importance of edge

Having an edge is important!

Im not downplaying that

But at a certain point all the TA, all this shiny stuff becomes a mask it becomes overkill

Just like the alcoholic who drinks to escape his problems

You put a bunch of pretty shit on your chart to try to escape uncertainty  

It's a fools mission

But most of you are not ready to have that talk

For many preserving the ego is more important than making money 

Until you work on what's between your ears you will never get the results you desire so much

You will remain a chartist and die only a chartist 

Do the inner work and quit running from yourself

Important Points on Trading Pyscology, you should always keep in mind

Trading psychology+--- 

Trading psychology is the most essential part of the trading

How you think during trade and before taking it 

It matters the most 

Your trading style should match your psychology

Your risk management covered by this 

No matter how much time you spend on Trading and you have knowledge but your emotions cloud your decision making and then ended up losing

To be a successful trader , you need to Recognise your emotional biases like greed, fear,hope,euphoria,panic and keep them in check 

The lot of traders trying to time the market 

And getting stuck in a situation where they have to book huge losses

A successful trader who knows once he entered a trade, he does not have any control over its outcomes. Instead of worrying about gain or loss, he works hard on fine-tuning his trading strategy

Here are some ways to improve your psychology

1.Avoid Overconfidence

Overconfidence in your trading knowledge may give you false belief that your views and decisions are always right. A Successful trader is careful not to fall into this trap of his own biases, opinions and market views 

Instead he writes everything about his trades -loss , profits, trends , decisions it helps them to take the record and doing better trading

And helps to trade Mindfully in future that improves performance and profitability

2.Learn from Mistakes- 

A Trader may work as per his Own Pyscology Of trading but the stock Market can prove him right or wrong in a matter of minutes. 

Have the ability to accept defeat 

And use this as an advantage to learn from this 

3. Balance trading risks - 

 It's very normal to take entries in stocks when there is none or taking trades based on other people's advice , not having a system 

 

A successful trader knows that capital protection is very much important and it should be a priority for maximum profitabilty 

4.Not putting a stoploss and rather trading on your institution is the another mistake that people made during trades 

Balancing trades from risk perspectives and being disciplined with your system are the necessary steps 

People who are serious about trading should read this

People who are serious about trading should read this 

Well you are putting so much time and money into this thing 

Trading where one person loses one person gains 

We heard this "Money goes from impatient to the person who has patience"

It's very important to know which business you are in otherwise you ended up losing your sleep and money 

Here are some important lessons that I learned 

1. Know the Risk , if you understand the risk then you will trade or invest accordingly

2. Find out what works for you , some people trade cash , some trade F&O and some are scalpers only but those who know max. Risk and take care of it will survive 

And when I say survive I mean it. survival is important in this business

3. Have a system which gives you An Edge 

 A mechanical system or a technique which is backtested and where you can trust the process

Where on a losing trading day you don't lose your mind but money only 

4. Strong mindset -A mindset where you can keep this thing aside 

Trading looks easy money to people and it is actually

But one mistake can make you out of the game

No matter how good you play in practice match 

Ultimately How you perform in the World cup will matter 

5. Have Mentors or group of people who can help you to shorten the learning curve and understand your approach towards trading 

You can add more in this below 👇👇

 

TIPS TO TRADE COMMODITIES

 

• Don't buy the hype. To make money, you must buy low and sell high. In the commodity market, however, people get excited when prices are high and scared when prices drop. If you buy the hype, you will end up buying high and selling low and will surely lose money. Instead, think of higher prices or lower prices as either buying or selling opportunities, depending on your position and the nature of the asset.
• Don’t try commodities trading if you’re a novice or don’t have a lot of money to work with. Buying commodities is extremely risky. Therefore, you want to make sure you’re willing to take this risk.

How to make Money in Commodity

 Making money in commodities can be challenging but also rewarding if approached with the right knowledge and strategy. Here are some general steps to help you get started:

 

 Choose a Commodity: Focus on a specific commodity or a group of related commodities that interest you and align with your knowledge and expertise. It's essential to have a deep understanding of the factors affecting that particular market.

 

 Research and Analysis: Stay updated with the latest news, industry reports, and market analysis related to your chosen commodity. Look for patterns, trends, and indicators that may influence prices. Fundamental analysis (supply and demand dynamics, weather conditions, political events) and technical analysis (charts, indicators) can be valuable tools for making informed trading decisions

Choose a Trading Strategy: Determine your trading approach based on your risk tolerance, time commitment, and market conditions. Common trading strategies include trend following, range trading, breakout trading, and spread trading. Develop a trading plan that outlines your entry and exit points, risk management techniques, and position size

Continuously Learn and Adapt: Commodity markets are dynamic and subject to various influences. Stay updated with market developments, learn from your trades, and adapt your strategies as needed. Maintain discipline and emotional control to avoid making impulsive trading decisions.

have one on one call to impove your trading in commodity

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22 th may view on #gold #silver

18 th may view on Gold & Silver

Gold 

Major zone for recovery 1950$ and 1965-70$ 

Weakness will be continued for 1950 if 1970$ break 

In mcx major support 59730 

60000 achieved now  

In silver MCX 23.2$ at current support 

And final also 

If break this too then 22.19$ can be possible downside 

Avoid long side entry and if stuck hold them 

At time of recovery average it out 

Imp. DATAS 

Initial jobless claims at 6pm 

Existing home sales at 7:30