Trading Mentor is a must for successful trader

All successful traders have Trading Mentor or Gurus

Here’s How to Achieve the Trading Results You Want with help of a Trading Mentor and determine whether you are suited to trading. Your chances for success as a trader are maximized, if you exhibit most, if not all, of the following characteristics. Take this simple test to see if you have what it takes to win the trading game.

trading mentor

Do you Yes No
1. Have a burning desire to trade?
2. Easily take action, once you have made a decision?
3. Have sufficient risk capital (money you don’t need to live on)?
4. Possess a strong self-discipline?
5. Have a strong sense of self-confidence?
6. Have a winning and tested trading strategy?
7. Finish what you start?

The results are at the bottom of the post.

Q. Why do so many traders fail?

A. Because they do not have adequate trading capital and the fear of loss is insurmountable. Secondly, they have no experience and thus make poor decisions based on inadequate information.

B. No Trading mentor. When you work with a professional trader as your mentor you will quickly: Gain Years of Experience in a Fraction of the Time. 

  • Receive training and advice specific to your needs
  • Recognize problem areas and eliminate self-defeating practices
  • Understand the importance of your self-talk
  • Understand different indicators and when to use them
  • Learn important strategies to determine low-risk opportunities
  • Understand specifics of indicators such as Bollinger Bands, RSI, ADX and many others
  • Develop a trading style that suits your personality
  • Explore the finer points of charting software
  • Receive personalized trading lessons based on your trading goals

 

Your Trading Profits Will Improve When You:

  • Trade first hand with real money
  • Develop a winning formula
  • Learn to trust your trading strategies by making winning trades
  • Develop the expectation of a positive outcome

The Majority of Traders is Making Losing Trades – You Don’t Have to Be One of Them. You’ll Greatly Increase Your Odds By…

  • Training with a private trading mentor.
  • Developing trading strategies that suit your style and personality.
  • Experiencing trading success first hand.
  • Fine tuning your trading plan.
  • Determining your trading goals.

 

Q. How can I accelerate the learning process and at the same time minimize the drawdowns?

A. By working with a Mentor, one-on-one, your mentor can guide you away from losing trades by pointing out strong indications that may dissuade you from making the trade in the first place. Hence, you do not lose money, yet you gain valuable experience. This played out over the course of a few months, can save the average trader many thousands of dollars and provide an experience level usually only gained after years of trading mistakes.

Q. Can a trading mentor help me avoid losses?

A. Yes, by working with you to develop strong trading strategies you can trust. Your inner belief system will not allow you to take action if you strongly believe it will cause you pain. Losing trades equate with pain in your subconscious mind, and you must develop a way to winning trades to prove themselves. It is imperative that a trader has faith in their trading system.

Q. What stops most traders from making progress?

A. The complete loss of their trading capital through trading without adequate knowledge or experience, usually causes traders to be forced to wait on the sidelines until they are able to again build up sufficient capital to try again.

Q. What is the best way to develop trading experience and knowledge?

A. You’ll gain experience and knowledge by trading. Paper trading is a good start to learn the mechanics, but you must trade with real money to truly experience the realities of trading. A mentor can help enormously during this process.

What Can A Trading Mentor Do For Me?

  • Introduce you to unfamiliar indicators and techniques
  • Help you make winning trades while avoiding losing trades
  • Make certain you fully understand a new indicator or trading method and answer all your questions
  • Discuss trading ideas without a vested interest in whether you place a trade or not (unlike your broker)
  • Point out trade possibilities
  • Provide a detailed analysis, including charts and full instructions to enable you to utilize the methods taught
  • Teach you to trade independently and confidently

Do you want to better understand the markets you trade?

Do you want to take your trading to the next level?

You will save Millions of bucks by Simply Not Taking A Few Losing Trades

Practice is necessary for any skill you want to master. A professional sports star does not just one day decide to pick up a football and go out for the pros. Rather, it is after many years of consistent and diligent practice that one is good enough to even try out for the team.

