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Intraday Update :Nifty Future -Last support at 4982

  
Analysis, Education


In Morning indicated if not crosses high of 5071 and trades below 5053 level.Then watch panic upto 5000-4982 level.

Now ,While Updating trading at 5002 level.Just watch 4982 level very carefully.

Once breaks with volumes and trades below this level for 5-10 minutes then expect nonstop panic upto 4929-4911 level.

Time Theory indicates from 13:15 till end session.Unexpected Volatility on card.

Sell Bank NF @ 9180 LEVEL….Message was given at 12 :20 to our Subscribers.With target of 9028-8964 level.Now trading at 9102.

Morning ,I had given a hint from Today till Thursday one side move across Globe & on Friday U-turn !!!

Updated at 12:46/1st June/Baroda

Herd Mentality

  
  Education
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“Making money is easy, it is keeping it that is hard.” 

Keeping the profits is what successful trading is all about. It’s not about making money. It is about risk management. Good risk management translates into good profits. Great risk management translates to great profits and a long-term career.

So what about the herd mentality?

You have all heard about it over the years. Psychologists talk about it all the time, but how does it play out in the applied trading world?

The cliché is that following the herd is dangerous – bad for trading and leads to huge losses.

But my perspective is different and one that states that following the herd is  bad only if it was not YOUR game plan. You see, traders don’t mind losing money. That’s right. They don’t. What they mind is losing money doing stupid things. And one of the stupidest things a trader can do is to follow someone else’s game plan instead of their own.

If you are going to lose money (and you are going to about half the time) then you might as well lose it doing the right thing, which is listening to YOUR ideas. Your instincts. Your research and YOUR game plan.

Trading is not complicated. We make it complicated.

Simplify the process. Break your trading down to its basics and follow your plans. And if your plans happen to be in line with the herd, then so be it. And if they don’t, that is fine too. The point is to be consistent in your approach and let the market come to you.

Focused Trading

  
  Education

Many traders seek assistance for the problems they encounter in markets. They are focused on the holes in their trading: the areas where they are failing to achieve their goals. They think about their problems, they set goals to correct their problems, they work on their problems, they discuss their problems. In a nutshell, they become problem focused. The more they focus on their deficits, the more they feel deficient. Ironically, their efforts at self-improvement only serve to reinforce a negative, problem-based view of themselves.
A different approach is what is known as a solution-focused approach to change. Instead of focusing on what is going wrong, you focus on goals: what you want to go right. Once you identify–in concrete, positive terms–what you’d like to be doing differently, then you can focus on occasions in which you are already achieving those goals, even in small measure. Instead of asking a trading guru, for example, where you should place your stops or time your entries, you review your own trading records and identify occasions in which you *did* place your stops or time your entries effectively. This enables you to reflect on these positive instances and develop solution patterns out of the things you’re already doing correctly.

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