General Trading Chat

[amitrandive]

I donot know how many of us read the business magazines like Business India, Business World, Business Today, Economic and Political weekly. These help in unserstanding the business and knowing how economy is doing and which sector and companies are doing well in that .If we dont want to buy these magazines,join a good liabrary nearby and read all these.

Must read for all traders....we must raise above "bought here and sold there" and see the bigger picture for wealth creation as wealth creation needs time in investments than timing the investments.....for buying and selling in trading we have our systems but these information greatly helps in building wealth through investments.

Do we all read financial newspapers atleast ?? Start with reading atlest one financial newspaper.

Smart_trade

ST Sir

Thanks for this post.Idealy we should have a hard copy of the newspaper and magazines.When we spend money on books/magazines atleast we tend to read them.

Financial literacy is a must for every trader and this habit should be instilled very early in life.

 

[sudoku1]

8383 done dana done

 

[Smart_trade]

ST Sir

Thanks for this post.Idealy we should have a hard copy of the newspaper and magazines.When we spend money on books/magazines atleast we tend to read them.

Financial literacy is a must for every trader and this habit should be instilled very early in life.

Yes...nothing to beat the crisp feel of the newspaper we get in the morning...morning 60 min are for reading newspapers, hot cup of tea and on days when newspapers have holidays, we feel as if we are missing something....

ST

 

[niftychartreader]

8383 done dana done

Did you open terminal late
8385 was the open price

 

[onlinegtrash]

ST Sir

Thanks for this post.Idealy we should have a hard copy of the newspaper and magazines.When we spend money on books/magazines atleast we tend to read them.

Financial literacy is a must for every trader and this habit should be instilled very early in life.

Basic risk literacy is very essential for not only traders but for every one.

This is amazing, I became aware of 'risk literacy' only in my late 20s blowing up decent chunk of money. My dad did the same in his late 20s but never figured out why his business venture blew up still worse went on raking up debt beyond his means (but he never thought that will be the case at that time) and again I had to clean up the mess too... costing precious years for me blocking me from going for higher studies/start a business early, costing precious years for my dad too and missed wealth accumulation chances for my dad.
This is not just my story but story of typical middle class people.
Although we are doing well now... but the amount of wealth squandered from my grandpa's life story is even more astounding !

These people never understood compounding, never understood increasing the exposure slowly to uncertain business but keeping the risk constant, never understood they should have long term value investor mindset and should not waste their money on trivial things,
they never understood liquidity crunch and forced liquidation process where they should sell their assets to cover their leveraged risky trades for fire sale price.

Still worse my grandpa and dad were communists... so you can guess their attitude towards wealth, business and money.

Now its all upside down because of me

I learned stupid differential/integral calculus and extraction of copper and benzene ring and plant kingdoms in school... it never occurred to anyone to teach the single most important skill that will be useful to me later in days and can change destiny of people for good! Well high school calculus and engineering math is not stupid but 'basic risk literacy' is way way way more important than these subjects and for ordinary folks calculus is utter waste of time.

 

[sudoku1]

smthing fishy....Nifty is blue 3 points while sensex tanked 75 points....pointing 2 a big muv in latter half !:annoyed:

 

[Smart_trade]

smthing fishy....Nifty is blue 3 points while sensex tanked 75 points....pointing 2 a big muv in latter half !:annoyed:

This is for last 45 min....sensex negative and nifty positive.

ST

 

[Raghuveer]

Well said!
A lot of others things that are "taught" in "schools/colleges" are also waste.

Basic risk literacy is very essential for not only traders but for every one.

This is amazing, I became aware of 'risk literacy' only in my late 20s blowing up decent chunk of money. My dad did the same in his late 20s but never figured out why his business venture blew up still worse went on raking up debt beyond his means (but he never thought that will be the case at that time) and again I had to clean up the mess too... costing precious years for me blocking me from going for higher studies/start a business early, costing precious years for my dad too and missed wealth accumulation chances for my dad.
This is not just my story but story of typical middle class people.
Although we are doing well now... but the amount of wealth squandered from my grandpa's life story is even more astounding !

These people never understood compounding, never understood increasing the exposure slowly to uncertain business but keeping the risk constant, never understood they should have long term value investor mindset and should not waste their money on trivial things,
they never understood liquidity crunch and forced liquidation process where they should sell their assets to cover their leveraged risky trades for fire sale price.

Still worse my grandpa and dad were communists... so you can guess their attitude towards wealth, business and money.

Now its all upside down because of me

I learned stupid differential/integral calculus and extraction of copper and benzene ring and plant kingdoms in school... it never occurred to anyone to teach the single most important skill that will be useful to me later in days and can change destiny of people for good! Well high school calculus and engineering math is not stupid but 'basic risk literacy' is way way way more important than these subjects and for ordinary folks calculus is utter waste of time.

 

[Smart_trade]

Basic risk literacy is very essential for not only traders but for every one.

This is amazing, I became aware of 'risk literacy' only in my late 20s blowing up decent chunk of money. My dad did the same in his late 20s but never figured out why his business venture blew up still worse went on raking up debt beyond his means (but he never thought that will be the case at that time) and again I had to clean up the mess too... costing precious years for me blocking me from going for higher studies/start a business early, costing precious years for my dad too and missed wealth accumulation chances for my dad.
This is not just my story but story of typical middle class people.
Although we are doing well now... but the amount of wealth squandered from my grandpa's life story is even more astounding !

These people never understood compounding, never understood increasing the exposure slowly to uncertain business but keeping the risk constant, never understood they should have long term value investor mindset and should not waste their money on trivial things,
they never understood liquidity crunch and forced liquidation process where they should sell their assets to cover their leveraged risky trades for fire sale price.

Still worse my grandpa and dad were communists... so you can guess their attitude towards wealth, business and money.

Now its all upside down because of me

I learned stupid differential/integral calculus and extraction of copper and benzene ring and plant kingdoms in school... it never occurred to anyone to teach the single most important skill that will be useful to me later in days and can change destiny of people for good! Well high school calculus and engineering math is not stupid but 'basic risk literacy' is way way way more important than these subjects and for ordinary folks calculus is utter waste of time.

Very true...understanding of risk and how to control it is very poor in we middle class non business class people. Our youngsters and the ladies must have knowledge of financial transactions,compounding, legal procedures as these are as important as driving a car or using internet these days...very essential skills.

On my weekends I help old people with their problems of pensions, bank accounts, taxes various legal documents etc and I found that this knowledge is very bad even in educated families....when someone has to make an affidavit, they feel as if it is something that has to come from Supreme Court of India..

I tried to teach things like mutual funds, income tax, indemnity bonds, affidavit, will, probate,succession certificate, how to read various agreements,property agreements,apartment deeds, conveyance,property registration etc to my relatives ( particularly ladies as they need to know this more) free of cost on a Sunday...the typical responce was as under :

1) All this needs commerce background...we wont understand any of these.
2) We go out in on Sundays so cannot make it.
3) All these things my husband's office or CA takes care so why should I bother ?
4) Finance is not my area...I get bored...
5) We will see when it comes to us....
6) My husband will handle all this...

Needless to say the class never took off....

Smart_trade

 

[RAAMAKANT]

Again caught High of the Day............