1. Refusing to define a loss.
2. Not getting rid of a losing trade when it is obviously a loser.
3. Getting locked into a bullheaded opinion about market direction.
4. Focusing on monetary value of trade instead of market structure.
5. Revenge trading to recoup a loss.
6. Not reversing a position when the market is clearly changing direction.
7. Not following the rules of your strategy.
8. Planning for a trade and then not taking it.
9. Not acting on your intuition.
10. Giving back recent gains due to over-trading or inconsistency.
We can learn a lot from the market, and from ourselves, if we would only listen.
***Before the Trade
1. Do you know the name and numbers of all your counterparts, especially if your equipment breaks down?
2. When does your market close, especially on holidays?
3. Do you have all the equipment you’ll need to make the trade, including pens, computers, notebooks, order slips, in the normal course and in the event of a breakdown?
4. Did you write down your trade and check it to see for example that you didn’t enter 400 contracts instead of the four that you meant to trade?
5. Why did you get into the trade?
6. Did you do a workout?
7. Was it statistically significant taking into account multiple comparisons and lookbacks?
8. Is there a prospective relation between statistical significance and predictivity?
9. Did you consider everchanging cycles?
10. And if you deigned to do a workout the way all turf handicappers do, did you take into account the within-day variability of prices, especially how this might affect your margin and being stopped out by your broker?
11. If a trade is based on information, was the information known to others before you?
12. Was there enough time for the market to adjust to that information?
13. What’s your entry and exit point?
14. Are you going to use market, limit or stop orders?
15. If you don’t get a fill how far will you go? And what is your quantity if you get filled on all your limits?
16. How much vig will you be paying if you use market or limit orders and how does that affect the workouts you did knowing that if you use stops you are likely to get the worst price of the day and all your workouts will be worthless because they didn’t take into account the changing price action when you use stops, to say nothing of everchanging cycles?
17. Are you sure your equipment is as good and as fast as the big firms that take out 100 million a day with equipment that takes into account the difference between being 100 yards away from an exchange and the time it takes the speed of light to reach you?
18. Are you going to exit at a time or based on a goal? And did you take into account what Jack Aubrey always did which is to have an escape route in case all else fails?
19. What important announcements are scheduled? and how does this affect when and what kind of order to use? For example, a limit before employment is likely to be down a percent or two in a second. Or else you won’t get filled and you’ll be chasing it all day.
20. Did you test how to change your size and types of orders based on announcements?
21. What’s the money management on this trade?
22. Are you in over your head?
23. Did you consider the changing margin requirements when the market gets testy or the rules committee with a position against you increases the margins against you?
24. How will a decline in price affect your margin and did you take into account what will happen when you get stopped out because of margin?
25. What will happen if you need some money for living expense or family matters during the trade? Or if you have to buy a house or lend money to a friend?
During and After the Trade
1. What’s your game plan if it goes against you and threatens your survival?
2. Will you be able to get out? Did you take that into account in your workout?
3. More typically, what will you do if it goes way against you and then meanders back to give you a breakeven? Or if it immediately goes for you or aginst you?
4. Would you be willing to take a ½% profit if you get it in the first 10 minutes?
5. Did you test whether taking small opportunistic profits turns a winning system into a bad one?
6. How will unexpected cardinal events affect you like the “regrettably,” or the pre-annnouncement of something you expected for the next open? And what happens if you’re trading an individual stock and the market goes up or down a few percent during the day, or what’s the impact of a related move in oil or interest rates?
7. Are you sure that you have to monitor the trade during the day? If you’re using stops, then you probably don’t have to but then your position size would have to be reduced so much that your chances of a reasonable profit taking account of vig are close to zero. If you’re using 10% of your capital on a trade, they you’ll have to monitor it for survival. But, but, but. Are you sure you won’t be called away by phone calls, or the others?
8. Are you at equilibrium in your personal life? You’re not as talented as Tiger Woods, and you probably won’t be able to handle distressed calls for money or leaks on the home front. Are you sure that if you’re losing you won’t get hit on the head with a 7-iron, or berated until you have to give up at the worst possible time?
