MARVELOUS MONDAY

FROM AN EXPERIENCE

I ran across these rules for living, and thought they apply beautifully

to the process of trading successfully. They are as follows:

1. Show up.

2. Pay attention.

3. Live your truth.

4. Do your best.

5. Don’t be attached to the outcome.

Show up.

Woody Allen has said 90% of the story is showing up.

And I think that can be true for trading. Showing up means being

prepared and ready before the market opens. It means getting

your entry and exit orders in the market in a timely fashion.

You’ve done your research, and you’re clear about your intentions.

Pay attention.

Watch the price action. Be cognizant of what

your chosen indicators are saying. Know what news is breaking,

and watch the market’s reaction to the news. Be alert to twists

and turns in market direction. Don’t wander off mentally or

physically.

Live your truth.

Your truth could be fundamental or technical

or a combination of the two. But if you don’t trade in

accordance with your guidelines, you can get yourself on

the wrong side of the situation and yourself. Be who you

say you are as a trader. Are you honest, perceptive, courageous,

steady, and disciplined? Are you trading in the manner

you have chosen or committed to trade.

Do your best.

Honestly, all you can do is your best.

But your best can get better as you practice and learn.

Learn from your mistakes, and forgive yourself past digressions.

Each day is a new day, and each day brings new opportunities.

It’s your job to capture what you can of the opportunities even as

you rigorously protect your capital.

Don’t be attached to the outcome.

This is the hard part, and this

is the essential part. The results of any given trade or trading day

are really not indicative of whether or not you will be profitable.

One trade or

day is simply not the measure of success, and is really

irrelevant. If you’re showing up, and paying attention,

and living your viable truth, and doing your best, you can

accept whatever outcome develops. Of course, if the outcome

is disastrous over time, you need to go back to the drawing board

and develop better methods.

The rules are not hard to understand. Recognizing a profit from

a loss is simple. If the rules are easy to grasp and a profit is

distinguishable from a loss, where does the problem lie?

What makes it so hard to apply the rules? There is something

within each of us that has a power over our minds that prevents

our acting according to what we have agreed is the proper course

of action. That something is present in all of us and is very powerful,

more powerful than anything I know. Let’s call it ego.

Until we learn to get rid of our ego, we will never make money in the

market consistently. Those who haven’t identified the ego’s ways

will eventually be destroyed in the market because of their ego’s

tendencies. It is just that powerful. The market rewards those

who have subdued their egos. Those who rid themselves of their

egos are rewarded greatly. They are the superstars of their fields.

In the market, rewards come in the form of profits. In the world of

art, masterpieces are the results. In sports, the players are all-stars

and command enormous salaries. Every pursuit has its own

manifestation of victory over the ego.

(to be contd)

TODAY’S DAY TRADING STRATEGY

OF NIFTY FUTURES – OCT 25

Day Resistance exists @ 6091-101-114

If breaks a surge upto 6153 is for sure.

Otherwise

If trades below 6089, watch a decline upto

6065

If breaches 6055 too NF slides more till 6040-30

BANK NIFTY

Buy btwn 12453-74

T1 – 12507-24

T2 – 12535-42-63

Sell btwn 12383-62

T1 – 12328-11

T2 – 12300-294-73

SHARE TIPS TODAY

Sell M&MFIN @ 653.90

T1 – 648

T2 – 640

WHAT ASTROLOGY SAYS THIS WEEK?

Free Daily and Weekly Stock Market Prediction
and Forecast for October 2010 : 25th October 2010 to 29th October 2010

Planetary position during October 2010
Sun will transit from Libra sign.
Mercury will transit from Libra sign.
Venus will transit from Libra sign, Venus would retrograde.
Moon will transit from Taurus and Gemini.
Mars will transit from Scorpio sign.
Rahu will transit from Sagittarius.
Jupiter will transit from Pisces. Jupiter will retrograde.
Saturn will transit in Virgo.
Ketu will transit in Gemini.

Stock Market Prediction for 25th October 2010

Transiting Moon will be passing through Taurus Zodiac sign. Transiting Moon will be in applying aspect with Transiting Mars, which indicates uptrend in Indian Stock Market. Market may do business in green signal up to 12.00. It may notice decline from higher levels. Market may go up between 9.10 and 9.29. Market trend may change after 12.18. Market would gradually go Flat/down closing during last trading session.

Disclaimer

On repeated requests of the readers this astral prediction is started.

Traders are advised to attain some technical knowledge before they get into trades anyway

-EDITOR

GOLDEN RULES FOR STOCK MARKET TRADING SUCCESS

Your stock trading rules are your money. When you follow your rules you make money. However if you break your own stock trading rules the most likely outcome is that you will lose money.
Once you have a reliable set of stock trading rules it is important to keep them in mind. Here is one discipline that can reap rewards. Read these rules before your day starts and also read the rules when your day ends.

Rule 1: I must follow my rules.
Naturally if you develop a set of rules they are to be followed. It is human nature to want to vary or break rules and it takes discipline to continue to act in accordance with the established rules.

Rule 2: I will never risk more than 3% of my total portfolio on any one stock trade.
There are many old traders. There are many bold traders. But there are never any old bold traders. Protecting your capital base is fundamental to successful stock market trading over time.

Rule 3: I will cut my losses at 5% to 15% when I am wrong without question.
Some traders have an even lower tolerance for loss. The key point here is to have set points (stop loss) within the limits of your tolerance for loss. Stay informed about the performance of you stock and stick to your stop loss point.

Rule 4: Never set price targets.
This is a style that will allow me to get the most out of rising stocks. Simply let the profits run. Realistically, I can never pick tops. Never feel a stock has risen too high too quickly. Be willing to give back a good percentage of profits in the hope of much bigger profits.
The big money is made from trading the really BIG moves that I can occasionally catch.

Rule 5: Master one style.
Keep learning and getting better at this one method of trading. Never jump from one trading style to another. Master one style rather than become average at implementing several styles.

Rule 6: Let price and volume be my guides.
Never listen to any opinion about the stock market or individual stocks you are considering trading or are already trading. Everything is reflected in the price and volume.

Rule 7: Take all valid signals that show up.
Don't make excuses. If an entry signal shows up you have no excuse not to take it.

Rule 8: Never trade from intra-day data.
There is always stock price variation within the course of any trading day. Relying on this data for momentum trading can lead to some wrong decisions.

Rule 9: Take time out.
Successful stock trading is not solely about trading. It's also about emotional strength and physical fitness. Reduce the stress every day by taking time off the computer and working on other areas. A stressful trader will not make it in the long term.

Rule 10: Be an above average trader.
In order to succeed in the stock market you don't need to do anything exceptional. You simply need to not do what the average trader does. The average trader is inconsistent and undisciplined. Ask yourself every day, "Did I follow my method today?" If your answer is no then you are in trouble and it's time to recommit yourself to your stock trading rules.

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Sirena Huang started taking violin lessons at age 4 and made her professional solo debut at 9 with the Taiwan Symphony Orchestra. She has won top prizes in numerous international competitions,… Full bio and more links

MESSAGE TODAY

Human beliefs, like all other natural growths, elude the barriers of system.

-GEORGE ELIOT, Silas Marner

RELAX CORNER

JUST SMS TO YOUR PAL

The IDEAL man does not smoke, does not drink, does not flirt, goes to bed early, in short ... does not exist

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