- KNOWLEDGE :- I cannot say too much about the gaining of knowledge. You cannot get knowledge without spending time in study. You must not look for a quick and easy way to make money in the Stock market, When you have paid in advance with time & study. and gained the knowledge. then you will find it easy to make money. The more time you put in gaining knowledge the more money you will make later. Knowledge is no enough. You Must put into use what you learn in order to benefit. You will learn by Doing. Action & execution @ the proper time bring profits.
- PAPIENCE:- The is one of the very important qualification for success in trading in stock markets. First you must have the oatience to wait for an a opportunity to determine a definite buying or selling point. When you make a trade. you must hae the patience to wait for opportunities to get out right, or to make profit. You must determine a definite change in trend before you close a trade to take profits. This only results from study of past market movement. & from acquring the proper knowledge.
- NERVE:- A man can have the finest gun in the world. but if he hasn't the nerve to pull the trigger he will never kill any game. You can have all the knowledge in the world. but if you haven't the nerve to buy and sell you cannot make profit ! Knowledge gives a man nerve, makes him bold and enables him to act at the right time.When a man fails to buy or sell at the right time, the result is that he becomes afraid. Fair is a detrimental influence. When he has too much nerve and buys on hope at the top, he is guessing. When influenced by hope alone, he cannot expect profits,
- GOOD HEALTH:- No man makes a great success in any business. unless his health is goog. because a brilliant mind cannot work successfully with weakened body. You will not have proper patience or enough nerve, if your health is impaired. When You are in bad health, you become despondent, you lose hope, too much fear & will be unable to act at the right time.
- CAPITAL :- When you have acquired all other qualifications for making success trading in Stocks, you must, of course, have CAPITAL. but if you have KNOWLEDGE & PATIENCE, you can start with small capital & make larger profits, provided yiu use STOP LOSS ORDERS; take small losses and do not NEVERTRADE. Remember, NEVER BUCK THE TREND. After you determince the trend of the market, GO WITH IT & regardless of what you think, hope or fear, you will make SUCCESS. FOLLOW RULES TO DETERMINE THE TREND & DO NOT WORK ON HOPE OR GUESS WORK.
Courtesy: Sunil
