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Everyone has celebrated the ‘Navratri’ festival for nine days. Each day of Navratri has taught us the following useful lessons. Implement these lessons in your trading to achieve stability in your share market career.
Day 1 - We have celebrated the day with yellow color and yellow denotes Optimism. Be optimistic & trade wisely! The ups & downs of the stock market should not discourage you from trading. This will help you trade better and gain maximum benefits.
Day 2 - We have celebrated the day with green color and green denotes growth. Aim for financial growth & build your portfolio! While trading, do thorough research & focus on the companies that have potential. After all, your portfolio growth determines your financial growth!
Day 3 - We have celebrated the day with grey color and grey denotes balance. Maintain a balance between risk & reward! While trading, having a balance between risk & reward is very important to meet your financial goals.
Day 4 - We have celebrated the day with orange color and orange denotes confidence and discipline. Be confident & disciplined while trading! Build Discipline and Confidence because these are the most important qualities required while taking trading decisions. Analyze your current status and take decisions accordingly. Discipline means self-control. Suffer the pain of discipline or suffer the pain of regret.
Day 5 - We have celebrated the day with white color and white denotes precision. Take trading decisions precisely! Precision is very important when you make trading decisions as it affects your portfolio. We advise you to use TALKDELTA Option Hedging software as it accurately does position analysis and gives precise values of required fields.
Day 6 - We have celebrated the day with red color and red denotes boldness. Be bold & avoid herd mentality! While trading, never follow the herd mentality. Don’t run behind the temporary trend instead, do proper research and make decisions accordingly.
Day 7 - We have celebrated the day with blue color and blue denotes trust. Trust your instincts while trading! It is always important to research the stock you are trading & trust your instincts. Instincts never betray but the only condition is to decode your instincts correctly.
Day 8 - We have celebrated the day with pink color. The pink color is considered auspicious on this day as it depicts hope, self-refinement, and social upliftment. When one starts losing in the stock market, emotions start taking over. You should not let this happen & should control your emotions to avoid panic. Be hopeful and trade with positivity.
Day 9 - We have celebrated the day with purple color and purple denotes stability. Try to achieve financial stability! Everyone wants to achieve financial stability in their life. And to do the same you should mix and match different types of trades to gain maximum profit.
Day 10 - Dussehra - Burn the devil habits which are harmful to your trading and your share market success. This festival is all about good winning over evil. Similarly, we should also consider leaving our evil financial habits and start working on correcting them. Here are three valuable financial lessons that we can learn from Dussehra.
Celebrate this Dussehra with the resolution of opting for good financial habits!
Begin with the fresh outlook
Dussehra is also known as Vijayadashmi and marks new beginnings for many endeavors. Analogous to this tradition we can start financial planning sincerely. As finance is one of the important assets of our lives, decisions related to financial matters cannot be taken on impulse and are best made when already planned. Early financial planning can bring benefits, because well-planned small savings, with the incremental value of compounding, can give the best returns. In the past, you may have taken wrong financial decisions; on Dussehra burn this negativity and start planning your finances with a fresh and stable mindset.
Get Disciplined with Finances
There is a tradition of fasting for nine days during Navratri. This tradition of ours is to teach us dedication and discipline. In the same way, be disciplined with your finances and well plan your spending and saving to achieve your monetary goals.
Set Goals
Your goals are the road map to show you what is possible for you in life. Setting a goal is the first step in turning the invisible into the visible. Therefore, it is very essential to set the goal. Lord Shriram and Hanuman had set a goal, planned towards it, and acted according to their goal to destroy the devil Ravana. Because of goal setting we all are now able to celebrate Dussehra (Vijayadashami). Just like that, set goals and take action according to the direction of your goal. Financial success is all about the direction of your efforts.
Get rid of bad decisions
Dussehra is celebrated by burning the Ravana as Ravana symbolizes the bad. You also should burn your previous bad decisions. Review your portfolio and rearrange the same for a better financial plan than the one you have. Costly insurance can be replaced for cost-effective and appropriate policy. You can sell any bad investments to stop further loss. Whatever be the intensity of the bad financial decision the essence is to let the bad be burnt so that good can come into our financial plan. Because in the long run bad never becomes beneficial.
So, this Dussehra (Vijayadashmi) let the good win over the bad for healthy and prosperous financial health through good financial planning and burning bad financial habits. Hope you will learn these good things this Dussehra. With this, we wish you a very happy and prosperous Dassehra!