Some truths about trading you should know.
1. If you haven’t made a loss you haven’t started. Trade a bit more. Lose some, don’t overanalyse.
2. Game Theory. Period.
(Read up, learn and apply)
3. If you are just starting, start with Equities. Options can burn you way too much in the beginning and futures will confuse you. The level of speculation which takes place in these two will confuse you way too much in the beginning and leave little to analyse.
4. Record. Learn excel, Record failures and wins. Always helps.
5. Stop loss is critical. A stitch in time doesn’t save nine. It saves billions.
6. No offense but you’re instinct is shit. Distrust it like the Indian police. It’s only there to get you and screw you over.
7. Aesop was right in its fables. Patience is a virtue, greed is not. Once you’re objectives are fulfiled GTFO.
8. The internet is a great place to learn, including forums. It is also the worst place to go search for ‘tips’.
9. Remember you just need around 25-30% sucess rate of calls to breakeven. (Kinda like pen-n-paper CAT) That is, if you are planning to follow protip # 5.
10. Stay in the game only if you love it. It’s fascinating and has its shares and agony and ecstacy. The learning is steep and you’ll both love and hate it.
