Hey, do you want to know who is the most Successful Stock Trader in India then you are in right place? Here in this article, I’ve published a list of all successful share market traders and investors in India.
Must Read about How to start investing in Share Market
Successful Traders in India
Most Successful Stock Traders in India are:
- Radhakishan Damani
- Rakesh Jhunjhunwala
- Ramesh Damani
- Raamdeo Agrawal
- Tasneem Mithaiwala
- Bhavook Tripathi
- Vijay Kedia
- Dolly Khanna
- Kirubakaran Rajendran
- Abhinand Basavaraj
- Naresh Nambisan
- Porinju Veliyath
When it comes to rules, your stock trading rules are your money. When you follow your rules you definitely make money and lead you to a successful trader in the long term. However, if you break your own stock trading rules the most likely outcome is that you will lose money because trading meant for rules.
Once you have a reliable set of stock trading rules it is important to keep them in mind and to follow them. Here is one discipline that can reap your rewards.
I’ve explained the Best 10 Golden Rules to be a successful stock trader like above mentioned successful traders in India. So, read these rules before your day starts and also read the rules when your day ends to enjoy rewards.
Rule 1: Follow Rules
Naturally, if you have a set of rules they should be followed but it is human nature to vary or break rules. It takes discipline to continue to act in accordance with the established stock trading rules.
Rule 2: Minimal Risk
You may find many old traders. You may find many bold traders. But you will never find old bold traders. Protecting your capital base is fundamental to successful stock market trading over time, hence you should never risk more than 3% – 5% of your total portfolio.
Rule 3: Cut Loses
Most of the traders have an even lower tolerance for loss. The key point here is to have set points (stop loss) within the limits of your tolerance for loss because cutting loses is the best strategy to increase profits. Stay informed about the performance of your stock and stick to your stop-loss point to minimize loses.
Rule 4: Never set Price Targets
This is a trading style that will allow you to get the most out of rising stocks and simply let you the profits run. It is good to set Price Targets but never set “Strict Price Targets”.
Realistically, you can never pick the best tops, even no-one. Further, you may give back a good percentage of profits you earned in the hope of much bigger profits & may land in loses.
The big money is made from trading the really BIG moves that someone can occasionally catch.
Rule 5: Master One Style
Keep learning, practicing and getting better at a single method of trading. Never jump from one trading style to another and try to ride a single horse. Master one trading style rather than become average at implementing several trading styles.
Rule 6: Price & Volumes as Guide
Never listen to any opinion & tip about the stock market or about individual stocks you are considering trading or are already trading. You should rely on Price & Volume because everything is reflected in the price and volume. You just need to follow them to ride on big moves.
Rule 7: Take Valid Signals
Don’t make excuses while trading. Because stock market always gives opportunity to make an entry. If you’ve not taken you should not make excuses.
Rule 8: Never Trade on Intra-Day Data
There are always ups and downs in stock price & we see price variation within the course of any trading day. Relying on this intra-day data for momentum trading can lead to some wrong decisions and you may face loses.
Rule 9: Take Time Out
Successful stock trading isn’t solely about making money while trading. It’s also about emotional & mental strength to physical fitness. Stress is always on when your money floating in the market.
So, you need to reduce the stress every day by taking time off the computer and working on other areas. A stressful trader will not make it in the long term and can’t be a Successful Stock Trader.
Rule 10: Be an Above Average Trader
In order to succeed in the stock market to be a successful stock trader, you don’t need to do anything exceptional. You simply need to not do that what the average trader does. The average trader is inconsistent, undisciplined and don’t follow his/her rules.
Ask yourself every day, “Did I follow my method today?” If your answer is no then you are in trouble and it’s time to recommit yourself to your stock trading rules and that is Rule No. 1.
You should always follow trading rules and be disciplined because only disciplined trading can lead to becoming a successful trader.
Happy Trading! 😊