FOREBODING MONDAY..?

FROM AN EXPERIENCE

 

“When you really believe that trading is simply a probability game, concepts like ‘right’ and ‘wrong’ or ‘win’ and ‘lose’ no longer have the same significance. As a result, your expectations will be in harmony with the possibilities.” – Mark Douglas, trader & author
 
“Trade with an edge, manage risk, be consistent, and keep it simple. The basis of all successful trading can be summed up in these four core principles.” – Curtis Faith

“If you lack a solid trading plan and are stressed out when you trade, you’ll naturally tend to cut your profits short and hold on to losers.” – Van K Tharp


“Wharton taught you that 40 percent of a stock’s price movement was due to the market, 30 percent to the sector, and only 30 percent to the stock itself, which is something that I believe is true. I don’t know if the percentages are exactly correct, but conceptually the idea makes sense.” – Steve Cohen, hedge fund manager 

“Traders fail for the same reason that most baby turtles fail to reach maturity: Many are called and few are chosen. Society works by the attraction of the many. As they are culled out, the good ones are left, and the others are released to go try something else until they find their calling. The same is true for other fields of pursuit.” – Ed Seykota 

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota, trader

“The markets are the same now as they were five or ten years ago because they keep changing-just like they did then.” – Ed Seykota

“Don’t get in a shootout if you’ve left your guns at home. The markets are no place to be trying to impress people. The only way to impress anybody is to stay on your toes, be consistent, and trade within your means.” – Marty Schwartz

“The 10 day exponential moving average (EMA) is my favourite indicator to determine the major trend. I call this “red light, green light” because it is imperative in trading to remain on the correct side of moving average to give yourself the best probability of sucess. When you are trading above the 10 day, you have the green light, the market is in positive mode and you should be thinking buy. Conversely, trading below the average is a red light. The market is in a negative mode and you should be thinking sell.” – Marty Schwartz

“Charting is a little like surfing. You don’t have to know a lot about the physics of the tides, resonance, and fluid dynamics in order to catch a good wave. You just have to be able to sense when it’s happening and then have the drive to act at the right time.” – Ed Seykota

“A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.” – Martin Schwartz, in Pit Bull

“I have learned through the years that after a good run of profits in the markets, it`s very important to take a few days off as a reward. The natural tendency is to keep pushing until the streak ends. But experience has taught me that a rest in the middle of the streak can often extend it.” – Martin Schwartz, in Pit Bull

“The market does not know if you are long or short and could not care less. You are the only one emotional involved with your position. The market is just reacting to supply and demand and if you are cheering it one way, there is always somebody else cheering it just has hard that it will go the other way” – Marty Schwartz, Pit Bull

“Most books on trading say that you only have to be right 3 or 4 times out of 10 if you cut your losses quickly and let your profits ride. That doesn`t work for me. I cut my losses quickly, but I take my winners just as quickly. I need to be right 7 or 8 times out of 10″ – Marty Schwartz, Pit Bull

“A great trader is like a great athlete . You have to have natural skills, but you have to train yourself how to use them.” – Marty Schwartz, Pit Bull

“Whenever too many people are doing the same thing, the market will go through a period of adjustment.” – Gary Bielfeldt, professional trader

“When you are starting out, it is very important not to get too far behind because it is very difficult to fight back. Most traders have a tendency to take risks that are too large at the beginning” – Gary Bielfeldt

“The general rule is: The less observed, the better the trade.” – Bruce Kovner, hedge fund manager

“Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” – Bruce Kovner, hedge fund manager

“It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.” – Jesse Livermore, Reminiscences of a Stock Operator

“The loss of the money didn’t bother me. Whenever I have lost money in the stock market I have always considered that I have learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. A man has to have experience and he has to pay for it.” – Jesse Livermore, in Reminiscences of a Stock Operator

“The game taught me the game. And it didn’t spare me rod while teaching.” – Jesse Livermore

“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.” – Jesse Livermore, Reminiscences Of A Stock Operator

“If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.” – Jesse Livermore

“I think it was a long step forward in my trading education when I realised at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend.” – Jesse Livermore

“If I were walking along a railroad track and saw an express coming at me at 60 miles an hour, I would be a damned fool not to get off the track and let the train go by. After it had passed, I could always get back on the track, if I desired” – in Reminiscences Of A Stock Operator

“Obviously the thing to do was to be bullish in a bull market and bearish in a bear market… I came to learn that even when one is properly bearish at the very beginning of a bear market it is not well to begin selling in bulk until there is no danger of the engine back-firing.” – Jesse Livermore

“Being so critical, I am often considered a contrarian. But I am very cautious about going against the herd; I am liable to be trampled on… Most of the time I am a trend follower, but all the time I am aware that I am a member of the herd and I am on the lookout for inflection points.” – George Soros

“Volatility is greatest at turning points, diminishing as a new trend becomes established.” – George Soros

“If a trader is right on direction, but wrong on timing, then the trader is wrong period.” – Peter Brandt, Futures Trader, author of Diary of a Professional Commodity Trader

“There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future. You can also lose a good bet, but if you keep placing good bets, over time, the law of averages will be working for you.” – Larry Hite

“If there`s a large move on significant news, either favorable or unfavorable, the stock will usually continue to move in that direction” – Richard Driehaus

“Taking a profit is great, but the money is not as important as the success. I think the best trader is the one who only uses the money to keep score. He treats trading as a challenge.” – Richard Arms

