Intraday profit system

[4xpipcounter]

NTrader, good point! If someone jumped in the market and made 500 points in one day, there would not be a peep out of the markets being fixed. But, if they were on the wrong side of it, ooooh maaan!!! Someone was ready to sue when they bankrupted their account on one trade. Uh...pardon me...if you bankrupted your account, that was your fault.
No one is ever going to cry foul when they are on the right side of the trade.

Yes . . .

Our focus should be on our Job and whatever helps us extract our points from the price moves that happen.

Do not know if there is manipulation or not, but now that we are already committed to be traders this is not even a right question.

If there is manipulation so be it, can i trade in-spite of that is the right question.

Thanks

 

[Debarghya Mukherjee]

This is why I always ask you to make some comments here.
You always comment bold and honest. It doesn't matter I am agree or disagree with you, but I like your analytically comments.

LOL, Debargyha, either I rock or I don't know what I am talking about. I prefer to be somewhere in the middle.
Okay, enough of that. This is the post I made 5 minutes before the market opened, and the time stamp at Nifty50 will verify it, "With the thrust we got heading back north, I'm expecting for it to continue to my WR3 at 4953. It's show a strong week anytime a 3 is hit, and that is what we are in for this week."
Without sounding like I'm tooting my horn, there was no doubt in that statement, because the move was strongly obviated from a TA perspective.

If you follow that FA stuff, I'm knocking it, but if all that information you gave was suppose to create a downside movement in Nifty, then something is wrong somewhere, and I do not mean your broker fixing the price action.
Quite frankly, I'm dumb as a box of rocks when it comes to the FA's. I choose to be that way, because I do not want the FA's creating any kind of a bias against my TA's, because I know they are correct (Understand what I mean is they are correct for me.).

Look. I've told my friends here in the local area the same thing, so I'm not cutting a shine as if hiding behind a computer screen. "You need to have total control of all your trading decisions. As traders, we need to take full responsibility of everything we do. Once you blame the broker, regardless of the reasons you use, you take all control and responsibility out of your hands."
I'll be honest. I did not win any popularity contests with a few people I told the latter statement to, but it's the truth. That's all that counts.

Let me also address a couple of the statements you made that I know something about. My responses are in bold print

 

[NTrader42]

Uh...pardon me...if you bankrupted your account, that was your fault. No one is ever going to cry foul when they are on the right side of the trade.

Hey Paul

If i bankrupted my account then the only reason it happened is because there is an account to bankrupt. No account no possibility of getting it bankrupted. Since I am the one who chooses to be a trader, how could someone else be blamed about what happens to my account

Not saying it is rigged but if the game is rigged, and still we decide to play it, then we play as we can, no point getting emotional about it, just wastes the mental bandwidth

Cheers :thumb:

 

[4xpipcounter]

If the trader really believes the game is rigged, then decided to trade, anyway, then he also made the decision to play with a bunch of cheaters. Therefore, it is still the sole responsibility of the trader, even if every market he ever entered was rigged.

Let me make another point, and it directly coincides with another copout. People talk about the big money and how it moves the markets. (Folks, this is comical when you follow the thought process.). Now, let's look at the ones that are responsible for "rigging" the market.
They have all this great power to move the market in the direction they choose. If I am the market manipulator, when the big shots come along and drop a $billion in the market with a short on Nifty, that's when Nifty is going to 7000....OVERNIGHT. If I have the power to move the markets, I don't care about the small fries like us. The piddly $1,000, 10,000, 100,000, or even 1 million that we throw at the market is nothing.

Sorry, now the adrenaline is running. As a repudiation to the "BIG" money copout, I've told people that really believe that to trade where the big money is. For instance, if it is forex, check the COT data, then drop a some money in accordance with what you see. If its stocks, wait for Bill Gates, Warren Buffet, or George Soros to make an announcement where they are buying stocks, then join them.
Bottom line to the above point, and Linkon alluded rather nicely to it: "As traders it is our job to align ourselves to the moves which the markets are making." That is outstanding wisdom. I'll take it a point farther:
If you think you are playing in a cheater's market, then think and act like a cheater.
No one really wants to believe they are a cheater, but if you really believe this is a cheater's market, then play, think, and act like one. That is the only way to get buy. I think I'm in a traders' market, where everything flows rhythmically, so I play, act, and think accordingly.

Hey Paul

If i bankrupted my account then the only reason it happened is because there is an account to bankrupt. No account no possibility of getting it bankrupted. Since I am the one who chooses to be a trader, how could someone else be blamed about what happens to my account

Not saying it is rigged but if the game is rigged, and still we decide to play it, then we play as we can, no point getting emotional about it, just wastes the mental bandwidth

Cheers :thumb:

 

[4xpipcounter]

Debarghya, I wasn't trying to be analytical. I / we have to be when it comes to opinions. I don't like crossover systems for the reasons we discussed before, but I need to be analytical concerning that. Just because little 'ol me doesn't trade that way, it sure does not make it wrong. Methodologies, our approaches to the markets, and the time we hold trades are all personal and catered to how we think and do things. And believe me, that is where I love the respectful vein of this forum. There are other times when traders are directly handicapping themselves with copouts and playing the blame game. We don't want that! It will severely take its toll on us.

