Author name: daytradingadda

Day Trading: A Guide to Success for Beginners Day trading has become an appealing path for many who seek financial independence and the ability to work on their own terms. It promises the excitement of working in fast-moving financial markets, the flexibility to set your schedule, and the potential to generate substantial income through day trading.However, for most new traders, the reality often involves months—or even years—of hard work, only to struggle with achieving consistent profitability in day trading. If you find yourself in this position, don’t lose hope! Many successful traders faced similar challenges before finding their groove.Below are five essential tips to guide you as you embark on your trading journey. These strategies are designed to help you avoid common pitfalls, improve your trading habits, and put you on the path to sustained success. 1. Master the Law of Large Numbers (Understanding Probability in Trading) The law of large numbers is a fundamental concept in trading. It states that as the number of trades you make increases, your outcomes will begin to align with the statistical probabilities of your trading strategy.Here’s a simple example: imagine flipping a coin 10 times. The results could vary significantly, with perhaps seven heads and three tails. But if you flip the coin 1,000 times, you’ll find that the results come closer to the 50/50 probability for heads and tails.In trading, this means you need a sufficient sample size of trades to truly understand whether your strategy is effective. A streak of losses or wins in the short term doesn’t necessarily reflect the strategy’s overall potential.How to Apply This Principle: Execute at least 100 trades before assessing the performance of your trading strategy. Ensure your strategy has a risk-reward ratio of at least 1:2, meaning you aim to make $2 for every $1 you risk. This helps you remain profitable even if you win less than 50% of your trades. Avoid overtrading. Focus on high-quality trade setups that align with your strategy instead of taking random trades to increase volume. Trading is not a sprint—it’s a marathon. Consistency and adherence to your strategy over a large number of trades are what separate successful traders from the rest. 2. Find a Trading Style That Matches Your Personality One of the biggest mistakes new traders make is trying to follow someone else’s trading style without considering whether it fits their personality, strengths, and goals.In his famous book Market Wizards, Jack Schwager interviewed some of the world’s most successful traders. A key takeaway from the book is that every trader has a unique style of trading. For instance, some traders prefer fast-paced, high-intensity trading, while others succeed by patiently waiting for the perfect opportunity to unfold.Common Trading Styles to Consider: Scalping: Involves taking advantage of small price movements within minutes or seconds. This style requires quick decision-making and the ability to handle intense pressure. Day Trading: Focuses on entering and exiting trades within the same day, often using short-term charts like 5-minute or 15-minute timeframes. Swing Trading: Involves holding positions for several days or weeks to capture larger price movements. This style is slower-paced but requires patience and market analysis. Trend Following: Involves identifying and riding long-term trends in the market. How to Choose the Right Trading Style: Evaluate your personality and temperament. For example, if you dislike high-pressure situations, scalping may not be the best fit. Experiment with different methods on a demo account before committing to one style. Once you find a method that resonates with you, commit to mastering it rather than constantly switching between strategies. Trading is most effective when it aligns with your natural tendencies. When you enjoy and feel comfortable with your trading style, you’ll be more disciplined and consistent. 3. Develop a Detailed Trading Plan Imagine trying to navigate an unfamiliar city without a map. Trading without a plan is equally chaotic and often leads to poor decisions based on emotions. A trading plan acts as your roadmap, guiding you through the complexities of the market.Key Components of a Trading Plan: Capital Allocation: Decide how much money you’re willing to trade with. If you’re a beginner, start small and gradually increase your capital as you gain experience. Risk Management: Limit your risk to no more than 1% of your total capital per trade. For instance, if you have $10,000 in your account, risk only $100 on a single trade. Trading Timeframe: Select the timeframe that suits your strategy—such as 5-minute, 15-minute, or hourly charts. Market Selection: Determine which markets you’ll trade—stocks, forex, commodities, or indices. Focus on one or two markets to build expertise. Entry and Exit Rules: Define clear criteria for entering and exiting trades, including stop-loss and take-profit levels. Strategy Type: Decide whether you’ll focus on scalping, trend following, or another approach. A well-defined trading plan not only keeps you focused but also minimizes emotional decision-making, which is a major cause of losses for traders. 4. Execute Your Trades with Precision Execution is where your trading plan is put into action. While having a plan is critical, how you execute it can determine your success.Tips for Effective Execution: Start small to reduce emotional pressure. For new traders, early losses are like “tuition fees”—part of the learning process. Always use a stop-loss order to cap potential losses. Never trade without one, as it’s your safety net in volatile markets. Focus on discipline and consistency. Stick to your plan and avoid emotional decisions, even during losing streaks. Avoid large losses at all costs. Small losses and break-even trades are normal, but one large loss can erase days or weeks of progress. Your results may appear random in the short term, but over time, your discipline and strategy will yield consistent outcomes. 5. Maintain a Trading Journal and Continuously Learn Tracking your trades is essential for growth. A trading journal allows you to analyze your performance, identify patterns, and learn from mistakes.What to Record in Your Trading Journal: Market Conditions: Note any significant news or trends that influenced the

Trading in the financial markets is as much about strategy and execution as it is about discipline and continuous improvement. Yet, many traders—especially beginners—overlook one of the most critical tools for growth: a trading journal for stock trading.Think of a trading journal template as your personal blueprint for success. Much like how athletes review game footage or businesses analyze quarterly reports, a forex trading journal enables you to track your progress, identify strengths and weaknesses, and refine your approach to the financial markets. It’s a tool that transforms day trading from a guessing game into a structured and disciplined pursuit.In this guide, we’ll explore why a trading journal app is indispensable, how to create one effectively, and the profound impact it can have on your trading performance. What is a Trading Journal, and Why is it Important? A trading journal is more than just a record of your trades—it’s a comprehensive log of your trading activities, including the rationale behind your decisions, your emotional state, and the outcomes of your trades.Why is it Crucial? Clarity and Self-Awareness: A trading journal provides a detailed account of your trades, helping you see beyond profit and loss numbers. It reveals why certain trades worked and others didn’t, giving you the insights needed to replicate success and avoid mistakes. Identifying Patterns and Strategies: Over time, a well-maintained trading journal excel template allows you to spot consistent patterns or strategies that generate profits. You can also identify recurring behaviors or setups that lead to losses. Emotional Management: Trading isn’t just about numbers; it’s also about managing emotions. By documenting your feelings—whether it’s fear, greed, or overconfidence—you can recognize emotional triggers and develop strategies to control them. Accountability and Discipline: A trading journal holds you accountable for your decisions. It’s a reminder to stick to your trading plan, follow your strategy, and avoid impulsive trades. Continuous Improvement: Reviewing your journal regularly enables you to learn from your experiences and refine your approach. It’s an ongoing feedback loop that sharpens your day trading