Archives of “Baroda” tag

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7 actions

  
  Education
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Perception-Action7 actions I do :
1) Enter a trade that doesn’t take off – cut it. I don’t care if it takes off after that.
2) Get a gut feeling that I’m on the wrong side of the market – cut it and reverse.
3) Stopped out twice on the same pair – stay flat and don’t trade until tomorrow.
4) In a trade that’s running well – only look at it towards end of current session and make a decision to stay into the end of the next one or not. (more…)

Fear & Euphoria

  
  Education
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fear-euphoria

It is inordinate “fear” and “euphoria” that prevent us from achieving our investment goals. And, the impact of these excessive emotions can be seen across the spectrum of traders.

  • The beginner who won’t put on a trade until he is certain the next trade will be a winner.
  • The trader who “knows” what the market will do and as a result refuses to exit a losing position.
  • The same trader who ignores market information that is contradictory to his position.
  • The same trader who becomes paralysed with fear – “Dear God, just let me break even! I promise I won’t do it again!”
  • The student who refuses to send in work because he doesn’t want to be told that his hours of work are “wrong”
  • The trader who after a series of wins feels “he’s made it!” …and becomes reckless.

Re-Evaluate

  
  Education
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Re-EvaluateBe willing to stop trading and re-evaluate the markets and your methodology when you encounter a string of losses. The markets will always be there. Gann said it best in his book, How to Make Profits in Commodities, published over 50 years ago: “When you make one to three trades that show losses, whether they be large or small, something is wrong with you and not the market. Your trend may have changed. My rule is to get out and wait. Study the reason for your losses. Remember, you will never lose any money by being out of the market.”

Steel Ingots :Honeymoon over ?

  
Analysis, Education
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Just refresh your memory and see in my last update on 23rd March ,I had written about Steel Ingots.

Just click here

From 28040 it skyrockted to 29650 level.

(What else u want in life ? )

After Hitting a high of 29650,Correction started.

-In just 5 sessions crashed to 27830 level.

Now ,What to expect ?

After Looking at weekly chart it looks that 27716 is crucial support.

                                                              

-Yes ,This is the major support !

-Three Consecutive close +Weekly close below this level will create another round of panic.

-Nonstop slide upto 26556-26169 not ruled out.

-Any Rise ,Any Revival…Sell Sell Sell.

I will update more to our Subscribers.

–Yes ,Gone short below 28950 and minted great money in 3 sessions itself.

Updated at 6:44/08th April/Baroda

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