9. After the trade did you learn anything from the trade?
10. Are you organized sufficiently to have a record of all your trades for your accounting and learning?
11. Should you modify your existing systems based on it?
12. How does recency and frequency and value affect your future?
13. Did you fit your after activities to your mojo?
14. If you made a good profit, did you take some capital out of the fray for a rainy day?
15. Have you learned to say “fair” whenevever anyone asks you how you’re doing and are you sure that you don’t spend a fortune after a good trade, and dissipate your profits with non-economic activities?
16. Is there a better use for your time than monitoring the ticks or the market every minute of the day if you do, and if you don’t, do those who do so and have much faster and better equipment than you have an insurmountable advantage against you?
Well, specs, that’s what I come up with off the top. How would you improve or augment it?
(to be contd)
TODAY’S TRADING STRATEGY
OF NIFTY FUTURES – NOV 29
`
No problem for Bears below 5820 today
If trades above 5771 a hike upto 5817-27-36
is possible.
Overall resistance @ 5878
On the other hand,
A break below 5772 leads Nifty future to 5758
Next support (after breaching 5758 decisively)
@ 5725-14
(Three consecutive closes of
NIFTY SPOT below 5727
pulls the index to
(Three consecutive closes of NIFTY SPOT below 5727
pulls the index to
5545-5500 levels very soon)
Use the levels wise and
trade to win pals.
trade to win pals.
BANK NIFTY
Buy btwn 11778-807
T1 – 11853-77
T2 – 11892- 901
T3 – 11930
Sell btwn 11682-53
T1 – 11606-583
T2 – 11569-60
T3 – 11531
SHARE TIPS TODAY (NOV 29)
1) Sell ABB @ 762
T1 – 757
T2 – 749
2) Sell LICHSGFIN @ 930
T1 – 920
T2 – 912
3) Sell RELINFRA @ 852.75
T1 – 846.10
T2 – 840.20
4) Sell MANINFRA @ 216.25
T1 – 214.25
T2 – 212.45
5) Sell SESAGOA @ 299.10
T1 – 297.10
T2 – 295.30
IMPORTANT THINGS TO BE NOTED
1. NEVER EVER COVER THE POSTION TILL TARGET1
IS ACHIEVED (TAKE YOUR OWN DECISION AFTER T1)
2.NEVER EVER ENTER INTO A TRADE
BEFORE THE ABOVE MENTIONED LEVELS
or AFTER THE TARGETS WERE ATTAINED.
3.STOPLOSS LEVELS, REVERSE TRADING
& MORE INTRADAY TIPS IN MARKET HOURS
EXCLUSIVELY TO THE SUBSCRIBERS
Disclosure:
Solely I have all the rights to stop the free trials
abruptly provided in this space at any moment.
Pls subscribe as soon as possible,
join hands with us and enjoy.
AN ASTRAL VIEW OF MARKET TODAY
Free Daily and Weekly Stock Market Prediction: 29th Nov 2010 to 3rd Dec 2010
Planetary position during November and December 2010
Sun will transit from Scorpio sign.
Mercury will transit from Sagittarius sign.
Venus will transit from Libra sign.
Moon will transit from Leo, Virgo and Libra.
Mars will transit from Scorpio sign and will
enter in Sagittarius in 30th November 2010.
Rahu will transit from Sagittarius.
Jupiter will transit from Aquarius.
Saturn will transit in Virgo.
Ketu will transit in Gemini.
Market Prediction for 29th November 2010
Transiting Moon will be passing through Leo Zodiac sign. Transiting Moon will be in semi sextile aspect with Transiting Saturn. Moon would be placed in house of Luck, which indicates it would be good day for Indian stock market. Market may do good business between 10.00 and 13.00, but after this period some selling pressure would be seen. Market trend may change after 14.45. Market would go flat/up during last treading 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
(Please refer to ‘OUR POLICIES’ before you leave the site)
For further details,
Contact Admin (Analyst) @
(0)9788563656
U.S. & SOUTH KOREA ON WAR EXERCISES
South Korea and the United States began assembling ships for joint war exercises Sunday off the west coast of the Korean peninsula in the Yellow Sea, a source at the South Korean Joint Chiefs told CNN.