strategies over time. Why Many Traders Avoid Keeping a Trading Journal D Despite its benefits, many traders shy away from maintaining a trading journal for day trading. Common reasons include: Lack of Knowledge: Beginners may not know how to create or use a trading forex journal effectively. Time Constraints: Logging trades and reflections can feel time-consuming, especially for day traders with multiple trades daily. Misconceptions: Some believe that tracking profits and losses through a broker’s platform is sufficient, failing to realize that financial results alone don’t provide actionable insights. While these concerns are understandable, the benefits of keeping a trading journal far outweigh the initial effort. Once you make it a habit, it becomes a natural part of your trading routine. How to Create an Effective Trading Journal Creating a trading journal doesn’t have to be complicated. Here’s a step-by-step guide to building one that works: 1. Use a Spreadsheet for Logging Trades A spreadsheet is a practical tool for recording essential trade details. Include the following columns in your log: Date of Trade: The day you executed the trade. Market/Instrument: The stock, currency pair, or commodity you traded. Entry Price: The price at which you entered the trade. Exit Price: The price at which you exited the trade. Stop-Loss Level: The level where you set your stop loss to cap potential losses. Profit or Loss: The financial outcome of the trade. Risk-Reward Ratio: The ratio of potential profit to potential loss. Strategy Used: The specific pattern, indicator, or strategy that guided your decision. 2. Maintain a Visual Record Complement your spreadsheet with screenshots of your trades. These visuals add context and help you analyze market conditions and your decision-making process. Capture: Entry and Exit Points: Mark where you entered and exited on the chart. Patterns or Indicators: Highlight the setups or signals you followed. Market Context: Include any relevant factors like news events or overall market trends. 3. Record Your Emotions and Thoughts Trading is as much psychological as it is technical. Document your emotions and thought process during each trade: Were you feeling confident, anxious, or impulsive? Did fear or greed influence your decisions? Were you following your trading plan, or did you deviate from it? Tools for Maintaining a Trading Journal Here are some tools to help you create and manage your journal: Spreadsheet Software: Use Microsoft Excel, Google Sheets, or any spreadsheet application to log trade details. Charting Platforms: Platforms like TradingView and MetaTrader offer tools for taking and annotating chart screenshots. Screenshot Tools: Snipping tools like Snagit or Lightshot can help you capture and annotate charts. While these concerns are understandable, the benefits of keeping a trading journal far outweigh the initial effort. Once you make it a habit, it becomes a natural part of your trading routine. How to Use Your Trading Journal Effectively A trading journal is only valuable if you review it regularly and act on the insights it provides. Here’s how to maximize its impact: 1. Review Your Journal Weekly or Monthly Set aside time to analyze your trades periodically. Look for trends, patterns, and recurring mistakes. 2. Identify Profitable Patterns Focus on the setups or strategies that consistently yield positive results. These are your bread and butter—double down on them. 3. Eliminate Loss-Making Behaviors Recognize patterns that lead to losses and make a conscious effort to avoid them in the future. 4. Monitor Emotional Triggers If you notice that emotions like fear or greed frequently lead to bad decisions, work on strategies to manage those feelings. 5. Track Your Progress Over Time Compare your performance across weeks or months to ensure you’re improving. Celebrate small victories and learn from setbacks. Overcoming Initial Resistance Starting a trading journal might feel overwhelming, especially if you’re new to trading. However, the habit becomes easier with time, and the rewards are well worth the effort. Recording your trades fosters discipline, builds accountability, and creates a foundation for long-term success. Conclusion: The Trading Journal—Your Key to Success A

Day trading has become an appealing venture for individuals seeking to generate extra income or diversify their financial pursuits. However, not everyone aspires to pursue trading as a full-time career. Many prefer to balance trading with their existing professions, enjoying the best of both worlds.The good news? Part-time day trading is not only possible but, for many, it’s also a more practical approach than full-time trading. By dedicating just a few focused hours each day and adhering to a well-structured plan, part-time traders can achieve meaningful results.This guide offers actionable tips and strategies to help you succeed as a part-time day trader, no matter your current commitments or experience level. Why Part-Time Day Trading is Practical and Rewarding Part-time trading allows you to participate in the financial markets without the pressure of relying solely on trading for income. Here’s why it works: Flexibility: Part-time trading enables you to trade around your work schedule. Whether you have flexible work hours or leverage time zone differences, it’s possible to find windows that align with market activity. Focused Opportunities: Markets experience peak activity during certain hours, such as the opening and closing sessions. By concentrating your trading efforts during these periods, you can maximize your efficiency and avoid burnout. Reduced Emotional Pressure: Trading full-time often comes with significant financial and emotional stress. Part-time trading allows you to maintain a steady income from your job while building trading skills and confidence at a manageable pace. Lower Risk Exposure: Spending limited time in the market reduces your exposure to risk. By trading only during high-potential periods, you can minimize impulsive trades and focus on quality setups. Key Strategies for Part-Time Day Traders To succeed as a part-time day trader, you need a disciplined approach and strategies tailored to your schedule. Here are some essential tactics:1. Focus on High-Volatility Hours Markets experience the most activity during specific periods, offering greater opportunities for profit. Morning Trades: The first 30–45 minutes after the market opens (9:15 AM–10:00 AM IST for Indian markets) are ideal for spotting trends and executing quick trades. Afternoon Trades: The last hour of trading (2:00 PM–3:30 PM IST) also sees increased activity as traders adjust their positions before market close. If you can only trade during these windows, focus on identifying high-probability setups and act decisively.2. Use Alerts for Efficient Monitoring Modern trading platforms provide tools to set alerts for critical price levels and patterns. For instance: Previous Day High (PDH) and Low (PDL) Current Day High and Low Central Pivot Range (CPR) These alerts notify you when key levels are reached, allowing you to act promptly without constantly monitoring charts. Alerts are especially useful if you’re juggling trading with work.3. Consider Swing Trading as an Alternative If your schedule doesn’t allow for active day trading, swing trading may be a better option. Swing trading involves holding positions for several days or weeks, requiring less frequent monitoring. Develop a clear strategy with predefined entry, exit, and stop-loss levels. Use limit and stop orders to manage your trades automatically. Review your trades periodically to assess performance. Swing trading offers the flexibility to participate in the stock market while managing a full-time job.4. Explore Alternative Markets If stock market hours conflict with your schedule, consider other markets that operate during different timeframes. Commodity Trading: Commodity markets in India remain open until 11:30 PM IST, providing opportunities for evening trades. Forex Trading: The forex market operates 24 hours a day, allowing you to trade during early mornings or late evenings based on your availability. These markets offer diverse opportunities, making them suitable for part-time traders. Avoiding the Trap of Casual Trading One of the most common pitfalls for part-time traders is treating trading casually. Casual trading often leads to undisciplined decision-making, increased losses, and missed opportunities. The Difference Between Part-Time and Casual Trading Part-Time Trading: Involves a structured, disciplined approach. You