Last week I sent out this poll asking if people have a written plan:

https://t.co/ZSlPJOGHG1
Over 60% of people said they did not have one.

It's now one of my main goals to get as many people as possible to commit to writing their own rules which codify their goals and methods.
I strongly believe that writing down your strategy especially if you are a new trader/investor will lead to improved and more consistent performance in the stock market.
Trading the markets is a tough business, money is on the line and emotions can run high.

Preparing ahead of time is essential so that in the moment you are just executing your plan.

This is the best way to stay in the game for the long haul
And funnily enough, even though 60% of respondents did not have a written plan, almost 85% believed having one would improve their performance.

That means people need to put in the work. Do it.

https://t.co/XQhpBeShOu
Rules should be personal, based on your own experiences, style, and timeframe.

However, the most important thing is that you have them and update them regularly based on post-analysis of your own trading and studying past winners
In my view, any set of trading rules should cover these main topics at the least:

Determining Market Conditions
Stock Selection
Entry Setups
Stop Loss Management
Position Management/ Sell Rules
Mindset/Psychology
Post Analysis
Routines
Dealing with earnings
Crisis Management
They should also outline your own personal goals when it comes to investing.

Your rules should be granular enough that someone with a similar amount of knowledge could follow your strategy.
Get started this weekend if you haven't already, get something down on paper.

It should take about an hour to get your main thoughts across and it's worth it believe me.
For trading rules guidance, I highly suggest you check out the Youtube Webinar @RayTL_ and I hosted on the @TraderLion_ channel

Ray walks through so many important concepts when it comes to rules and how to write them

#Absorb #Study #Apply #Repeat

https://t.co/Cf3LOB3Zu9

More from Richard Moglen ๐Ÿ“ฝ๏ธ๐Ÿฆ๐Ÿšข

How to time the market (thread)

There is the old saying that โ€œTime in the market beats timing the marketโ€ The chart below from Dr. Wishโ€™s @WishingWealth presentation at the @TraderLion_ conference shows that to be false.

Full presentation:
https://t.co/o2f21GBXci


The green line is unattainable realistically, however, missing volatile times during corrections yields better performance than buy and hold and we can aim for the green line.

Investors usually only show the gray and red results.

More

There are many strategies for investing/trading in the stock market operating within different timeframes and with different objectives.

That is of course what creates a market and opportunity. Timing the market may not be what works for you or what fits your goals/lifestyle.

However, everyone involved in the market is here to make money over time and corrections can cause huge drawdowns in the high alpha names negating incredible performance during strong market uptrends.

More from Traderlion

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Simple and effective way 2 make Money


Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1

After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1

Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes

Use same criteria for nifty, usdinr and banknifty

(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax

I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.

Couldn't explain easier than this

Criticisms are most welcomed.