Trading is often considered as an art by various successful traders. It is a platform where one can be rich and one can be poor. It just depends on the thinking, planning, and strategy of the trader that how he is making every opportunity every minute count. In Indian Share market, whether you trade in equity, commodity or any other segment, there are certain disciplines, which needs to be followed. Following those disciplines means to follow your trading system protocols strictly and precisely. Over 80% of the new Indian traders lose their invested capital just because they don’t have a proper idea about how to invest in share market and the greed to earn more in very less time.
These new traders fail because they have no discipline. This article will cover the discipline of stock market trading.
Stock Trading Discipline List
1. Decision Making: The share market trading needs proper decision making to make your capital grow and your time worthy. Knowing when to trade and when not to is crucial. For better decision making you need to be aware of the events and latest news going on in the market. Which will make you think to buy a particular share or a commodity.
2. Trade Intraday: Almost every successful trader suggest to trade intraday. The profit may seem small most of the time but it is always an addition to your capital which makes it big later on. Diversification just becomes easy when you trade intraday. The chances of you snatching the profit from the market are higher when you trade intraday. Have a strategy, follow price pattern and you should use short-term trading judgment.
3. Take Risks: Traders often thinks that investing through some innovation or with some unique techniques would bring failure. It is totally ok if you fail once, make your investment small if you think the technique you are implementing wouldn’t work. Always try to play defensive with new strategies. And if you succeed, the experiment would be fruitful to not only you but to other traders also.
4. Invest in Commodities: If you have just gained enough capital from the market, then try to invest that in commodities. The commodities may involve risks but fetch you even a greater profit. However, the risk can also be reduced to very less with proper MCX tips and other general trading methods. The scope of commodity trading is increasing day by day due to the awareness about the opportunities a commodity market investment can bring.
5. Follow The successful traders: A traders who are new to the market must ensure that he is inspired by a successful trader. Traders like Warren Buffet have made great capital and name through the market. By following their footsteps, it would be an even easier task to be like them.
The vast majority of traders fail to tap their full potential, eventually cashing in their chips and finding more traditional ways to make money. Become a proud member of the professional community of traders by following classic rules designed to keep a razor-sharp focus on profitability.