FROM AN EXPERIENCE
1) Trading – Speculating – Gambling –
In the eyes of the vast majority, these things are blurred together,
and very many things that the herd get up to in the name of
“trading” is really either speculating or gambling. To that end,
much of the advice published on the subject of trading can equally
be as confused.
But not to real traders; real traders know the difference and are
very clear that what they are doing is neither speculating or
gambling. Just because you can know your risk per trade when
speculating or gambling does NOT mean you are trading.
Every game at the roulette table you can know your risk.
Think about that…
2) Real traders create and trade systems. They follow the rules
exactly because they know that to break the rules is to break
the fundamental expectation of their system which immediately
throws them back into the speculation/gambling camp.
Oh by the way, casino owners do not gamble; they trade.
Think about that too…
3) When people trade the common misconception is that they
are trading the market or taking money out of the market.
They are not. They are trading OTHER TRADERS and taking
money from OTHER TRADERS. In order for one trader to make
money another trader or group of traders needs to lose money.
This is how the market works and that is why it is a zero sum game.
If you are losing money in the market the market is not taking
your money, other traders are taking your money.
4) RISK is the possibility of loss. That is, if we own some stock,
and there is a possibility of a price decline, we are at risk.
The stock is not the risk, nor is the loss the risk. The possibility
of loss is the risk. As long as we own the stock, we are at risk.
The only way to control the risk is to buy or sell stock.
In the matter of owning stocks, and aiming for profit, risk
is fundamentally unavoidable and the best we can do is to
manage the risk.
5) One of the best ways to change our emotional state is to
pretend we already feel the way we want to feel. So if you
are feeling bored or unmotivated, simply pretend that you are
incredibly driven and really motivated to get going. If you are
feeling unhappy, then just pretend you are happy and it will
start to change.
A key to this technique working is you have to be willing to
feel a little silly at first. Smiling and laughing when we feel
lousy or walking around with our head up when we feel
nervous often feels awkward at first. However, if you can
stick with it, in a short time your emotions will start to adjust
to the physiology you are displaying.
This technique of pretending can be extended to more than
just emotional control. If you’ve been having trouble motivating
yourself to start working on a task or chore, simply start doing it.
Once you start doing it,
use this technique to put yourself into a state of confidence,
ease or happiness. Do this and you will find it is far easier to
work on a task that you normally find boring or stressful.
TODAY’S TRADING STRATEGY
OF NIFTY FUTURES – JAN 27
Day supports btwn 5664-55
Final support btwn 5636-30
To get stronger, Nifty should cross 5703
and sustain for 15-25 minutes today
Only then chances of going 5721-35 is seen
on 5 Days card.
If sustains above 5708 for 45 minutes, Nifty futures
can go upto 5765 (This would be the maximum run in
this session if it happens)
Otherwise,
Breaking all the supports mentioned above
is very much possible
What would happen if the supports are broken today??
or
Where would Nifty futures go after finding resistance
in any of the above mentioned levels?? –
Exclusively to the subscribers
in any of the above mentioned levels?? –
Exclusively to the subscribers
BANK NIFTY
Buy btwn 10971-86
T1 – 11036-62
T2 – 11077-87
T3 – 11118
Sell btwn 10840-23
T1 – 10773-48
T2 – 10732-22
T3 – 10692
SHARE TIPS TODAY (JAN 27)
1) Sell BOC @ 311.20
T1 – 308.45
T2 – 305.50
2) Sell CORPBANK @ 565
T1 – 560.50
T2 – 555.80
Disclosure:
Number of free tips is deliberately reduced.
Solely I have all the rights to stop this too
at any moment.
Subscribe as soon as possible if you want to earn more.
Join hands with us and enjoy.
* Consider 10 minutes plus and minus in each prediction, and act accordingly.
You can take a new position due to Reliance and SBI's result, national holiday on Wednesday, bank's new policy and F&O's last Thursday. Don't deal blindly; deal with stock specific delivery-based intraday rather than call-put or future.
* Moon will be in the Vishakha constellation of Libra Zodiac.
AN ASTRAL VIEW OF MARKET TODAY
* Consider 10 minutes plus and minus in each prediction, and act accordingly.
* The astrologer advises you to compare the next prediction with the prediction of the previous time slot.
*The daily prediction, which you refer to, has been written a week in advance. So, take its optimum advantage.
*High volatility and wide fluctuation dates in January:
3, 4, 5, 7, 11, 12, 18, 24, 27, 31
3, 4, 5, 7, 11, 12, 18, 24, 27, 31
You can take a new position due to Reliance and SBI's result, national holiday on Wednesday, bank's new policy and F&O's last Thursday. Don't deal blindly; deal with stock specific delivery-based intraday rather than call-put or future.
* Moon will be in the Vishakha constellation of Libra Zodiac.
*From today, Saturn will be retrograde in the Zodiac Virgo. If your Zodiac sign is Virgo, you may experience the impact in your horoscope.
*Today, Sun-Mercury are in Saggitarius Navmansh.
*Today, Venus-Rahu are in the Scorpio Navmansh.
* Astrologers will keep guiding you about the sectors like Plantations/ Tea & Coffee/ Refineries in which there will be some major changes during the months of February and March.
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
GOLD IMPORTS HIT RECORD
All those who continue ridiculing gold, saying it has no utility, tend to forget one thing: it just happens to be the ultimate status symbol (especially for the nouveau riche). And who these days wants to demonstrate status (and has a lot of nouveau richness)? Why the 2+ billion consumers who are benefiting from the biggest growth story in the world, i.e., China and India. According to the World Gold Council, gold demand in India in the last year reached a record. Per Bloomberg: “Purchases were about 800 metric tons, compared with 557 tons in 2009, Ajay Mitra, managing director for India and the Middle East at the producer-funded group, said today in a phone interview from Dubai.” But how is that possible? After all gold prices surged in 2010 compared to 2009: is gold demand supposed to be an inelastic? Surely you jest? Well, no: “Our assessment is demand will continue to be strong,” [Mitra] said. “Price is no longer a factor.”” Re-reading the bolded sentence a few times just may explain why PM distribution centers with actual physical inventories have suddenly become rarer than hen’s teeth.
