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HOW TO SET STOCK TRADING GOALS AND REACHING THEM
| From : Hemant Parikh at 01:15 PM - Aug 08, 2009 (30 months ago) |
HOW TO SET STOCK TRADING GOALS AND REACHING THEM
The fast moving world of the stock market confuses objectives and targets of investors. It is necessary to devise a plan which is robust and profitable in the testing environments of the stock market. It is imperative that investors set trading goals and strategize their actions accordingly. The following discussion incorporates the
Understand Your Stock Portfolio
“Eat what you can digest”. While building your portfolio choose the stocks preferentially, giving importance to those stocks which you will be to handle comfortably. In order to make some fast bucks picking stocks which are as incomprehensible as Greek is a bad decision. Further, it is of utmost importance that you have wide information about the nature and future prospects of the stocks picked. Randomly picking up stocks just for the sake of it will only cause trouble in the long term.
Advice from Professionals
Though it is a bonus if the investor has some experience in dealing with stocks, investors should look up to professionals who analyze and operate on stocks for a living. A professional would be able to provide a better analysis than a part-timer who meddles in stock market. Now, there is an array of services which are used for information gathering by a stock market investor. The recommendations of professionals should be sought for, even more in a volatile economic market. The stock market is the right place for wealth creation, but going alone in this financial minefield is not prudent.
Be Flexible
In this volatile market investors should be flexible in their outlook. Within a trading session, many times an investor has to take a non-traditional decision. The decision making should still be conforming to the basic concepts of stock trading. But, the investor should be flexible in taking new decisions.
Long term Planning
The stock market is full of manipulations and volatile tactics. The stock investor should review the past performances of the portfolio and take long term decisions in its reflection. The trading of the stock investor should cast a futuristic approach. The planning should account for factors, seen or unforeseen in the future. Taking decisions based on a quick profit in the short term is not advisable.
Decide the time to get out
Sometimes it is advisable to stay put even in a volatile market adhering to a long term plan. But, when the danger is imminent the stock trader should have the guts to cash out.. This remains true for intra day and swing traders in all cases but in some, the long term investor should also decide to find the exit door. Stock market movements are at the most
Irregular. Therefore, planning an exit strategy before the hand burnt is prudent. Moreover as a rule, whatever the trend the stock trading is showing now may reverse unexpectedly.
Prioritize Goals
The stock market pretty much same as life and here to prioritizing goals is fundamental to success. Investors need to do the same and not juggle with too many objectives at once.
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"You will never succeed buying or selling when you hope the market is going up or down.
You will never succeed by making a trade because you fear the market is going up or down.
Hope will ruin you because it is nothing more than wishful thinking and provides no basis for action.
Fear will often save you if you act quickly when you see that you are wrong.
"The fear of the market is the beginning of wisdom".
Knowledge that you can only obtain by deep study will help you to make a success.
The more you study past records the surer you are to be able to detect the trend in the future."
The stock market is full of manipulations and volatile tactics.
The stock market is the right place for wealth creation, but going alone in this financial minefield is not prudent.
In this volatile market investors should be flexible in their outlook. Within a trading session, many times an investor has to take a non-traditional decision. The decision making should still be conforming to the basic concepts of stock trading. But, the investor should be flexible in taking new decisions
excellent for beginners like us ===principal bhupinder chandigarh
you are only single guy in mudraa with positive attitude . hemant jee . gopi.
Thank u very much for such imp. advice
"don't believe it as truth just because I said so. Believe it only when you feel that it is the truth".
Yaa definitely sirji...........Thank u.........
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