trade during specific hours with a clear plan and strategy. Casual Trading: Involves sporadic trading without preparation or focus, often leading to impulsive decisions and inconsistent results. To succeed, treat part-time trading with the same seriousness as a full-time job or business. Use a desktop or laptop for analysis and execution, and avoid trading in informal settings like cafeterias or while multitasking. Setting Realistic Expectations As a part-time trader, it’s important to manage your expectations. Unlike full-time traders, your goal isn’t to earn massive profits quickly. Instead, focus on building consistency and discipline. Aim for Modest Gains: For instance, earning ₹5,000 daily from two to three hours of focused trading can add up significantly over time. Avoid Overtrading: Resist the temptation to trade all day. Overtrading often leads to unnecessary losses and emotional burnout. Embrace Patience: Part-time trading is a gradual process. As you refine your skills, your earnings will grow. Best Practices for Part-Time Day Traders To maximize your success, follow these best practices: Plan Ahead: Study market conditions, analyze charts, and identify potential setups before you begin trading. Stick to High-Reward Hours: Trade only during peak periods to maximize efficiency and minimize distractions. Focus on Quality Over Quantity: Prioritize high-probability trades over frequent trades. Maintain Discipline: Follow your trading plan, set realistic goals, and avoid impulsive decisions. Invest in Continuous Learning: Stay updated on market trends and refine your strategies through ongoing education. Conclusion: Achieving Success as a Part-Time Trader Part-time day trading offers a flexible and rewarding way to participate in the financial markets without giving up your primary job. By focusing on high-volatility hours, using tools to streamline your efforts, and maintaining discipline, you can build a reliable secondary income stream.Over time, part-time trading can serve as a stepping stone to full-time trading or simply remain a supplemental income source. The key is to treat it seriously, plan meticulously, and prioritize continuous improvement.Start by dedicating just a few focused hours each day, and you’ll be well on your way to achieving success as a part-time trader.

Trading is more than just buying and selling in the markets; it’s a legitimate business that demands discipline, strategy, and a clear plan. When approached with the right mindset, trading for financial freedom can provide financial independence and the flexibility to design your own schedule. However, success in trading as a business, much like in any business, hinges on preparation, resilience, and continuous learning.In this guide, we’ll explore how to establish and run your trading business effectively, maximize your potential, and navigate challenges to build a sustainable source of income. Advantages of a Home-Based Trading Business A trading business offers numerous perks that make it a compelling alternative to traditional employment: Be Your Own Boss You are in complete control of your decisions. Your success depends entirely on your ability to analyze markets, develop strategies, and execute trades effectively. Flexible Schedule Unlike most jobs, home-based trading allows you to set your own hours. Whether you prefer trading in the morning, during your lunch break, or late at night, there’s always a market open somewhere. No Meetings or Office Politics Trading for a living eliminates unnecessary distractions like meetings and workplace politics. You can focus solely on improving your craft and reaching your financial goals. No Fixed Deadlines There’s no pressure from external deadlines. You work at your own pace and set realistic, achievable goals based on your unique trading style and preferences. The Essentials for Success in Trading Running a profitable trading business requires a strategic approach like any other entrepreneurial venture. Here are key aspects to consider:1. Choose a Trading Style: High-Turnover vs. Low-TurnoverYour trading style will define how you operate your business: High Turnover (Scalping): This style involves frequent trades, capturing small price movements with high trade volume. It’s akin to a supermarket model, where consistent smaller profits add up over time. Low Turnover (Breakout Trading): Aims for larger profits with fewer trades by capitalizing on significant price movements. This style resembles high-margin luxury businesses like Mercedes-Benz, focusing on quality over quantity. Choose the style that aligns with your personality, risk tolerance, and financial trading objectives.2. Manage the Costs of TradingEvery business has operating expenses, and trading is no different: Equipment and Tools: Invest in a high-quality laptop or PC, a stable internet connection, and reliable trading software. These are your essential tools. Stop Loss (SL): Losses are the unavoidable “expenses” of your trading business. Effective risk management, such as using stop-loss orders, ensures you stay in the game during challenging times. Preparing for Market Challenges Markets are inherently unpredictable, and there will be periods of low profitability. Planning for these times is crucial: Build an Emergency Fund: Keep 24-36 months of living expenses separate from your trading capital. This safety net ensures financial stability during market uncertainty or personal setbacks. Stay Emotionally Balanced: Trading is as much a mental game as it is a technical one. Avoid emotional decision-making by sticking to your trading plan and taking breaks when needed. Diversify Your Trading Business Successful businesses thrive by diversifying their income streams, and trading for income is no exception.1. Expand Your Trading StrategiesStart with a few reliable strategies and expand as you gain experience. For example: Master 2-3 trading patterns initially, such as trend following or range trading. Gradually increase your arsenal to 10-15 patterns to ensure you always have options, regardless of market conditions. 2. Explore Multiple MarketsDon’t limit yourself to one asset class or market. Consider: Equities: Stock markets are ideal for day traders and swing traders alike. Commodities: Trade in gold, oil, or agricultural products for diverse opportunities. Forex: Currency pairs offer high liquidity and 24-hour trading. Cryptocurrencies: A volatile but rewarding market for experienced traders. Key Tips for Building a Trading Business 1. Develop a Competitive EdgeYour edge is what makes your strategy profitable. To create one: Study various trading methods, including scalping, breakout trading, and technical patterns. Backtest your strategies using historical data to refine them before trading live. Continuously adapt your approach based on market changes and performance reviews. 2. Build Adequate CapitalTrading requires a significant capital base to generate meaningful returns. For example: A 60% annual return on ₹1 lakh yields ₹60,000. The same return on ₹50 lakh generates ₹30 lakh, demonstrating the importance of scale. Save consistently or maintain an alternate income source until you can fund your trading business adequately.3. Ensure Financial StabilityFinancial security is vital to avoid the pressure of making profits quickly. Keep a separate fund for living expenses covering 2-3 years. If possible, rely on a spouse’s income or work part-time during your initial trading phase. 4. Supplement Your Income Diversifying your income outside of trading reduces financial stress and creates stability. Consider: Content Creation: Start a blog or YouTube channel to share your trading insights and monetize your knowledge. Consultancy: Offer advisory services or mentorship to aspiring traders. Part-Time Work: Engage in flexible work opportunities to supplement your income. Conclusion: Treat Trading Like a Business Trading is not gambling; it’s a business that requires a systematic approach. To succeed, you must: Treat losses as business expenses and learn from them. Diversify risk across strategies and markets to ensure consistent opportunities. Maintain adequate capital and financial reserves for long-term sustainability. Think like a business owner: analyze your performance, adapt to changes, and continuously improve. By doing so, you can create a profitable trading business that supports your financial goals and provides the freedom and flexibility you desire.Start small, plan meticulously, and commit to continuous learning—your trading business has the potential to grow into a rewarding venture with time and effort.

