WIll down trend start now?

[munchikana]

predicting the market is the most difficult thing and even the most experienced desist from doing so. yes today the markets are down. but looking at the market breath today do you feel the markets will be down tomorrow? i do not have the answer, nor do i expect it from any body. the market itself will say it tomorrow.


jdm.

Dear jdm,
I fully agree with you. But think for a moment. Experts on TV are forecasting the market not for the day, hold your breath, for the next hour. I just wonder on what basis they are making those predictions. Anyway, being on TV, they are absolutely sure that we cannot question their predictions.

just see now, i was totally thinking of sensex touching 11000 and drawing back drastically...it did not even go above 11000 and the fall has come...now at this point, may be it recovers back...may be it goes for a freefall from this levels too......everything depends upon how people react to this.......the burnt fingures may be burnt again......or they may prove smarter this time.....
the sensex will see resistence at each ups now..but when it goes down, there would be no levels.......In such scenario, try to get out of markets

Markets have the nasty habit of rallying prior to important results (many ocassions Infosys results) and as soon as the results are known, they tank. What do you think this time? If sensex moves above 11250, I guess there will be lot of buying. Will it move another 100 or 200 points (say 11400 to 11500 levels) and then tank so that every one is trapped again? Or will it tank from tomorrow onwards? What do you learned members feel? Any way, the journey so far is not at all inspiring confidence.

 

[munchikana]

I'm totally against daytrading....but i have collected some good literature which i would be posting soon here (this is totally dedicated to how to become a succesful trader).....

ok...lots for now....see ya tomorrow...

gud night..
ganeshhity

I am eagerly awaiting it. Unless you post it, I may not have "gud night". On the contrary, I may have sleepless night(s).

 

[jdm]

Dear jdm,
I fully agree with you. But think for a moment. Experts on TV are forecasting the market not for the day, hold your breath, for the next hour. I just wonder on what basis they are making those predictions. Anyway, being on TV, they are absolutely sure that we cannot question their predictions.

sure we cannot question their prediction, but if their prediction goes wrong consistently it sevearly affects their credibility. its their Honor at stake. and their lies their responsibility. there lies their accountability.

too many mistakes they are out of that idiot box and of course you have a this.
http://www.traderji.com/equities/6883-feel-bad-cnbc-anchor.html

cheers,
jdm.

 

[amitt29]

And pray what do u imply by this?

 

[jdm]

hi ganesh,

hi jdm,
dear friend, no doubt the current market is working pure on sentiments....
the days of charts had all of a sudden dissapeared..all levels were breached mercilessly.....

when one looks at the chats, its only the charts, charts and nothing but the charts. and believe me that the best thing of TA. and thats why i have faith in TA more than anything else.

charts tell me three things. when to buy, when to sell, and when to go for a holiday. i get worried only when i could not see any one of these, and then i know its reading time.

anyway, you know the July dangers in bag.....what I mean to say is, this market is out of prediction now.....so wise men should either stay away or adopt a policy of enter,exit,enter,exit........

a trader should have the ability of making money the either ways. he should not worry about the fact whether the market is falling or rising. what really he/she should be looking at: is the market moving as per his/her expectations? if the answer is in negative then only he/she has reasons to worry. remember? uncertainty, thats one thing even the market is afraid off.

I do not say that I can predict it even....but if you look at the charts now...see that sensex movers have recovered much faster then expected.....so retracement back from this level is due (pooops do not hang me for this statement)......I just go for what is clear to my eyes...if you go for minute details, sorry friend, this is not the time for that.......we are not yet into safe zone.....we need to comfortably settle above the levels of 11000 and some moves up, we are in a confirmed uptrend........so during this time, all you can do is have stop losses and once it is triggered, have a hard heart to cut your trades..this will always keep you out of danger...

hey, hey, hey, ganesh my dear good friend, don't get me wrong. i am not against prediction. but i am against prediction without reasoning. here in traderji we have so many wonderful people who do it, and do it so wonderfully and most important, consistently. but then thats not whats interests me. what really interests me is the rational behind their thought process. prediction without reasoning has a swift natural death.

personally i try to refrain from the guessing game. ok, maybe about the index once a while (with adequate TA) but individual stock, not my cup of tea.

just see now, i was totally thinking of sensex touching 11000 and drawing back drastically...it did not even go above 11000 and the fall has come...now at this point, may be it recovers back...may be it goes for a freefall from this levels too......everything depends upon how people react to this.......the burnt fingures may be burnt again......or they may prove smarter this time.....
the sensex will see resistence at each ups now..but when it goes down, there would be no levels.......In such scenario, try to get out of markets asap...see i got mtnl 2 days back and sold today at profits..i sold it at 156...i may be wrong..it may cross 160, but i did not take risk..today it went down to 152 levels again..so even if i pick it here and wait, i may gain again...i play with s/l, but i'm out of markets today.....

this is the last time i predicted the sensex and thats on the 24th of june
( http://www.traderji.com/48614-post20.html )
no surprises till now, and thats comforting.

