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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » "Plan Your Trade and Trade Your Plan."

"Plan Your Trade and Trade Your Plan."

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1"Plan Your Trade and Trade Your Plan." Empty "Plan Your Trade and Trade Your Plan." Fri Sep 16, 2011 12:55 am

sriranga

sriranga
Co-Admin
Your Stock Trading Efforts Are Doomed To Failure without This..........

So many of us seem to lose money, or at best are just fortunate to break even in the stock market. Have we ever wondered why?

Quite often, beginning traders get excited when they get lucky and one or two of their stock picks turns into a profitable trade. The thought then naturally follows that this "stock trading thing is pretty easy!" With so many books, magazines and info available on the internet devoted to trading and investing strategies, the excited trader then starts devouring every bit of information they can get hold of. Their new-found knowledge will certainly ensure success - right?

Quite possibly, with this newly acquired plethora of knowledge, trading can go pretty well for a time. Sooner or later, at some point when they hit a snag and see their profits starting to dwindle, the thought then naturally occurs "what am I doing wrong?" It can be both frustrating and disappointing. It's not monopoly money you're playing with, after all.


Time to reign things in and get a real Stock Trading Plan. That's what's been missing from the start. Even when you set out with the best of intentions, and armed to the teeth with all the knowledge available - if there isn't a proper Trading Plan to follow, you're doomed to failure. You just can't implement everything at the same time. You have to pick a few strategies - and stick with them.

It seems so simple, doesn't it? But in our information age, it's so easy to get overwhelmed with all the available knowledge; use a little of this, a little of that, and you just end up hurting yourself and getting discouraged. It's wise to use a few strategies when you know how to implement them, and that in itself becomes a strategy that will work for you when you know what you're doing.

It's more than wise to devote some time to create a stock trading plan for yourself - and stay the course. Stick with your plan, and make adjustments along the way. See what works and what doesn't work so well for you. In doing that you will educate yourself by understanding the why of what works and what doesn't. This can only help to improve your overall trading plan.

Learn from your mistakes - like every other trader has done before you. Don't give up, only to start over from scratch. Put your lessons to good use in adjusting your trading plan. But above all - have a plan.

Edited article from stocktrading4wealth

http://sharemarket-srilanka.blogspot.co.uk/

greedy007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Very good for the novices like me.
Thanks.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
Sharing My Strategy: The 50:50 Plan

I try to save a fixed amount every month. My goal is to balance my investments - 50% in shares, 50% in bank account.

Sometimes, my shares value declines to less than my bank balance. (This has been happening a lot lately.) Then, I invest my savings in fundamental shares until I return to 50:50.
In any month, if my shares value has gone up more than my bank balance, I even sell off shares and keep the money in bank account.

By doing this, I am trying to follow a combination strategy: (a) Rupee cost averaging, (b) Risk reduction and (c) the 'Buy low, sell high' principle.

What's your stock trading plan..?

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks Antonym.
Most of my investment strategy related to dollar cost averaging which I learned from my dad. Still I'm playing here and there swing trading to boost my PF Value.

5"Plan Your Trade and Trade Your Plan." Empty Re: "Plan Your Trade and Trade Your Plan." Sat Feb 08, 2014 11:23 pm

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Kumar wrote:Thanks Antonym.
Most of my investment strategy related to dollar cost averaging which I learned from my dad. Still I'm playing here and there swing trading to boost my PF Value.


dollar cost averaging??????
hmm.. i dnt know about this...
whats this? pls

me too bit of playing here..... but felt like shud have good plan for investing rather plating Sad

6"Plan Your Trade and Trade Your Plan." Empty Re: "Plan Your Trade and Trade Your Plan." Sun Feb 09, 2014 12:12 am

sriranga

sriranga
Co-Admin
@KDDND wrote:
@Kumar wrote:Thanks Antonym.
Most of my investment strategy related to dollar cost averaging which I learned from my dad. Still I'm playing here and there swing trading to boost my PF Value.


dollar cost averaging??????
hmm.. i dnt know about this...
whats this? pls

me too bit of playing here..... but felt like shud have good plan for investing rather plating Sad

http://forum.srilankaequity.com/t6611-averaging-the-buy-price-to-minimize-risk-a-common-mistake-of-stock-traders#77319


BTW you already commented on the above thread on 11th and 12th July 2013.

http://sharemarket-srilanka.blogspot.co.uk/

7"Plan Your Trade and Trade Your Plan." Empty Re: "Plan Your Trade and Trade Your Plan." Sun Feb 09, 2014 12:45 pm

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@sriranga wrote:
@KDDND wrote:
@Kumar wrote:Thanks Antonym.
Most of my investment strategy related to dollar cost averaging which I learned from my dad. Still I'm playing here and there swing trading to boost my PF Value.


dollar cost averaging??????
hmm.. i dnt know about this...
whats this? pls

me too bit of playing here..... but felt like shud have good plan for investing rather plating Sad

http://forum.srilankaequity.com/t6611-averaging-the-buy-price-to-minimize-risk-a-common-mistake-of-stock-traders#77319


BTW you already commented on the above thread on 11th and 12th July 2013.

Thx Sri!

I thought of something like Money trading or so..... misunderstood!
its like averaging the price of the stock holding.. Smile

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