Namaste - My Learning of Trading in Nifty

C

crown

Well-Known Member
#471
#471
Some conclusions made in the process of my learning to trade.

Trading is alike any other thing/skill that we learn during our life time. For example learning to walk, learning to swim, learning to write, learning to ride a bicycle etc. etc.

In order to learn anything, a few basic requirements are:

1. A wish/desire/will to learn that thing.
2. Willingness to take the risk and be in the danger zone.
3. Ability and luck to survive the injuries.
4. Persistence and luck to try again and again till one succeed in learning.
5. Discipline and the outlook for always having the scope of improvement.
 
C

crown

Well-Known Member
#472
#472
looks like Nifty has come into corrective cum consolidation range. Initiating long positions within this range is somewhat risky; though on the basis of intraday support levels, one can try. I would prefer to enter long in Nifty if it either closes above todays' high or it takes support above 6000 levels during any temporary down move.

However, the flag/consolidation/corrective phase of Nifty, if continues for next week, can cause Nifty to touch/test the levels of 5900-5800.

I think till the expiry of October Month, Nifty may remain highly volatile and deceptive.
However, the up trend is still intact.



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C

crown

Well-Known Member
#475
#475
exited from Surya Pharma @ 316.40
however, it went up significantly after that; but because I was expecting the markets to be weak today, I had to come out of the trade. Though, if I would have waited for 5-10 minutes, may be I would have got some more profit. But, even this is good profit i.e. more than 10%.
And the factor of luck again came into play today, the other scripts which I am holding and watching came down significantly, except this Surya Pharma.
And, thanks to the God that I am not holding any long position in Nifty. Though, I was tempted to have some long positions [which I build yesterday around 2.30 pm and came out with very nominal loss], but this time I was very greatly saved.
And, again this time too, near expiry period, most of the technical indications of my system are working wrong. And on the basis of past 3-4 months experience, I just managed to remain away from taking any major trade and holding positions.

Reliance Infra, Hinduja Ventures, and Berger Paints were looking great to make long entry; but still keeping myself away with very great efforts. It is really hard to control the temptation. May be during the last hour, I will try to have some good long entries.

Nifty is breaking almost every support level given by the news channels. 5980 is the next hope to be held by the Nifty. And, if there occurs no opportunity for entering long today, I doubt even tomorrow, I won't be having any chances.
 
C

crown

Well-Known Member
#476
#476
Nifty ka chart aisa lag raha hai jaise Gama Pahalwaan ne dhool chata dee ho :lol:
 
C

crown

Well-Known Member
#477
#477
6000 broken in Nifty spot
 
C

crown

Well-Known Member
#478
#478
it seems the whole exercise pending for tomorrow has done in today's session
 
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