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Top 5 Skills traders can learn from Bhagvad Gita

Gita has timeless relevance applicable to all times anywhere. Today, Management Gurus are using the lessons from Gita effectively. Trading is nothing less than managing a good business. 

Thus, we traders can also learn many things from it, that's quite relevant to our trading context. Trading is nothing but our thought process. Once you check your thoughts you could be a successful trader for sure.
Krishna and Arjuna

Here is something that we, traders, can learn and impart it in our day to day trading.

कर्मण्येवाधिकारस्ते मा फलेषु कदाचन। मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि।
कर्तव्य-कर्म करनेमें ही तेरा अधिकार है, फलोंमें कभी नहीं। अतः तू कर्मफलका हेतु भी मत बन और तेरी अकर्मण्यतामें भी आसक्ति न हो।
One of the prevalent problems of many traders is that they think about the profit. But they forget the action required to bag that profit. The first and foremost duty for any trader should be learning, researching and trading with keeping risk and reward ratio in check and must delude the profit and loss. As a trader, you cannot decide the profit and loss. It is not in your control. What you have in your control is learningresearching and finding opportunity for good trades.
Traders who thought only about profit, creates anxiety, which leads them towards fear and then fear takes over the mind. A fearful mind is prone to take wrong decisions or sticks you in a dilemma of making decisions or not making decisions.
त्रिविधं नरकस्येदं द्वारं नाशनमात्मनः । कामः क्रोधस्तथा लोभस्तस्मादेतत्त्रयं त्यजेत्‌ 
हे अर्जुन! जीवात्मा का विनाश करने वाले काम, क्रोध और लोभयह तीन प्रकार के द्वार मनुष्य को नरक में ले जाने वाले हैं, इसलिये इन तीनों को त्याग देना चाहिए!
This verse comes handy for those who are suffering, from greed, expectation and fear. The verse explains greed and fear are a destroyer of human. It can also destroy your trading mindset. Greed drives you to hold on winning trades more than required. Sometimes make you over trade.
The expectation holds you back to book your small losses that turns a big ditch of losses, finally you close the trade in big red forcefully. As a trader, you should never give a space for these types of emotions that kills.

सत्त्वानुरूपा सर्वस्य श्रद्धा भवति भारत। श्रद्धामयोऽयं पुरुषो यो यच्छ्रद्धः स एव सः।।
हे भारत! सभी मनुष्यों की श्रद्धा उनके अन्तःकरण के अनुरूप होती है। यह पुरुष श्रद्धामय है, इसलिए जो पुरुष जैसी श्रद्धावाला है, वह स्वयं भी वही है॥
Trading = 70% Psychology + 30% Action.
A successful trader can never discard the role of his mindset during his trades. The trading psychology is developed through your behaviour that creates action and action leads you towards success. So, what you believe, it is going to reflect in your trades. If you are a trader or wanna be a trader, and facing such issues, I would suggest you to mend your thought process first and grab the required knowledge. Your psychology motivates you for learning and learning helps you to take proper action. These all collectively help you to work sincerely for the success in your financial voyage.

हतो वा प्राप्स्यसि स्वर्गं जित्वा वा भोक्ष्यसे महीम्। तस्मादुत्तिष्ठ कौन्तेय युद्धाय कृतनिश्चयः।।

अगर युद्धमें तू मारा जायगा तो तुझे स्वर्गकी प्राप्ति होगी और अगर युद्धमें तू जीत जायगा तो पृथ्वीका राज्य भोगेगा। अतः हे कुन्तीनन्दन! तू युद्धके लिये निश्चय करके खड़ा हो जा।

When you spin a coin, it can turn any side might be head or tail. No matter how many times you spin it, you will get either head or tail. These are the certain outcomes. Same ways, when you take trades there could be two outcomes - profit or loss. You cannot abort one side of a rolling trade.
What you can do is you can manage these things with the help of your Risk management and money management. Accept all - either loss or profit because whatever is happening, it happens for good - to make you profit or make you learn. Just focus on your current trades - and let market rolls.
धूमेनाव्रियते वह्निर्यथादर्शो मलेन च। यथोल्बेनावृतो गर्भस्तथा तेनेदमावृतम् ॥
जिस प्रकार धुएँ से अग्नि और धूल से दर्पण ढक जाता है तथा जिस प्रकार गर्भाशय से गर्भ ढका रहता है, उसी प्रकार कामनाओं से ज्ञान ढका रहता है।
The common mindset of every share market entrant is to make big money. Here I love to burst the myth - this is an err mind set that spring out of ignorance. As they are new they don’t know the risk involved with it. Sometimes some experienced traders also commit the same mistake - due to high expectation and greed. That keeps away from rational thinking and results in a mismatch in risk, vision, and money management. You should not go irrational because it curtains your learning and research from your trades.
The Bottom Line
There is no salvation without Karma. We must overcome inaction, indecisiveness and state of paralysis, which are diseases more dangerous than the cancer for a trader. And these can be overcome by a calculated risk. Success is directly linked to your calculated risk. 

Note that to act (karma) alone, you have the right, not the reward, in trading. Understand the spirit of karma. Krishna trained Arjuna to overcome depression /indecision /inaction. That lesson is quite relevant to day to day trading as well.

You might be interested to learn : How to select option strike for buying

What do you think about day trading? Is it difficult to survive with? Post your suggestions in the comment box.

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Top 5 Skills traders can learn from Bhagvad Gita Reviewed by Kumar Chandan on March 15, 2020 Rating: 5


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