FROM AN EXPERIENCE
One of the great things about the market is, the markets
don’t care about you. The market doesn’t care what color
you are. The markets don’t care if you are short or tall.
They don’t care about anything. They don’t care whether
you leave or stay…I met the guy who wrote this best
seller now called, Bringing Down the House, it’s about
these MIT guys who beat the blackjack tables.
And part of the problem, if you’re going to be a blackjack
counter is that the casinos don’t like you. They actively
don’t like you. And they come and tell you in rather
strong things to take your business away. Well, the
beautiful thing about the markets, they don’t like you,
they don’t dislike you, they just don’t care. They are
there everyday. You want to play, you can play.
You don’t want to play, don’t play. And you can choose.
You sit, there is no penalty. You know, when you
stand you know…I don’t know how many of you play
baseball…when your at bat if something comes through
the strike[zone], if you don’t swing you still get
a strike against you. But the markets are a no penalty game.
You can stand there and wait. You can go home and wait.
It doesn’t matter. And that’s really a terrific thing.
Here are some ideas------
10 CORE IDEAS OF TRADING
1) We are most likely to behave in inhibited or impulsive ways, violating trading rules and plans, when we perceive events to be threatening;
2) What we perceive to be threatening is a joint function of events themselves and how we think about those events;
3) A key to gaining control over trading and maintaining consistency is to be able to reduce the threat associated with market events and process adverse outcomes in normal, routine ways;
4) We can reduce the threat associated with adverse market events through proper money management (position sizing) and through proper risk management (limits on losses per position);
5) We can reduce the threat associated with adverse market events by training ourselves to respond calmly to adverse outcomes (exposure methods) and by restructuring how we think about those outcomes (cognitive methods);
6) Optimal skill development in trading will occur in non-threatening environments in which learners can sustain concentration, optimism, and motivation;
7) A proper mindset is therefore necessary to the development of trading skills, but does not substitute for such development;
8) The cultivation of trading expertise is a function of the amount of time and effort devoted to learning and the proper structuring of that time and effort;
9) Proper structuring of learning involves the setting of specific, doable, cumulative goals and the provision of rapid feedback and correction regarding the achievement of those goals;
10) Practice does not make perfect in trading or anything else; perfect practice makes perfect. Training must gradually build competencies and correct deficiencies in a manner that sustains a positive mindset and optimal concentration and motivation.
(to be contd)
TODAY’S TRADING STRATEGY
OF NIFTY FUTURES – MARCH 7
See Nifty Futures kissing 5565 today
(in case of a normal opening)
If cuts & trades above 5565, breaking 5580
decisively, see an hike upto 5600 – 5623
We see a strong resistance @ 5625 today
Suppose if cuts trades below 5553 and cuts 5540
a slide upto 5520 and 5485 is possible.
Anyway a very volatile and noisy session
is expected– So day traders pls
keep your hands crossed
for at least an hour after the opening bell
BANK NIFTY
Buy btwn 11060-77
T1 – 11131-59
T2 – 11176-86
T3 – 11220
Sell btwn 10913-899
T1 – 10844-17
T2 – 10800-89
T3 – 10755
(Refer to ‘OUR POLICIES’ in blog archives
if you have any queries)
For further details,
Contact Admin (Analyst) @
(0)9788563656
BOOK REVIEW
Stock trading is a zero-sum game. For every winning trade there is a loser on the other end and knowing how to play the competition will make a successful trader.
Tatro’s strategy is based around technical analysis and learning how to read trends while betting against the conventional stock plays. Essentially getting inside the mind of the other traders to determine when to strike and when to pull back.
Trade the trader is essentially a stock trading book that breaks down technical analysis and how to use this type of trading strategy, with input from Tatro and his own experiences.
The books covers topics such as:
- Timing the entry into a stock
- How to use and read trend lines
- Setting stop limits for your trades
- When to take gains
- How to get into the mind of other traders
What I liked about the book: Tatro did a great job of providing real-world examples on how his strategies have worked and what should be expected.
What I didn’t like about the book: While Trade the Trader does provide educational material, I felt it was accompanied with stories and antedates that could have been left out, and the book could have been shorter than what it currently is.
Overall, Tatro does a great job on teaching the basic fundamentals of technical analysis and how to effectively use it to gain a step up above the other traders. Whether you are new to the game or just need to tweak your technical analysis skills to actually make some money, you should give Trade the Trader a read.
Trading has many ups and downs and can easily cause
us to feel defeated.
However, defeat can only be disastrous if we
classify it as disastrous.
Losses, defeats, failures, etc. have been a part of history
for every person who has
reached high levels of success. The difference with
the successful people is that they
analyze the situation immediately. Those that tend to
fade away are those that wait until
tomorrow or maybe never to review and discover
why the results were not what they expected.
To be successful we must accept every result as a part
of our growth and to apply those
findings today. Don’t wait until tomorrow, because
tomorrow may be too late.
RECOGNIZE YOUR MISTAKES
“I believe that truth is healthy and that most people can get what they want if they understand what is true and learn how to successfully deal with it. But I recognize that some people have problems applying this to their and others’ mistakes and weaknesses. That is because there commonly exists a stupid paradigm that “successful” people don’t make mistakes and don’t have weaknesses, whereas the truth is that everyone makes mistakes and has weaknesses. I believe that most important difference between “successful” people and “unsuccessful” people is that the successful people recognize their mistakes so that they learn from them and they recognize their weaknesses so they develop strategies to get around them.”
DESPITE DMK PULL OUT, UPA NOT IN DANGER
With 18 members of the Lok Sabha, DMK is the third largest constituent of the UPA after Congress and Trinamool Congress.
While Congress has 207 MPs, Trinamool Congress is 19-member strong.
Other constituents of the UPA are NCP (9 members), National Conference (3), IUML (2) and JVM and VCK (1 each).
Without the 18-member DMK, the strength of the UPA comes down to 242 from 260. The magic number of simple majority in the 543-member Lok Sabha is 272.
Without the 18-member DMK, the strength of the UPA comes down to 242 from 260. The magic number of simple majority in the 543-member Lok Sabha is 272.
The Congress-led coalition has a cushion available in the form of several parties like the Samajwadi Party and the BSP which provide outside support. SP has 22 members and BSP 21. Jaya Prada is an
expelled member of the SP and is seen as a member supporting the UPA.
Besides, four-member RJD, three-member JD-S are also outside supporters.
expelled member of the SP and is seen as a member supporting the UPA.
Besides, four-member RJD, three-member JD-S are also outside supporters.
With the outside support of these parties, the strength of the Congress-led UPA minus the DMK stands at 311, well past the magic figure of 272.
DMK has been with the Congress-led UPA since 2004 and has been generally been a dependable ally for the ruling party at the Centre.
The UPA is in no danger of losing majority at the Centre even if the DMK pulls out of the government. MESSAGE TODAY
Experience is the name everyone gives to their mistakes.
-OSCAR WILDE, in ‘Lady Windermere's Fan’
RELAX CORNER
FIND AND
What soap is to the body, laughter is to the soul
JUST SMS TO YOUR PAL
try missing a couple of car payments.
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