This year, my trading income crossed ₹3CR in profits. It t…

1/ Learn Price Action

First of all, you need to focus on learning about price action.

If you do so, you'll be able to understand the big player's footprints better which is critical to know as we can side with them to make profit.

Better to be with them than against them.

2/ Journal your trades

Journaling will change your trading forever.

Why? Because you will precisely know where you are going wrong and whether you keep repeating the same mistakes.

You'll also know in which market you perform the best and in which type of markets you don't.

3/ Avoid losing more than 2% on a trade

I have seen many traders including the really good ones as well, where one big loss will spoil a month or two of their trading year.

The loss becomes so big to overcome that more mistakes are made.

So don't go in a big loss itself.

4/ Think only from a buyer vs seller point of view

You should know who is in control, a buyer or a seller not in options but in futures.

Also understand, at which points do these traders usually tend to give up.

Can take trades confidently and aggressively then.

5/ Trade Bank Nifty only

In my opinion, the best traders are trading in Bank Nifty and not in Nifty.

It is more volatile which means bigger moves and if you can catch these, usually means bigger profits as well.

Also, scope for adjustments is higher in BNF.

6/ Backtest your logics

Before trading with money on some logic and simply losing in case it isn't working, try backtesting to generate confidence.

With data, you'll be trading confidently and accurately.

You can create multiple setups to guide you as well in weekly expiry.

7/ Reduce quantities when losing

All traders who go bust keep the quantity the same or increase it when they lose money, this is the worst quality I have observed in bad traders.

You can always go into bigger losses, so reduce the qty when you lose and recover from there.

TLDR version

• Learn Price Action
• Journal your trades
• Avoid losing more than 2% on a trade
• Think only from a buyer vs seller point of view
• Trade Bank Nifty only
• Backtest your logics
• Reduce quantities when losing

Try this for 6 months and let me know!

We are finally on Youtube!!

We have a free Youtube Channel where we cover our analysis of the markets.

If interested feel free to join using this link: https://t.co/nn32SaAej5

We also have a free telegram channel.

Link to join: https://t.co/bE4fyLgxv2

That's a wrap!

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