General Trading Chat

[vivektrader]

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

ST sir, can you guide me to some literature or book regarding trade management, although I am expecting that only experience can teach me that, still asking.
Thanks

 

[Punter786]

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

I am a apolitical person but in hindsight both buying cases (1993 and Nuclear deal vote) turned out to be good for India. In any case no scam reaches its conclusion in India. One of the beauty of India! Law and taxes are only for middle class. Sad reality.

 

[sansarva]

ST sir, can you guide me to some literature or book regarding trade management, although I am expecting that only experience can teach me that, still asking.
Thanks

May be you can have a look at price action by Al Brooks.

 

[tradingstudent]

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

Dear ST Sir,

Does it mean tracking the news is irrelevant? And is focusing on price action sufficient? I am talking about major news events like the one you told about.

Based on what you say, does it mean that the smart money/operators/Institutions/FII have advanced knowledge of what is going to happen?

[smart money/operators/Institutions/FII are way ahead of the curve in terms of sources, contacts, networking and technology], but my question is do they have knowledge of so called unpredicatble events as well?

 

[oi trader boi]

If amateurs are getting broken by big losses and Pro getting broken by small losses,then who who's making the money?

 

[niftygupshup]

Kyu brother??

ha ha
because charts says so

 

[candle]

Dear ST Sir,

Does it mean tracking the news is irrelevant? And is focusing on price action sufficient? I am talking about major news events like the one you told about.

Based on what you say, does it mean that the smart money/operators/Institutions/FII have advanced knowledge of what is going to happen?

[smart money/operators/Institutions/FII are way ahead of the curve in terms of sources, contacts, networking and technology], but my question is do they have knowledge of so called unpredicatble events as well?

Most of the times, such events are not unpredictables my dear. Some people have access to this kind of information, in advance or before the general people.

 

[amitagg]

If amateurs are getting broken by big losses and Pro getting broken by small losses,then who who's making the money?

system traders and not discretionary traders is it

 

[tradingstudent]

Most of the times, such events are not unpredictables my dear. Some people have access to this kind of information, in advance or before the general people.

Hello Candle

Most of the times, such events are not unpredictables my dear.

Just be sure, did you mean such events can be predicted and these guys have upfront information?

Thanks

 

[tradingstudent]

If amateurs are getting broken by big losses and Pro getting broken by small losses,then who who's making the money?

Brokers

and

Government (This tax, that tax...)

and

Sexy Trader (Forum Member)