Disciplines Of A Successful Trader

Warren Buffet once said “Building wealth is a marathon, not a sprint” & since beginning of trading many novice traders tried their hands on trading but only a few succeeded. So what is it that’s required to become a Successful Trader?

Our financial correspondent today interviewed one of market’s prominent trader & investor who also have more than 37k follower on her social media handle. Her telegram channel A1Future Official is one of the most favored and followed channels by many traders in India. No other than Ms. Aadya took out her time today to discuss & reveal her secrets & strategies which makes her one of the most successful traders in today’s time. In our discussion she reveals her 7 Golden Trading Rules & Disciplines which she follows in her trading setup daily.

“Those days are gone when trading was considered as gambling. Now trading is emerging as a new vocation for many millennial, professionals and householders who are considering it as an additional source of revenue. There is a lot of hype of trading tools and techniques, but one needs to bear in mind that, Trading is one of the hardest ways to make easy money.” – Aadya M.

7 Trading Disciplines Everyone Should Follow

1. Everyone wants to go to heaven but no one wants to die.” Everyone has the will to win but far fewer have the will to prepare to win. Majority start trading with a casual mindset and that is a major cause of failure. So before we start to trade, it is essential to have enough want and motivation for it. Trading success comes from love and passion for the market and not by being a casual trader.

2. Having fixed income while starting to trade is very important. Fixed income can give surety to secure family responsibilities and manage financial obligations. Trading income can be very volatile in the beginning, so one cannot completely depend on it.

3. Play Defensive not Offensive. Before we think of Earning, we need to focus on Learning. Losing and being wrong are inevitable realities of trading, so in the initial stage it is very important to learn from our mistakes and gain the experience at minimal cost (loss).

4. If we try to learn from every single trade we do we are going to get better as time goes by. Learning from mistakes is the way to become a successful trader. Small, but continuous improvement in process leads to large cumulative impact on performance.

5. The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into trading. Learning to accept the risk is a trading skill – the most important skill we should learn

6. Market is not a magical wand that generates consistent and exponential returns. In fact, over expectations of returns lead to over trading which translates into erosion of capital. So have a realistic approach and expectation.

7. Very important....very short term and intraday trading require strong technical, analytical skill and good understanding of emotions which comes with experience. To gain that experience one needs to start with experts advice.