From Bloomberg:
Gold imports by India, the biggest bullion consumer, likely reached a record last year driven by investment demand, according to the World Gold Council.
Purchases were about 800 metric tons, compared with 557 tons in 2009, Ajay Mitra, managing director for India and the Middle East at the producer-funded group, said today in a phone interview from Dubai.
Imports at that level “would be the highest for India in its history,” he said. The group hasn’t released final data for last year. Purchases in 2010 may exceed 750 tons, Mitra said Nov. 17. The Bombay Bullion Association said Jan. 3 imports probably totaled 700 tons in 2010.
Gold for immediate delivery rallied 30 percent last year to reach a record $1,431.25 an ounce on Dec. 7 as investors bought the metal as a protector of wealth. Demand for bullion as an investment in India surged 73 percent in the year ended Sept. 30, according to World Gold Council data. Purchases by the Asian country this year will remain “strong,” said Mitra.
“Our assessment is demand will continue to be strong,” he said. “Price is no longer a factor.”
Investment demand for gold in India grew faster than the 62 percent gain in jewelry demand in the same period, according council data.
“It’s been demand driven with investment in mind,” Mitra said. “While jewelry is a form in which a lot of consumers do buy in India, the core proposition really is security for the future, which is the investment angle for buying into gold.”
And that’s just India. Next, throw China into
the pot, mix, and let simmer…
Two lessons from the road:
- It only takes a small slip-up to create big negative effects. Conversely, the road to success in many of life’s ventures seems to be more incremental. Think of the engineering behind cars, space shuttles etc. One small error can lead to total disaster, but for everything to work, so many things have to be ‘right’. A related pattern is the carry trade in the currency market, where returns are incremental as the high yielding currencies slowly appreciate, but when we witness episodes of carry trade unwinding, things are not nearly as orderly.
Two lessons from the road:
- It only takes a small slip-up to create big negative effects. Conversely, the road to success in many of life’s ventures seems to be more incremental. Think of the engineering behind cars, space shuttles etc. One small error can lead to total disaster, but for everything to work, so many things have to be ‘right’. A related pattern is the carry trade in the currency market, where returns are incremental as the high yielding currencies slowly appreciate, but when we witness episodes of carry trade unwinding, things are not nearly as orderly.- Missing my junction would be less of a problem if I was less tired and fatigued, because I would feel less downhearted at having to do the additional driving. However, it is when we have energy and are wide awake that we are least likely to miss our junctions, and we are more likely to miss them when we least want to.
This reminds me of insurance not working when it comes to claiming, of correlations heading to one in times of crisis, and of markets being flush with liquidity, only for it to dry up right when it counts.
This reminds me of insurance not working when it comes to claiming, of correlations heading to one in times of crisis, and of markets being flush with liquidity, only for it to dry up right when it counts.
PLAN YOUR TRADE - TRADE YOUR PLAN
Trading is a journey and a competitive activity. Why would you not plan your trades? Are you relying on someone else to plan them for you? Are you thinking there is something magical about the markets and all you have to do is click the mouse or call your broker and money flows into your account? If any of these are true, you are setting yourself up for failure.
Make a plan. This plan is what resonates with your brain structure, trading personality and money attitudes. Make it as simple as possible and then trade it consistently, day after day. If the plan is not working, change it until you get one that works for you. If it is working and generating profits for you, keep it. Don’t try to fatten it up, give it more bells and whistles or get greedy with it. If it’s broken, fix it and if it isn’t then leave it alone. Keep it simple and keep going with it.
Look at your plan every night after the market close. Write down how it worked for you that day and then contemplate and write down how you will use it the next day. In your nightly preparations and your preparations before the market opens, review your plan, Ensure that you are ready to execute, that you know what you are going to do, when you are going to do it, and then just do it—then execute ruthlessly. This is one way to empower yourself and grow in confidence as a trader. Winning in the markets, sports, business and life is about superior positioning, planning, reviewing, reworking, and executing over and over again until you get it right in a way that is seamlessly competent.
Trend Forecasting With Technical Analysis
FOCUS ON THE BULLS EYES
Every day that we trade, we need to ensure that we have a specific goal in mind.
Without any goals, we will never know if we had a successful trading session or not. Profit is not the only indicator for success.
The best traders continue to fine tune their goals and the target gets smaller and smaller. If you aim for the bulls eye, even if you miss, you still end up with a good result, because when you aim small even if you make an error, those errors are also small.
NEVER ARGUE
Remember, the market is designed to fool most of the people most of the time. Sometimes, the market will go contrary to what speculators have predicted. At these times, speculators must abandon their predictions and follow the action of the market. Never argue with the tape. Markets are never wrong, but opinions often are. I only try to react to what the market is telling me by its behavior.——Jesse Livermore
NEVER ARGUE
Remember, the market is designed to fool most of the people most of the time. Sometimes, the market will go contrary to what speculators have predicted. At these times, speculators must abandon their predictions and follow the action of the market. Never argue with the tape. Markets are never wrong, but opinions often are. I only try to react to what the market is telling me by its behavior.——Jesse Livermore
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have any queries)
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MESSAGE TODAY
Creativity requires the courage to let go of certainties.
-ERICH FROMM
RELAX CORNER
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