In trading, risk management is the cornerstone of success. Among the various tools available to traders, the Stop Loss (SL) stands out as one of the most effective methods for safeguarding your capital. A properly used stop loss can distinguish a seasoned trader from a novice, helping to limit losses and preserve your account through volatile markets.This guide will explain what a stop loss is, why it’s crucial, common mistakes traders make when using it, and strategies for maximizing its effectiveness. What is a Stop Loss in Trading? A Stop Loss (SL) is an order placed with your broker to automatically close a position when the price of an asset reaches a specific level. Its purpose is simple: to limit your loss when the market moves against your position.For instance, if you buy a stock at $100 and set a stop loss at $95, the position will be automatically closed if the price drops to $95. This limits your loss to $5 per share, ensuring you don’t lose more than you’re prepared to risk. Why is Stop Loss Essential? Preserves Capital: Trading is about surviving the long term. Stop losses prevent large losses that can deplete your account and end your trading career prematurely. Eliminates Emotional Decisions: In volatile markets, emotions like fear and greed can cloud judgment. A stop loss ensures your trades follow a predetermined plan. Manages Risk Consistently: By setting a stop loss, you predetermine the amount you’re willing to lose on each trade, which helps maintain consistency and discipline in your trading approach. Common Stop Loss Mistakes to Avoid While the concept of a stop loss is straightforward, improper use can undermine its effectiveness. Here are some of the most frequent errors traders make: Avoiding Stop Losses Altogether Some traders avoid setting stop losses, hoping the market will reverse in their favor. This approach can lead to catastrophic losses, as the market doesn’t always cooperate. Trading without a stop loss is akin to driving without brakes—dangerous and unsustainable. Widening Stop Losses When the price approaches their stop loss, some traders move it further away, hoping the market will turn around. This practice often leads to even larger losses. Accept small losses as part of trading and resist the urge to “chase” the market. Moving Stop Losses to Breakeven Too Soon Moving a stop loss to breakeven too early in a trade may protect you from losses but can also prematurely close potentially profitable trades. Allow trades enough room to breathe by waiting for significant price movement before adjusting the stop loss. Setting Stop Losses at Obvious Levels Placing stop losses at predictable levels—such as just below support or above resistance—can make them targets for stop-loss hunting. Large market players exploit these predictable levels to trigger stop orders and generate liquidity. Relying on Mental Stop Losses A “mental” stop loss, where you decide to exit manually if the price reaches a certain level, is unreliable. Traders often hesitate or make emotional decisions, leading to larger-than-expected losses. Effective Stop Loss Strategies To use stop losses effectively, consider adopting one or more of these proven strategies: Use the Average True Range (ATR) for Dynamic Stop Losses The Average True Range (ATR) measures market volatility, helping you place stop losses at appropriate levels based on the current market environment. For example, if the ATR of a stock is $2, a stop loss placed $2–$3 away from the entry point gives the trade room to breathe without being prematurely stopped out. Leverage Moving Averages as Dynamic Stops In trending markets, moving averages like the 8-period or 20-period Exponential Moving Average (EMA) can serve as dynamic stop loss levels. For a long position, place the stop loss just below the EMA, allowing the trend to guide your trade while protecting against a reversal. Use Percentage-Based Stop Losses A percentage-based stop loss limits your loss to a fixed portion of your account size, ensuring consistency in risk management. For instance, if you’re risking 1% of a ₹5,00,000 account, your maximum allowable loss per trade is ₹5,000. Adjust your position size accordingly. Combine Stop Loss with Position Sizing Calculate your position size based on the distance between your entry price and your stop loss level. This approach ensures your risk per trade remains consistent. Example: If your stop loss is 10 points away, and you’re risking ₹1,000 per trade, your position size should be 100 shares or contracts. Why Traders Avoid Stop Losses Despite its benefits, some traders hesitate to use stop losses. Here’s why and why it’s a mistake: Ego: Traders may view a stop loss as admitting they were wrong. However, the market is unpredictable, and accepting losses is a sign of professionalism, not failure. Fear of Missing Out (FOMO): Traders avoid stop losses, fearing they might exit a trade prematurely and miss out on profits. This mindset often leads to significant losses. Lack of Discipline: Trading without stop losses reflects an undisciplined approach, which rarely leads to long-term success. Conclusion: Mastering Stop Loss for Trading Success Using a stop loss is not just a precaution—it’s a vital component of a successful trading strategy. It protects your capital, ensures emotional discipline, and allows you to survive and thrive in the volatile world of trading.To make the most of stop losses: Place them at levels informed by technical analysis, such as ATR or moving averages. Avoid predictable levels to minimize stop-loss hunting Treat small losses as business expenses and focus on the bigger picture. Remember, trading is about consistency and longevity. By using stop losses effectively, you can manage risk, preserve capital, and increase your chances of sustained success in the markets.

