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| From : Subramanian J at 09:09 PM - Sep 19, 2009 ( ) |
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Good Subbu sir, but instead of assumption we should findout some trend reversal systems like fast moving ema crossover(Price cuts 5 or 8 ema from above), am expecting good strategy from u for finding trend reversal point, then only trend will be our friend - Thanks
Though its a 30 months old post ,, just brought this again for "Those Who missed "
Thnx for bringing up this again..........this is absolute. Go with the trend.........at the most hedge positionals with the less risky options for overnight/weekends and exit on next opening or after a watch either in small losses or profits.
Hey Subbu,
A gr8 read no doubt whatsoever.More often i tried to convey the same that please trade as per the trend to be precise what you see on the terminal and not what XYZ have told or what you feel.
Seldom speculation would earn you money.It's not at all a rocket science to guess that majority of retail investors are on the loosing side even when Nifty was at 2500 Odd and now when Nifty is at 5900 levels.
Traders need to be a slave and let master or Nifty take the first step,irrespective of rallies or falls,this is the only way to trade and benefit.The biggest advantage of this is not earning profits but ull get a chance to exit ur positions (if not in profits) in minimal losses.
Nyways hope this would help and such mistakes(rather trading against the trend) would be negligible.
Happy Trading
Very logical and Senseful state ment thats what I say dont be biased........Excellent View
For those Who missed .,,,,
Though its one year Old Post , i just brought this Post again for some reasons.
I Happend to interact with few members , and 7 out of 10 are hesitating to buy @ this level or they are strucked with shorts and puts frm very low level .
Some even shorting on every rise of 100 points with the anticipation of a fall and asking wht to do now.
Hope this post will bring awarness.
I think the most important thing specially for day trader to find out the market trend and mostly traders due to lack of knowledge and technical symptoms blindly follow to others and finally make a huge loss.Playing with share market needs some experience and at least basic knowledge and no one can success without having some experiene and knowledge himself.
Excellent Fact Pointed Out Mr. Subramanian.......very obvious yet very forgetful by 90% traders.....reason to loose money...
RESPECTED SUBBU JI----THANKS FOR THE THREAD--
RESPECTED KAKAR JI-- I FULLY APPRECIATE YOUR EXCELLENT CONFESSION ---
IT IS GOOD YOU ARE SHARING YOUR VALUABLE EXPERIENCE--
I NORMALLY STAY IN BLUE CHIPS AND WAS ABLE TO RECOVER EARLIER LOSSES TO AN EXTENT
NOW I AM LEARNING BY FOLLOWING MUDRAA POSTS BY VETERANS AND WATCHING MOVEMENT OF GOOD STOCKS
YESSUBUJI, IT IS PSYCHOLOGICAL MATTER AND BECOME VERY STRONG WHEN WE SEE ANY CALL AGAINST THE TREND HE/ SHE become my favourite teacher .EVEN THOUGH THE THE MOST CALL ARE IN FAVOUR OF THE TREND WE CANT RELY THEM.PER ME THIS IS HAPPENING FROM FEAR OF PREVIOUS LOSS.THX FOR TIMELY POST. MAY BE MY LESSON WILL BE STARTED FROM THIS.
Thanks for providing all these details... also beware of margin money trading, pledging etc which looks to give profit at the start but at the end...
I also experienced all these mistakes but the moment I am NOT able to align myself to the trend and make profit...I thought of swtich to this field as my full time professional stock market player.. only when I could..
I am trying my best in the last 3 years.... this is my target in 2010... Thanks everyone...
I also totally agree with Pandit Ghanti ji as you will benefit by investing only unless you have a very sound technical knowledge ... this same thing is said by Shrikant ji numerous times ... In day trading only brokers benefit and people mostly make losses ... and vice versa
I am sharing my personal experience with you guys, in my earlier trading days I used to took positions and after taking position the stocks started moving in opposite direction and stop losses were hit and when I cleared my positions after booking losses as per SL, the same stock moved in the favorable direction and met the targets, so after seeing this happening quiet a few times, I stopped keeping SL (a very bad habit), I benefited say 7 out 10 times, but in the remaining 3 trades I got stuck so badly that I ended up in huge losses ... even wiping of the profits earned from those 7 trades .... so a silly observation of mine that my calls achieved targets after hitting SL resulted in huge losses for me..... One more silly thing I used to do was averaging an unfavorable stock position .... which resulted in more losses as I was moving against a strong trend.... but now I avoid doing all this .... One more thing I would like to add is, a person should only trade as per the levels he can afford ..... with out effecting his day 2 day life.
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