Trade With Success

Your future success as a trader is by no means guaranteed. By creating your own custom built trading approach…the odds of coming out a winner in Capital Markets, have shifted in your favour. Getting the odds in your favour does help in building wealth over a period of time.
Trading approach should have the following ingredients.

• Apply your trading knowledge, with an efficiency of a machine and an element of human intervention.
• Greed, hope and fear, the main enemies of successful trading should be thrown out of the traders system.
• A good trading approach will not allow for emotions of any kind.
• Prevent irrational trades. Make information based trade choices.
• Keep the approach to trading very simple.
• Maintain trading discipline.
• Trading success depends on the discipline a trader possesses.
• Trade what you see. Not what you think.
• Charts speak explicitly. Be a good listener. Trade with the trend.
• Never average against the trend.
• Average in the direction of the trend.
• Plan the trade in advance.
• A good plan will ensure that you trade like a machine
• Plan the trade and trade the plan. This could be an Intraday, Weekly, Monthly or an Investment. Whatever time frame you may choose to trade, in whichever asset class.
• Protect and preserve capital.
• Manage risk with efficiency.
• No matter what, always set a stop after placing a trade. Due consideration should be given to the risk reward ratio.
• Keep records of each and every trade.

This approach is adopted by all traders who are successful. If you want to be like the traders who have achieved great heights, you need to think and behave like them. Where the mind goes everything else follows.
Make your trading career a great one.

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