Namaste - My Learning of Trading in Nifty

[crown]

Entered long in Jubilant Organos @ 367

Jubilant closed at 360.70

Entered long in TFCI (Tourism Finance) at 34.60
Entered Long in Vakarangee Software at 212
Entered long in Jindal steel and power at 713.

Tourism Finance closed at 34.05
Vakarangee closed at 227.55 (squared off half of my position today, partial profit booked)
Jindal Steel and Power - closed at 717.70

 

[crown]

There are very strong chances of Nifty touching/crossing 5800 in recent future.

Reason being the Put-Call analysis
and Gold is somewhat weak, which can drag interest of the buyers into the market.

Looking to enter long in Banking and Auto sector
trying to find out the appropriate scripts

 

[crown]

I am also trying to analyse the commodities
and, doing paper trade on it
Gold is good for short now
target and stop/loss is yet to be identified after success in paper trade.

 

[bikashkumar11]

Crown bHai
any suggestion for tomorrow ?

 

[TraderRavi]

Crown bHai
any suggestion for tomorrow ?

europe , dow all positive...so tomorrow also positive day ,,may be...

 

[SavantGarde]

Guys,

Try & get that 'Maybe' Out of analysis & comments.....the day you can do that....let me tell you folks....you will all be able to take money out of the market at will....

All of you may think what is this idiot rambling about.....

Put simply it means honing your skills to such an extent that you would still cut your finger testing the edge....

Try next time not to sit on the fence.... and in doing so... if you happen to be wrong... step back...analyse... what was it that you missed....this will happen several hundred times.... but you will surely be more confident of analysis...with each mistep.

Happy & Safer Trading

SavantGarde

europe , dow all positive...so tomorrow also positive day ,,may be...

 

[saivenkat]

Guys,

Try & get that 'Maybe' Out of analysis & comments.....the day you can do that....let me tell you folks....you will all be able to take money out of the market at will....

All of you may think what is this idiot rambling about.....

Put simply it means honing your skills to such an extent that you would still cut your finger testing the edge....

Try next time not to sit on the fence.... and in doing so... if you happen to be wrong... step back...analyse... what was it that you missed....this will happen several hundred times.... but you will surely be more confident of analysis...with each mistep.

Happy & Safer Trading

SavantGarde

Very Aptly said, savant ji.. So inspiring.. In fact the posts like this Pumps my adrenalin strong enough, you believe it or not, this post is certainly a Hair-raising one for me.

Infact when i see TV, i see analyst using this " May be" clause so profusely. What i used to think at that moment is that " I must equip myself to such a degree that this "May be' clause is not dealt by me at any context.

I was so determined that to find a system (strategy) that should suit my style of trading, and more importantly, it should fetch me money when i decide to trade ( I'm a full time employee, so dont trade regularly)

Worked out lot of strategies and systems, did a lot of home work, some times days extending into nights but without break, even my friends and my family members have started to comment, "what is it your still searching searching for strategy.. nearly two years have gone.. but to all of them i would give a wry smile.. but these things never deterred me, but made me stronger than before.

And of course their are moments when i start to give up, but immediately i derive strength from TJ, from you all Guru's here and this is no art of flattery, but a FACT.

Finally the " EAGLE HAS LANDED".. the search is over for me.. only recently i have settled with a strategy, it gives me immense satisfaction and the Confidence that i can do trades on my own, at my will.

I know this is the longest post i have made in TJ taking the precious time of many.. but after reading the post of Savant bhai.. i could not control myself.. just came up with what was in me.. Sorry friends for all blah..blah..

With regards
Saivenkat

 

[crown]

Crown bHai
any suggestion for tomorrow ?

Bikash bhai

I am thinking of entering long in
Aegis Logistic Ltd and Central Bank of India

 

[crown]

Guys,

Try & get that 'Maybe' Out of analysis & comments.....the day you can do that....let me tell you folks....you will all be able to take money out of the market at will....

All of you may think what is this idiot rambling about.....

Put simply it means honing your skills to such an extent that you would still cut your finger testing the edge....

Try next time not to sit on the fence.... and in doing so... if you happen to be wrong... step back...analyse... what was it that you missed....this will happen several hundred times.... but you will surely be more confident of analysis...with each mistep.

Happy & Safer Trading

SavantGarde

Namaste Savant bhai

Thanks for sharing and guiding.

Would like to share my very little experience of past couple of months in this regard.

First, there is no such system/analysis/technique which is absolute. One can and one should be ready to take the loss with dignity.

Second, the best system/analysis/technique is that which follows the market. I mean to say that one must apply the system in the direction of the market, in stead of looking for market to move as per the system. For example, earlier I also try to analyse the market as per my system(s); the system telling market is weak because I usually was thinking/suspecting of market going down and can clearly see the signals according to my desire. But I failed every time, because the Market is much much more important than any system. Rajput Bhai, once told me about such psychological barriers, in analysing; and after much much brainwashing at my own, I am a little bit better now in this regard.

Third, one or two days of upside and downside movement do not indicate the change in the trend. In this regard too, I was well guided by AW bhai, Raunak Bhai, Rajbut Bhai, Praveen Bhai, Simple Trader Bhai, Raj bhai and many other big brothers over here.

Fourth, Just avoid mixing news with technicals. It is my own experience. I have also mentioned this in this thread, that I have stopped looking at what Dow, Euro or other markets are doing. If my system is telling me upside move, in a script, Just enter it for the sake of pure trading. Just trade, do not anticipate/calculate/evaluate it on the basis of any other thing but the analysis/system I am using.

Fifth, Avoid using volume as much as possible. Around 90% of the time, in my personal experience, I have found that it mis-guided me in the wrong direction. The most confusing and irrelevant thing, I experienced, is the funda of Smart Money. I am sorry to say this because, I know many of us overhere, take volume too much seriously. but, it is just my experience, or rather very little experience which may not be fully correct. But whatever I experienced, I am sharing.


Sixth, do not go by the tops and bottoms a share is making. Around a weak ago, I too made this mistake; because of having the routine habit of seeing things in the perspective being spread in the masses. State Bank of India, gave a beautiful upside signal. But I was afraid to enter long, you know why, because everyone over here and on the News, shouting high, "Markets are at their peaks, there has to be some correction for the market to make new highs, any time FII selling can come etc etc.". I thought that SBI is at its highs, let it come down. Entering overhere could be risky. And eventually I missed the bus. But because at that time, I was a little more confident on my system; I decided to go paper trade on that script. And, now I am too much relaxed that I learned a very good lesson.

Thanks again Savant bhai for such encouraging post.

 

[bikashkumar11]

good morning crown bhai