Trading is a journey of learning, mistakes, and evolution. For many traders, the turning point in their career comes when they discover the tools and strategies that truly resonate with them. For me, pivot points and the Central Pivot Range (CPR) were transformative. These tools, when combined with price action, have become the foundation of my trading strategy.This guide will explain what pivot points and CPR are, their significance, and how you can effectively use them in your trading journey. What Are Pivot Points? Pivot Points are technical analysis tools used to identify potential levels of support and resistance. They are calculated using the previous day’s price action (high, low, and close) and provide traders with actionable levels to predict price movements for the current trading session.Pivot points are particularly popular among intraday traders in markets like stocks, forex, and commodities due to their simplicity and reliability. How Pivot Points Are Calculated The Primary Pivot Point (PP) is the foundation, and other levels (resistance and support) are derived from it. Formulas for Pivot Levels 1. Pivot Point (PP): PP=High+Low+Close3PP = frac{text{High} + text{Low} + text{Close}}{3}PP=3High+Low+Close​2. Support and Resistance Levels: Resistance 1 (R1): R1=(2×PP)−LowR1 = (2 times PP) – text{Low}R1=(2×PP)−Low Resistance 2 (R2): R2=PP+(High−Low)R2 = PP + (text{High} – text{Low})R2=PP+(High−Low) Support 1 (S1): S1=(2×PP)−HighS1 = (2 times PP) – text{High}S1=(2×PP)−High Support 2 (S2): S2=PP−(High−Low)S2 = PP – (text{High} – text{Low})S2=PP−(High−Low) These levels are displayed as parallel horizontal lines on trading charts. Modern platforms calculate and plot these levels automatically, making them accessible to traders of all experience levels. Why Pivot Points Are Effective Pivot points have several characteristics that make them a powerful tool for traders: Leading Indicator: Unlike lagging indicators (e.g., moving averages), pivot points are calculated using historical data and provide predefined levels for the current session. Static Levels: These levels remain fixed for the entire session, offering clarity and consistency in decision-making. Institutional Relevance: Many institutional traders use pivot points analysis, making these levels widely respected and reliable as support and resistance. Versatility: Pivot points work across different asset classes, including stocks, indices, forex, and commodities. Practical Strategies for Using Pivot Points Reversal at Pivot Levels When the price approaches a pivot point, observe how it reacts. If the price hesitates and reverses, it indicates that the level is acting as strong support or resistance. You can enter trades in the direction of the reversal with tight stop losses. Breakout Trading If the price consolidates near a pivot level and breaks out with a strong candle, trade in the direction of the breakout. For example: If the price breaks above R1, your target could be R2. Place a stop loss just below R1 to manage risk. Zone-to-Zone Trading Trade within pivot zones, moving from one level to the next. For instance: If the price breaks above PP, target R1. If the price falls below PP, target S1. What is the Central Pivot Range (CPR)? The Central Pivot Range (CPR) is an advanced version of pivot points and consists of three levels: Pivot Point (PP): The central level. Top Central Pivot (TC): The upper range of the CPR. Bottom Central Pivot (BC): The lower range of the CPR. CPR Calculation Top Central Pivot (TC): TC=High+Low2TC = frac{text{High} + text{Low}}{2}TC=2High+Low Bottom Central Pivot (BC): BC=High+Low+Close3BC = frac{text{High} + text{Low} + text{Close}}{3}BC=3High+Low+Close The distance between the TC and BC indicates market volatility: Wide CPR: Indicates low volatility and a range-bound market. Narrow CPR: Suggests high volatility and potential breakouts. How to Trade Using CPR 1. CPR as a Trend Identifier: Narrow CPR: Signals potential trending moves. Enter trades in the direction of the breakout. Wide CPR: Suggests consolidation. Use range-bound strategies. 2. Support and Resistance Zones: The price often reacts around the CPR. If it breaks through the CPR, it signals strong momentum, and the CPR becomes the opposite role (support or resistance). 3. CPR and Pivot Levels Combination: Combining CPR with traditional pivot points creates robust trading zones. For instance: If the CPR aligns with PP, it becomes a high-probability zone. Use R1 or S1 as targets depending on the trend. Advanced Strategies with Pivot Points and CPR 1. Multiple Time Frame Analysis: Use daily, weekly, and monthly pivot points together. When these levels overlap, they form strong zones of support or resistance. 2. Combine with Moving Averages: Use moving averages like the 50 EMA to filter trades. For example, only take long trades above the moving average and short trades below it. 3. Price Action Integration: Observe candlestick patterns (e.g., pin bars, engulfing candles) near pivot points or CPR to confirm entry and exit points. Conclusion: Mastering Pivot Points and CPR Pivot points and CPR strategies are indispensable tools for traders seeking clarity and precision in their decision-making. Their simplicity and predictive power make them ideal for both novice and experienced traders.To get the most out of these tools: Backtest your strategies thoroughly before applying them in live markets. Combine pivot points and CPR levels with other tools like price action, moving averages, and volume analysis. Practice discipline and patience to achieve consistent results. Whether you’re trading indices like Nifty and Bank Nifty or other liquid instruments, pivot points and CPR trading techniques offer actionable insights that can transform your trading performance. Start incorporating them into your strategy today and elevate your trading to the next level!

