HAVE A GREAT MONDAY

HOW TO AVOID DAY TRADING MISTAKES ? - CONTINUED 

STEP 9

Manage your Mood, before your Money. If you are ill, cranky, depressed, or sad, those are days when you may want to take a break from trading. Otherwise, you could make costly mistakes. You must learn to manage these limiting/distracting moods before you manage your trades/money. Furthermore, trading while you are stressed out is stupid. Same for any sport. Winning in this business of trading stocks is like winning in any other sport/business - you need to relate well. Relate with yourself, relate well with your coach, if you have a trading coach, and relating with what you see on your monitors, peacefully and powerfully - with 80% of what I call the noise designed out or missing. To relate well, you want to be calm and energized. Same for day trading. To win, to perform at you optimal level of competence is eventually going to be all about trading on instinct - not much time for emotions, not much time, frankly, for all the thinking you've become accustomed to that drains both your energy and your mood of calm. What makes day trading so unique and exciting is that you trade the action, in the now. Like tennis, like racing a car at Indy, or any CEO in business - you gain the competence to consistently win with your coach, to have the intuitive ability to act effectively, profitably - to win, over and over, and over again.

STEP 10

Keep detailed records - a trading log with self assessments of your trading performance. Go back and read them for insights and share the important aspects with your coach. As in any business, keeping detailed records of all your transactions is vital for many reasons including profit and loss analysis, taxes and much more. Performance data is very useful for your learning, but not so much while trading, as you know, as that reading can be distracting in the present moment of trading. While trading - observing a valid setup, confirming what you need to be present as conditions or rules before you enter a trade, managing the trade for the best winning results or the smallest losing outcome - you rely on your confidence, your level of competence, and whatever performance excellence you may have accumulated with your coach - without thinking much, without your logs, without the news and all the other noise - you just trade, zen-like.

STEP 11

Save your profits. Whenever possible, leave your profits in your account and do not spend them. Run your day trading like a business. Do not reinvest all your profit back into dangerous, big money losing trades.

STEP 12

Cut your losses. Do not let a loser run in hopes of it rising again, unless there is sound evidence right before your eyes that it will. When you sense your trade is not working or no longer working simply get out with a small loss, break even, or a nice fat win.

                                                                                                                                                                                                                *****

HAVE A MARVELOUS WEEK END

HOW TO AVOID DAY TRADING MISTAKES - CONTINUED 

STEP 5

Purchase the right computer equipment and software and information service resources. For on-line trading, you need a high-speed Internet connection to minimize latency. Nobody said becoming a day trader is cheap. In addition to reliable and possibly even redundant high-speed connections, you will require specialized software and a variety of different analysis tools, not to mention your real-time research tools (including daily real time access to stock quotes and ticker feeds). Be prepared to spend a significant amount of money (in addition to your trading capital) before you place your first trade. The key here is to get some expertise as to what you need and configure for optimal efficiency and latency - which is a tech word for how long it takes your system to get info from the source (the markets). Your trading coach will guide you here. You want to have the best computer and monitors you can buy, not off the shelf stuff designed to do non trading tasks (video, games, software or Website design). Your computer must be highly reliable and you must have the best technical support - allowing you to perform competitively with any other traders in the world, including hedge funds, market makers, and the big money traders with very fancy software. Don't wing it on your own. Get an expert to help you out. Working with a trading coach, you can eliminate the noise (that causes most traders to quickly become big money losers).

STEP 6

Create a trading plan and stick to it. Successful traders have a plan. Highly profitable winners have a plan developed with their own trading coach. Without a coach and a plan, both new and seasoned traders can easily lose thousands a day, thousands a trade. Not only that, but they need to have financial plan set, with trading goals and limits.

STEP 7

Now, another caveat, your trading game or system far outweighs any plan of action you come up with. You want to beat Federer in a world-class match of tennis, don't show up with golf clubs with a great plan to take him out. So, for day trading "it's the game, stupid" that matters most to become a consistent winner. Strategies, plans, tactics, and so on are perfectly appropriate in the business world and for traders to contemplate when the markets are closed - but not so appropriate while day trading stocks, OLD School. The stock trading game, unlike any other game on the planet, requires a unique set of qualities for the trader and rules to apply to become a winner in the day trading game. Applying traditional business practices and rules to the art of day trading stock will quickly get you killed - both personally and professionally. This is what I want you to know above all else: the day trading game has changed, and continuously changes, so have we, and so can you - but only with a consultant / coach to get the NEW School game, the trade execution guidance, real time, and the support to bridge your poor performance gaps that must be bridged as rapidly as possible for long term success, wealth building success - or guess what? You will be forced to leave the game all-together - as a big money loser, a brain broken loser. Now you don't want that; we don't want that.