A coach can reduce the time needed to learn a new skill by pointing out errors and introducing you to techniques you might not have considered. A mentor can keep you on track. A coach will get you to pull yourself back up after a bad hit, and encourage you to get back in the game.

Are You PREPARED to ELEVATE Your Trading to the UPPER Level?
  • Do you want to hear training and advice specific to your needs, right now?
  • Do you want to feel more confident in your trading skills?
  • Are you interested in seeing what individually designed trading lessons can do for you?
  • Would you like to see your trading style become more fully developed?

The TechnicalCall.com Trading Mentor Can Help You Become a Better Trader and accelerate the process. We are very serious about trading and will work only with people who truly want (and expect) to succeed as traders.

If you believe you are ready to take your trading to the next level, Just drop an email or contact thru our social media accounts.

Check the results of the above Quiz:

Count Yes Answers Chances for Success
If your score is    Your rating is
1-2 = Poor
3-4 = Fair
5-6 = Good
7 = Excellent!

Day trading suitable for you?

Day trading! Are you ready?

Day trading

People often say that stock securities are a waiting game. So one can only imagine the risks involved when people involved in day trading try to accomplish the buying and selling of securities all in a single trading day. In fact, this venture is so risky that some people even refer to it as gambling.

Even the provisionary beginner’s luck is hard to come by when it comes to day trading. It takes some careful planning to earn positive dividends in this undertaking. If all goes well, one can leave his or her day job to earn loads of money in day trading. But it involves a strong and persistent approach to trading.
The positives here include the ability to close a deal within a single day, thereby eliminating further overnight risks. This is no laughing matter as huge profits can evaporate in an overnight. Also, there are no surefire secrets, just indicators of market trends.

Day trading! Perhaps, there is nothing more exciting than trading stocks for a living. If you are a typical 5-9 job goes.

  • You really hate it when your boss tells you to work on this and that. You do not want to be a slave anymore, you would like to answer to nobody.
  • See no future at all in your typical boring day job. You will always be that little work bee whom everyone can assign work. You are at the bottom of the food chain.
  • You hate office politics. Some people can be your boss just because they are better at office politics than you. You are always the one that does all the dirty work and gets no credit.
  • What you do every day is more boring than flipping burgers.

If you become Day trader

  • All the above gripes will be gone.
  • You can profit in a bull market, a bear market or even a range-bound market.
  • The sky is the limit. If your system can bring home 3000 INR every day, then it will possibly bring home 50000 INR and more.

 

Before you get all excited about day trading, you will have to ask yourself one simple question. Why do 99.99% of the people around me have a boring day job?

Is it risky?

The answer is no. Intraday Trading is much safer than investing. You close all your positions before the market closes every day. Thus, you avoid the possibility of a gaping-up or a gaping down the next morning. If your risk control is very solid, day trading is not risky at all. That is also why most brokerage houses give you a 1:4 leverage buying power for day trading instead of 1:2 for overnight. Nevertheless, I never use margin.

Is it hard?

The answer is yes. The hardest part is your market psychology and discipline. It will take you a long time to master these 2 things. And I am sure that you will relapse after a few good trades. Intraday trading for a supplementary income is easier than for a living since you have no pressure to make the ends meet every month. Of course, if you have a consistent system to make a supplementary income, then you can easily transition to trading for a living.

One single most important thing is that there is absolutely no shortcut in trading. You will be a profitable day trader only after a tremendous amount of hard work.

Here are 10 preconditions I think you need to meet.

  1. You should be available from 9:30 AM to 4:00 PM.
  2. You should be realistic about your gains.
  3. You should know it will take you quite sometimes before you can be profitable.
  4. You should know it will take a lot of hard work.
  5. You do not depend on trading for your main income, which would put too much pressure on your performance.
  6. You should have at least 3 lakh disposable income. The more, the better!
  7. You should have a decent computer, a dual monitor setup and high-speed Internet.
  8. You should be optimistic and upbeat about your trading.
  9. You should have solid knowledge of technical analysis.
  10. You should know you will lose some money in the beginning, which is the tuition everyone has to pay. You are not an exception!

