India’s finance minister P. Chidambaram met with top bankers Saturday to discuss ways to boost the weak rupee and bring in more foreign capital to bridge a trade gap that has put pressure on the currency.
Chidambaram was accompanied by top officials at the meeting in India’s financial hub of Mumbai with representatives of leading private and public sector banks.
As the US economy picks up, the Federal Reserve is expected to start winding down its bond-buying stimulus scheme which has helped fuel an investment splurge in Asia’s emerging markets.
“The meeting was mainly to seek ideas and suggestions on what can be done about capital inflows. It was a very good and positive meeting,” ICICI Bank’s chief executive Chanda Kochhar told reporters. Read More
“Sun Tzu said if you sit by the river long enough, you’ll see the bodies of your enemies float by. The key is “long enough.” If you live long enough, you have to be the survivor. When I was a kid, we didn’t have the video games you have today, so we used to listen to comedy records. One of the greatest ones was Mel Brooks doing the 2000 year old man. Carl Reiner says to him, “how did you get to be the world’s oldest man?” And he says, “Simple. Don’t die.” How do you get to be the world’s oldest investor? The answer is don’t crap out.
“So if you look at distressed debt where we started in 1988, I could tell you who our number one competitor was in every year through 1995 and not one is a main competitor today. And it’s not because of what we did; all we did is perform consistently. They crapped out. It sounds simplistic to say, but the first requirement for success is survival…”
– Howard Marks
What steps do you take to ensure survival as a trader?Do you think about markets from the perspective of wanting to be around for a very long time? How do you proactively make that happen?Blowing up, bleeding to death, and grinding out are different ways to “die.” Imagine three failed traders, one for each of the ways. What might the postmortems look like?
Last Close : 5994
Yesterday as Expected (It was Reversal Day ).Our Stop was 6160 for Shorts…Recommended & Written on Friday/Saturday …!!
The best trading method remains going with the flow of the markets, not the other way round. As Dr. Van K. Tharp puts it, the trader’s struggle with the market is the problem. Market wizards trade only clear market propensities (not going against the propensities), and they stay out of equilibrium/trendless markets. If the markets are going south, they go south. If the markets are going north, they change to a northward bias. Really, you won’t be able to handle your open positions skillfully, if you’re experiencing problem handling your reactions to the markets. If you find it difficult to trade the markets with a measure of success, I would like to give you a simple advice. Switch to bigger timeframes. Short a predominantly falling market and purchase some contracts in a predominantly rising market.
For you as an individual trader, it is imperative for you to ensure that you’re not betting too big on an individual trade. Those who bet too big may win jackpots, but they tend to loose too big when things turn against them. There is a clear disparity between trading and gambling. Personally, I wouldn’t risk more than 1% of my portfolio per trade. Victorious traders do that for their permanent victory, and you should be able to do that too.
-From Last Two Days we were writing :Not Crossing 5990 & trades below 5970 will take to 5911—–5891 level.
Below 5891 level ,Our Target was :5832————5812 level.
(Just see ,Yesterday Crashed Intraday upto 5858 level and closed @ 5867.75 )
But-Writing & Trading will only give money if u implement it……..otherwise no Fayda @ all.
Those Who Shorted on Friday Afternoon till Monday Morning………………We had Received more then 500 mails or more about Power of chart !!
Yes ,Below 5890 level……..Our Target of 5832 ,5812 is intact.
-If Breaks and Closes below 5812 with volumes then our Next Target :5753—5733 !!
Today’s Hurdle @ 5891—5899 level.If crosses with volumes then ?Will Update more to our Subscribers.
Nifty Future to Kiss 6000 First or Will it Tumble to kiss 5700 & then 5400 level in coming Weeks ??
In Next 2 sessions….Trend will Get Clear.
-More Details to our Subscribers ,Updated at 7:15/14th March/Baroda/India
The Nikkei index surged to a 22-month intraday high in early Tokyo trading Friday, bolstered by the U.S. Congress’ passage of a bill to avoid the fiscal cliff and the yen’s continued weakness against the U.S. dollar.
At 9:15 a.m., the 225-issue Nikkei Stock Average was up 290.64 points, or 2.80 percent, from Dec. 28 at 10,685.82, a level unseen since March 4, 2011. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 25.02 points, or 2.91 percent, at 884.82 in the first session of 2013.
All 33 sectors were in positive territory, led by carmakers, tire makers and insurers.
Japan’s financial markets were closed until Thursday for the New Year holidays.
“We have tested every system under the sun and, amazingly, we have found one that actually works very well. It is a very good system…(under the realm of) trend following. The basic premise of the system is that markets move sharply when they move. If there is a sudden range expansion in a market that has been trading narrowly, human nature is to try and fade that price move. When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion.”
“The most important rule of trading is to play great defense, not great offense.”
“I don’t really care about the mistakes I made three seconds ago in the market. What I care about is what I am going to do from the next moment on. I try to avoid any emotional attachment to a market.”
