date 09/05/07 time 1.58 pm
Hi all,
i am continuing my posts in the form of replies as i dont know how to make anew post under my name seperately frrom my previous post. At the outset let me clear my idea in writing this column. I wish to help people who want to learn to trade, and while doing it i want to be with them through their trades. Over a long life in the markets i have found people who prescribe without being in themselves are missing some essential characteristics, namely discipline, sound huuman logic and above all money manegment principles. Its one thing to tell somebody to do something and completely another thing to do it for him. my idea is to not only tellbut show them the way as to how to do it.
When i started learning the marlets way back in 1989 with a broker of repute, i learnt my first few and dare say the most valuable lessons of my life in these markets they are as follows
1] 97 percent of the people lose money in these markets i.e only three percent of the peope come out succecsful trading. Yet i am a full time trader
2] Every brick of the stock exchange building is made out of sucking the life time earnings of one family.
3] Unless u have a good trtading plan dont even comtemplate trading.
4] to develop a good trtading plan u have to be very good with numbers.
5] discipline in trading is extremely important and can be broken down into small measureable actions. ( i will show u how when i start trading with u all )
6] greed and fear r one and the same ( i know u all will be smiling they all tell u this, but then it is a rule i learnt here )
7] Keep doing it only till such a time that u find it fun. The day u stop finding it fun. For heavens sake do something else and i mean it do anything but dont come near the markets
8] The markets are like a mother ( to the 3 percent who make it ) nd like a draculla ( for the 97 percent who dont ).
and some others which i will post later as of now there is nothign that could be done in the markets today. i for one follow the top 14 nifty weight stocks only so they r: bharti: bhel: hll: icicibank: infy: itc: lt: ongc: rcom: reliancec: sbin: tcs: tatamotors: wipro and nothing else. and yes abviously not required to memtion the nifty too. i follow them both on the cash segment as well as the futures segment too. i was looking to buy into ongc today if it closed above 837.55 in cash. It ruled above it in the opening of the day today above this level but has come down subsequently. so had time to write all this from now on i will be consistent with my posts as i have saved the site in my fav and will be using it as a trading journal for indian currencies i trade on the forex market essentially.




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