 

It is easy to get all your hardware ready. But it will take you a long time to be mentally ready. You will ride your emotional waves up and down for quite a long time.  I think the coolest part if you can make it, is that you do not have to answer to anyone.  Good Luck!

The Losing trader mindset

Losing Trader: Top 10 reasons

 

losing trader

1. Trading based on Hunch feel: Trading randomly based on tips, the Gut feeling is suicidal. You are relying on the luck. You enter and exit the position based on your hunch feeling.

2. Lack of back-testing of the new strategy and overconfidence on it: Imagine a doctor who has never done a surgery in his college life and you are his first surgery patient. I think you got my point :).

3. Unrealistic expectations: You think you can become a millionaire overnight or within a month. Yeah! Keep dreaming.

4. Not heard about ” Never keep your all eggs in a single basket”: Always keep backups.

5. Self-ego and over-smartness: This happens with everyone, Right? You believe that Heard on Street (HOS) SMS you received was only delivered to your cell phone and you should make full use of that insider information.

6. Prediction Baba: Prediction is so fascinating. We love to predict everything. In fact, it’s our favorite time-pass. We are super-humans and we can predict exact tops and bottoms, that too only with our gut feel.

7. Trading, like on a suicide mission: You believe in Do or Die. No half measures. Please, keep patience, markets are open for the lifetime.

8. Booked Profits too soon and Holding losing positions forever: You are too afraid to book losses. You can wait as there is no harm in it. It cannot go below zero.

9. Holding stocks from the same sector: you are too confident on a particular sector and do not believe in diversification.

.10. Trying different trading instruments without knowledge: One of the major reasons of some new traders losing money. They start trading in Futures and options, They are unaware of big risks and they quickly erode their Capital. So as a new to share market, Cash should be preferred. Mistakes like these can be very fatal. Read how a trader lost 24 lakh in 5 minutes.

If You do not want to be a losing trader, Just act opposite to the above points.

10 Ways to Lose money

10 Sure shot ways to lose your capital in the markets

 

1. Holding an under-diversified portfolio overnight.
Traders generally tend to sell their winning investments while keeping
Holding on to their losing trades.
This behavior is known generally as DISPOSITION EFFECT.

2. Trading a new strategy with real money before first practicing it.
Traders get excited and amazed by the idea of making fast money.
In turn losing their capital in hurry of making quick bucks.

3. Expecting too much too soon.
Traders generally come with a wrong mindset into trading.
They think of the market as a short-term gain machine or where they can make a fortune overnight. Trading needs patience. Continue reading “10 Ways to Lose money”

Let Profits grow

Let Profits grow

So much importance given to novice traders, these days stresses discipline. This is guaranteed that discipline will dictate our long-term success or lack of discipline will determine your short term failure when it comes to trading. There is the discipline to admit when one is wrong in a trade and take the corresponding action to close the position. There should be discipline to cut losses quickly. As well, one discipline should keep them from averaging down on positions when this is not one’s original game-plan. One discipline that fails to receive the same level of commentary as the ones we have mentioned; is the discipline to stay in a trade that is going ones way.

This is actually more of a difficult situation to quantify and more of a skill that takes the time to feel confident with. It sometimes involves years of trading and exposure to the markets to get that true feel. The common phrase is referred to as “ Letting One’s Profits grow.

Many new traders fail to feel confident enough in their trading ability and have yet to develop the patience that is needed to stay with trades and as a result are too quick to exit a position that still has profit potential. We will try to address this phenomenon and share some ideas and ways of perhaps picking ones exit points better when in profitable trades or at least present some ways of staying in profitable trades a bit longer. We all know the feeling of exiting a position and then instantly realizing we have exited too early as the stock continues its profitable path but we are no longer on board.