Becoming a full-time trader is a goal that many aspire to achieve, but the road is challenging and requires meticulous planning, discipline, and preparation. Reflecting on my own journey, I wish I had a roadmap when I started trading in 2003. Back then, access to reliable trading strategies and knowledge was limited. Unlike today, where the best trading platforms and resources are available online, I learned many lessons the hard way—through costly mistakes and emotional struggles.This guide outlines the 5 crucial steps to becoming a successful trader. Use it as a checklist to assess whether you’re ready to take the leap and thrive in this demanding profession. Master the Fundamentals of Trading A strong foundation in stock market trading basics is non-negotiable. Before diving in, invest time in understanding: Market Mechanics: Learn how markets operate, including order types, market sessions, bid-ask spreads, and the role of liquidity. Technical Analysis: Familiarize yourself with price action, chart patterns, trend lines, and indicators like RSI, MACD, and Bollinger Bands. Fundamental Analysis: Study the financial health of companies, macroeconomic trends, and how news impacts markets. Action Steps: Read books such as Technical Analysis of the Financial Markets by John J. Murphy. Enroll in online trading courses or attend workshops. Seek mentorship from experienced traders who can guide you through real-world scenarios. Key Takeaway: Knowledge in trading is your most powerful tool in the unpredictable world of financial markets. Never stop learning. Build a Robust Trading Strategy A well-defined trading plan serves as your roadmap, guiding your actions and decisions in the market. Key Elements of a Strong Strategy: Clear Goals: Define your financial objectives, risk tolerance, and preferred trading styles (e.g., scalping, swing trading, or positional trading). Backtesting: Test your strategy on historical data to evaluate its performance under different market conditions. Risk Management: Set rules for position sizing, stop-loss placement, and maximum drawdown limits. Flexibility: While discipline is key, your strategy should adapt to changing market conditions. Common Pitfall to Avoid: Relying on day trading tips or copying others’ strategies without understanding them. Your strategy must align with your personality, capital, and risk appetite.Key Takeaway: A profitable trading strategy is your guide to navigating the markets with confidence and consistency. Secure Your Financial Foundation Trading full-time is inherently risky. Unlike a regular job, income from forex trading or stock trading can be irregular and unpredictable. Building financial security is crucial to manage stress and avoid hasty decisions. Steps to Financial Preparedness: Emergency Fund: Save at least 6–12 months of living expenses to cover necessities during periods of drawdown. Capital Allocation: Use only surplus funds for trading. Never risk money needed for rent, bills, or other essentials. Diversify Income Sources: Consider maintaining alternative income streams, such as freelance work or passive investments, to reduce reliance on trading income. Pro Tip: Treat your trading capital as a business asset. Protect it at all costs by avoiding unnecessary risks and over-leveraging.Key Takeaway: Financial security allows you to trade with a clear mind and focus on long-term success. Master Emotional Discipline Day trading psychology is as much about controlling your emotions as it is about analyzing markets. Fear, greed, and impatience can derail even the most skilled traders. How to Build Emotional Discipline: Stick to Your Plan: Avoid impulsive trades driven by FOMO (fear of missing out) or panic. Limit Losses: Use stop-loss orders and position sizing to minimize the impact of losing trades. Practice Patience: Wait for high-probability setups instead of forcing trades. Learn from Losses: Treat every loss as a lesson and analyze your mistakes to improve. Pro Tip: Consider maintaining a trading journal. Documenting your trades, emotions, and outcomes will help you identify patterns and areas for improvement.Key Takeaway: Emotional discipline is a skill that separates successful traders from the rest. Test the Waters Before Going Full-Time Transitioning to full-time trading is a significant commitment. To minimize risk, take a gradual approach. Steps to Test Your Readiness: Start Part-Time: Trade during your free time while keeping your regular job. Use this period to build experience and confidence. Track Your Performance: Monitor your profitability and consistency over several months. A good benchmark is maintaining a positive return for at least 6–12 consecutive months. Seek Feedback: Connect with seasoned traders to refine your approach and gain insights from their experiences. Pro Tip: When you’re consistently profitable, gradually increase your trading size. Avoid the temptation to jump into forex trading full-time without sufficient proof of concept.Key Takeaway: Treat part-time trading as your proving ground. Full-time trading success requires proven consistency and resilience. Avoiding Common Pitfalls The journey to becoming a professional trader is filled with potential pitfalls. Here’s how to sidestep some of the most common mistakes: Falling for Get-Rich-Quick Schemes: Trading is a profession, not a shortcut to wealth. Success requires dedication, patience, and hard work. Overleveraging: Using excessive leverage can amplify losses and wipe out your capital. Trade with manageable position sizes. Neglecting Education: Markets evolve, and continuous learning is essential to stay ahead. Invest in your education regularly. Conclusion: Plan and Prepare for Long-Term Success Becoming a successful full-time trader is a rewarding yet challenging journey. By following this 5-step trading checklist, you can lay the groundwork for a successful trading career: Build a solid knowledge base. Develop and refine a personalized trading strategy. Ensure financial stability with a robust safety net. Cultivate emotional discipline to handle the highs and lows of trading. Prove your readiness through part-time trading before making the leap. Remember, trading success isn’t just about making money—it’s about maintaining a sustainable, balanced approach that aligns with your life goals. Equip yourself with the right tools, mindset, and preparation, and you’ll be well on your way to thriving as a full-time professional trader.Take your time, plan meticulously, and stay committed to your journey. Success in trading is a marathon, not a sprint. Start your preparation today!

Day trading is one of the most demanding and rewarding forms of trading. It requires precision, quick decision-making, and emotional control. After years of trading experience, I’ve learned that success in day trading is not just about using the latest tools or having the most complex strategies. It’s about mastering the core principles that can make you a more consistent and profitable day trader.Here are the 5 powerful secrets that have helped me achieve success in day trading strategies. Whether you’re a beginner or an experienced trader, these insights will refine your approach and help you stay on track toward consistent profitability. Pattern Recognition: A Game-Changer One of the most valuable skills in successful day trading is the ability to recognize and trade patterns. Why? Because patterns repeat over time due to human psychology. People’s reactions to certain price movements are often predictable, and these repeating patterns can provide a high probability of success when traded properly. Why Patterns Work: Patterns emerge because traders are driven by emotions—fear, greed, and uncertainty—which cause repetitive behaviors. Once you start recognizing these patterns, you’ll notice that price action trading tends to behave similarly in comparable situations. How to Master Patterns: Save Charts Daily: Track charts of your favorite instruments regularly. Analyze them and categorize the patterns you see. Build Familiarity: The more you study and recognize patterns, the more comfortable you’ll become in executing trades based on them. Consistency is Key: With repeated practice, pattern trading becomes second nature, enabling you to make quicker and more confident decisions. Key Takeaway: Mastering patterns is essential. Develop a habit of charting and reviewing regularly to boost your trading skills. Rule-Based and Discretionary Trading Successful intraday trading strategies combine strict rules with discretionary decision-making. A structured approach keeps emotions in check, while the ability to make discretionary decisions allows you to adapt to dynamic market conditions. Avoiding FOMO (Fear of Missing Out): Never chase trades. Stick to your pre-defined price levels and trade only when the setup matches your strategy. Minimalist Approach: Focus on quality trades, not quantity. Overtrading leads to emotional burnout and poor decision-making. Patience Over Action: Patience is Key: Day trading for beginners isn’t about being in the market all the time. It’s about waiting for the right opportunity, making an entry when the odds are favorable, and executing an efficient exit. Emotionally Stable: By limiting the number of trades and focusing on high-probability setups, you maintain emotional stability, which improves overall profitability. Key Takeaway: A mix of strict rules and flexible decision-making creates a balanced and disciplined approach to day trading success. Knowing Your Instruments Inside Out Success in day trading stocks doesn’t come from trading every instrument under the sun. It