When you enter the market you are most probabily overconfident with your money and market. This is not your fault but the people around you who showed you only 1 Side of the coin and always kept you in the dark with the other side!
The feeling of you being wrong with your trades will always increase your anger even if you don’t know the market or even if you know the market. This anger can spoil your relationships with friends and family, so better not talk to them on days like these!
Anger might lead to the feeling of revenge and once it hits you, make sure to logout and not look at the Market. Always remember the market is way mightier than you. Respect and bow your head and accept that you were wrong and not the market.
Since you might have lost a huge sum of your capital, now you will be self-doubting yourself. This is common and trust me this is not the end. This will just increase with time until you learn the markets!
This phase is very important because after this phase only you will either leave the market or stay in the market and again this phrase might come to you again and there is no limit to how many times. This phase usually comes when you might have lost most of your corpus. Some get hit with this phase early as well, depending on how big or small your corpus is/was.
If you decided to continue you will start introspection and mind you if you don’t do this and just jump to the next phase the whole cycle will repeat till depression and you’ll end up going nowhere. This phase will teach you many things and not just about the stock market (in fact I highly doubt it will teach you about the stock market) but about you and life. And here you’ll start respecting the market more and more.
This phase is where you’ll actually start learning the market and now you’ll understand the importance of reading. Some take help and some try to go with Eklavya’s way. Either way, you’ll learn but the second option is tough since it takes a lot of time and you will have no one to tell you what mistakes you did whereas, having a genuine mentor can help you excel exponentially.
8. n * Repeat(1-5)
Yes even though you learned the analysis this won’t guarantee any success. In this phase you’ll learn that there is a thing called Risk Management and Trade management and every big firm has this system in place and at this time you’ll start building your own system.
Mind you every time you will fail you become more and more wise with money, life, and relationships. In order to continue, you have to stay put and trust the process. Once you decide to take shortcuts you’ll see a nosedive in your graph of progress so the moto should always be 1 step at a time!
You’ll either have an illusion that you made it or you’ll actually achieve it! Yes, it is very important that you understand that this can be temporary so the Wise phase should always be remembered by you! If you didn’t go through that phase you will see that this phase will always remain temporary. Buying expensive shit when you have to give up half of your capital for that is not wise! So keep your goals higher and don’t make noise with your trading gains and by buying that will create Leaches to stick to you and suck your blood!
-1 step at a time!
-Trust the process
-The probability of you being lucky will increase only if you try again and again! This does not mean overtrading but trying hard.
-Never forget your roots.
-Meditation will help you grow exponentially!
-Micromanagement will give you the productivity of 48 hours in 18 hours.
-Minimum of 5 hours of sleep. Your brain is wired to work only if given proper rest!