In Trading...Trust only your Experience

Discussion in 'Investment Strategies' started by demeanor, Oct 8, 2010.

  1. demeanor

    demeanor Banned

    hi friends !!!

    Im a trader by profession...and when I was a novice...I did not know where to invest in? when to invest in? but wanted to earn loads of money. I had a zeal, I had a passion to win all the trades and make money quickly. But stock-market is a different world altogether.

    I have learnt many a things in my career as a trader. I lost many trades due to lack of experience, lack of wise thinking, lack of home work and lack of good advice. Many people out there will only try to degrade you, they would like to see our downfall. They would be more interested in our downgrading pattern.

    I lost few of my trades because I have listened to few people who guided me in a opposite direction....and thus lost my money.

    So friends.....always trust only your experience, trust only your instinct......because even if you lose, you will not blame anybody..
     
  2. zapper

    zapper Active Member

    Well, i wouldn`t dispose off that listening to other`s ideas and suggestions might have an effect over my own moves. It is important that one does not act in absolute accordance with a stranger`s idea (second or third person), but to actually gain those ideas as inputs and make a better decision.
     
  3. yogeshwartyagi

    yogeshwartyagi Active Member

    Well in my opinion suggestion of demeanur is reall helpful. There are people who send tips just to serve their motive and ultimately the risk is completely on the follower of such suggestions. So be careful even if you want to act on a suggestion do your own research, look into the news, and apply your own experience then decide what is the right move.
     
  4. zapper

    zapper Active Member

    You are absolutely right. But it gets crucial only when another person is trying to take control of your own decision by persuading you into making a choice. Otherwise, even if there are 100s of opinions from several people, it is wiser to treat them as inputs alone for the sake of making a judgement. Who knows... maybe, one of the opinions might even save you from a great loss... just as an example.
     
  5. Legendkid

    Legendkid Banned

    Do you know what? You can add you experience and that of others and come out with a better idea.Like in here, You get people advise on different trades and sentiment and adding it to your experience you come out victorious.According to zig ziglar
    SEE YOU AT THE TOP.
     
  6. mark14327

    mark14327 Member

    How you would trust yourself if you don't have much experience in trading? I'm a newbie in trading so how can i gain more money if i can't sacrifice. So for me I'm listen in expert trader before i invest than trust myself.
     
  7. zapper

    zapper Active Member

    Well, in order to build the trust on yourself, you might start off trying demo trading. Many brokers offer demo trading accounts where you can indefinitely practice your trading skills as you learn, using their demo money. It also helps you establish a support on conquering fear and nervousness while going real money trading!. good luck!.
     
  8. demeanor

    demeanor Banned

    listen to expert traders but implement it only when you feel that particular suggestion is helpful. Try demo online trading platform and use play money to practice...
     
  9. demeanor

    demeanor Banned


    yes true maybe, one of the opinions might even save you from a great loss... just as an example...true it might help us to protect ourselves from losing few trades
     
  10. pddhie

    pddhie Banned

    You can always listen to the experts. But what you will learn is their strategy. For you to gain confidence in trading is only up to yourself. Yes, you can gain knowledge from what the experts will tell you, but [/B]experience will always be the best teacher
     
  11. zapper

    zapper Active Member


    An expert`s say is usually a more generalized version of advice. It may be mostly repetitive in nature. But, through the experience you gain, you will be able to co-relate how general the advice of majority of the people were against what you have acquired. It may be profit or loss, but to gain any experience, participation is a precondition.
     
  12. pddhie

    pddhie Banned

    Another thing that I have noticed in this type of business is, you will never know who will be your competitor. It can be the expert you're getting advises from. Be unique in style, at the end, it will be only just you who will be running the business.
     
  13. zapper

    zapper Active Member

    Very true!... You got a subtle advice in your statement. It is indeed as likely to get fantastic advice from an expert as to not being able to anticipate whether the advice is actually to gain a competitive edge over you. Besides, i see little room for a unique style in trading. More or less, we might be using the same strategy that at least a small fraction of traders also use, across the world. But again, i do not deny the fact that it is possible to design and develop a completely unique system.
     
  14. pddhie

    pddhie Banned

    Indeed it is. It requires: experience in the business world, failures will always be a plus point as long as you know how not to avoid it; competitors, the good ones, because from them you're going to learn new techniques; and lastly patience, we should know that 'Rome was not build within a day'.
     
  15. zapper

    zapper Active Member

    It is often claimed that failures are stepping stones to success. But sometimes, it is the nature of the human mind to re-test a failed attempt especially in case of investments where there is no sure way that you can claim that a specific strategy will always fail. I agree that only patience can help creativity. It`s almost like trying to build a tower with playing cards and it could take either an impatient move or a careless move to make the cards fall off!.
     
  16. naoj128

    naoj128 New Member

    yeah right that's why it is called business as you are not the only person thinking or earning money from what you already have. You cant say you will not trust anyone as you don't know if one day they will be your opponents but the mere fact that you invest your money in any form is already a form trust. It just really depends on how you can manage that form of trust in a way that, it will be beneficial for you.
     
  17. demeanor

    demeanor Banned

    yes...managing our money depends on us and not on others.....but we have to be very very careful and we must be thinking in "n" number of ways...
     
  18. naoj128

    naoj128 New Member

    when you plan before you invest and your money is on the right place as what you've plan, for sure it will give you a lot of advantages. One will be the profits from it,second will be the experience you learn and third is the idea of how to make it better next time.
     
  19. zapper

    zapper Active Member

    @naoj128,

    Sometimes, opponents can give you bad advices. But what finally matters is the decision you make. You may also be able to recognize your opponents either by judging their advices or by executing their ideas at your own risk thus proving the obvious. Besides, you not only gain experience through profiting or losing, but also by simply taking part in the investment.
     
  20. naoj128

    naoj128 New Member

    @ Zapper

    That's right so in any investing that you're planning to do just keep focus and be positive. Outcomes can be good or bad that's given but then just keep your eyes on your target.
     

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