Namaste - My Learning of Trading in Nifty

[crown]

Entered long in Glenmark Pharma @ 312
Entered long in LIC Housing @ 1335
Entered long in Syncom @ 55.30

 

[crown]

Internet connection is not stable from the past couple of days.
Causing a lot of trouble in day trading as well as watching the market.

 

[saivenkat]

I have a gut feeling that today, nifty will cross over 6060 for a tgt of 6100. If bank nifty helps a bit, sure then the relaxing bulls will resurface again with venomous power.:thumb:

My gut feeling was correct. Nifty futures unbeaten on 6126,

Terrific scoring rate. Lets see what happens when the power play ( 2.30-3.30) is taken out.

 

[jagankris]

My gut feeling was correct. Nifty futures unbeaten on 6126,

Terrific scoring rate. Lets see what happens when the power play ( 2.30-3.30) is taken out.

Great mind think alike :clap:
I had predicted a double bottom yesterday evening.

But my mind is useless when it has positions.
No position it predicts correctly else .

 

[crown]

Great mind think alike :clap:
I had predicted a double bottom yesterday evening.

But my mind is useless when it has positions.
No position it predicts correctly else .

buddy, if you can think of it, you can also do it. Your mind is not useless, it is just that you are lacking some practice. I remember yesterday, when you posted about double bottom; and my comment was of contrary view. May be that comment would have stopped you in taking position. But at that time, I was really seeing the weakness in my markets. Today morning, when I see the opening, even then I was not comfortable in going long. It was when Nifty crossed 6040 that I took a long trade on Nifty, but unfortunately because the internet connection was giving problems I had to book the profit when Nifty was 6070. I just could not throw the trade and expect, I had to watch the trade which was not possible, therefore only I had to exit the trade early. Otherwise, I would have definitely followed the move around 6090 levels atleast.
But my point is, the importance is in following the market without any preconceived notions. The analysis, the ideas, the concept, the thoughts, the predictions all are off-the-market topics; but when we are in the market, it is the market which is to be followed, not our or others concept or ideas etc.
I remember a similar incident on some other thread; when I was just struggling to understand and I used to post questions seeking answers. One of the brothers overhere, was not much comfortable with my questions; reason because my half-cooked knowledge and understanding was making him suspicious over his understanding. Well, I immediately stopped posting questions after being told about that. But that thing helped me a lot. I got to understand how other people's views, how the news papers, tv channels etc. can make you feel doubtful over your understanding. And, as a result, I simply avoided listening, giving attention to any other thing but the charts and my understanding about it.
And you will be highly surprized to know that after that I have not lost any money; had some very good gains while apparently my trade was not suitable, it gave me profit. Then, I started to understand myself, how I think. And Bingo!!! Things are too much clear for me. I do not see the world markets at all, I do not listen to tv channels, I do not read any news on share market and I have been able to deal wid almost all the unsuspected and immediate counter moves of the market.
Why am I telling so much? simply because once I used to suffer like that as you are today. And because, it was on this forum that I gained/learned/understood the markets; I owe a lot to all the big brothers over here. I am sharing this so that it could be of some help to you; nothing else. I hope you won't take it otherwise.
Trading has more to do with personality development then to simple technical or fundamental stuff. Until and Unless, one believe in himself, he is ought to suffer; and the belief can only come when we trade just for the sake of trading and nothing else. Now, I trade because I want to trade. Profit comes automatically. I do not believe in anticipating the markets, I react towards their moves and it really works.
My apologies for such a long post, but this is me.

 

[MindlessTrader]

But my point is, the importance is in following the market without any preconceived notions. The analysis, the ideas, the concept, the thoughts, the predictions all are off-the-market topics; but when we are in the market, it is the market which is to be followed, not our or others concept or ideas etc.

Trading has more to do with personality development then to simple technical or fundamental stuff. Until and Unless, one believe in himself, he is ought to suffer; and the belief can only come when we trade just for the sake of trading and nothing else. Now, I trade because I want to trade. Profit comes automatically. I do not believe in anticipating the markets, I react towards their moves and it really works.
My apologies for such a long post, but this is me.

Good point bro, Market ie price is the king....and it should be followed....not our predetermind views ....

 

[crown]

Good point bro, Market ie price is the king....and it should be followed....not our predetermind views ....

bro...
if our predetermined view comes true we can make huge profits
but if our predetermined views does not come true, even then we can make some profit
but to tell you the truth, it was the most difficult task for me to do i.e. to follow the market and market only.
And even now, many times I go off the track like yesterday when the last two trades in Nifty ate the profit of the whole day. Therefore, while it is really very simple to say this; but following it by the core of my heart, is still not as easy.
Though, by the grace of God, I am able to do it reasonably.

 

[crown]

one more thing, I would like to submit
If someone wants to be successful in trading
The first and foremost requirement is to be a full time trader
Part time trading can give you part time satisfaction and part time gains
for full understanding, one has to be a full time trader; no other way except the God Gift.

 

[jagankris]

Thanks a lot Crown Bhai.Excellent words of experience.
Thanks for your encouragement and your precious time to write.

No worries,It was a generic comment and it has nothing do with my trading today.
I am a systems trader and trying to simply follow what my system tells.
I am trying to trade with out creating an opinion but mind always comes in between during range bound period
Breaking my head to find a solution.
If I am wasting my time there experts please let me know

I have learn't a lot from this forum.
I am really indebted to the forum members here.
Same here Stopped watching CNBC,Business Line long back.
Even if at all happen to see CNBC I really enjoy the comedy show.
Stopped rushing for Dow,Asian markets details.

I am slowly getting rid of my aversion towards markets and I am trying to be friendly with markets.

Once again Thanks a lot Crown Bhai.
I have one good bro whom I can rely upon :hap2:

Best Regards,
JK

 

[saivenkat]

Thanks a lot Crown Bhai.
I have learn't a lot from this forum.
I am really indebted to the forum members here.

Naturally every one grows up only after coming to this forum

Same here Stopped watching CNBC,Business Line long back.
..

Even if at all happen to see CNBC I really enjoy the comedy show.

..

Stopped rushing for Dow,Asian markets details.
Why run crazy about Dow, after all its not a carbon copy of our market.Good thing you did

I am slowly getting rid of my aversion towards markets and I am trying to be friendly with markets.

Now i agree that we are on same lines..because these are all those things that i did some years ago, but not doing now.

Once again Thanks a lot Crown Bhai.
I have one good bro whom I can rely upon :hap2:

Best Regards,
JK

Take care Jagan