Staying calm in the stock market turmoil.
It was a tough day for me. This day I understood something, why I should maintain my cool, control my emotions.
I have been doing this market game for over 1 year, I made some profits at first( What people call beginners luck). At that time markets were good and went up every day, and I made neat profits. Now things are a bit different, if one day the market is up, next day it is down.
As it is human nature, to go for more profits within a short time, I decided ti jump into option. I took index option( nifty option). Today was a bad day, ahead of the inflation numbers. I had a put option, and could have made a lot of money, but I couldn’t handle the pressure and had to give up the profits and ended up with a call option in a market which is going down.
So my next aim, is to learn to maintain my cool, whatever the matter is.Losing money is something which everyone hates, I too hate it. So I am planning to do something about it.
1. Don’t take advice from others which jeopardize your chance to win.
2. Learn and be updated with the market moves
3.Don’t forget key dates
a. Inflation numbers announcement date.
b.SEBI meeting date.
c. TRAI MEETING
d. Futures and options expiry
and many more….
So learning to live with the markets is a matter. learning to live life is another matter. I experienced the anxiety, fear, greed an everyday trader experiences. I could feel my heart pumping hard, beating fast. If I cannot control my emotions and stress I wouldn’t live enough to enjoy all the benefits life has to offer me!
Some tips to manage stress
- Try to identify your own stress triggers
- Adopt techniques which work for you - we all cope with stress differently
- Be aware of your own symptoms of stress
- Accept yourself and don’t try to be perfect
- Take action to tackle your problems
- Look after yourself physically and mentally
- Be positive
So waiting to see whether market beats me or I beat the markets. Hopefully I suppose I would beat the market!
I found this article interesting:How to Maintain Your Cool When What You Really Want to Do is Smack Your Husband
Hey, have you tried playing the stock market game Wall Street Survivor? You get to trade real stocks in real-time, using fake money.
It is very helpful in teaching you how to tame your emotions and become a better trader.