Some Good Steals...

[karthikmarar]

Saint

Wonderul writeup.. as usual.. It is very nice to see you quoting poems..

 

[karthikmarar]

Saint

Nice writeup.. as usual.. Also...It is very nice to see you quoting poems..

regards

karthik

 

[Saint]

Saint

Wonderul writeup.. as usual.. It is very nice to see you quoting poems..

Saint

Nice writeup.. as usual.. Also...It is very nice to see you quoting poems..

regards

karthik

Hi Karthik,

Thank you doubly for your kind words.............and the poems bit,well this one sits next to the computer.Sort of boosts my morale when Life sometimes gets you down in the dumps........

Saint

 

[Karuna]

Hi friend,
Yes I could have taken these sugestions before starting my trading in derivatives. Basically I was comfertable with my nifty futures trading but then I shifted to stock futures which initially gave me very good profits but from past 3 or 4 trades it is taking a lot of my money and happiness. But given the percentage of winning, it is around 92% but still I am below my breakeven, that hurts me a lot. Now though I donot have complete courage to say what I would have loved to say something like this"watch me dear friend, you will soon hear from me what you love to hear"
bye for now and thank you a lot,
usha

Hi Usha,

Me too sailing in the same boat, lost everything earned in the first 7 months of my trading career

Reading the posts of all the wonderful folks out here, I too feel fired up that I have to conquer the markets and kuchh toh kar dikhana hai !!!

Earlier on you had responded to my request re: learning about options trading? I think both of us are seriously ready to do it now. Can we do it together ?

Let us start a separate thread where we post all that we learn/understand so that we can get the precious advice from the seniors here and are also able to help others who may be interested in the same.

Regards,
Karuna

 

[usha]

Hi Usha,

Me too sailing in the same boat, lost everything earned in the first 7 months of my trading career

Reading the posts of all the wonderful folks out here, I too feel fired up that I have to conquer the markets and kuchh toh kar dikhana hai !!!

Earlier on you had responded to my request re: learning about options trading? I think both of us are seriously ready to do it now. Can we do it together ?

Let us start a separate thread where we post all that we learn/understand so that we can get the precious advice from the seniors here and are also able to help others who may be interested in the same.

Regards,
Karuna

Hi karuna,
Yes I am ready. Let us decide how to proceed in our new adventure into knowledge accumulation, then wealth has to follow.

Usha

 

[karthikmarar]

Karuna, Usha

I am Happy to see your resolve to put your losses behind and move forward..
Kuch Kyon? Bohat karke dikhayieh...wishing you all the success...

warm regards

karthik

 

[kkrish68]

Hey Amit

Hope you are sailing along in good waters.

Attached is a chart on Gujarat Ambuja. please have a look at it and let me know you see an ascending triangle. It has only one high in the area of the triangle as opposed to the two highs.

Many thanks,
Best regards
Kishore

 

[karthikmarar]

Kishore

There is no acending triangle.. You have drawn the bottom trend line correctly. But the top trend line you have not connected the peaks.... Just connect the peaks and see...
In an ascending traingle when you connect the peaks it should be a horizontal line...Sorry..Amit this one looked too easy to resist...

regards

karthik

 

[AMITBE]

Hi Usha...
You have received an overwhelming and an astounding round of support, empathy and guidance from a lot of wonderful souls at this amazing forum.
I myself can never stop feeling grateful for that one moment when quite by chance, I happened upon this enchanted space.
Or was it chance? Does anything ever happen for no reason, and do our paths only criss-cross for merely the nebulous idiosyncrasy of coincidence?
I believe not. It stands to reason that things only happen for a reason, and from the vantage point of hindsight, we would always know that that reason was the vital pivot-necessity for our journey forward.
Your own recent experiences are compelling you to reach out to a greater learning of the art of trading now. Couched amid your losses lay this opportunity.
Make the best of it, Usha, and make the best of all these wonderful people here, albeit graciously.
And graciously reach the greatest hights in every endeavour in life.
I do wish you all the very best.

 

[avinash]

Hi Usha,

I can understand your pain.............think many if not all of us have gone through that pain some time or other.But every fall is an opportunity in disguise.For you has come a great opportunity to learn,and understand that you are not doing that something that these profit making guys are doing...........as you pointed out somewhere you have a 92% batting avg,and you could not breakeven,which means that you are cutting your profits and letting your losses ride.Which means that your mental state is that you should win every trade..........so you tend to take your profits quickly and wait for your losses to come back to breakeven at least.

Change the mind state...........that above is verily the problem.We want every trade of ours to work............and in trading,unlike other avenues in life,that thinking is our doom.For a doctor,we want to save every dying patients.............Cutting our losses and letting our profits ride,in the medical world,is akin to:"Oh,these 10 patients are not looking that great,I am sure they are gonna conk anyway,let's pull the plug on them and save hospital resources,and our time and energy........but these 2 patients look like they are gonna make it,so why not focus on these two?" Doesn't work that way in medical life............we try to save every patient till the last breath,we give it all we've got.But that attitude spells doom in trading.

In trading,we have good entry set ups,and before the trade is set,we already have an exit strategy if we are wrong.A stop is placed either with the broker or mentally.If the trade goes against us,we are out..........the important thing is not to have a great Batting Average..........My batting average thelast year is only 58%,so what,my portfolio is up 82% from last year.How could that be?How can nearly half your trades be wrong,and you're up by so much?As many pointed out,and most recently Jaideep............the secret of trading is to Cut Your Losses and to let your Profits Ride.

So,the trades go like this.....if x is the amt lost stopped out,in 10 trades:
-x,-x,-x,+4x,+3x,-x,+3x,-x,+3x,-x.Therefore amt lost=6x. And amt gained=13x.So,you've made a net profit of 13x-6x=7x.........but what is your batting average?only 40%.Who cares........definitely not you,you are busy laughing your way to the bank.

While others concentrated their efforts to be right,you concentrated on making profits...............so the question that we should ask ourselves is:Are we here to be right,or are we here to make money?They are both not necearrily the same.

Usha,I do not know who you are or what type of a person you are.............I do know this,you can do it,and getting your startegies in place,you will succeed............I hope to hear one day that you consistently pull money out of the pockets of the big funds,with a great big smile on your face.Believe me,when that day comes,this problem would seem like no more than a minor hiccup,a necessary hurdle on your road to success.

Don't give up...........the below from last part of the very popular poem 'Don't Quit':

Success is failure turned inside out
The Silver tint of the clouds of doubt
And you can never tell how close you are
It may be near when it seems afar
So stick to the fight when you're hardest hit-
It's when things seem worst that you mustn't quit.

All the best!
Saint

Hi Saint,

It's great to have you back,and I thank Usha for getting out this write up above by Saint.

As you always say,Great stuff.

thx in adv,
regards

Avinash