FROM AN EXPERIENCE
Trading success takes discipline, passion and continuous learning just to name a few.
One additional area that seems to be evident in all traders that keep enhancing their skills and their profits is the ability to ask good questions of themselves and then to apply the answers immediately.
To reach new goals takes new steps that must start now and are not delayed until tomorrow.
It occurs to me that the only way in which a trader can become more than a completely selfish, self-enriching, narcissistic person is to trade well enough so that you can manage other people’s money and thus saving these investors from crooks and charlatans (provided you are convinced you are not a crook and charlatan yourself).Other traders have advanced other arguments in favor of trading. But I am not convinced by them.
They say that we provide liquidity to other long-term investors who may need to liquidate their investments. But then, this applies only to mean-reversal strategies. Momentum strategies take away liquidity from the market, and in some cases exacerbating price bubbles. Certainly not something your grandma would approve.
Others argue that momentum strategies help disseminate information about companies through quick price movements. But can’t we just watch Blue Channels? Do we really need some devious insiders to convey that information to the rest of us through price movements?
No, I think that independent trading should serve only one purpose (besides short-term self-sustenance): as training and preparation to become a fund manager. Once you graduated from independent trading, you then enter into the grand contest among all fund managers to see who can best serve and protect investors’ assets, (and be rewarded according to your standing in this contest.)
I know, this is the idealistic way to look at things. Serving and protecting seem to be what policemen should be doing, not traders. But as in quantitative trading, I think it helps one becomes more successful in one’s activities by having a simple guiding principle or model. And it doesn’t hurt that in this case, the principle would also be conscience-nourishing!
WHY DO MOST TRADERS LOSE MONEY?
Because they would rather lose money than admit they’re wrong. What is the ultimate rationalization of a trader in a losing position? “I’ll get out when I’m even.” Why is getting out even so important? Because it protects the ego. I became a winning trader when I was able to say, “To hell with my ego, making money is more important.”
(to be contd)
TODAY’S TRADING STRATEGY
OF NIFTY FUTURES – OCT 28
Good resistance btwn 6115-35
If cuts 6045 with good volumes,
a hike upto 6065-74 & there after
upto 6083-91 is possible.
On the other hand if trades below
6037 & cuts 6017,
just hold your breath
and get ready for the start of a very big
Roller coaster ride.
Bcoz after breaching the final support
of 5985 an intraday slide upto
5955-25 & a brief conjecture for a bloodbath
could be written on charts by the market today.
At the same time, do not expect everything to happen in a single session.
OPTION PLAYERS
WAIT FOR MY UPDATES (JUST) FOR 24 HOURS
TAKING LONG POSITIONS IN
NIFTY FUTURES BELOW 6140 IS LIKE
NIFTY FUTURES BELOW 6140 IS LIKE
BANK NIFTY
Buy btwn 12284-304
T1 – 12336-52
T2 – 12363-69-89
Sell btwn 12217-198
T1 – 12165-49
T2 – 12138-32-12
SHARE TIPS TODAY(OCT 28)
Sell ICICIBank @ 1104
T- 1196
Sell Glaxo @ 2258
T1 – 2248
T2 – 2238
Sell Venkeys @ 826
T – 816
Sell Onmobile @ 329.9
T – 326.9
AN ASTRAL VIEW
Stock Market Prediction for 28th October 2010
Transiting Moon will be passing
through Gemini Zodiac sign.
Transiting Moon will be in tight conjunction with Transiting Ketu,
which indicates
intraday traders are advised
to enter in Market after see the
intraday traders are advised
to enter in Market after see the
Momentum. Market may volatile
during first trading session.
Market trend may change after 14.00.
during first trading session.
Market trend may change after 14.00.
Market may go up between 14.05 and 14.35.
Market may go up 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
REAL PURPOSE OF TRADING
What is the purpose of trading?
It seems clear, doesn't it? The purpose of trading is to make money. The trade is planned, entered, and exited with the goal of increasing the size of one's trading account. What other purpose would there be?
The dictionary says this about purpose:
"something set up as an object or end to be attained : intention b: resolution, determination"
What about:
The purpose of trading is to not lose money.
The purpose of trading is to practice discipline.
The purpose of trading is to use my talents.
The purpose of trading is to grow.
Or how about:
The purpose of trading is to express my true nature. I was meant to be a trader.
Maybe the purpose of trading is simply to trade. Because that is what you have been called to do, or what you are meant to do, or it's the highest expression of your nature as a producer rather than a consumer. When you trade successfully, you are disciplined, you are growing, you are using and developing your talents, you are making money, and you are creating wealth from scratch. But most of all, you are trading because it's the right thing to do for you.
It seems clear, doesn't it? The purpose of trading is to make money. The trade is planned, entered, and exited with the goal of increasing the size of one's trading account. What other purpose would there be?
The dictionary says this about purpose:
"something set up as an object or end to be attained : intention b: resolution, determination"
What about:
The purpose of trading is to not lose money.
The purpose of trading is to practice discipline.
The purpose of trading is to use my talents.
The purpose of trading is to grow.
Or how about:
The purpose of trading is to express my true nature. I was meant to be a trader.
Maybe the purpose of trading is simply to trade. Because that is what you have been called to do, or what you are meant to do, or it's the highest expression of your nature as a producer rather than a consumer. When you trade successfully, you are disciplined, you are growing, you are using and developing your talents, you are making money, and you are creating wealth from scratch. But most of all, you are trading because it's the right thing to do for you.
(Please refer to ‘OUR POLICIES’ before you leave the site)
For further details,
Contact Admin (Analyst) @
(0)9788563656
MESSAGE TODAY
Our belief at the beginning of a doubtful undertaking is the one thing that ensures the successful outcome of the venture.
-WILLIAM JAMES, The Varieties of Religious Experience
RELAX CORNER
GLOBAL WARMING JOKE
A Georgia Congressman was seated next to a little girl on the airplane leaving from Atlanta when he turned to her and said, ‘Let’s talk. I’ve heard that flights go quicker if you strike up a conversation with your fellow passenger.’
The little girl, who had just opened her book, closed it slowly and said to the total stranger, ‘What would you like to talk about?’
‘Oh, I don’t know,’ said the southern congressman. ‘How about global warming or universal health care’, and he smiles smugly.
OK, ‘ she said. ‘Those could be interesting topics. But let me ask you a question first. A horse, a cow, and a deer all eat the same stuff -grass. Yet a deer excretes little pellets, while a cow turns out a flat patty, and a horse produces clumps of dried grass. Why do you suppose that is?’
The southern legislator, visibly surprised by the little girl’s intelligence, thinks about it and says, ‘Hmmm, I have no idea.’
To which the little girl replies, ‘Do you really feel qualified to discuss global warming or universal health care when you don’t know shit?
JUST SMS TO YOUR PAL
The greatest lesson in life is to know that even fools are right sometimes
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