Time for some Monologue..
Its almost 2 months since I rediscovered my interest in market. Occasionally, I have indulged in intra-day trading as well. What I feel is that nothing beats the power of observation. I mean, many a times, I have done nothing but just stared at ODIN and all those red and blue glitters all day and slowly one gets tuned to its beats. Nothing to get excited about and nothing to feel panicky and it just feels normal. Yeah, it helps when you decided not to touch F&O and the lure of huge quantities and huge money but But yeah, one needs to observe things closely and things dont appear as menacing as you first imagine them to be.
Like today...you dont really expect a CANBK or PNB to close at 10% when Finance ministry is making statements after statements to this whole saga being a bribery case and warning media of giving the issue undue importance. Add to that, expiry volatility and this become a field day for pro traders and speculators. I stopped counting how many chances LIC gave everyone to trade between the range of 1050-1080! Or a Lupin that was a classic case of trading pattern..i.e, steady upmove...a short burst..retracing a bit and then again resuming the upmove..and finally falling with the market...
Savant Sir has imparted pages of words of wisdom but if there is one thing I cannot get out of my mind is the words "Nimbleness"...and not just in market but in almost every sphere of life. Not that I have managed to become a good trader..infact far from that..not even a bit..but the truth is whenever the keeda of observation and nimbleness works in tandem, it spells good results. This lethal combo alone works better than trendlines, support, resistance or whatever.
Not that the term 'Nimbleness' has never been used before but sometimes it takes a hell lot of time for a point to get into your mind. It's almost like what Winston Chruchill said, if you have to prove a point, dont say it all at once. Say it once and drop the topic. Go round and round and come back again and hammer the point again. Allow the persona to soak the matter and in the meantime, come back again and hammer the stuff! Finally, mind registers what it resists.
So Savant Sir, the point is..I wanted to Thank You for all that you are and you do and keep telling us.