Archives of “January 5, 2019” day

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RISKING

  
  Education
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Trading is all about risk Control !The Following excerpt is from one of my favorite audiotapes ,’Risking ‘by David Viscount.I keep this on my desk to remind me each day to keep “Risking .”Only a person who risks is truly free

To laugh is to risk appearing the fool. To weep is to risk appearing sentimental. To reach for another is to risk involvement. To expose your feelings is to risk exposing your true self. To place your ideas, your dreams before a crowd is to risk their loss. To love is to risk not being loved in return. To live is to risk dying. To believe is to risk despair. To try is to risk failure. But risks must be taken, because the greatest hazard in life is to risk nothing. The person who risks nothing does nothing, has nothing, is nothing. They may avoid suffering an d sorrow, but they cannot learn, feel, change, grow, love, live. Chained by their attitudes they are slaves; they have forfeited their freedom. Only a person who risks is free.

THE STOCK MARKET IS DESIGNED TO FRUSTRATE

  
  Education
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Our frustration is greater when we have much and want more than when we have nothing and want some.  – Eric Hoffer
Most plans are just inaccurate predictions. – Ben Bayol

While technical analysis is a wonderful tool, traders who abuse it will lose to a market designed to frustrate even the best laid plans. 

-Last week ,We had written on Friday we will see unexpected level.It made High of 6182.On Monday we had written either Today or Tuesday ….Mkt will reverse !!

-Our Hurdle-Laxman Rekha was :6231 (It kissed 6208 ,6210 ) and crashed.

-On Monday written sell everything with stop of 6231 ,Same on Tuesday……!!

-Wed ,Thur & Today too…We were Highly Bearish in NF ,BANK NF ,Bank Stocks ,Fertilizer Stocks and Yesterday written :Sell AUTO Stocks !

-What happened u all know !

Today our Target below 6066 was of 5950 level !!

Have u Read our Bank NF levels ??No……U had not read !!

-Do u What happened ??It kissed 11040 level !!

Today During Trading hrs ,Written to Buy NF with stoploss of 5980- 5950.

It was mentioned not breaksing 5980 & remains above 6010 will create fire work !!

-So your stoploss was of 25-30 points !!

Now if u are not able to take risk of  30 points was first support and there after 5950 was rock solid last support.

-Don’t act smart ,If u had bought had 6010 level and stoploss was triggred at 5980…Risk was 30 points and if u had hold upto 5950 then u had lost Rs.60 points maximum……Below 5980 it took 15 minute to break 5950 level.

Same Happened with Bank NF too !

Here we track every moment of market.Don’t think writing comments wiill give u something.Stoploss was triggred (that too u all traded blindly )read again…our Intraday update.

-Don’t worry about us.From 6200 to 6000 level….nobody sold NF ,Bank NF ,Bank Stocks ,Auto Stocks……just losing 30-40 points and started doing bla-bla.Next time u post comment or write …do mention your contact number !!

Technically Yours/ASR TEAM/BARODA

16 Points -During and After the Trade

  
  Education
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1. What’s your game plan if it goes against you and threatens your survival?

2. Will you be able to get out? Did you take that into account in your workout?

3. More typically, what will you do if it goes way against you and then meanders back to give you a breakeven? Or if it immediately goes for you or aginst you?

4. Would you be willing to take a ½% profit if you get it in the first 10 minutes?

5. Did you test whether taking small opportunistic profits turns a winning system into a bad one?

6. How will unexpected cardinal events affect you like the “regrettably,” or the pre-annnouncement of something you expected for the next open? And what happens if you’re trading an individual stock and the market goes up or down a few percent during the day, or what’s the impact of a related move in oil or interest rates?

7. Are you sure that you have to monitor the trade during the day? If you’re using stops, then you probably don’t have to but then your position size would have to be reduced so much that your chances of a reasonable profit taking account of vig are close to zero. If you’re using 10% of your capital on a trade, they you’ll have to monitor it for survival. But, but, but. Are you sure you won’t be called away by phone calls, or the others?

8. Are you at equilibrium in your personal life? You’re not as talented as Tiger Woods, and you probably won’t be able to handle distressed calls for money or leaks on the home front. Are you sure that if you’re losing you won’t get hit on the head with a 7-iron, or berated until you have to give up at the worst possible time?

9. After the trade did you learn anything from the trade?

10. Are you organized sufficiently to have a record of all your trades for your accounting and learning? (more…)

‘Essential Qualities of the Speculator’

  
Analysis, Education
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1. Self-Reliance. A man must think for himself,
must follow his own convictions. George
MacDonald says: “A man cannot have another
man’s ideas any more than he can another
man’s soul or another man’s body.” Self-trust
is the foundation of successful effort.

2. Judgment. That equipoise, that nice
adjustment of the faculties one to the other,
which is called good judgment, is an essential
to the speculator.
3. Courage. That is, confidence to act on the
decisions of the mind. In speculation there is
value in Mirabeau’s dictum: “Be bold, still be
bold; always be bold.”
4. Prudence. The power of measuring the
danger, together with a certain alertness and
watchfulness, is very important. There should be
a balance of these two, Prudence and Courage;
Prudence in contemplation, Courage in execution.
Lord Bacon says: “In meditation all dangers
should be seen; in execution one, unless very formidable.”
Connected with these qualities,
properly an outgrowth of them, is a third, viz:
promptness. The mind convinced, the act should
follow. In the words of Macbeth; “Henceforth the
very firstlings of my heart shall be the firstlings
of my hand.” Think, act, promptly.
5. Pliability. The ability to change an opinion,
the power of revision. “He who observes,”
says Emerson, “and observes again, is always
formidable.”
The qualifications named are necessary to the
makeup of a speculator, but they must be in well-balanced
combination. A deficiency or an overplus of one
quality will destroy the effectiveness of all. The possession
of such faculties, in a proper adjustment is, of
course, uncommon. In speculation, as in life, few succeed,
many fail.

These are his ‘Laws Absolute’: (more…)

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