Diary of a day trader - Part 2

[rajgreenpeace]

Nifty took 49 days to reach from 6111.80( 29 jan 2013) to 5477.20 level ( 10 April 2013) .......... and Nifty took only 18 days to reach from 5477.20 ( 10 April 2013) to 6084.70 level( todays high) almost near 6111.80 R level and during this uptrend there is also no swing high/low..... only steep upward movement.

So in my view........ present nifty uptrend is suspicious and not sustainable and soon we will see downward movement..........

This is only my view....... i may be wrong also......:lol:

Correct Hem......according to my system either BNF or NF will break 52 week High........in this Expiry......after that we will see another downward movement.....m still positive in this Exp.....so buy buy not bye bye.....:clapping::clapping::clapping:

 

[VIKAS 21]

Nifty took 49 days to reach from 6111.80( 29 jan 2013) to 5477.20 level ( 10 April 2013) .......... and Nifty took only 18 days to reach from 5477.20 ( 10 April 2013) to 6084.70 level( todays high) almost near 6111.80 R level and during this uptrend there is also no swing high/low..... only steep upward movement.

So in my view........ present nifty uptrend is suspicious and not sustainable and soon we will see downward movement..........

This is only my view....... i may be wrong also......:lol:

Yes very true HEM Sir, this is vertical movement, No profit booking has come , We should be ready for it any time....

 

[rajgreenpeace]

Why people fails ( My view)

1.The main thing is psychology , ppl already have a negative psychology that earning in share trading is very difficult bcoz they hardly know a successful trader.

2. Absence of mentor, not proper guidance, lack of knowledge, Try to take a course from various online academies or select your mentor yourself to give a direction to your studies as we do in other professions.

3. As a trader we have to learn from our experience , for this we have to preserve our capital but till the time we grow & learn as a trader & understand the market , we have lost a major part of our capital & hence our confidence level.

4. Try simple methods which we can employ easily during our trading decisions, don't make your trading complicated by applying a lot of indicators & complicated methods.

5.While taking a trade we must be very sure why we are taking this trade, what will be our sl, where we will add & when we will exit, No trade should be a tukka trade.

I want to add one more very important thing ....according to my experience never trade if your mood off.....trade wen your "MOOD is GOOD":thumb::thumb::thumb::thumb::thumb::thumb:

 

[Raghuveer]

I want to add one more very important thing ....according to my experience never trade if your mood off.....trade wen your "MOOD is GOOD":thumb::thumb::thumb::thumb::thumb::thumb:

Good point. Myself made many losses trading when mood is not good, when sick, when not enough sleep was there. Learnt some expensive lessons.

 

[Arsh]

Anyone trading ITC? Your current view pls

 

[bear]

so bank nifty is going to lead nifty to new high ifresistance of 12700 is broken on closing basis if PSU banks too participate in rally

 

[ajeetsingh]

option data says 6090 to pakka hai
mujhe to 6080 hi mil jaaye to baat bann jaaye

atlast got 6080. target booked :clap:

 

[VIKAS 21]

atlast got 6080. target booked :clap:

Fit hai boss......:thumb::thumb::clap::clap::clapping::

 

[ajeetsingh]

Fit hai boss......:thumb::thumb::clap::clap::clapping::clapping:

my SL was 6045 bas bal bal bacha
currently shorted titan..... testing luck again

 

[soft_trader]

Nifty took 49 days to reach from 6111.80( 29 jan 2013) to 5477.20 level ( 10 April 2013) .......... and Nifty took only 18 days to reach from 5477.20 ( 10 April 2013) to 6084.70 level( todays high) almost near 6111.80 R level and during this uptrend there is also no swing high/low..... only steep upward movement.

So in my view........ present nifty uptrend is suspicious and not sustainable and soon we will see downward movement..........

This is only my view....... i may be wrong also......:lol:

I second your view HEM. This kind of move is not sustainable. What I feel now is that Nifty will make a false breakout above the 52WK high and after that it will go down. A correction is inevitable.