1️⃣ Be process oriented. Trading is a business & your trading system is a business model.
The output is money which comes automatically when your system works right. Focus on the right execution of your system! You can Remove the P/L from your screen
2️⃣ Be careful with the information you consume. Everything we read, watch and listen to can have an influence on our mind. Only consume media which is helpful – avoid everything else. Ignore trader hero movies, hypes and popular bestseller books … Be selective!
3️⃣ Reflect your thoughts. You must be a constant listener of your own thoughts and analyze them in real-time. Was the thought helpful? What does it mean? Write is down if it helps you! Talk to yourself loud and reflect your thoughts if it helps you, but listen to your thoughts.
4️⃣ Repetition leads to mastery. If you want to change a behavior or your thinking, repeat the new behavior for at least 90 days. Track the progress and how you stick to the new behavior every day. Use checklists!
5️⃣ It's ok to leave the desk. If you catch yourself in a stressful moment, stand up and walk away. You must interrupt the current situation, get a fresh mind and come back to the screens. You can't make good decisions under pressure and when emotions take over.
6️⃣ Time management is important. Trading routines must have clear steps and should be time-boxed. Sitting in front of the screen and watching the prices go up or down leads to over-trading and bad decisions. Stop with that! Do your work, follow your plan and then walk away.
7️⃣ Separate execution of trades from analysis. You should have a deliberate hurdle between planning a trade and execute it. If you have the buy / sell button visible all the time, you will click it too often and too fast. Remove it and put it in an extra window. #tradingtips
8️⃣ Spend your time with the right things. Too many traders are focused on the wrong things like the newest indicators, lowest fees or avoiding taxes … Instead spend your time with things like working on your mindset or improving your risk management. #trading
9️⃣ Have realistic expectations. Becoming a trader needs time and money! You have to give up other activities, focus on your trading and accept to pay tuition in the form of losses. That's what will dominate the first years … Everything else is wishful thinking.
1️⃣0️⃣ Learn more about yourself. The perfect trader = System fitted to the strengths of a trader. Without knowing what you like, what feels natural and your personal strengths, it will be hard to create a successful trading system. So spend time to know yourself.
-Julian Komar
• • •
Missing some Tweet in this thread? You can try to
force a refresh
The highest bull markets in any nation happen when the economy moves from 2 Trillion to 5 Trillion.
1) China took 5 years to go from 2 Trillion to 5 Trillion (2004-2009) – During this time the Hangsang went from 8500 to 32000 – A 4 times gain.
USA took 11 years to go from 2 Trillion to 5 Trillion (1977-1988) – Dow Jones between 1977 to 2000 went from 700 levels to 12000 – Gain of 15 times.
Japan took 8.5 years to go from 2 to 5 Trillion (1978-1986) – Japanese stock market between 1978-1991 went from 2000 to 37000.
So historically the mother of all bull markets in any nation starts between 2 Trillion to 5 Trillion!
4) India and the Indian economy is just getting started. The next 5 to 6 years are extremely important for the Indian economy.
The writer was director, Tata Sons and vice chairman, Hindustan Unilever during his career
The disconnect between the fundamentals of several companies and their market valuations has widened over the last year.
While this exuberance may well prove to be justified for a few companies, for most, it will be judged to have been thoroughly misplaced.
Disruption is to be welcomed, it is a fantastic event. As history shows, the line between disruption and mania is thin—
remember Tulipomania (1636), the Mississippi Scheme (1719), and the South Sea bubble (1720). Nick Leeson’s last few trades brought the mighty Barings Bank down. Gordon Gekko could not imagine his protégé, Bud Fox, double-crossing him.
IMP Note for #ITC
“Committee is of the opinion that the FDI in tobacco sector albeit in a regulated manner would stimulate the production and processing of Indian tobacco thereby boosting its export.
Rerating Trigger ?
The Committee, therefore, recommends the Department to undertake a study to analyse the prospects of opening FDI investments in the tobacco sector at the earliest,” the report states.
Currently, FDI is prohibited in manufacturing of cigars, cigarettes and tobacco substitutes.
Quality tobacco at par with international standards is available in India at competitive prices and there is good potential for export of Indian tobacco to China. The revival of the phytosanitary protocol with
1. *Uday Kotak on FT Live today.* *_Key points:*_ 2. We are somewhere closer to the Investment cycle 3. Private Investment will go up either in 2022 or early 2023 4. Supply constraints and sustained demand pickup will propel New Investment Cycle @udaykotak#banknifty
5. We have now greater clarity on how Covid19 will do for the past 15 months and even if it is going to be there for a while, we have now ways to meet with it. 6. India fared much better than countries like NZ, Singapore on dealing with 2.0 wave
7. Credit Pickup will happen because the stressed sectors are already taken care of by emergency measures and PLI measures and other relief measures. So Financial Sector will have brighter days.