Some in the industry comment that as a trader you shouldn’t beat yourself up when you make money even though you have left money on the table. There is some truth to this as an inexperienced young trader, but as a trader matures one needs to be able to press or be aggressive with their trading when they are in the zone and capitalize on those occasions and times when things are going right. When looking at the absolute numbers, historical studies have shown that most traders are wrong more times than they are right.

Trading, however, is not about always being right it is about making money and preserving capital for the times when one is right. Remember, many professional traders are only right about 30% of their trades, but these trades are leveraged or squeezed to their full potential enough so to more than offset their more frequent manageable losses. So let’s move on to discuss the thought patterns and actions that can be used to aid us in staying with trades and becoming better traders. One relatively simple concept that we have talked about in the past in light of other trading strategies but one that applies here as well is that of scaling out of a position that is in one’s favor.

When being long 1000 shares we might sell 500 first and then sell the second 500 later. It is difficult to quantify, but ask any trader who has been around a while and they will tell you that often it’s not until they sell a position that they then realize it is going higher. The act of offering stock and seeing how long the order stays live as well as how the shares are filled tells one about how the stock is acting. For this somewhat mysterious reason, one can often be able to assess their position more objectively if they lighten up on their overall position by selling 50% or 30% or some initial percentage one as a trader is comfortable with.

Furthermore, it hopefully will by one a bit more time to see how other market forces are reacting and help to confirm exiting the position entirely or a least mentally adjusting ones stop price. Remember as well that as a trader, one should try to avoid using the price level of a stock as the sole determinant of when a position should be covered.

This is one element to the puzzle but one really needs to look at how a stock is acting. Traders like to buy stocks that are acting well and sell stocks that are acting poorly regardless of price level. The stock that you are long at 80 and is quickly trading at 81 may be going to 85, no one knows. One needs to compare the conditions surrounding the stock at 81 as they compared the stock at 80 when they initially got into the trade. If the conditions are relatively the same one may try to stay with the trade until they see a condition change.

Another Approach is for a trader to try to step outside themselves and their position and imagine they do not have a position on. From here the trader may ask, “ Would I go long from here?” “Is there a good risk reward scenario to be played at this point in time as if the past did not happen?” Realize that this thought process can be difficult for new traders and it is difficult for all traders to continually step outside themselves and to mentally assess a somewhat hypothetical situation.

Taking this a step further, however, one needs to realize that there is always a contra party to every trade and one should try to step into the shoes of the trader who potentially will be on the other side of the trade and look at the motivations and risk-reward equation that the contra side may be pieced together. For example, if one is long stock at 81 and the market is trading at 81 ¾ try to put yourself in the shoes of the trader who might be looking to short at 81 ¾. Does this trader have an upside stop loss point that they may be leaning on? Is there a technical level that the other side of the trade may be looking to get short against?

Can the other trader build a scenario of limited risk with greater reward? If your own answer is no or not very well then you may want to give the trade a bit more room to go. Perhaps one of the most critical elements that need to be in place before a trade is going to be able to let their profits grow is a traders confidence in themselves that they can set an exit point and stick to it. If a trader consistently finds himself “in the money “ on trades only to have trades come back through their initial entry point and then winds up losing money this can be extremely detrimental towards a traders ability to stay profitable Trades.

A trader becomes increasingly trigger happy at the slightest retracement of a winning trade because they mentally envision the potential for a losing trade before it even becomes one. When a trader trusts that he can exit a trade at his predetermined level, he can better focus on the trades that are happening in his favor. He can more objectively assess the “now” of the trade instead of addressing the “now” and the “later” of the trade at the same time. Finally letting profits grow involves patience. Patience comes through being around the markets consistently and realizing that there will always be another trade.

Good traders let their trades play out and they are not second-guessing lost opportunities that they think are happening around them. Good traders become comfortable letting trades go by when they cannot build a trade scenario they are used to. One must learn from their mistakes and not regret what has happened in the past, but always be looking to the future. Hopefully, this discussion has provoked some to see their trading in a slightly different light or has opened up for some avenues to explore their trading in a more constructive way.

Thank you and let your profits grow.