comes from specializing in a few that you understand deeply. By focusing on a limited number of instruments, you gain an edge because you become familiar with their behavior and nuances. The Power of Familiarity: Consistently trading the same instruments helps you anticipate their moves with greater accuracy. You start to understand how they react to market conditions, making their movements more predictable. Expert Inspiration: Renowned traders like Oliver Velez have focused their attention on a select group of instruments, often mastering just a few. You can adopt a similar approach by sticking to a handful of stocks, ETFs, or currencies. How to Build Expertise: Track and analyze the price movements of your chosen instruments. Refine your strategy to maximize profits and minimize risks. Key Takeaway: Specialize in a few instruments to become an expert. Mastering their movements gives you a significant edge over other traders. Personal Growth and Emotional Discipline The most crucial factor for day trading profitability isn’t technical—it’s personal. Your trading results mirror your personality and emotional responses. If you struggle with impulsiveness or ego, it will show in your trades. Self-Improvement: In the early stages of my career, I struggled with impatience and ego, leading to impulsive decisions. However, recognizing these weaknesses allowed me to work on becoming a more disciplined trader. Overcoming Emotional Barriers: Humble Yourself: Accept that not every trade will be a winner, and avoid the temptation of revenge trading. Patience and Discipline: Work on cultivating humility, patience, and emotional control. Emotional Neutrality: If a stop-loss is triggered, don’t take it personally. Key Takeaway: Personal growth is essential for long-term trading success. Mastering Price Action Over Indicators In my early trading days, I heavily relied on indicators, but I quickly realized that price action trading strategies are far more powerful. Indicators, while helpful, are often lagging and can cloud your decision-making process. Why Price Action Rules: Real-Time Market Sentiment: Price action charts show how the market feels right now, reflecting real-time sentiment rather than relying on historical data. Minimalist Charts: Use simple candlestick charts, support and resistance levels, pivot points, and occasionally moving averages. Additional Tips for Day Trading Success: Avoid Averaging Losses: Don’t add to losing trades. Risk-Reward Ratio: Stick to a 1:2 risk-reward ratio for each trade. Respect the Profession: Day trading is a serious business. Key Takeaway: Master price action and use a minimalist chart setup to focus on what truly matters—the price movement and market structure. Conclusion: Day trading success is not about constantly making trades or following complex strategies. It’s about discipline, focus, and emotional control. By mastering pattern recognition, following rule-based trading, specializing in a few instruments, working on your personal growth, and focusing on price action, you set yourself up for consistent profitability.Trading is not just about technical knowledge; it’s about aligning your personality with the demands of the market.

Over the years, I have explored more than 100 trading books, some of which were excellent, while others were less impactful. However, a select few have truly transformed my approach to stock trading. As a day trader, the following five books have played a significant role in shaping my trading career. These books can help you build a solid foundation, refine your strategies, and overcome psychological hurdles in trading. Let’s dive into the must-read books that will elevate your trading journey. Secrets of a Pivot Boss by Franklin O. Ochoa Why It Stands Out: “Secrets of a Pivot Boss” is the ultimate guide for traders eager to master the power of pivot points—a crucial tool for understanding market trends and support/resistance levels. This book was a game-changer for me when I first started using pivots in my strategies. Pivot Points & CPR: Introduced me to the concept of Central Pivot Range (CPR) and its applications, which revolutionized my market analysis. Market Profile & Volume Profile: The book provides in-depth coverage of these advanced techniques, which helped me better understand market behavior and refine my entry/exit strategies. Backtesting: I was able to backtest these concepts using historical data from the Indian market, which further solidified my strategies and helped me make more confident decisions. If you’re serious about trading with pivots and want to take your trading to the next level, this book is a must-read. How to Make Money in Intraday Trading by Ashwani Gujral Ashwani Gujral, a well-known Indian trader, shares straightforward and effective intraday trading methods in this book. It’s a great choice for beginner traders, especially those focused on the Indian stock market.Key Takeaways: Simplified Concepts: Ashwani does an excellent job of breaking down intraday trading concepts into simple, actionable steps. This makes it accessible even for beginners. Pivot Points & Moving Averages: Like “Secrets of a Pivot Boss,” this book emphasizes the use of pivot points, candlestick patterns, and moving averages, which aligns with my own trading approach. Practical & Budget-Friendly: This book offers practical advice without overwhelming you with complicated technical terms, making it a great resource for traders looking to build a solid foundation in intraday strategies. This book is a perfect complement to the techniques introduced in “Secrets of a Pivot Boss.” It will help you get a strong grasp of intraday trading strategies and how to implement them effectively. Market Wizards by Jack D. Schwager “Market Wizards” is often considered the bible of trading. This classic compiles interviews with some of the most successful traders in the world. The book offers a wealth of insights, strategies, and psychological wisdom, making it an invaluable resource for both new and experienced traders.Highlights: Elite Traders’ Strategies: The book shares trading strategies from legendary traders, providing a glimpse into their minds and how they approach the markets. Risk Management & Psychology: It dives deep into risk management principles and how top traders manage the emotional and psychological challenges of trading. Diverse Approaches: It showcases a variety of trading styles, from technical analysis to fundamental strategies, giving you a broader perspective on how different traders achieve success. Whether you’re just starting or you’ve been trading for years, “Market Wizards” provides priceless lessons on resilience, discipline, and the mindset needed to thrive in the markets. Profiting from Every Trade by Oliver Velez Oliver Velez is a renowned day trader known for his precision and expertise in trading the market’s opening hours. This book offers a comprehensive look at his strategies, particularly focusing on price action and candlestick patterns.Why It’s Valuable: Price Action Mastery: The book emphasizes the importance of price action and candlestick patterns, two essential components in any trader’s toolkit. Two-Minute Charts: Velez’s approach focuses on short-term charts (like two-minute charts), which is ideal for day traders who rely on fast, accurate decision-making. Complementary to Pivot Points: The techniques discussed in this book align well with the strategies I learned in “Secrets of a Pivot Boss,” particularly when it comes to using price action in conjunction with pivots. This book is perfect if you’re looking to sharpen your skills in candlestick patterns, moving averages, and price action. It provides actionable strategies that can be used immediately to improve your trading. Trading in the Zone by Mark Douglas When I first picked up “Trading in the Zone,” I expected it to focus on technical trading strategies. However, I soon realized it’s a profound exploration of trading psychology. Initially, I didn’t fully appreciate the importance of this book, but after facing emotional challenges in my own trading, I revisited it—and it changed my perspective.Key Lessons: Random Distribution of Wins and Losses: The book emphasizes that wins and losses are random within a defined edge, meaning that you don’t need to predict the future to succeed. Trading Psychology: The book helps you understand the mental challenges traders face—fear, greed, impatience—and how to overcome them. Emotional Discipline: It teaches how to develop emotional control, which is often the difference between a successful trader and one who struggles. If you find yourself struggling with emotional decisions or you’re constantly chasing the market, this book is a game-changer. It will help you develop the mental discipline necessary for long-term success in trading. Conclusion: These five books have had a profound impact on my trading journey. Each one provides a unique perspective, whether it’s mastering technical analysis, developing a solid strategy, or understanding the psychology behind trading. Together, they cover the essential pillars of successful trading—risk management, psychological discipline, and robust strategies. While these books are my personal favorites, there are countless others that can offer valuable insights. The key to success in trading lies not just in accumulating knowledge but in continuously applying and refining what you learn.I encourage you to explore these books, implement their teachings, and share your own recommendations. Trading is a lifelong learning journey, and these books have helped me elevate my career to new heights.

