General Trading Chat

[Smart_trade]

There was a news of large railway goods fare hike which is definitely bad for inflation.Inspite of this bad news market did not go and crack below 8600 that was an indication that it does not want to go down.How market reacts to a news is a very reliable indicator of market's next action.

Smart_trade

 

[Smart_trade]

Kyu brother??

Dow is up more than 90points...so gap open likely tomorrow.Bank nifty will go higher,look at its chart in last 30-45 min today and closed at the near high.

ST

Edit : Dow up 70 points now.

 

[deba72]

Not long ago, there was this old CNBC face. Wonder how many remember this controversy. The guy was giving tips on TV and personally and on behalf of his clients taking positions exactly contrary to that. Caught. Never believe these so called mkt or technical expert. Frauds aplenty in financial world. Situation no different in so called educated West. Whole 2008 was b'cos everyone was selling lemon to other guy.

https://churumuri.wordpress.com/2008/04/02/the-next-time-you-see-this-face-on-cnbc/

http://articles.economictimes.india...fair-trade-practices-regulations-mathew-easow

I used to see him quite often.. His office was 4 or 5 buildings away from my office..His was a very well established case of 'dishonest' tips...

Unfortunately he died suddenly due to a massive heart attack.. there were rumours in the area that he faced huge losses and he died due to that.... but I could not check the authenticity of the news...

 

[lemondew]

Just got a little curious. Hopefully i vent bugged u?

For my system: I ve something in place which will put some trades. Fully understand I shd be able to trade without knowing TD.

Thought It shdnt harm me if I know it.

Sir from your questions I feel that you are desperately trying to find a system which will work for you. TD point reversal is NOT a trading system and it is an indication which should be used along with your existing system.First find a proper system with set up,entry,exit,stoploss etc and then use TDReversal as a supporting method.Finding a system is not easy it will take months or even years to get a system which suits your mindset.

Smart_trade

 

[Punter786]

Dow is up more than 90points...so gap open likely tomorrow.Bank nifty will go higher,look at its chart in last 30-45 min today and closed at the near high.

ST

Edit : Dow up 70 points now.

Sir, lots of time left in closing. See this news. Any good news for Amrika is bad news for India. Rate hike in September? http://www.cnbc.com/2016/08/23/new-home-sales-for-july-2016-reported-by-the-commerce-department.html

 

[Smart_trade]

Sir, lots of time left in closing. See this news. Any good news for Amrika is bad news for India. Rate hike in September? http://www.cnbc.com/2016/08/23/new-home-sales-for-july-2016-reported-by-the-commerce-department.html

What the market is telling us is that it does not want to go down....news will be there on both sides but listen to what the market is telling us and not put our views on it....but if it decides to go down ,it will be good too...we will trade from the short side....we should neither be permanent bears or permanent Bulls...change as per the weather (meaning trend).

ST

 

[Punter786]

What the market is telling us is that it does not want to go down....news will be there on both sides but listen to what the market is telling us and not put our views on it....but if it decides to go down ,it will be good too...we will trade from the short side....we should neither be permanent bears or permanent Bulls...change as per the weather (meaning trend).

ST

I also go mostly by market mood... but here mkt has kind of paused... the fuel (liquidity) on which this rocket rally took off is about to come to end! Our macros are still to not there where they ought to be for 8700 kind of valuation. Recovery and green shoots talks going on for so long but it has not arrived so far and I don't see it arriving post monsoon also! If India Inc delivered tepid Q2 then we could see significant sell off IMO. I see mkt trading sideways in the months to come. Upper side looks limited to me but downfall could be significant from here and perhaps can happen on any day. I cannot predict this "any day" hence more preference for shorting.

 

[Smart_trade]

I remember a trade at the time when PV Narsinha Rao led congress had to prove its majority on the floor of the house and the few votes from Zarkhand were making a difference in the very thin majority which the Govt had. I had a large short position and news came on the night that Govt most likely will fall....

I was expecting the market to open atleast 30-35 points down ( talking about RIL as we used to trade in that ) and I was expecting to make a large profit at open .Market opened just 7-8 points down and stabilised at about 5 points down from the earlier day's close...I asked myself ,here Govt is likely to fall and the value of this event only Rs 5 ? There is something wrong and market was telling us that it does not want to go down.I covered my short position.Market closed little above the previous close.

As it happened the votes were managed and the Govt survived in the late evening session and the market opened with a gap up and continued in a strong up move for next 2-3 days....if I had not listened to what the market is saying, it would have been losing trade ....so listen to the market...

Smart_trade

 

[jain.er]

I remember a trade at the time when PV Narsinha Rao led congress had to prove its majority on the floor of the house and the few votes from Zarkhand were making a difference in the very thin majority which the Govt had. I had a large short position and news came on the night that Govt most likely will fall....

I was expecting the market to open atleast 30-35 points down ( talking about RIL as we used to trade in that ) and I was expecting to make a large profit at open .Market opened just 7-8 points down and stabilised at about 5 points down from the earlier day's close...I asked myself ,here Govt is likely to fall and the value of this event only Rs 5 ? There is something wrong and market was telling us that it does not want to go down.I covered my short position.Market closed little above the previous close.

As it happened the votes were managed and the Govt survived in the late evening session and the market opened with a gap up and continued in a strong up move for next 2-3 days....if I had not listened to what the market is saying, it would have been losing trade ....so listen to the market...

Smart_trade

Congress bought loyalty of Jharkhan Mukthi Morcha (Jhummo) that was a big scam which never reached it real conclusion

 

[Smart_trade]

Congress bought loyalty of Jharkhan Mukthi Morcha (Jhummo) that was a big scam which never reached it real conclusion

Cash of Rs 1 Cr was deposited in someone's account and nothing happened to this investigation.

ST