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Let’s start by saying: You can’t be afraid to take a loss. The investors that are the most successful in the stock market are the people who are willing to lose money.
Having a strategy and/or a specific philosophy is an excellent starting point to investing but it won’t mean a thing if you can’t manage your money. As I have said a million times: without cash, you can’t invest.
Most investors spend far too much time trying to figure out the exact pivot point or perfect entry strategy and too little time on money management. The most important aspect to investing is cutting your losses, 90% of the battle is won by protecting your capital, regardless of the strategy.
Most successful money managers only make money 50-55% of time. This means that successful individual investors are going to be wrong about half the time. Since this is the case, you better be ready to accept your losses and cut them while they are small. By cutting losses quickly and allowing your winners to ride the up-trend, you will consistently finish the year with black ink.
Here are some methods that can help you with money management:
With these guidelines, you will be well on your way to solid money management skills that will help you profit in year in and year out. Always remember, you are going to take-on losing trades at least half of the time. This is a tough concept to accept for most novice investors but it a fact. If you don’t cut losses, you won’t beinvesting for very long as you will run out of cash and the desire to continue to invest.
Across Asia, Hong Kong’s Hang Seng index is pacing gains with a 4 percent rally, while the benchmark indexes in South Korea, Taiwan and Australia are rising around 3 percent each.
CRUDE: Buy call on crude. We would recommend a buy the crude MCX November at around Rs 4,330-4,350 with a stop loss of around RS 4,280 and targets of around Rs 4,430-4,440 for the intra-day strategy.
GOLD: It is moving in a very narrow range of Rs 27,000 – Rs 27,500 and is hovering around Rs 26,500, so selling gold at Rs 27,000 would be a good idea. Even though gold has a long term uptrend since it is stuck in a side base move selling at Rs 27,500 for intraday trade for day or two would be the strategy.
SILVER: A buy call on Silver. Buy Silver December contract on MCX at Rs 53,000 with a stop loss of Rs 52,600 for a target of Rs 54,100.
ZINC: Go long in zinc at Rs 90.20 with stop loss below Rs 88.50. One can expect prices to move up and test levels of Rs 92-92.50 during intra-day trading.