Diary of a day trader - Part 2

[arcus]

An essential quality every good trader must have is to be open with different possibilities and views. Never get attached to our views and analysis. Adapt to the changing market environments quickly.

Being on right side of the market is much more important than being right on the markets..... Think about it...

Smart_trade

I agree Smart_trade.

Maybe I overreacted. Anyway, I don't want to fight the market.

The market has its own mind.

I have seen some people actively shorting the index on this forum. I do not recommend such a strategy even though my own view is bearish. I don't advise anyone to fight the market. I believe one must either be long or stand aside in this market.

If anyone has a bearish view, please don't short the index. Wait for confirmation and only then take a small position with a tight stop loss.

Only people like George Soros who trade 1,00,000 lots or more can change the market trends. People like us who trade 2 lots or 10 lots hardly cause a change in one tick.

....My theory will be nullified when we cross 6100-6300 on the Nifty.

Till then, I'll continue to sell the rallies than buy the dips.

arcus

I don't want to get "attached" to my bearish view and therefore for every view of mine, I always keep a limit. As I said earlier, I will go long only when the index breaks 6300 decisively. I will stand aside and wait for confirmation till then.

Regards,
arcus.

 

[arcus]

Not all analyst's are bad. Personally I do respect Sudarshan Sukhani. I closely follow his advice and opinion of Nifty.

Yeah, I like Sukhani even though I don't follow his individual stocks, I listen to what he says about the index. The guy always smiles even if the market goes up or down.

Today, he was eating (pan?) when Udayan was interviewing him.

 

[arcus]

If anybody is interested in financial documentaries, I recommend these two that I watched last week.

1) Trillion dollar bet
Its about how the founders/creators of option contracts (Mr Scholes and Mr Merton among others) lost half a billions dollars trading options!

2) Mind over money
Its about how human psychology plays a large role in financial decisions and how sometime it causes speculative bubbles.

On another note, I recommend this documentary on ghosts. (One of the best I have seen on the topic actually)

 

[Trade in Index]

Being on right side of the market is much more important than being right on the markets..... Think about it...

Smart_trade

YES.
Great Traders very quickly react to 'Market Changes' just like 'Chemeleon' before market force changes on their trading position.

That was the inner meaning of EagleOne's post.

PS: But Sudharsan Sukhani is different kind of Chemeleon who never trade only talk, we all know him. Trading Community calls him Biggest Joker.

 

[Trade in Index]

My VPS account got activated today evening.

If anyone has any query regarding VPS, you can ask.

Thanks,
Softy

NSE Now is almost same as Nest Trader so trading with VPS Share'll be FUN as brokerage & transaction cost is much less. :thumb:

But what about Odin? Is there good chart facility with it like Nest Plus. Please upload some charts for Crude. Please share some experience with Odin. Is it as good as Nest?

 

[timepass]

Husband - Birbal ki ma, istri ki dukan hai vo..

hahahahahahahahahahahahahahahahahahaaaaaaaaaaaa


:rofl::rofl::rofl::rofl::rofl:

 

[del_66]

http://www.indianexpress.com/news/s...d-and-disappointed-says-rahul-dravid/1116680/

 

[EagleOne]

http://www.indianexpress.com/news/s...d-and-disappointed-says-rahul-dravid/1116680/

They already got a name. Tainted Trio....


Name is stlll unregistered. I think it'd be good for somer Mutual Fund or Trading firm.... :lol:

 

[ajeetsingh]

 

[PartTime_Trader]

Hello

Seeing some posts with end-game predictions and few deleted posts

The funny thing about calling tops & bottoms is they somehow forget that the guy trading trends is anyway going to be on the new up/down move, and every move for that matter. We caught this up-move after 15-days of Piano-Pattern, so why would we let-go the shorting opportunities when they come, if they come. :thumb:

So much so for predicting tops & bottoms, they serve only one purpose, keeps you out of the current move.
For traders wanting to trade with the trend any kind of prediction is just an unwanted distracting.


Cheers
::thumb::