What It Takes to Trade for a Living

Trading isn’t easy, especially if you’re trading for a living.
No matter how simple, powerful, and proven a great trading system is, there are always going to be times when your fortitude is tested.  There are always going to be times when the market chews you up and spits you out.
At such times, you have to make a decision regarding just how determined you truly are to succeed at trading.  You have to ask yourself, “How much can I take and keep moving forward?”  You have to look in the mirror and ask, “Do I want to quit?”
And that’s the way it should be!  If it was always easy, everyone would be doing it.
It’s no secret that MOST of the greatest traders throughout history hit rock bottom before they became millionaires and billionaires.  Everyone ..

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DLF,PNB and BHEL trading call

DLF

DLF is forming an symmetrical triangle signalling an explosive move round the corner,Positional traders should keep an eye of 152 level any close above it DLF is heading towards 157 in short term.

Buy above 150 Tgt..

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FII Data Analysis for December Series

• November 2013 is one of the best series till date as Nifty has closed above 6092 after making a new life high of 6342. December series has two crucial events one is State election results which will be declared on 9 Dec and 18 Dec RBI policy. From Historical Data only 3 Years ie 2000,2001 and 2011 has given negative returns highest being 4.3% in December month rest 10 years have been positive 0.4-4% so except positive closing on December series.

FIIs bought 33384 contracts of Index Future  worth 1..


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Election 2014: Modi's multiple challenges

Interesting Report on Election 2014

Global investment banking firm Goldman Sachs had on November 5 upgraded its rating for Indian markets from underweight to market-weight on the back of what it calls the change in India's political climate.
The latest Goldman Sachs report observes: "Equity investors tend to view the BJP (Bharatiya Janata Party) as business-friendly, and the BJP's prime ministerial candidate Narendra Modi (the current chief minister of Gujarat) as an agent of change. Current polls show Mr Modi and the BJP as faring well in the five upcoming state elections, which are considered lead indicators for the general election next year."
The report clearly indicates Modi's victory is a foregone conclusion for share-market watchers, who are taking cues from the various opinion polls that say the BJP has an edge. However, Modi-led BJP will have to break many records to convert the market's wish into a reality.
The BJP got a modest 18.8 per cent votes in the 2009 Lok Sabha elections - the lowest since 1991. The conventional wisdom is that if the party has to come anywhere close to winning 200 Lok Sabha seats in the next Lok Sabha elections, it has to grab 25-26 per cent vote share. Such a massive positive swing in excess of six per cent has rarely..

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Winning Principles for trading

• In life, if you risk everything enough times you will eventually lose everything. Instead, just move in the direction of your goals every day, so even with setbacks, in the long run you will get to where you are going.
• Before making any decision in life, the question: “What do I have to lose?” is a serious question. This should precede, “What do I have to gain?” If the answer is: I could lose $100, but if I am right I could gain $500 and my odds of being right are 50% – then you have a good risk reward profile. If it is reversed, then you have a bad risk reward scenario and should pass. These are also questions you must ask in your marriage, job, business, or friendships before making decisions you regret.
• Failure to admit when you are wrong can be disastrous. When you are going down the wrong road it is better to turn back sooner rather than later. Never fight a war for a hill of bones, because even if you win, all you have is a hill of bones and regret over what it cost you.
• When you have..

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Lupin,Coal India and TCS technical analysis

Lupin

Lupin is near the Fibo fan bottom , Holding 843 and closing above 851 short term target for stock comes at 868 and 898.

Buy above 851 Tgt..

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Bank Nifty Weekly analysis for November expiry

Last Week we gave Weekly Chopad level of 11101 Bank Nifty did the one target on upside and thee targets are downside.Next week being an expiry week will be volatile.

Bank Nifty Hourly

Bank Nifty hourly will resist to its 50 HMSA and gap


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Nifty Weekly analysis for November expiry

Last Week we gave Weekly Chopad level of 6108 Nifty did the two target on upside and two targets are downside.Next week being an expiry week will be volatile.

Nifty Hourly Chart

 

Nifty once it will move above its 50 HSMA@..

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Billionaire Traders and Hedge Fund Manager

Carl Icahn

Net worth: $20 billion
At 77, Icahn enjoyed another strong run in 2012, beating the U.S. stock market and most hedge fund managers. The investment pool he manages for himself and his employees returned more than 20% in 2012, thanks to bets on Hain Celestial Group and CVR Energy. Icahn, who was born in Brooklyn and grew up in Queens, returned his hedge fund’s outside money in 2011. Separately, shares of his Icahn Enterprises, which invests in rail cars, retail, gaming, and energy, surged at the start of 2013. He started 2013 by locking horns with hedge fund trader Bill Ackman over Herbalife, the nutritional supplement seller Herbalife. Icahn took a roughly 13% position in the company after taking on Ackman in a verbal slugfest on CNBC...

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Worlds Richest TA Traders

I was very happy to discover that the Forbes Rich List was scattered with investors and hedge fund managers who have profited handsomely despite giving fundamentals a back seat.  Here are my favourites from the 2012 list:

2012 Forbes – #82 James Simons – 11.0 Billion
Sometimes referred to as the “Quant King” he is also a maths guru and a very smart cookie who studied maths at MIT and got a Ph.D. from UC, Berkeley.  Simons deciphered codes for U.S. department of defence during Vietnam and went on to found Renaissance Technologies in 1982 and at the start of 2013 was managing over 15 billion.
He Co-authored Cherns-Simons theory in 1974; a geometry based formula now used by mathematicians to distinguish between distortions of ordinary space that exist according to Einstein’s theory of relativity.  In addition to this it had been used to help explain parts of the string theory.
Renaissance Technologies is a quantitative hedge fund that uses complex computer models to analyze and trade securities.  A $10,000 investment with them in 1990 would have been worth over $4 million by 2007.
We are a research ..