” I always believe that prices move first and fundamentals come second.”
Yesterday Boldly written above 5750 ,Our Target intact of 5796-5811 level.(Just see it kissed 5818.80 and closed at 5793 level !
-Intraday Call given to sell to Sell below 5806 with Target of 5768-5755 level and (Overnight remain short )
Last Close :5793.25
101% No Need to Change levels.Yesterday Intraday Recommended to Sell with Tgt of 5768–5755 level.
Yes ,Below 5755 if trades for 10-15 minutes or more will take to 5717————5704 level in PANIC !!
7DEMA @ 5737
Hurdle at 5811,CROSSOVER with volumes and sustains above this level will take to 5856-5871 level !!
-More Details ,Intraday levels to our Subscribers during trading hrs.
The quotes below are provided by John F. Carter, master day trader; pulled directly from his new book Mastering the Trade.
This may be the best quote of all: “The financial markets are naturally set up to take advantage of and prey upon human nature. As a result, markets initiate major intraday and swing moves with as few traders participating as possible. A trader who does not understand how this works is destined to lose money”
“The financial markets are truly the most democratic places on earth. It doesn’t matter if a trader is male or female, white or black, American or Iraqi, Republican or Democrat. It’s all based on skill.”
“A trader, once in a position, can deceive himself or herself into believing anything that helps reinforce the notion that he or she is right”
“…professional traders understand this all too well, and they set up their trade parameters to take advantage of these situations, specifically preying on the traders who haven’t figured out why they lose”
“…markets don’t move because they want to. They move because they have to.”
“After all, the money doesn’t just disappear. It simply flows into another account – an account that utilizes setups that specifically take advantage of human nature.” Read More
Always respect the marketplace. Never take anything for granted. Do your homework. Recap the day. Figure out what you did right and what you did wrong. That is one part of the homework; the other part is projective. What do I want to happen tomorrow? What happens if the opposite occurs? What happens if nothing happens? Think through all the “what-ifs.” Anticipate and plan, rather than react.
Clear thinking, ability to stay focused, and extreme discipline. Discipline is number one: Take a theory and stick with it. But you also have to be open-minded enough to switch tracks if you feel that your theory has been proven wrong. You have to be able to say, “My method worked for this type of market, but we are not in that type of market anymore”
This week for First three Days we were writing to watch 5239 as Hurdle…..Never Crosssed !
Yesterday ,We had written to watch 5219 as Hurdle………..Not crossed and Intraday fallen upto 5175 level !!
Last close :5214.70
Yes ,Above 5219………….if trades for 10-15 minutes will take to 5259-5272 level.
(Minor Hurdle at 5233 )
Support at 5182-5171 level.Decisive Break with volumes below 5171 will take to 5133-5116 level !!
Big Move of 125————-170 points on card !
Will Update more about this to our Subscribers.
” 5087——5019 are Crucial Support and Last Hope “
Three Consecutive close below 5019+Weekly close if happens then we see Bloodbath upto 4813-4745 level in Month of May itself.
(Remember Indian Market not moving on Fundamentals or Economy /IIP Data /Inflation/Interest Rates/Monsoon/Policies /Rating Agencies Downgrade or Upgrade ….It moves by Fii’s Money flow and their Interest in Country to make fast Money )
The way Market is moving after Budget and the Way GAAR issue nobody is talking about and no clarification coming from GOI on this issue……Either something big is happening on positive side and Negative points is known by Fii’s.
Market Moves by Fii’s then by Corporates itself +Insider Trading +Blue Channels !
Before Results are out…….Some group ,Company people ,Insiders either had sold or Bought ….these now been done by All Corporates (Either company is from Ahmedabad or Banglore or Mumbai or Delhi………Everybody is doing….Muft ka paisa hai…….)
How does someone know that they reached the trader’s mindset? Here are a few characteristics:
1. No anger whatsoever. 2. Confidence and being in control of the self 3. A sense of not forcing the markets 4. An absence of feeling victimized by the markets 5. Trading with money you can afford to risk 6. Trading using a chosen approach or system 7. Not influenced by others 8. Trading is enjoyable 9. Accepting both winning and losing trades equally 10. An open mind approach at all times 11. Equity curve grows as skills improve 12. Constantly learning on a daily basis 13. Consistently aligning trades with the market’s direction 14. Ability to focus on the present reality 15. Taking full responsibility for your actions
-Above 5357 level our Target was of 5410-5427 level.
-Yesterday kissed 5402 & closed @ 5383 level.
-Intraday ,We told & Updated to our Subscribers …Not crossing 5402 & trades below 5385…..In Panic we can see slide upto 5335,5318 level.
-Hurdle remain same :5410-5427 levels.
-Below 5385 ……….We see PANIC upto 5335-5318 levels.
7DEMA at 5308 level.
Now ,While Updating SGX Nifty Trading at 5362 (Down 18 points )
In Panic around 5335-5318 will square short and will Update More to our Subscribers during Trading hrs.