FROM AN EXPERIENCE
1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.
2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.
3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.
4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.
5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.
6. Lack of product orientation. Some people seem more concerned about the process than the result of activity.
7. Inability to complete tasks. For some people nothing ever draws to a close. Perhaps it’s fear of what they would do next or fear of becoming hopelessly enmeshed in detail.
8. Failure to initiate. Still others are unwilling or unable to initiate a project. It may be indecision or fear of commitment.
9. Fear of failure. People may not reach peak performance because they avoid the really important challenges in life.
10. Procrastination. Some people are unable to act without pressure. They may also look for little things to do in order to put off the big ones.
11. Misattribution of blame. Some people always blame themselves for even the slightest mishap. Some always blame others.
12. Excessive self-pity. Some people spend more time feeling sorry for themselves than expending the effort necessary to overcome the problem.
13. Excessive dependency. Some people expect others to do for them what they ought to be doing themselves.
14. Wallowing in personal difficulties. Some people let their personal difficulties interfere grossly with their work. During the course of life, one can expect some real joys and some real sorrows. Maintaining a proper perspective is often difficult.
15. Distractibility and lack of concentration. Even some very intelligent people have very short attention spans.
16. Spreading oneself too thin or too thick. Undertaking too many activities may result in none being completed on time. Undertaking too few can also result in missed opportunities and reduced levels of accomplishment.
17. Inability to delay gratification. Some people reward themselves and are rewarded by others for finishing small tasks, while avoiding bigger tasks that would earn them larger rewards.
18. Inability to see the forest for the trees. Some people become obsessed with details and are either unwilling or unable to see or deal with the larger picture in the projects they undertake.
19. Lack of balance between critical, analytical thinking and creative, synthetic thinking. It is important for people to learn what kind of thinking is expected of them in each situation.
20. Too little or too much self-confidence. Lack of self-confidence can gnaw away at a person’s ability to get things done and become a self-fulfilling prophecy. Conversely, individuals with too much self-confidence may not know when to admit they are wrong or in need of self-improvement.
Let the market make the decisions, not your ego.
(to be contd)
OVERALL VIEW OF NIFTY FUTURES UPTO THE APRIL EXPIRY
Starting from Monday (APR 09) trend would be as follows if and only if NIFTY FUTURES trades below 5324 for 30 minutes today
APR 09, 10, 11 – Bearish & Downside close
APR 12 – Upper side close
APR13 – Complete Bullish & upper side close
MONDAY (APR16) – Highly Bearish & downside close
Prolonged downtrend is seen in forthcoming sessions too (i.e. from APR16-20)
On Monday (APR 23) – GAP DOWN OPENING and an upper side close would happen
APR 24 – A big GAP UP opening occurs and the upper trend would continue for the next 2 days till the expiry (i.e. APR 26)
We find 80-90% probability according to M I D technique for the above said predictions
Any change, will be updated in the middle (in pre-market hours itself)
Any change, will be updated in the middle (in pre-market hours itself)
ALL THE BEST PALS
OPTION TRADE
5100 & 5000 PUT Option trade will be initiated today (iff Nifty trades below the low of APR 04 – 5324 for 30 minutes)
And the ‘PUT’ will be carried till APR 21
NIFTY LEVELS FOR APRIL 09
OVERALL RESISTANCE @ 5386-5400
OVERALL SUPPORT @ 5299-5268-5236
Day’s Supports @ 5342-19 & 5268
Day’s Resistance @ 5375-86 & 5416-30
If opens & trades below 5347 for 5 minutes see an intraday slide upto 5319-5300 and if trades below 5299 for 5 minutes see more slide upto 5270
On the other hand if opens and trades above 5348 for 10 minutes watch a hike upto 5375-86
The most important thing that the option traders should notice today is the 30 minutes trade below 5324
If happened, nothing stops NIFTY’s slide for the next two days
INTRADAY SELLING TIPS TODAY (APR 09)
Sell KALECONSUL & OPTOCIRCUIT on riseSubscribe tradersharmony for the exact time and price levels to sell the scrips which is more very important to make intraday profits.Thank you.
MY NOMINATION THIS WEEK FOR THE TRADERS
It’s a helpful book to return to when market conditions get tough. A great place to start is Vic’s “business philosophy,” as encapsulated in three rules:
1. Preservation of Capital
2. Consistent Profitability
3. Superior Returns
Below is Sperandeo in his own words:
Preservation of Capital
Preservation of capital is the cornerstone of my business philosophy. This means that, in considering any potential market involvement, risk is my prime concern. Before asking, “What personal profit can I realize?”, I first ask, “What potential loss can I suffer?”
…There is one, and only one, valid question for an investor to ask: “Have I made money?” The best insurance that the answer will always be “Yes!” is to consistently speculate or invest only when the odds are decidedly in your favor, which means keeping risk at a minimum.
Consistent Profitability
Obviously, the markets aren’t always at or near tops or bottoms. Generally speaking, a good speculator or investor should be able to capture between 60 and 80% of the long-term price trend (whether up or down) between bull market tops and bear market bottoms in any market. This is the period when the focus should be on making consistent profits with low risk.
…Anyone who enters the financial markets expecting to be right on most of their trades is in for a rude awakening. If you think about it, it’s a lot like hitting a baseball — the best players only get hits 30 to 40% of the time. But a good player knows that the hits usually help a lot more than the strikeouts hurt. The reward is greater than the risk.
Pursuit of Superior Returns
As profits accrue, I apply the same reasoning but take the process a step further to the pursuit of superior returns. If, and only if, a level of profits exists to justify aggressive risk, then I will take on a higher risk to produce greater percentage returns on capital. This does not mean that I change my risk/reward criteria; it means that I increase the size of my positions.
GUIDELINES FROM DONCHIAN
1) Beware of acting immediately on a widespread public opinion. Even if correct, it will usually delay the move.
2) From a period of dullness and inactivity, watch for and prepare to follow a move in the direction in which volume increases.
3) Limit losses and ride profits, irrespective of all other rules.
4) Light commitments are advisable when market position is not certain. Clearly defined moves are signaled frequently enough to make life interesting and concentration on these moves will prevent unprofitable whip-sawing.
5) Seldom take a position in the direction of an immediately preceding three-day move. Wait for a one-day reversal.
6) Judicious use of stop orders is a valuable aid to profitable trading. Stops may be used to protect profits, to limit losses, and from certain formations such as triangular foci to take positions. Stop orders are apt to be more valuable and less treacherous if used in proper relation to the chart formation.
7) In a market in which upswings are likely to equal or exceed downswings, heavier position should be taken for the upswings for percentage reasons a decline from 50 to 25 will net only 50 percent profit, whereas an advance from 25 to 50 will net 100 percent profit.
8) In taking a position, price orders are allowable. In closing a position, use market orders.
9) Buy strong-acting, strong-background commodities and sell weak ones, subject to all other rules.
10) Moves in which rails lead or participate strongly are usually more worth following than moves in which rails lag.
11) A study of the capitalization of a company, the degree of activity of an issue, and whether an issue is a lethargic truck horse or a spirited race horse is fully as important as a study of statistical reports.
GOOGLE PROJECT GLASS
This is really really cool friends - Everyone is a '007' after this - Just have a look!
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