How does 30 days challenge help in trader psychology?
Join FYERS Community to pick others' brains on Trading/Investing
First of all Rs. 1,000 Net profit is nothing in this word for the straight 30 trading sessions. Most of the traders especially scalpers want a platform where they can rid out of the Brokerage charge. Then 1 day I am scrolling on YouTube and found FYERS 30 Day Challenge videos and after that i was very keen to open an account here on the platform. That's totally a great initiative and joyful trading facilities that the brokerage house is providing.
FYERS Team kindly launch more challenges which the enhance youth to trade and learn Stock market.
Purely helps in building the trader psychology that at the end of the 30 days challenge we need to have a net profits of 1000 or more.
By taking up this challenge one can learn
- how to divide his trades and can set a break even that if he does this much amount of profit/loss per day he will not over trade and follow the same rules the next day. However, if he does an over trade that means he is not mentally strong and is getting greedy to win the challenge.
- One should plan there trades before they take up the challenge and stick to the plan until the end off the 30 days challenge.
I feels Fyers is doin a good job by providing the trades the brokerage refund. This brokerage refund will motivate the trades and will help this be more stick in the market. Even Zerodha has 60 days challenge but they do not provide the brokerage refund, this will only lead to take up the challenge but do not get any motivation to complete it. Here in Fyers they provide brokerage refund up to 5000 rupees this is not a small amount for a retail traders like us. I feel Fyers will come up with such more products in the future and will continue to help the trades and investors in the future!