STEP 8

Keep track of the market. If you want to be successful at day trading, you need to keep an eye on the markets. Another observation about all this pre and post-market research that traders have become addicted to is a just a waste of your time. Most, if not all is, interesting, nice for a hobby, but it's just noise when it comes to winning trades. You would be well advised to be in the present moment trading, not ignoring your past lessons, not letting go the urge to forecast tomorrow's likely moves, but to be in the flow of current price action - markets and stocks. Arrogance and forecasting kills. Real time trading - now that's where the winners and the winnings are to be found; but you must free yourself of the noise, including rumors and most of the so-called important news you can get from endless sources.

                                                                                                                                                                                  (to be contd)

NIFTY FUTURES UPDATES & MARKET FUNDAMENTALS (NOV 07)

Day before yesterday, Nifty Futures as exactly predicted, after trading above 8351 for 30 minutes went upto our target of 8394 and breached even that to register a high of  8412 and closed @ 8388

Today, in normal opening if sustains above the level of 8380 

for 30 minutes,

It would have a hike upto 8407 for sure

To travel more than that it would sustain above 8410 

for 30 minutes to reach 8437

Suppose if cuts and trades below 8379 for 30 minutes

see a slide upto 8352-43-34

INTRADAY RESISTANCES @   8410 – 40  

INTRADAY SUPPORTS  @    8350 – 40 – 33

Trade carefully with the time and levels

An important note

ALL IS WELL – BUT A MILLION DOLLAR QUESTION RAISED NOW IS ‘WHEN WOULD NIFTY FUTURES GOING TO FILL ALL FOUR GAPS FORMED BELOW THE CURRENT LEVEL???

One @ 8185, second @ 8040, third @ 7947 and the other @ 7814

Pls be very very careful at these levels while you initiate 

a trade in Nifty

Just follow our mentioned levels with mentioned time!

Just remember….. We have been continuously warning about these GAPS every day

ALL THE BEST

 (By the time this post was updated S&P CNX Nifty Futures was trading @ 8394 )

இன்றைய சந்தை அடிப்படை (NOV 07) 

இந்திய நேரப்படி இன்று பிற்பகல் 3:45 மணிக்கு வெளிவரும் (டாலருக்கு எதிரான GBP நாணயத்தை பாதிக்கவல்ல) இங்கிலாந்து வங்கி கவர்னர் கார்னி அவர்கள் உரை, 5:00 மணிக்கு வெளியாகும் (இந்திய ரூபாயை பாதிக்கவல்ல) அந்நியச் செலாவணிக் கையிருப்புத் தகவல், ஏழு மணிக்கு அமெரிக்க டாலர் குறியீட்டை நேரடியாக அசைத்துப் பார்க்கவல்ல (அக்டோபர் மாதத்து) Nonfarm Payrolls, Unemployment Rate, மற்றும் கனடிய டாலரை பாதிக்கவல்ல Unemployment Change ஆகியன இன்று சந்தையில் முக்கியத்துவம் வாய்ந்த செய்திகளாகப் பார்க்கப்படுகின்றன!

அதோடு கூட மாலை எட்டே முக்கால் மணிக்கு வெளியாகும் Fed Chairman

எல்லன் அவர்களின் உறையும் டாலர் மற்றும் கச்சா எண்ணையின்  நகர்வில் தீவிர பாதிப்புகளைக் கொண்டு வருமெனத் தெரிகிறது!

இன்று தங்கம், வெள்ளி, கச்சா எண்ணெய், இயற்கை எரிவாயு, நிக்கல், மற்றும் காப்பர் அதில் கவனமாக இருக்க வேண்டிய நேரம்..

3:30 – 4:15 PM; 4:50 – 5:30PM 

6:50 - 7:30 PM; 8:40 – 9:30 PM

நேரமறிந்து, வர்த்தகம் புரிந்து வெல்க!

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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.

SUCCESS UPDATES IN CRUDE

CRUDE - FIVE DAYS CHART IN TWO HOURS TIME FRAME

According to our M I D Techniques CRUDE OIL has been initiated SHORT (POSITIONAL) 
TRADE in NOV Contract on 31st OCT exactly @ 4995...

NOW LOOK AT THE PRICE (trading below 4750) - 
Approximately a profit of Rs 25000/- for just ONE LOT and is 
running still.. 

Still looking for our second target of 4665 within few sessions!

LEARN OUR POWERFUL ' M I D TECHNIQUES' & ROCK IN 
COMMODITY MARKET

Have look at the chart..

Those settings, TIME factors are all taught in our classes - All you 
need is patience, Courage and an urge to learn 'M I D techniques' to book BIG PROFITS in few days

WELCOME ALL 

For more details Contact 9788563656