The trend, when it is down, wait patiently for dust to settle down and "disbelief" written on both "bulls & Bears".
Don't be a part of the joke: Value investing is "Buy low and sell lower".
Keep in mind that the role of a bull market is to keep you out all the way up until the top, whereas the role of a bear market is to keep you in all the way down until the bottom.
At such times, when you have any doubt, just take a few steps back and look at the bigger picture, say the week...you will be comfortable with the falls..
"Do you still listen to those fund managers who say "India is a long term story" and say after a week's fall in the index that" Prices are pricey..!!!"
With yesterday's fall, it looks like we might trade roughly in the "4400-4600" band for a week or so.
The fast indicator in the hour chart does not have +ve div after yesterday's move."Poye Pocchu..!!"..Its gone..
Renu's Chart:
6 comments:
Sir,
My query is " If a person is not looking into any technicals he already has 50% chance that his trade will succeed like a dice of a coin - 50% can be either heads or tail call."
So after going through any technicals unserstand, bisect, get signals then i should have atleast 51% chance that my trade will succeed-- Is this statement true?
Because I am seeing the market opens according to US closing then does few whipsaws then enters the trend makes me feel that the market's next n+1 movement to be random.
we can analyze/talk about yesterday's market movement but the clear indication of making a profit[increasing the chance to 50% +1%] through technicals still puzzles/eludes me.
Hi..Manoj,
That is absolutely wrong:
1.We called the top exactly on the 20th Oct.09 and strongly advised to exit from all "stock holdings" barring FMCG, Pharma & IT.
2. We strongly advised to exit all IT stocks on 30th Nov.09
3. We played down the market well till Thursday, the 29th Oct and misread the bounce to be short term reversals but got stopped out with small losses.
3. Since 12th oct.09, We gained on an investment of Rs.25000 in one Nifty lot 465 points x 50=23,250.And in the aggressive trade 622 points x 50=31,100)
4. If Conservative was followed to the system signals, it would have been still better.
5. As the views expressed here are followed by many, I take a cautious stand at certain instances.
I have highlighted this point many times that only our Technicals work ultimately and the world mkt cues are to be used for "entry points" only. Our market is the highly leveraged one in the world.
Do you still need anymore proof.
The intention, here, is to prove that "discipline & patience" will get you high rewards after a study of Technicals.
And Technicals do work and that too consistently. All the "Random theorists" should take a walk into the woods and leave us to make our trades..
Doubters never win anywhere.
I believe in my work and I feel, you should do too in yours.
Best regards.
ilango
Sir,
I saw conviction in your words.
Thank you for your detailed reply.
With regards,
Manoj.
Hi..Manoj,
I have been fighting with myself for all these years. Trying to believe in myself steadfastly..Inspite of my best efforts, I still get shaken off at times.
I see so many succeeding quite well as long as that Self-Belief is strong.
I am sure you will do great.
Best regards.
ilango
any problem with ur blog sir?
seems relaince chart prediction is wrong
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