The military exercises are set to begin as diplomats worked to ease tensions in the Koreas after North Korea warned of unpredictable “consequences” if the United States fulfills its vow of deploying an aircraft carrier to the Yellow Sea for joint military maneuvers with South Korea.
On Sunday, South Korean defense officials said the country had issued and lifted an order for civilians to take cover in shelters on the border island of Yeonpyeong after hearing loud noises inside North Korea that sounded like rounds of artillery firing, though no shells landed on the island.
The South Korea-U.S. military exercises are scheduled to begin at 3 p.m. Sunday (1 a.m. ET).
North Korea’s official Korean Central News Agency warned Sunday what could happen if the country perceives its waters are infringed upon.
“The DPRK [Democratic People's Republic of Korea] will deal a merciless military counter-attack at any provocative act of intruding into its territorial waters in the future,” the state news agency said.
China’s foreign minister spoke with his Russian, U.S., and Japanese counterparts, and a Chinese representative visited Seoul as envoys underscored the need to lower the temperature in the longtime flash-point region, days after four South Koreans died when North Korea shelled Yeonpyeong Island.
North Korea said the South provoked the Tuesday attack because shells from a South Korean military drill landed in the North’s waters. South Korea was holding its annual Hoguk military drill when the North started its shelling, and the South returned fire.
The KCNA has slammed South Korea and the United States for provoking the crisis.
It called reports of civilian casualties part of South Korea’s “propaganda campaign” and accused the “enemy” of creating “a human shield by deploying civilians around artillery positions and inside military facilities before the launch of the provocation.”
“If the U.S. brings its carrier to the West Sea of Korea at last, no one can predict the ensuing consequences,” said KCNA, referring to the aircraft carrier USS George Washington, which is set to join South Korea’s forces near the coasts of China and North Korea for the four-day military drill scheduled to start Sunday.
U.S. State Department spokeswoman Nicole Thompson called the claims “outrageous.”
“This is just another example of North Korea’s own internal propaganda. The North Koreans for many years, including the Cheonan warship incident, have taken provocative action. This didn’t have anything to do with U.S. actions,” Thompson told CNN, referring to the sinking of a South Korean ship in March that left 46 people on board dead.
The United States and South Korea blame the sinking on the North, which has consistently denied responsibility.
Diplomats, seeking a lessening of tensions and a return to the six-party talks with North Korea over the country’s nuclear aspirations, have busily labored to avert more hostilities. The United States, China, Japan, Russia, South Korea and North Korea are the six countries that have been involved in the talks, which were put on hold in 2008.
“These parties should call on the DPRK and South Korea to exercise calmness and restraint and hold dialogue and make contacts, and not to take actions that would escalate the conflict,” China’s official Xinhua news agency quoted Chinese Foreign Minister Yang Jiechi as saying. China is North Korea’s largest trading partner.
Yang and Russian Foreign Minister Sergey Lavrov “stressed the need to prevent the situation from exacerbating and to work toward relieving the tensions,” according to the Russian Foreign Ministry.
Xinhua reported that Japanese Foreign Minister Seiji Maehara said his country “is willing to work together with China to joint safeguard peace and stability on the Korean peninsula.”
And a Twitter message from U.S. State Department spokesman P.J. Crowley said Secretary of State Hillary Clinton spoke with Yang on Friday and “encouraged Beijing to make clear that North Korea’s behavior is unacceptable.”
Meanwhile, Dai Bingguo, a Chinese state councilor, sat down with South Korean Foreign Minister Kim Sung-hwan in Seoul to discuss the tensions.
The violence has sparked anger and political turmoil in South Korea. The country’s defense minister, Kim Tae-young resigned after the exchange of fire, and veterans of the South Korean military protested Saturday on the streets of Seoul, stating they were angry that their country’s government had not done enough to respond to the North’s shelling.
One group of protesters gathered near the defense ministry building Saturday, clashing with police officers with some charging and kicking officers.
Two South Korean marines were among the four killed in the shelling. Hundreds of mourners attended their nationally televised funeral Saturday, weeping before photos of the two men set among an array of flowers.
As for Sunday’s joint military exercises, China appeared to criticize them Friday and Chinese analysts warned against the United States and South Korea embarking on “sensitive and provocative military actions.”
