Dr. Rajiv C.
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Karekar : The Holy Grail, the Ultimate Edge for Traders trading in Nifty,
Sensex, Dow index, indices, futures, options, cash, IPO, commodities at NSE,
BSE, NYSE or other Stock Exchanges.
Articles : Trading / Financial
initial years of my trading in index futures, options and stocks,
I must say that I made a lot of mistakes and as a result of them suffered
financially and mentally. The saddest thing was the fact that I kept on repeating the same mistakes again and again! However a good thing
to understand is that this story of mine is quite common with other
successful traders in their initial days.
Following is a list of the mistakes that one should see frequently and
remind oneself not to commit them any time. One should hammer it into
Many times we hear people saying that they play stock market. Precisely
there lies the mistake! You should look at trading as a Serious Business and
following list is not in any specific order of importance. In-fact in
trading any small mistake too can prove financially detrimental.
Failure to have any concrete trading plan ready before the trade is
Changing the trade's time frame after the trade's direction is not going
i.e. Converting a Day Trade into Swing Trade. When that Swing Trade also
is failure then becoming an investor!
Exiting positions early and taking small profits too early. But when it
comes to taking a loss then exiting a loosing position too late and
incurring a large loss.
understanding that every loss to begin with is a small one!
profits expectations that are too high, too soon. This occurs many times
unknowingly with OTM Option Buy Trades.
too little initial trading capital.
Money Management. Easiest way is to follow 1 or 2 % Rule.
Failure to have Protective Stops. Protective Stops should be both Stop
Losses in initiating a trade as well Profit Preserving Stops when the
trade is well in profit.
Trading against the main trend. Becoming more focused on short term
market chaos rather than understanding the real overall market outlook.
of patience, clear trading plan and discipline.
Letting small losses turn into large losses.
Refusing to take a loss at all.
fishing/Catching falling knives.
Thinking this market stuff is easy.
Trading in a revenge mode.
Trading when Mood is Low.
Taking out Profit from Trading Account.
having fast internet access, computer equipments.
having Emergency Backup measures in the case of Power Failure.