One of the Greatest Lessons to Learn from an Ancient Hindu Epic — Mahabharata
For those who need an introduction to the Mahābhārata, according to Wikipedia, it is one of the two major Sanskrit epics of ancient India, the other being the Rāmāyaṇa. It narrates the struggle between two groups of cousins in the Kurukshetra War and the fates of the Kaurava and the Pāṇḍava princes and their successors. (Source: Wikipedia)
What does Mahabharata have to do with Stock Trading?
I believe Mahabharata is outstanding philosophical writing where anyone can derive their interpretation based on their life’s experiences. The frame of mind through which one approaches Mahabharata defines what they perceive from it.
I came across a Twitter feed explaining how Abhimanyu knew how to enter the Chakravyuha, only to get trapped as he did not know how to exit. On the 13th day of the war, the army of Kauravas, under Dronacharya, formed Chakravyuha. Abhimanyu knew how to enter it but didn’t know how to exit. He went into the trap, followed by his paternal uncles. Though Abhimanyu killed many warriors, after reaching the center of the trap, he dies in a battle grossly outnumbered.
Newbie stock traders should never jump into the Chakravyuh of the stock market, anticipating a victory on every trade. Stock trading is akin to the battle of Kurukshetra, where the Whales and Sharks of wall street are ready to trap you in their Chakravyuh. Thus, it is essential to have a proper trading strategy and a strict plan. One must never enter the Chakravyuh without an exit strategy. Most traders jump into every possible trade and sit over losses hoping that the stock will recover.
Eager to Jump in & Unable to Get out — A common Stock Trader’s Mindset!
Thus, though Abhimanyu is one of the greatest warriors, there is always a Chakravyuh waiting to knock him down as he does not have an exit strategy.
If you are new to stock trading or getting killed in Chakravyuh — here are my 8 Killer Steps that Make You a Successful Stock Trader!