Booking reliable profits in the financial markets is harder than it looks at first glance. In fact it's estimated that more than 80 percent of all participants eventually wash out and take up safer hobbies. But the brokerage industry rarely publishes client failure rates, since they're concerned the truth might scare off new accounts, so the washout rate could be much higher.TEH : Read the above ... the WHOLE media is telling you how easy to profit and earn money from stock-trading. ARE YOU KIDDING ME? But again ... so many new ignorant REALLY believe so. If they telling you that 80% of them out there are losing money, will you move into stock-market in the first place? Now, many are talking about 100% they gained from those penny-stocks ... such as Wintoni, Eduspec, Ifca ... even, Sumatec and such.
Media ... remisiers/dealers ... investment banks ... Bursa ...
Long-term profitability requires two interrelated skill sets. First, we need strategies that make more money than they lose. Second, those strategies must perform well while the market shape shifts through bull and bear impulses, with plenty of choppy periods in between. While many traders know how to make money in specific market conditions, like a strong uptrend, they fail in the long run because their strategies don't adapt to inevitable change.
TEH : This is consistency I m talking about with my trading-group. We want a system which work consistently ... reliable. Not those one moment up, next is down ... also don't know what is going on!!
So can you break away from the pack and join the professional minority with an approach that raises your odds for long term prosperity? Start with a clear and concise plan.Now, internalize these 20 rules that long-time pros use to stay in the winner's circle.
TEH : So many greedy newbies in market ... they will disappear in matter of time. Believe it, these are lazy people who wish to find sure-win tips.
1.
Follow Your Discipline -
Discipline can't be taught in a seminar or found in expensive trading software. Traders spend thousands of dollars trying to compensate for their lack of self-control but few realize that a long look in the mirror accomplishes the same task at a much cheaper price!
TEH : Simply put ... without discipline, NO ONE could be carried out.
2.
Lose the crowd -
Long term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that's where predatory strategies target. Stay away from stock boards and chat rooms. This is serious business and everyone in those places has an ulterior motive. TEH : Generally, be a contrarian. Do not do what others doing. 80% losers out there, in order to stand-out ... we need to move OUT of that loser-group. So, I do stay out of forums(i3, investlah, chartnexus, cari and such) and chat-rooms(FB, watsapp, telegram). I m only focusing in my own trades and communicating with my trading group. Nothing else, please. Of coz I do realize that only 20% of those reading this message agree and will do just that ...
3.
Engage your trading plan -
Update your trading plan weekly or monthly to include new ideas and eliminate bad ones. Go back and read the plan whenever you fall in a hole and are looking for a way to get out.TEH : I do check my trading plan in daily basis but have a week-ly trading plan ahead. Then, I will analyse why I lose the trades (FEB score is 26-14 which is not as good).
17 rules to go ... might write in
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TEH