People often ask me, where do you think market is headed to? Will it cross XXXX level, or will it fall below XXXX level. My answer is -Why do you care? As a trader, I care only about what I would do, if markets do what I expect. Each and every day, I go in with an expectation. I have a plan in mind. I have 3-4 scenarios in mind, and an action plan for each of this scenario. Once a scenario starts to play out, there is no fear of executing the plan. Then how does it matter where the market is headed to? Wherever it goes, I will be Ready.
In trading, it is not important what the Market is going to do. The most important thing is What YOU would do if the market does as you expected. And also, what your action would be if the market does not behave on expected lines. Remember, it would not always pan out as you planned. Simply because there are infinite probabilities on how the market would unfold. Hence, if it is not moving on expected lines, Stay Out. Leave it for someone else, whose plan may be panning out.
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