“We oppose any party to take any military acts in our exclusive economic zone without permission,” Foreign Ministry spokesman Hong Lei said in a statement, Xinhua reported.
But the United States has described the drill as defensive in nature. The exercises were planned months ago, and are meant to underscore strong ties between South Korea and the United States, defense officials from both countries have said.
There will be no live firing element in the drills. Live firing exercises can only take place in a designated training range or in a closed-off area at sea, said Cmdr. Jeff Davis, public affairs officer for the U.S. 7th Fleet. Such firing exercises are not possible given the amount of traffic in the area, he said.
The drills will include anti-air-attack and anti-surface-attack exercises, communications and data drills, expert exchanges, logistical support, and replenishment drills. For example, a Korean oil tanker will refuel a U.S. ship, Davis said.
But the prospect of more violence has prompted alarm across the region. Japan’s Kyodo news agency reported that Japanese “Cabinet members have been ordered to stay in Tokyo until Wednesday and be at their ministry offices within an hour in the event emergency situations develop.”
The tense maritime border between the two Koreas has become the major military flash point on the Korean peninsula in recent years.
The Yeonpyeong attack was the first direct artillery assault on South Korea since 1953, when an armistice ended fighting, though both Koreas are still technically at war.
TRADING
Rule #1
Be data centric in your approach:
Rule #2
Be disciplined: The data should guide you in your decisions. This is the only way to navigate a potentially hostile and fearful environment.
Rule #1
Be data centric in your approach:
Take the time and make the effort to understand what works and what doesn’t. Trading decisions should be objective and based upon the data.
Rule #2
Be disciplined: The data should guide you in your decisions. This is the only way to navigate a potentially hostile and fearful environment.
Rule #3
Be flexible: At first glance this would seem to contradict Rule #2; however, I recognize that markets change and that trading strategies cannot account for every conceivable factor. Giving yourself some wiggle room or discretion is ok, but I would not stray too far from the data or your strategies.
Be flexible: At first glance this would seem to contradict Rule #2; however, I recognize that markets change and that trading strategies cannot account for every conceivable factor. Giving yourself some wiggle room or discretion is ok, but I would not stray too far from the data or your strategies.
Rule #4
Always question the prevailing dogma: The markets love dogma. “Prices are above the 50 day moving average”, “prices are breaking out”, and “don’t fight the Fed” are some of the most often heard sayings. But what do they really mean for prices? Make your own observations and define your own rules. See Rule #1.
Always question the prevailing dogma: The markets love dogma. “Prices are above the 50 day moving average”, “prices are breaking out”, and “don’t fight the Fed” are some of the most often heard sayings. But what do they really mean for prices? Make your own observations and define your own rules. See Rule #1.
Rule #5
Understand your market edge: My edge is my ability to use my computer to define the price action. I level the playing field by trading markets and not companies.
Understand your market edge: My edge is my ability to use my computer to define the price action. I level the playing field by trading markets and not companies.
Rule #6
Money management: Money management. Money management. It is so important that it is worth saying three times. There are so few factors you can control in the markets, but this is one of them. Learn to exploit it.
Money management: Money management. Money management. It is so important that it is worth saying three times. There are so few factors you can control in the markets, but this is one of them. Learn to exploit it.
Rule #7
Time frame: Know the time frame you are operating on. Don’t let a trade turn into an investment and don’t trade yourself out of an investment.
Time frame: Know the time frame you are operating on. Don’t let a trade turn into an investment and don’t trade yourself out of an investment.
Rule #8
Confidence and conviction: Believe in your strategies and bet wisely but with conviction. There is nothing more frustrating than having a good strategy work as you expect, yet at the end of the day, you have very little winnings to show for your efforts.
Confidence and conviction: Believe in your strategies and bet wisely but with conviction. There is nothing more frustrating than having a good strategy work as you expect, yet at the end of the day, you have very little winnings to show for your efforts.
Rule #9
Persistence: It takes persistence to operate in the markets. Success doesn’t come easy, and if it does, then I would be careful. Even the best strategies come with losses, and they always seem to come when you get the nerve to make the big bet. Stay with your plan. If you have done your home work, the winning trades will follow.
