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
As Expected :Yesterday…………..Dabur zoomed in Morning.What Happened to SUN TV ,CIPLA ,LARSEN ,Mcdowell (This was Jackpot of life )
Intraday -Maruti zoomed like Rocket after our Buy Call.
Trading is not about winning percentage, being right all the time, or predicting the future. What it is about is having bigger winners than losers. If you are profitable after each long string of trades then you are a winning trader in that time frame. You can make money through winning percentage as long as you keep losers small and you can make money through huge wins even with lots of losses. The key is not how many times you are right but the size of your winners versus your losers. That is the magic elixir of profitability.
Yes ,Tons of Money Minted in Jubilant Foods (Call given @ 977 & yesterday it was 1085 )
What happened to RELIANCE ?Not Broken 781-765 & zoomed to kiss 890 in 5 sessions only.
(Many Strategies are there ,We Trade ,Recommend..Not everything to be written and said on Blog )
Just for Our Critics :“Critics are like eunuchs in a harem; they know how it’s done, they’ve seen it done every day, but they’re unable to do it themselves.”
Free Advice :Spend 10000 Hrs for Trading in your life first then only come on TV ,FACEBOOK ,Chatroom to do Bla Bla and more important thing…First Earn ,Then Mint Money ,Then Create Wealth………then Shout (Remember it will be done by 5% of Traders across Globe )
The great trades don’t require predictions. The Soros trade of going short the pound in 1992 was based on something that had already happened — an ongoing deep recession that made it inevitable that the U.K. would not maintain the high interest rates required by remaining in the E.R.M. Afterward, everyone said, “That was incredibly obvious.”
“Most of the great trades are incredibly obvious. It was the same in late 2007. In my mind, it was clear that the financial system was imploding and that most market participants hadn’t noticed.”
Do you agree that the great trades are obvious? Why do so many market participants miss what is unfolding right before their eyes?
What are the elements in your process for observing, keeping tabs on, and exploiting major macro trends?
Last Close : 5648 level.
Our Yesterday Headline was :
Below 5768-Panic to Continue.Will Try to kiss 5700-5650 ? (What Happened u all know )
Above is Weekly Chart of Nifty Future
No Need to USE BRAIN………………Yesterday Intraday ,We had written :
“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 …!!
There is also the emotional blow up, a trader can lose their faith in themselves or their system and lose the confidence needed to take entries. The entries come and go and they can no longer pull the trigger. Understanding the possible historical draw down of your system and understanding it is the market environment no you who chooses if you win or lose can save you from this fate of ruined confidence.
You could blow up simply due to the fact that your system has no edge, you are just slowly giving your money to the house over and over with commissions and the bid/ask spread. You must understand why you have an edge and take the entries when they come and cut the losses when the trade fails. Is your edge a trend? A chart pattern? A mechanical system? A stock profile? Swing trading? Trader know thy edge or you will not know profitability.
The ONE BIG TRADE blow up is caused when you are 100% sure of a trade and bet your whole account. I do not believe this is really a risk management problem this is an ego problem. When you shift from a 1% risk per trade that gives you 100 chances to win to a 100% risk in one trade you truly must be an egomaniac, a gambler, and doomed to eventual failure.
From Monday ,We were writing to Sell NF and its in freefall mode !!
Yesterday we had written :Below 5637 level it will slide to kiss 5604-5594
During Trading hrs ,Yesterday we had written this :