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Ego and Impatience

  
  Education
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Ego: I never feel the need to prove myself to anyone by saying that I am always right, or that I am some trading genius that has it all figured out, nobody is. But I have one friend in particular that thinks he can trade in stocks, yet every trade he has ever made has been a complete failure, but you could never get him to admit it. He has more excuses and more reasons why he thinks he is still right, even though he constantly losing money. Leave your ego out of the markets, admit when you’re wrong, and stay humble when you’re right.

Impatience: Not having enough patience has forced me to put on some horrible trades, having patience has lead to some of my most profitable ones. Pretty self explanatory.

Signs of Depression

  
  Education
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Trading demands preparation ,concentration and executions.If your trading is getting worse or making no progress it could be a sign of mild depression.Some of the signs of mild depression are :

*Insomnia
*Lack of appetite
*Not wanting to do anything
*Not showering ,shaving or getting dressed in the morning.
*Feeling of inadequacies
*Not wanting to talk to friends
*Consumption of alcohol above normal amount.
*Spantaneious crying
*Need to be left alone
*Not wanting to talk on the telephone when it rings

This is just partial list.Should the symptoms become extreme please see a physician ,,there after excellent medications that can jolt you out of this condition.In addition there after some homeopathic remedies that just might to the trick.

1)Take a three to five day break and do not watch the monitor or the charts at any time.
2)Begin an exercise program-this increases the production of endorphins in our brain ,which help raise our spirits.

3)Find a hobby to take your mind off your woes.

4)Begin a positive thinking program into your daily routine-such as Tony Robbins-Personal Power Program.
5)Do something to help someone much more challenged than you.Battered wives and battered children,the homeless ,blind elderly people ,etc.

6)Change your diet to eat only wholesome foods with no additives.No soft drinks ,alcohol ,high sugar deserts.Flood your body with water ,fresh fruits and vegetables and small amounts of protein.

You do not need to devote a lot of time to any of these but a little of each one will yield recognizable results.If the conditions gets worse see your physician !

ICICI Bank :Target achieved ,but still looking weak

  
Analysis, Education
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Dear Readers & Traders ,On 8th April -I had written sell ICICI Bank below 976 level with target of 953 in hrs only.

Again on 13th April (Day before yesterday written to sell it ..Remember Kill me )My target below 953 was 930 level.

Now ,Today Just see it made a low of 930.65 in Future and now trading at 934 level.

One of the most important keys is to take action. You cannot be on the sidelines and expect to become an expert.

You can learn the basics of reading the tapes, reading of the charts, and deciphering the news. However, to be really good at it, it becomes an art. It is a skill that you can develop.

The things you need to keep in mind are:

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    • Be in the game.
    • Keep track of your actions.
    • Examine you actions and see if they serve you or if they need any adjustments.
    • Have an expectation of winning, instead of not losing.

Now ,Suppose break and closes below 930 level too with volumes then I expect stock to kiss 912-907 level.

Just Think ,What else u want in life ?

Updated at 11:45/15th April/BARODA

The Fallacy Of Higher Effort = Higher Returns

  
Analysis, Education
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mailEvery week I will try to dedicate some time to answering questions that readers and  members send in to me.
First off, thank you again for letting me know what is on your mind and for pointing out topics I need to discuss further. While I’m not able to answer all of the questions submitted, I have read each one submitted to me and will be looking for opportunities to share information that will be helpful to you in the coming weeks.
Today just covering one question sent by one Trader.
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Q:  The harder I try, the more money I lose. What’s going on?

 

A:  This is a fairly common phenomenon which is why we have to learn how to adapt to market conditions and be patient with our strategies. Just because you “try harder” doesn’t mean that your profits will expand equally in relation to your effort. While effort helps create and sustain an edge, at the end of the day you still need the market to cooperate with whatever you are doing.

The best analogy I can provide here is one that many golfers are familiar with. If you’ve ever golfed in high winds, you know that your score will often be higher. Some of this, obviously is due directly to the windy conditions (which you have no control over). (more…)

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