I dunno where someone will believe it or not. But today, when nifty made a high of 5450 at around 1.54 and maintained its level at around 5445 (time 2.02 pm), I was not confident, but I was sure that I will come down very sharply and at 2.10 pm, when nifty was at around 5449, I was just about to enter short when internet connection gave some problem. At that time, I was already short in HDIL; but because I felt like a blind person without having the internet, I could not enter in the nifty and I squared off my position in HDIL with a minimum gain. This is really a great feeling for me.
Namaste - My Learning of Trading in Nifty
- Thread starter crown
- Start date
its all set to move up till there is contrary signals start appearing. See the hourly chart of Nifty. CCI divergence denoting significant upmove in Nifty. stoploss will be 5407. Trigger nifty above 5440 in hourly chart. Target 5480.
But, please do not trade mere on the basis of my analysis, I am still learning.
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But, please do not trade mere on the basis of my analysis, I am still learning.
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namaste
Today, I learned a very important aspect of trading, which I think is the most rather utmost important aspect; without which no trader can survive.
And that is
:believe in yourself:
and just don't take any advise from anyone regarding ur trade. Though, you can request the learned one's for some clarification. But when it comes to trade, trade what you feel or understand; not what others tell you.
The reason behind:
When you trade on your own perspective, even if you loose money, you earn experience and can try to find out where and what you missed to analyse
But when you trade on someone's else suggestions, even if you gain money, you do not understand how it worked because it was not your opinion.
Therefore, from now on, I will try to restrict myself from seeking opinions in my trades; though I will continue poking my seniors over here for help in other matters and I hope, as has been earlier, everyone will be helping me.
Now coming back to trading.
I am holding puts 5400 of nifty and my system is still telling that Nifty is weak despite its upmoves from last couple of days.
I am also holding put of TCS and again my system is still telling that TCS is weak. Though, after todays surprized upside move in IT sector, I will be more inclined towards squaring off my position in no profit no loss zone.
I am also holding put of Ashok Leyland and expecting it to go below 70. My system is also telling that Auto sector is weak.
Today I shorted SBI and had good gains
I also shorted TCS, but loss, however, the gains from SBI are double from the loss of TCS.
Tomorrow, dated 5 August 2010 I will be shorting (puts) SBI, also shorting ICICI Bank (puts)
And I will be going long in Hind Uniliver and Rcom
lets see how it come out
happy trading to all.
Today, I learned a very important aspect of trading, which I think is the most rather utmost important aspect; without which no trader can survive.
And that is
:believe in yourself:
and just don't take any advise from anyone regarding ur trade. Though, you can request the learned one's for some clarification. But when it comes to trade, trade what you feel or understand; not what others tell you.
The reason behind:
When you trade on your own perspective, even if you loose money, you earn experience and can try to find out where and what you missed to analyse
But when you trade on someone's else suggestions, even if you gain money, you do not understand how it worked because it was not your opinion.
Therefore, from now on, I will try to restrict myself from seeking opinions in my trades; though I will continue poking my seniors over here for help in other matters and I hope, as has been earlier, everyone will be helping me.
Now coming back to trading.
I am holding puts 5400 of nifty and my system is still telling that Nifty is weak despite its upmoves from last couple of days.
I am also holding put of TCS and again my system is still telling that TCS is weak. Though, after todays surprized upside move in IT sector, I will be more inclined towards squaring off my position in no profit no loss zone.
I am also holding put of Ashok Leyland and expecting it to go below 70. My system is also telling that Auto sector is weak.
Today I shorted SBI and had good gains
I also shorted TCS, but loss, however, the gains from SBI are double from the loss of TCS.
Tomorrow, dated 5 August 2010 I will be shorting (puts) SBI, also shorting ICICI Bank (puts)
And I will be going long in Hind Uniliver and Rcom
lets see how it come out
happy trading to all.
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