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Hello everyone! Welcome back to Sandy E-learning. Continuing from our previous discussions on intraday trading prerequisites, let's now focus on developing the right mindset for trading.
Disclaimer: I am not a SEBI-registered trader. I am sharing my knowledge based on my experience. If I make any mistakes, please let me know, and I will correct them.
There's a quote I live by: "Trading is a business, not gambling." It's important to remember this before starting your trading journey.
As mentioned in previous videos, nine out of ten traders fail. To be part of the successful 10%, you need the right mindset. You cannot expect to earn 100% profits every day in the stock market. Avoid treating trading like a lottery. Instead, approach it as a business.
Set realistic profit expectations. For example, if you aim for a 1% stock movement daily, you can achieve a 5% profit in a single trade. Over a month (20 trading sessions), this could result in a 100% profit on your capital. Patience is key.
Remember to account for brokerage charges. For example, if you earn ₹1,000 in profit, but brokerage fees are ₹300, your net profit is only ₹700.
By maintaining a business mindset and focusing on percentage-based profits, you can navigate the stock market more effectively. Always remember that trading is a disciplined business, not a gamble.
I hope this helps clarify how to approach intraday trading with the right mindset. Happy trading! 📈💼
Feel free to leave your questions in the comments, and I'll be happy to answer them.
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