Query : What type of mind set needed to become a trader? Answer : Trading/investing is not for faint of heart. It is not for everyone. We have plenty of chances to make money, and there is also plenty of chances to lose money in share market. To make money one should learn technical analysis, form a trading strategy, trading rules, stick to the plan and execute it well. There is no 100% right strategy or trading rules. But with the help of stoploss and trial stop we can protect our profit. And other important thing a person need is necessity to trade or love for trading. Neccessity makes a person to work hard to achieve what they want. And the emotion "love for trading" makes you to become the price action itself.
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Next week's topic is "how long it will take to become a trader?"
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Thought from a friend, "People don't understand that when they start a business, income doesnt start from day 1... it almost take a year or so to get back the invested money.Why people don't co-relate trading with business ?? Market is not here to give us easy money...
