The Hunch is not a logical trading decision, but purely a gut feeling. As I read this chapter it seemed to me that Larry’s discussion with his friend would be the internal thoughts and battles one would be having as they tried to understand why they were compelled to follow the Hunch; should they stick with it etc… The counter-intuitive judgement? Or it may idea be the Creative Mind at work, subconsciously assembling all the gathered information until – the Hunch forms. Once the Hunch proved itself correct, Larry did the only thing he could do – add to the position. His strategy here is in complete accordance with Phantom of The Pits – Rule #2.
The second theme centered on the perils of acting on someone else’s market tip – even if the are in a position to get inside information. This is a reoccurring example of having to have faith in your own judgment and trading.The correctness of the tip is less important than the process of gathering the information needed to form a certain opinion as to the market direction.
The different processes used to make money leave different echo’s on your psychological perspective – which can alter your judgment. This painful experience, Larry says, completed his education as a trader. I found this to be a very heavy statement.It was not just learning to follow his own assessment, rather than following the tips of others, but that he gained the confidence in himself necessary to entirely shake off his old way of trading.- Reminiscence of a Stock Operator
Last Close :7785.70
Above is Daily Chart of Nifty Future
On Friday ,We had Boldly written to Watch 7841 level.Above this level only will show power.
Made High of 7832.80 & crashed. (On Thursday it kissed 7841 & Crashed )
Our Down Targets were :7741-7735 (It kissed low of 7751 & taken U-turn )
7746 is 7DEMA -Crucial Support level.
No need to change levels @ all
101% 7717 is Last & Crucial Support.If Breaks with volumes and stays below for 20 minutes or more then ??
Or If closes below this level then ?
Yes ,Will Update more to our Subscribers
Hurdle if not breaks low of (Friday )…………..Then will face Hurdle at 7795-7800
Crossover will take to 7822 level
LAXMAN REKHA @ 7841.Crossover with volumes will create unexpected buying.
Rising Trendline ,Now Hurdle at 7878
More Details ,Intraday levels to our Subscribers
Updated at 7:20/28th July/Baroda