Anyone can get lucky in the short term, only good traders succeed in the long term
Don’t confuse making money in the stock market with knowing what you are doing. It is easy to get lucky on a stock or on a sector and enjoy gains that give credence to your analysis method. However, short term winners often give back all of their gains because they fail to recognize their success as luck.
Caution :Don’t Invest at these levels
Difference between winning traders and losing traders
Well, first, there are a few similarities. Both are completely consumed by the idea of trading. The winners as well as losers have committed to doing this, and have no intention of ‘going back’. This same black-and-white mentality was evident in their personal lives too. But what about the differences? Here’s what Williams observed:
The losing traders have unrealistic expectations about the kind of profits they can make, typically shooting too high. They also debate with themselves before taking a trade, and even dwell on a trade well after it’s closed out. But the one big thing Williams noticed about this group was that they paid little attention to money management (i.e. defense)
And the winners? This group has an intense focus on money management, and will voluntarily exit a trade if it’s not moving – even if it’s not losing money at that time! There is also very little internal dialogue about trade selection and trade management; this group just takes action instead of suffering analysis paralysis. Finally, the winning traders focused their attention on a small niche in the market or a few techniques, rather than trying to be able to do everything. Hopefully the second description fits you a little better, but if the first one seems a little too familiar, you now at least know how to start getting past that barrier.
DAY TRADING STRATEGY
OF NIFTY FUTURES – AUG 17
Below 5436, no bulls dare to come into the show and a slide upto 5369 is very much possible.
Suppose if crosses and trades above 5436, hike upto 5458-68 is seen on cards
Use the levels and trade.
BANK NIFTY
Buy btwn 10706-23
T1- 10750-62
T2- 10775-91
Sell @ 10637
T1- 10611-10590
T2- 10569-53
SHARE TIPS TODAY (AUG 16)
INTRADAY
SELL KHAITELE @ 110.50
T1 – 107.50
T2 – 105.50
SELL GARWSHIP @ 133
T1 – 130.50
T2 – 128.75
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-Mahindeesh (a) Sathish
Cuddalore-2
Tamil Nadu
TODAY’S QUOTE
Confidence doesn't come out of nowhere. It's a result of something... hours and days and weeks and years of constant work and dedication
-ROGER STAUBACH
RELAX CORNER
JUST SMS TO YOUR PAL
*Sardar was busy removing
a wheel from his auto.
A man asks sardar why are
you removing a wheel from your auto.
sardar : Cant you read the board.
Parking is only for 2 wheeler
*Sardar joined new job. 1st day he worked till late evening on the computer.
Boss was happy and asked “what you did till evening?”
Sardar :”Keyboard alphabets were not in order, so I made it alright”
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