. -- 2 Yrs , then they practise in some hospital for 2-3 Years and then they stand on there own . Total Min yrs Spent on learning or Training 10 Yrs .
Lawyers complete LLB in 5 Yrs & After practising for atleast min 5 yrs can think of starting on their own . Min ysr spent on learning or Training 10 Yrs.
Professional Players spent hours & hours on training , Tiger Woods used to have training schedule of 12 Hours per days , Our Great Sachin tendulkar Used to train min 6--8 Hours Daily on Nets .
Remember Your are Competing with one of the best & sharpest Mind in the world of Trading , You dont have slimest of chance if you are not prepared well.
Becoming a Professional Trader require rigirous amount of training , which most people dont do and then they loose there money in Market .
2. Planning : Doctors have a set guide lines / Dignosis which they follow in treatment of people / same applies to professional athelets , they plan there innings or game and then tacticaly execute them on field .
As a Trader have you ever plan your trades or Have gone through these question before taking Trades
1.Why Trading ......... Have you ever asked yourself why you want to trade ??
2. Your Style of Trading .... Positional / Swing / Intra day ??
3.What's your Edge in Trading ???
4.How much time you devote In studying Markets ??
5.Have you define which markets will you trade ???
6.On what basis you decide to enter into a trade ???
7.Exit criteria ??
8. Money Management rules ??
9. Position sizing ???
10. Are you having a Written Trading Plan ??
You need to Plan your Business of Trading else chances of success are almost Nil .
3. Discpline : Doctors / Lawyers / Professional Athelets / Engineers they follow discpline in these profession , same applies to Trader's Also . Displine to follow your Trading plan make the diffrence between a Professional Trader or Amatuer Trader .
The moral of the Story is you need intense Training / Planning / Discpline to be come a Profitable Trader ...........else you will kepp loosing money .
Thanks & Regards
Abhay Mehrotra
M :9873511276
