General Trading Chat

[niftygupshup]

anticipating a good upmove tomorrow
trading above
will be looking for 19500+ and 8700+

sorry, read middle line as
trading above 19333 and 8646

BTW, looking at some scrips, charts are bullish
HDFCBANK 1260+, ICICIbank 255+, RIL 1025+, SBIN 260+, INFY 1050+, TCS 2626+
These are no targets for today or tomorrow, just tukkas, so take in lighter sense
I may be wrong totally

 

[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?

No,news is not irrelevant.It is very important for short term movement of the market.How market reacts to a news is more important than the news.

In India 90% of large size trading is done on insider news.The event posted by me is not a unpredictable event like earthquake of floods .Smart money always gets the insider information about such management/fixing and they are ahead of us retail traders .We can compete with them if we see how markets react to the news.That gives a trader huge advantage in trading.

Smart_trade

 

[Smart_trade]

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

It is the pros who take larger profits and smaller losses make money in the market apart from Govt ,brokers,data vendors etc.

Smart_trade

 

[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

Not aware of any good book on trade management.It comes by experience,practice and thinking .

ST

 

[vivektrader]

Not aware of any good book on trade management.It comes by experience,practice and thinking .

ST

Sir, one specific question regarding trade management, when we say that "we should not let winners turn losers", what should one do, apart from trailing on pivots and 2bars, should we book half at 1R or more or something else?
Asking this as there are many false starts during morning session.

 

[XRAY27]

Great quote !!!

 

[Smart_trade]

Sir, one specific question regarding trade management, when we say that "we should not let winners turn losers", what should one do, apart from trailing on pivots and 2bars, should we book half at 1R or more or something else?
Asking this as there are many false starts during morning session.

Yes, booking part profits puts some money in the pocket.

To book part or hold is a decision which a trader has to make looking at the market. If the market is choppy,sideways, booking profits will help....but if markets trend strongly, holding till the end works better...so individual comfort level really.What is important is making money with mind comfort and not with tense mind.

ST

 

[Pradeep Narayan]

Not aware of any good book on trade management.It comes by experience,practice and thinking .

ST

Absolutely... this is the key to success and there are few literature on this subject.

Some areas one can focus on are:
a. Trading is business, and as with any business cost control is important
b. Cost of trade is linked with position size. Position size is linked to trading capital & leverage.
c. Risk% should include cost of trade

How one arrives at a comfortable 'Capital to Leverage to Cost as Risk %' depends on individual risk appetite. And this comes with experience

 

[amitrandive]

No,news is not irrelevant.It is very important for short term movement of the market.How market reacts to a news is more important than the news.

In India 90% of large size trading is done on insider news.The event posted by me is not a unpredictable event like earthquake of floods .Smart money always gets the insider information about such management/fixing and they are ahead of us retail traders .We can compete with them if we see how markets react to the news.That gives a trader huge advantage in trading.

Smart_trade

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Disclaimer:This is not a trading call.This is for educational purpose only.

Smart Money :thumb:

 

[timepass]

Idea spot - the scrip took a big hit today, but seems like there is heavy buying at 97.