CFD Trade and Share Trading Requires the Right Mindset

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CFD Trade and Share Trading Requires the Right Mindset

Post by vivek042 on Wed Mar 03 2010, 20:14

Trading CFDs and shares are not only concerning charts and money. You need the total mindset of the whole person to CFDs trade and share trading. Professional CFD and share traders agree that the kind of orientation or a mindset of a person is important before one goes into the market to engage in the business of trading.
For instance, the sought-after mentor Justine Pollard who wrote the best-selling finance book called Smart Trading cites important steps to become a profitable trader the way she is today. Let us take a closer look:
1. Getting to know yourself better: What are your motivations for trading?
When you are in the business of trading, the totality of your person hood is involved. Getting to know yourself including your strengths and weaknesses is very crucial. When you engage in CFD trade and share trading, you do not only use your head. You are also using your emotions. Where risks, losses and triumphs are involved in the market, you need your physical strength to think and react in the most profitable manner.
Justine Pollard writes:
"You are the most important factor in your trading. You are the one who makes the decisions and you are the one who decides what happens once you open a trade. It is what goes on inside your head that will make or break you as a trader." (Smart Trading Plans, Cool
2. Believing in yourself: You are the key factor in your trade
You need to believe in yourself in the business of trading. You may have a support group of like-minded people, however, in the end believing in yourself is what sees you through a profitable trading despite the inevitable losses you encounter.
3. Evaluate yourself on a regular basis
Measuring your accomplishments and progress is a vital practice in trading. This discipline allows room for improvement. This is one of the ways to evaluate how far you have gone in your trading. This also gives you the chance to modify or amend strategies you believe you can use in a particular situation you have encountered throughout your business in trading.
Trading CFDs and shares are avenues where you get to know yourself better, not just as a trader, but also as a person.
Fortunate Management India :

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by pankaj joshi on Thu Mar 04 2010, 20:19

what about new platforms that are yet to make an impact like sbi .sharetrader and reliance money super trade?

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by pawankumar on Thu Mar 18 2010, 15:44

also give review about religare and money bhai investor!

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by pankaj joshi on Fri Mar 19 2010, 14:58

Charges Brokerage, DEMAT and other statutory charges

Ask for detailed information about brokerage charges for intra-day, delivery, future and options transactions. Nowadays,

with fierce competition, you could easily negotiate brokerage charges. For day trading, Future and Options, you might

fetch brokerage @ 0.005 to 0.05% and for delivery transactions @ 0.2 to 0.5% depending the volume of transactions. Check

out what is the minimum brokerage amount payable by you, as many brokers levy minimum brokerage to the tune of Rs.10-25

for the transactions less than certain specific amount. Insist on a separate sheet that spells out all the necessary

statutory charges such as ST (service tax), STT (Securities Transaction tax), Turnover Tax, Stamp Duty and Exchange

Transaction Charges. Find out what are the various types of charges for DEMAT account, which could include Annual Folio

Maintenance charges and transaction charges. You must be aware about all these charges because it can add substantially

to your expense side and hence reduce your profits.

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by pawankumar on Mon Mar 22 2010, 17:40

great information...where do you get all these?

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by pawankumar on Wed Mar 31 2010, 18:05

pankaj give me some info on good rising trends in online trading?

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Re: CFD Trade and Share Trading Requires the Right Mindset

Post by seenathkumar on Thu Jun 24 2010, 17:48

Pankaj really help full information for investors. Hoping you will share more updates.
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CFD Trade and Share Trading Requires the Right Mindset

Post by Bhanu on Mon Aug 02 2010, 16:31

Hai....
Good morning...
this information is very good...
Thank you for sharing with us...

regards,
Phe9oxis
http://www.guidebuddha.com

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