Let me tell you something else as my internet buddy. It does not matter who you are or what your experience is, if I am doing something wrong with my trading, or someone has a new slant to show me, I would want them to tell me and hold nothing back, because it will benefit me in the long run. My entire methodology was orchestrated by a compendium of thoughts and ideas from my network of friends in the traders' world.

This is why I always ask you to make some comments here.
You always comment bold and honest. It doesn't matter I am agree or disagree with you, but I like your analytically comments.

 

[Debarghya Mukherjee]

Major Economic Indicators

• Employment Reports
• Reports on Inflation and Money Supply
• Interest Rate Statements
• Retail Sales Reports
• Gross Domestic Product

Does all these has no impact on Trading. I mean short term trading? Even news has great impact on day trading, earning reports bad or good makes a stock looser or winner of the day. May be that stock was in bad TA set up.
Isn't it?

I think my points are clear. And the most most important thing, I am not arguing with anybody. If I am making mistakes in market interpretation then all are most welcome to comment and rectify me. At the end we all are same breed, TRADERS and human also.

 

[Smart_trade]

Major Economic Indicators

• Employment Reports
• Reports on Inflation and Money Supply
• Interest Rate Statements
• Retail Sales Reports
• Gross Domestic Product

Does all these has no impact on Trading. I mean short term trading? Even news has great impact on day trading, earning reports bad or good makes a stock looser or winner of the day. May be that stock was in bad TA set up.
Isn't it?

I think my points are clear. And the most most important thing, I am not arguing with anybody. If I am making mistakes in market interpretation then all are most welcome to comment and rectify me. At the end we all are same breed, TRADERS and human also.

All the things mentioned above make a difference , even in short term. The current rally we are witnessing is because of combination of the fundamental and technical factors and money flow in the international markets. We have to see what the market is doing NOW and align ourselves to its direction. We are traders and we want to make money at the end of the day. As short term traders we are not interested in "WHYs" of a price move.. we identify the trend, ride it...when there are signs that the trend is weakening we get out of our position and say " Thank You " to the market.The fundamentals will be endlessly debated by financial channels,mutual fund managers,analysts.........let them do their jobs...we do ours.

I saw a post by you ( or someone else ) yesterday which said market should have tanked 500 points on bad GDP numbers. True.....but always remember that if you can read the market's reaction to good news and bad news, it will put you light years ahead of rest of the traders.....market took a very weak reaction to a strongly bearish news of GDP numbers.....and that should tell you something that the markets are poised to trade higher.....and that what it did today after yesterday's high is taken out.....

Best wishes to you in your trades,

Smart_trade

 

[NTrader42]

always remember that if you can read the market's reaction to good news and bad news, it will put you light years ahead of rest of the traders....

Same goes for the technical, all the levels we derive /get or patterns we identify are just the background, how does the price actually react to all that is what gives us the cue to how to trade it further. . .

Thanks

 

[4xpipcounter]

Debarghya, bottom line is that you are winning in your trading consistently. There has been a lot of candor being shared about markets being fixed. It all still comes down to the question, "Is the equity in my account higher than what it was last month at this time?"
Also, if those economic indicators help you in making a profitable trade, who is going to find fault. My view is simple (At least I think it is--lol.). If it helps me in my trading to make a profitable trade, then I'll use it. If it doesn't, then throw it out.
I honestly do not know how to interpret that data in advance in order for it to help me in my trading, which is the only reason why I don't use it.
I loved your final point: "At the end we all are same breed, TRADERS and human also."

Major Economic Indicators

• Employment Reports
• Reports on Inflation and Money Supply
• Interest Rate Statements
• Retail Sales Reports
• Gross Domestic Product

Does all these has no impact on Trading. I mean short term trading? Even news has great impact on day trading, earning reports bad or good makes a stock looser or winner of the day. May be that stock was in bad TA set up.
Isn't it?

I think my points are clear. And the most most important thing, I am not arguing with anybody. If I am making mistakes in market interpretation then all are most welcome to comment and rectify me. At the end we all are same breed, TRADERS and human also.

 

[Debarghya Mukherjee]

I saw a post by you ( or someone else ) yesterday which said market should have tanked 500 points on bad GDP numbers. True.....but always remember that if you can read the market's reaction to good news and bad news, it will put you light years ahead of rest of the traders.....market took a very weak reaction to a strongly bearish news of GDP numbers.....and that should tell you something that the markets are poised to trade higher.....and that what it did today after yesterday's high is taken out.....
Smart_trade

Ya. Some times market predict in advance the earning reports and low/high GDP numbers. Then the price has been already adjusted in the current move. But some times it gives big movements.

Lets say Satyam fall. Nothing was expected. May be insiders had news but not to most of us. Market fall. What was bad in TA? What was bad in FA? Anything was bad in over all market? I don't remember at least. But the entire market fall.
I remeber some trading days where we have seen that only 4-5 INDEX stocks like L&T, RIL etc pulls the index then the entire market moves. So My point is that

We trade in a platform(called Market) where price moves for different parameters.


Best of luck to you in your trading.
Debarghya Mukherjee