Day trading in India offers exciting opportunities for those seeking financial independence, flexibility, and the chance to be their own boss. With just a laptop and an internet connection, anyone can start online trading from anywhere in the world. However, it’s important to understand that day trading is not as simple as it may seem. It’s a skill that requires strategy, discipline, and consistent effort. If you aspire to become a professional trader, here are five essential steps that can guide you on your journey. Step 1: Treat Trading as a Business, Not a Gamble The first step to becoming a successful trader is adopting the right mindset. Day trading in India is not a “get-rich-quick” venture; it’s a serious profession that requires focus, planning, and persistence.Many traders fail because they approach the market with a gambling mindset, hoping for quick profits without a solid strategy. Statistics show that 90% of traders lose money, and only 10% succeed. Understanding that losses are part of the process and not treating them as failures is crucial. Instead, view losses as business expenses, and use them as learning opportunities to refine your strategies.Key Insight:Treating trading as a business means setting up proper systems, keeping track of your profits and losses, and having a clear plan in place. Make sure your profits (revenue) exceed your losses (expenses), and be realistic about your expectations. Step 2: Develop a Robust Trading Strategy A well-crafted, back-tested strategy is the backbone of professional day trading. A strategy doesn’t need to be overly complex. In fact, some of the most effective strategies are simple, focusing on basic tools like support and resistance levels, pivot points, and price action. Choose a strategy that aligns with your trading style and interests, and then thoroughly test it. It’s vital to back-test your strategy using historical data for 6 to 12 months to gauge its effectiveness before applying it in real-time trading.Example Strategy: One popular strategy for day trading is pivot points and CPR (Central Pivot Range) combined with price action. This strategy is easy to learn and can yield significant results when executed with discipline.However, even the best strategy can fail without proper risk management and psychological discipline. It’s essential to consistently apply your strategy and make adjustments as you gain more experience. Step 3: Commit to Lifelong Learning and Market Research Becoming a professional trader requires continuous learning. Markets are dynamic, and strategies that work today may not be as effective tomorrow. As a trader, you must commit to staying updated with market trends, news, and new techniques.Educate yourself regularly. Treat trading as if you’re preparing for an exam—study extensively, practice through back-testing, and engage in market research.Ways to Learn: Read Books: Books on technical analysis, trading psychology, and market strategies are invaluable resources. Follow Experts: Follow experienced traders on social media platforms like Twitter, LinkedIn, or YouTube. Engaging with other traders will give you fresh perspectives and new insights. Join Communities: Participate in online forums or local trading communities. Exchanging ideas and discussing strategies with others will help broaden your knowledge. In addition to theoretical knowledge, practice and research in real market conditions are crucial. Dedicate time daily to refining your skills. Step 4: Implement Strict Risk Management Risk management is the cornerstone of any successful trading career. Without it, even the most effective strategy can lead to significant losses. To be a professional trader, you must know how to protect your capital, as preserving your account balance is more important than making a profit in every trade.Key Risk Management Tips: Always Set Stop-Loss (SL): Never enter a trade without determining your stop loss first. Typically, your stop-loss should be no more than 1% of your total capital for each trade. Risk-Reward Ratio: Aim for a risk-reward ratio of at least 1:2. This means for every 1% you risk, aim to gain 2%. Avoid Overleveraging: Don’t use excessive leverage, as it can magnify both profits and losses. Use leverage cautiously, and only if you have a proven strategy. Consistency is Key: Always follow your risk management rules, regardless of market conditions. This will ensure that you don’t take unnecessary risks that could harm your long-term trading prospects. By sticking to a strict risk management plan, you can limit your losses and maintain a stable capital base. Step 5: Master Trading Psychology Trading psychology is often the most underrated aspect of becoming a successful day trader. It’s not just about strategies and numbers; emotional control plays a massive role in your decision-making process. Without proper discipline and mental resilience, it’s easy to fall into common psychological traps.Common Psychological Pitfalls: Overtrading: Trading too frequently can lead to emotional exhaustion and poor decision-making. Always wait for the right setup rather than forcing trades. Revenge Trading: After a loss, some traders feel the urge to make up for it by taking high-risk trades. This often leads to bigger losses. FOMO (Fear of Missing Out): Sometimes, traders feel compelled to enter a trade simply because they fear missing out on potential profits. This leads to impulsive decisions that deviate from their strategy. To combat these pitfalls, focus on building mental discipline. Practice patience and stick to your plan. Books like “Trading in the Zone” by Mark Douglas are excellent resources for improving your emotional control and mental discipline. The ability to maintain a calm mindset, even after losses, is a trait that separates successful traders from those who struggle. Conclusion: Can You Succeed as a Trader? Becoming a professional trader in India is possible, but it requires hard work, continuous learning, and the ability to stay disciplined. Success is not about making a quick profit, but about developing and executing a plan that works over the long term.By treating trading as a business, developing a proven strategy, committing to lifelong learning, implementing strict risk management, and mastering trading psychology, you’ll significantly improve your chances of success.What You Need: Passion & Dedication: Trading is not a hobby, it’s a profession. Dedicate time, effort, and resources