Chapter 1: Listening
by PRASHANT SHAH -
Me: I have been trading the markets, but have had no luck. It is really difficult to become successful here. You: Hmm. Which instruments you trade? Me: I have traded in all possible ways. I have invested in stocks in the short term. I have a long-term portfolio. I have traded derivatives. I have done ... Read more
Chapter 2: The Problem
by PRASHANT SHAH -
You: I want you to know that you have worked very hard. You are intelligent and experienced. You have understood several aspects of trading and investment. Me: Yes, but I am not successful. I need to find the solution to my problem. You: In today’s era, where information is easily available, finding the solution is ... Read more
Chapter 3: Duties
by PRASHANT SHAH -
Me: What is a better time frame for trading if you want to generate good returns? People say you benefit by investing for the long term. You: What is the definition of long term? Me: May be one year? You: Why one year? Because of tax benefits? Or is it that you might need the ... Read more
Chapter 4: Knowledge
by PRASHANT SHAH -
Me: I can now think over what you have been saying. But people must be knowing about these things in one way or another. After all, people know about the basic principles of the market. So, why are they still unable to achieve success? You: To understand why they do not succeed, you need to ... Read more
Chapter 5: Policy
by PRASHANT SHAH -
Me: You said we shouldn’t focus on the outcome. There are methods to derive targets of the stock or any instrument. They help at times while trading. But should we not to look at them? You: That is a part of the method, not the outcome. Your exit criteria can be based on trailing stop-loss ... Read more
Chapter 6: Genius
by PRASHANT SHAH -
Me: I understood that focusing on the immediate outcome is a problem. We must have a long-term approach. You said that we should treat money as a number. That means we need to practice detachment. Having no feelings towards money. Is that even possible? You: It might be too much to ask. Let’s not say ... Read more
