stock market

The Top 10 Mistakes Most New Traders Make

They trade first, educate themselves second. Read several books written by people that have made money in the markets. Research online about Rich Traders and their methods. Follow the twitter accounts of real traders that make money. Facebook friend successful traders if you have the opportunity. Learn to back test different systems to see how they performed historically. Study chart patterns and market history. Study, read, and grow.
They are quick to take profits and slow to take losses. This makes your profits small and your losses big not to mention just very stressful. Do the opposite, let your flowers grow until they stop growing and pull your weeds immediately.
New traders just trade too big. It is better to have a big win with a small position size than a small win with a big position size, why? Risk. You have to take small risks, like cutting losses when you are down 1% of total account equity on one trade. Why? So five to ten losses in a row do not remove you from trading sooner or later.
New traders let the ego take over. The ego is a terrible trader, it brags about its wins, denies its losses and never admits when it is wrong. Trade with a plan not with an ego.
They make up how to trade as they go. Before you place a trade you need to know your entry point, exit points, and the position size you will be trading and why you think it will be successful. Making this up as you go along is a formula for disaster.
They never choose a trading style. Investors turn into day traders when fear drives them out. Trend traders turn into swing traders when they lose many times in a row. Day traders turn into investors when they just can’t cut a big loss. Choose a strategy and time frame and stick with it.
They get greedy. Failing to know when to take a  profit off the table when it begins to retrace can turn a winner into a loser. Have a plan for a trailing stop and how to exit with profits.
Focusing all their efforts on entries and setups. The entry does not make you money, the exit does. Focusing on how to cut losses when you are wrong about a trade and set trailing stops on winners is the real way to make money in the markets.
Focusing on hot tips instead of correct trading. Developing a winning method, managing risk, and clear thinking is what makes money in the markets in the long term not trying to trade tips or be given trades. Tips are for waiters trading set-ups are for traders.
Following a guru. If a ‘guru’ is offering to sell you a secret system or formula instead of teaching you how to trade on your own then beware. You want to learn how to fish not be sold a fancy fishing pole they may only work in some waters.

Last Close : 6210

Today it should cross 6224 with volumes and sustains for 20 minutes then only  more Strength

Target :6240 – 6279 – 6305 level in hrs only.

Very soon, We see 6400-6420 level

3DEMA @ 6150 ,7DEMA @ 6105 levels will act as support levels.

Given Only To Subscriebrs.

SELL Nifty Future 6228 SL 6238 and Go for targets 6177 to 6144

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There are lots of trading blogs out there but I genuinely know that my trading blog Money munch is a a variety of kind of blog and here is why:

I am not trying to upward offer you to any other system that costs thousands of dollars. I do not have a newsletter, trading space, or training courses, I am a trader that blog basically for my own benefit. Blogging forces me to duty on increasing my trading every day.

 The trading instructions I speak regarding on my blog are from proper life experiences not principle or thinking.

that’s why my Trading blog is Different.

Last close: 6143.35

Yesterday FIIs bought 65602 contracts of Index futures and sold 42063 contracts of Index futures which come to net buy of 23539 contracts worth 709 Crores with net open interest increasing by 4985 contracts.

Thinking about all the above basic facts, it appears that FIIs once again did short covering in Nifty Futures, Still no indicator of fresh long. Today again will be the crucial day to watch out the activity of FIIs.

Today the Market is expected to open higher following positive trend observed in another Asian markets, Reliance stock will stay in focus after reported profits which were largely in line with analyst expectations.

WHAT FOR TODAY?

Nifty future short sell 6144 to 6188 for targets 6066 and 6044 if break and close below 6066, then wait for targets 5988-5966

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