stock trading: Mind Over Money: Sachin Gupta shares a 12-point checklist for traders to maintain their sanity

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Five-day work week, permanent weekends off, no presentations or annual goals – some might call it a dream life, but for a trader, it’s not a dream job because it comes with its own challenges, Sachin Gupta, CEO and full-time director, Share India explains.

The stock market has changed a lot over the past 20 years, and so has trading. From the “badla” system to e-commerce on the NSE or BSE, markets have undergone an overhaul since the 1990s thanks to the evolution of technology.

The price trend may well change in a split second and the strategy you thought was foolproof may soon end in losses.

Avoiding over-trading is meditation: Sachin Gupta

5 days a week, permanent weekends off, no presentations or annual goals – some might call it a dream life, but for a trader it’s not a dream job as it comes with its own set of challenges , Sachin Gupta, CEO and full-time director, Share India explains.

Traders who are under constant pressure due to volatility should practice yoga at least 5 times a week and do pranayama to maintain their mental health to better make decisions and manage stress, recommends Gupta who is over 20 years old experience in trading.

The age of a trader is no more than 20-25 compared to investors who might even go beyond 60, Gupta points out thanks to the excessive volatility and stress traders experience while trading.

Gupta highlights a few factors traders should consider when starting their trading journey –

  1. Don’t compare yourself to other traders
  2. Your family and colleagues are your greatest support
  3. Preventing yourself from overtrading is meditation
  4. Take at least 15 days of vacation per year to break the monotony
  5. Do breathing exercises
  6. Play a sport with teammates
  7. Practice yoga 5 days a week
  8. Traders should focus on non-speculative positions
  9. Implement market-neutral strategies to avoid stress
  10. Adjust trading strategies with volatility
  11. Keep your goals fixed
  12. If your profit target is reached, stop the machine and go

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts belong to them. These do not represent the views of Economic Times)

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