“To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.” – Alexander Elder

“Successful trading depends on the 3M`s – Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger – deciding when to buy and sell. Money refers to how you manage your trading capital.” – Alexander Elder

“Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.” – Alexander Elder

“There are two times in a man’s life when he should not speculate; when he can’t afford it, and when he can…” – Mark Twain

“I was seldom able to see an opportunity until it had ceased to be one.” – Mark Twain

“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” – John D. Rockefeller

“Markets can remain irrational longer than you can remain solvent.” – John Maynard Keynes

“The most important organ in the body as far as the stock market is concerned is the guts, not the head. Anyone can acquire the know-how for analyzing stocks.” – Peter Lynch

“More men have become great through practice than by nature.” – Democritus

“One characteristic I’ve found among successful traders is that they function effectively when they’re not trading. When markets become very quiet and range bound, they occupy themselves with a variety of activities, from sharing ideas with peers to conducting research. Traders who do not tolerate inactivity well inevitably feel the need to trade, often when there is no objective edge present. For them, losing money is less onerous than experiencing boredom.” – Brett Steenbarger, Ph.D – in Trader Feed

“To be a super-trader, you’ll need an edge to overcome the laws of probability and the uncertainty of the marketplace. That edge comes from information flow, the ability to correct your habits in terms of the market’s characteristics, and being able to take risks, cut losses, expand your information network, ferret out ideas, and take recommendations.” – Trading to Win, Ari Kiev

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. If you want to have a better performance than the crowd, you must do things differently from the crowd.” – Sir John Templeton

“Investing is no different. It is a game of repetition where hundreds of small actions result in one larger result. But most importantly, it is a game of risk management. It is not the home run hitter who wins in the long-run. Rather, it is that strategist who devises the best long-term plan who ultimately wins. While hitting home runs is sexy it is rarely a recipe for success in the investment world. Aim high, but play small. Over time, good risk management and patience wins. Power is no substitute for precision and patience. The same is true in the world of investing.” – Cullen roche, The Prag Cap

“I discovered, from the analysis of over 25,000 people, that men who succeed in an outstanding way, seldom do so before the age of forty, and more often they do not strike their real pace until they are well beyond the age of fifty.” – Napoleon Hill, Think & Grow Rich

“Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.” – Peter Lynch

“I know at last what distinguishes man from animals; financial worries.” – Romain Rolland, French dramatist, novelist and art historian who was awarded the Nobel Prize

“The only function of economic forecasting is to make astrology look respectable.” – John Kenneth Galbraith

“In most places around the world, the currency is like a thermometer. It may not tell you what is going on, but it tells you that something is going on, and you know a country is falling apart when even the government will not accept its own currency.” – Jim Rogers

“Superlative performance is really a confluence of dozens of small skills or activities, each one learned or stumbled upon, which have been carefully drilled into habit and then are fitted together in a synthesized whole. There is nothing extraordinary or superhuman in any one of those actions; only the fact that they are done consistently and correctly, and all together, produce excellence.” – Daniel F. Chambliss, Professor of Sociology

“The stock market capitalizes not the absolute level of strength in the domestic economy, nor the mood of the median household, but rather a private profit stream of mostly large, substantially global companies.” – Michael Santoli

“Contrary to popular belief, trading is a craft. Like an artisan who develops a craft over a lifetime, it requires a discipline to be exercised daily.” – Mike Bellafiore

“My basic philosophy is: Expose your portfolio to the best stocks that the market has to offer and cut your losses very quickly when you’re wrong. That one sentence essentially describes my strategy.” – Mark Minervini

“When a falling stock becomes a screaming buy because it cannot conceivably drop further, try to buy it thirty percent lower.” – Al Rizzo

Students of the market: Successful traders NEVER get complacent. They are always eager to learn, constantly looking to improve their skills.

One way to improve is through post analysis of your trades. It is important to look at your numbers and make sure your losses are smaller than your gains.

WHAT HAPPENED LAST WEEK..?

Subscibers booked a profit of Rs50/- & Rs70/- in 5600CE of February and 5800CE of March respectively

And asusual we went short in PrakashCons everyday taking 3-5 Rs in average and still planned to go till it hits Rs81.75/-

 Pls forget all fundas, logic, economy, blue-channel shouts, Balance sheets, Speculations & BLA..BLA..BLA's you have, since market pursues  always the charts and techniques

Just join hands and Enjoy Pals

 

Consistency: The best at anything are the best because they are consistent. Michael Jordan isn’t considered the best basketball player ever because he scored 30 points ONCE in a game. It’s because he averaged 30 points per game over his ENTIRE career.

Traders should not obsess with their day-to-day profit & loss. Rather, they should shoot for consistent positive months, quarters, and years with minimal draw downs. You do not want to be the “boom and bust” trader who does well in a strong market but gives it back during market corrections. These guys are a dime a dozen and typically get blown out of the market at key pivot points (Last cycle, I knew a few who became mortgage brokers — how is that for timing?)

NIFTY FUTURES LEVELS (FEB 27) 

Day’s resistance @ 5511

Day’s Support    @ 5526 

If trades above 5471 for 5 minutes NF would kiss 5506 and if cuts

5511 and trades above the level for 5 minutes see more hike upto 5523-35

Suppose if cuts & trades below 5470 for 5 minutes see a sure slide upto 5440
OVERALL VIEW THROUGH DAY CHART SAYS, 
Now more chances are seen in Nifty Futures for a slide upto 5300 this week

DAY'S THOUGHT

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