Persistence: It takes persistence to operate in the markets. Success doesn’t come easy, and if it does, then I would be careful. Even the best strategies come with losses, and they always seem to come when you get the nerve to make the big bet. Stay with your plan. If you have done your home work, the winning trades will follow.
Rule #10
Passion: In the end, trading has to be about your bottom line, but you have to love what you do and no amount of money is worth it if you aren’t passionate about the process. No matter how much success you enjoy, in the markets you can never stop learning.
Passion: In the end, trading has to be about your bottom line, but you have to love what you do and no amount of money is worth it if you aren’t passionate about the process. No matter how much success you enjoy, in the markets you can never stop learning.
Rule #11
Take care of yourself: No amount of money is worth it if your health is failing or you have managed to alienate yourself from family and friends in the process.
Take care of yourself: No amount of money is worth it if your health is failing or you have managed to alienate yourself from family and friends in the process.
ED SEYKOTA - The jadeMaster
Lots of people go into trading as a way to get rich quick. The fact is that rarely if ever will happen. Trading is a career and a life-long study. The markets are always changing, and they are always the same. I have invested so much time, money, and study into trading. To excel in trading requires extremely hard work and discipline. The same combination required for excellence in any field.
If you knew that is not way to fail in trading, how hard would you like to work on it? Would you ever quit?Seykota is considered to be one of the best traders to ever live. The following story helped me immensely and I think of it often, very often.
The Jademaster
“Yes?”
“I want to learn about Jade.”
“Very well then, come in out of the cold.”
They sit by the fire sipping hot green tea. The Jademaster presses a green stone deeply into the young man’s hand and begins to talk about tree frogs. After a few minutes, the young man interrupts.
“Excuse me, I am here to learn about Jade, not tree frogs.”
The Jademaster takes the stone and tells the young man to go home and return in a week. The following week the young man returns. The Jademaster presses another green stone into the young man’s hand and continues the story. Again, the young man interrupts. Again, the Jademaster sends him home. Weeks pass. The young man interrupts less and less. The young man also learns to brew the hot green tea, clean up the kitchen and sweep the floors. Spring comes.
One day, the young man observes, “The stone I hold is not genuine Jade.”
உன்னால் முடியும் தம்பி தம்பி...
Getting tired,bored,fed up in life...?
Watch these people now
(Achieve anything through practice,so do trading)
A PERFECT SPECULATOR
MESSAGE TODAY
It is worth mentioning, for future reference, that the creative power which bubbles so pleasantly in beginning a new book quiets down after a time, and one goes on more steadily. Doubts creep in. Then one becomes resigned. Determination not to give in, and the sense of an impending shape keep one at it more than anything.
-VIRGINIA WOOLF
RELAX CORNER
JUST SMS TO YOUR PAL
If being ugly would hurt, you would be in pain
all day long.?
Love me or leave me. Hey,where is everybody going ???
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THE RECOMMENDATIONS MADE HERE DO NOT CONSTITUTE AND OFFER TO SELL OF A SOLICITATION TO BUY ANY OF THE SECURITIES/COMMODITIES OF ANY OTHER INSTRUMENTS WHATSOEVER MENTIONED. NO REPRESENTATIONS CAN BE MADE THAT THE RECOMMENDATIONS CONTAINED WILL BE PROFITABLE OF THAT THEY WILL NOT RESULT IN LOSSES. READERS USING THE INFORMATION CONTAINED HEREIN ARE SOLELY RESPONSIBLE FOR THEIR ACTIONS. SURFING OR USING ‘tradersharmony.blogspot.com' DEEMS THAT THE SURFER ACCEPTS AND ACKNOWLEDGES THE DISCLAIMERS AND DISCLOSURES.THE INFORMATION PUBLISHED ARE FOR EDUCATIONAL AND INFORMATIVE PURPOSE ONLY AND THE USER/READERS SHOULD TAKE ADVICE OF HIS/HER ADVISER BEFORE TAKING ANY DECISION FOR BUYING, SELLING OR OTHERWISE DEALING WITH SECURITIES/COMMODITIES OR ANY OTHER INSTRUMENT WHATSOEVER.
. Enjoy!