I'm totally against daytrading....

i refrain from doing anything without reasons. but then sometimes i do get the reasons for daytrading.

but i have collected some good literature which i would be posting soon here (this is totally dedicated to how to become a succesful trader).....

waiting eagerly.

ok...lots for now....see ya tomorrow...

gud night..

ganeshhity

have a nice time.

cheers,
jdm.

 

[amitt29]

He who predicts is lost.
There can be only 2 possibilities in the market it can go up or down.Sooner or later someone will have the sense(hunch gut feeling)to trade.
What matters most is consistency.

 

[jdm]

He who predicts is lost.
There can be only 2 possibilities in the market it can go up or down.Sooner or later someone will have the sense(hunch gut feeling)to trade.
What matters most is consistency.

hi amit,
theres lot of scripts which trades in a narrow trading range for years. these can be categorized into the possibility of no change. neither go up or go down.

whats great about th market is everybody has a say. even those who haven't invested a naya paisa. and as you rightly say "what matters most is consistency". and there can be consistency only when ones decision is backed by reasoning.

cheers,
jdm.

 

[amitt29]

hi amit,
theres lot of scripts which trades in a narrow trading range for years. these can be categorized into the possibility of no change. neither go up or go down.
whats great about th market is everybody has a say. even those who haven't invested a naya paisa. and as you rightly say "what matters most is consistency". and there can be consistency only when ones decision is backed by reasoning.
cheers,
jdm.

Then y trade them.Trade stocks which are not in trading range for more profits.Trade in the Index.
Opinion is u know like what,everyone has one.
Ppl who seek others help are insecure.
Regards.

 

[shrinivas]

hi ganesh,



when one looks at the chats, its only the charts, charts and nothing but the charts. and believe me that the best thing of TA. and thats why i have faith in TA more than anything else.

charts tell me three things. when to buy, when to sell, and when to go for a holiday. i get worried only when i could not see any one of these, and then i know its reading time.



a trader should have the ability of making money the either ways. he should not worry about the fact whether the market is falling or rising. what really he/she should be looking at: is the market moving as per his/her expectations? if the answer is in negative then only he/she has reasons to worry. remember? uncertainty, thats one thing even the market is afraid off.



hey, hey, hey, ganesh my dear good friend, don't get me wrong. i am not against prediction. but i am against prediction without reasoning. here in traderji we have so many wonderful people who do it, and do it so wonderfully and most important, consistently. but then thats not whats interests me. what really interests me is the rational behind their thought process. prediction without reasoning has a swift natural death.

personally i try to refrain from the guessing game. ok, maybe about the index once a while (with adequate TA) but individual stock, not my cup of tea.



this is the last time i predicted the sensex and thats on the 24th of june
( http://www.traderji.com/48614-post20.html )
no surprises till now, and thats comforting.



i refrain from doing anything without reasons. but then sometimes i do get the reasons for daytrading.



waiting eagerly.



have a nice time.

cheers,
jdm.

Ahhh..a complete post-mortem of my post....
my friend, I wanted to indicate something else..anyway, I never follow people at cnbc etc....the reason is, they give you calls when they have to dump their stocks...look at their technical analysis, you'll be amazed and laugh till death......yes, i'm surprised, they predict market for next day..next hour....


jdm, there are lots of ways....i have hold of certain stocks(i mean hold of knowledge)....when I study them, markets movements are also taken into consideration...there are times when I get wrong...recently, I saw vsnl moving up when the markets were showing negative...so that was not my day...but common sense and tech analysis get you fooled out only once in hundreds, and hence i trust it......no friend, I do not even take for sure what people write here about market future (except amitbe,saint pk etc)....there are some born genious here...I use their knowledge as base for my hypothesis and theories...

and believe me, i'm sharpening my axe day by day silently...

but still, I like to help others in term of monetary gain that i'm sure can be achieved..I know the pain of loosing money....

whatever I post here is my personal opinion...people are free to take or leave it...
ganeshhity

 

[jdm]

Then y trade them.Trade stocks which are not in trading range for more profits.Trade in the Index.
Opinion is u know like what,everyone has one.
Ppl who seek others help are insecure.
Regards.

no, my dear, you avoid them. listen to everyone, its does give you perspective. but have your own system