Pakistan Stock Exchange : Stock and Forex Trading
- Be Watchful The Heaven and Hell waiting depending on you Methodical and
Cautious Approach (Part I)
The Pakistan Stock Exchange (Sadly Formerly Karachi Stock Exchange) is leaping like a Panther in Regional Markets. Many professional platforms have been consistently praising advancement and successful run of the PSX (Pakistan Stock Exchange). In true sense, the PSX is a lot to offer for investment (not for Trading only).
To be successful one has to be dead-cautious while selecting good scripts for investment. According to the professional experts in investment and to some extent trading depends on psyche of the investor/ trader.
There Psychological type of persons and his/her way of thinking are the most important factors for getting huge success in investment or trading. The golden formula of success depends on three components with certain percentages mentioned hereunder:
Your Trading expertise and Strategies amounts to 10% -
Your Money Management skills amounts to 30%
Your Trading Psychology amounts to 60% -
You can see the above information and can easily understand that Factor of Psychology is the pivotal key to amazing results in trading.
Keep this in mind that not being psychologist but as an investment expert one can figure out that it is an interesting scenario, that investor and trader working in the Stock or Forex market is constantly under sever anxiety and trauma as one wobbles on the brink of wealth and poverty, failure and success.
An interesting fact is that the investors or traders, who became millionaires, such as John Tempelton, Philip Fisher. Warren Buffett, Benjamin Graham, Peter Lynch, George Soros, Jack Bogle and Carl Icahn. In Stock Exchange business and Alexander Eelder, Bill Williams, Lewis Borsellino, Van Tharp, Brian June, and many others in Forex trading, were either psychiatrists or use class of psychological skills. Just pay special attention to this point! Professional psychiatrists, psychologists and psychotherapists have become the leaders in trade instead of experts in finance and economy! These results make me wonder!
You will become a successful trader when you understand why and what happens in the market. A trader shall analyze why he/she makes mistakes and how to rectify them. When he/she learns to do it, he/she will become a trader with no psychological obstacles on the way.