Teach A Man To Fish And.........

[pranayd]

Hi Saint,

Just 2 good (for both the charts)!!

One question, since we know that the stock is in an uptrend and we are in trade, can we add to this position? I had read somewhere that you should keep adding to your winning position. If yes, when do we add and in what proportion? My thought is that every higher pivot low is an opportunity to add, am I right?

Thanks,

Pranay

 

[Saint]

Hi Saint,

Just 2 good (for both the charts)!!

One question, since we know that the stock is in an uptrend and we are in trade, can we add to this position? I had read somewhere that you should keep adding to your winning position. If yes, when do we add and in what proportion? My thought is that every higher pivot low is an opportunity to add, am I right?

Thanks,

Pranay

Hi Pranay,

Right on,my friend...........but how much each time,ahh,we are stepping slowly and steadily into money management proper.

We will be covering that next,Pranay.......

Great question,

All the best!
Saint

 

[Saint]

A great post by Ashish from another thread that anyone who didn't get a read need to have a look.........great wisdom in every word.

Great stuff,Ashish!

Saint

It's said that successful trades done without a proper trading plan are more dangerous than the failed one.

In the example given, no Stop Loss Level was inbuilt into the trade and holding was based upon conviction only. At that time, nobody would have any idea if the drawdown would continue or would reverse. Luckily, the stock turned around and proved to be a multi-bagger. Now it installs a believe in the trader that such trades can be repeated again and that is where disaster starts to wait.

Loosing 50% on a trade and still holding on represents an emotion called Hope and is very dangerous as traders have seen their entire capital being wiped out in thousands of stocks only due to this single emotion.

A proper stop loss in case of any entry is better than letting oneself be prey of our own emotions.

Best Regards,
--Ashish

 

[shrinivas]

A great post by Ashish from another thread that anyone who didn't get a read need to have a look.........great wisdom in every word.

Great stuff,Ashish!

Saint

Ahhh..great stuff Ashish....and thanxx saint for putting it here....

ganeshhity

 

[aca_trader]

I am on cloud 9!! (Another bad emotion you feel after a winning trade and it makes u forget the basics and brings losses in the subsequent trade. )

Thanks a ton Saint & Ganesh! But ofcourse these are words of guides like you only. The monkey is only aping them.

Best Regards,
--Ashish

 

[bvpraveen]

Hi all,

I'm trying to take printout of this whole post; it comes without the chart attachements. How to take printout with the charts included?

Praveen.

 

[pranayd]

We will be covering that next,Pranay.......

Great question,

All the best!
Saint

Thanks Saint,

Your encouragement means a lot to me, instilling confidence in me that I am on the right track.

Keenly awaiting your next post, as always.

Cheers!

Pranay

 

[pranayd]

Hi all,

I'm trying to take printout of this whole post; it comes without the chart attachements. How to take printout with the charts included?

Praveen.

Never thought of this...I've been cut-pasting all this stuff in MS Word for my ready reckoning.

Will someone or traderji help on this one? One step forward, is it possible to save a soft copy of the entire thread (with the charts) in MS Word?

Meanwhile, Praveen, you can tell us how to take a copy of the entire post. That will still make my job easier.

Thanks,

Pranay

 

[Saint]

Not been well last few days................let's get back to business later today.

Saint

 

[Saint]

I am on cloud 9!! (Another bad emotion you feel after a winning trade and it makes u forget the basics and brings losses in the subsequent trade. )

Thanks a ton Saint & Ganesh! But ofcourse these are words of guides like you only. The monkey is only aping them.

Best Regards,
--Ashish

........ahh,my friend,those were words of a person convinced.No aping that,although I do admire the humility,which is very required for success in this field.

And,as always,looking fwd to more!

Saint