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FII F&O data analysis for 21 Nov

• FIIs sold 5645 contracts of Index Future (sold 2149 long contract and 3496 shorts were added ) worth 172 cores with net Open Interest increasing by 1347 contracts.
  

Nifty as discussed yesterday gave a broad move and formed an evening start candlestick pattern, which is bearish in nature. If we break 6100 tomorrow we will see another round of selling till..

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Tata Steel,Century and Indusind bank technical analysis

Tata Steel

Tata Steel had a awesome bull ride, prices are consolidating and positional shorts can be taken below 377 for short term target of  364 and 343.4

Buy above 386 Tgt..

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LT,JSW Steel and Yes Bank Technical Analysis

Larsen

Larsen and Tubro is near an important gann level of 1008, Stock is supporting its trendline and will face resistance at the higher end.Positional traders should wait for close below 987 for target of 953 and 932.

Buy above 998 Tgt..

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FII F&O data analysis for 20 Nov

• FIIs bought 2298 contracts of Index Future (bought 10405 long contract and 8107 shorts were covered ) worth 72 cores with net Open Interest increasing by 18512 contracts.So as Nifty formed a DOJI, FII's have created both long and short position in index future.
  

Nifty continued with its rise for 3 day again and closed around the supply zone of 6200 with a DOJI formation. Looking at today's price analysis it seems market is going to give a good price..

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How To Break Bad Trading Habits

All traders should have a good trading plan. One of the worst bad habits a trader can have is trading impulsively and without any guidelines. Traders who take the time to make a trading plan are much more likely to succeed, but even with a plan in place we can develop bad habits. A trader will make impulsive trades even with their plan taped to the wall next to them. They may exit winning trades too quickly or let losses go longer than their plan states they should. In this article we will go into how we can change our bad habits. The process involves how we personally view our successes and failures, as well as the rewards and punishment we give ourselves based on these views.

In order to break bad trading habits, traders need to base success or failure on each trade by how they stick to their trading plans and not simply on whether they make or lose money.

If you make a bad trade (that is, an undisciplined trade, one not part of your trading plan), but make money on it, you still have to view that as a failure; ..

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How Long Does It Take To Learn How To Trade?

I am often asked during my trading sessions  - how long does it take to learn how to trade ? That is a tough question to answer. The short answer is that a diligent person can learn the basics of trading in a couple months. The long answer is that it can take a lifetime to master. Its very important to realize for trader, Master in trading does not come overnight, It takes Years and years of efforts coupled with burning desire to succeed with setbacks market will offer you.
Since most people just want to make a consistent profit from trading , we will concentrate on the time frame for achieving that.

The One-Year Mark

The one-year time frame is the most critical..

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Trading with the trend why its so important

As a trader, you have probably heard the old adage that it is best to trade with the trend. The trend, say all the pundits, is your friend. This is sage advice as long as you know and can accept that the trend can end. And then the trend is not your friend.

Believe What You See, Not What You Hear or Read

Now the below 2 charts would have blown of trading capital of a short trader, if trader is trading without any initial risk management, so always try to be with the trend.

Japanese Stock Market  is up 1480 points in 6 days

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S&P 500 10% Correction Could Be 5 Years Away

This is an Interesting information for all the Die Hard Bulls and Bears.  Looking at Fed Yellen Testament yesterday it seems to be true.

There has been a lot of concern that US stocks have gone too far lately without a 10% correction. The fear is that, if the market goes on too long without losing at least a tenth of its value off a high, any pullbacks to come in the future will be a lot more dramatic.
The analysts over at Bespoke Investment Group took a look at that question this week and came up with an interesting study. They observed that the S&P 500 has now rallied 59% over a period of 515 trading days since Oct. 3, 2011, without logging a 10% decline from a high. And while it is certainly unusual, it is by no means unprecedented, or even close to the longest such streak.












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How retail traders can improve trading performance

Band new Trading day has started and Rahul was ready to trade, As market opened Rahul can see his trade set up giving a Buy Signal but Hesitation gripped Rahul’s tensed hand. He couldn’t decide when to enter this trade. His trading plan said he had really gone past the entry point he should have taken. But he had hesitated – what if he was wrong? He decided to wait and track it just a little longer – just to be safe. This was the story of his trading life – waiting on the sideline frozen by his fear of uncertainty. “If I stay on the sideline, I’ll be safe,” he consoled himself. He watched the price go higher and higher. Still he hesitated.
But as he hesitated on the sideline pondering this trade, Rahul also began to fear he was missing out on a profitable trade – he wanted in. He felt the urgency build. “Just a little more proof”, his tentative side whispered in his ear. “Get in this trade before it’s too late!” urged another impulse, “Sitting on the sideline isn’t getting you anywhere. You’ve got to get in to win.”
This internal struggle in

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Coal India,Canara Bank and RCOM Technical Analysis

RCOM

Holding its important MA where it has bounced before.Any close above 137 stock is heading to 145 is short term.

Buy above 137.5 Tgt..

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FII FnO data analysis for 12 Nov

• FIIs sold 17270 contracts of Index Future (sold 21945 long contract and 4675 shorts were covered ) worth 531 cores with net Open Interest decreasing by 22704 contracts.Again FII's are not adding any fresh shorts exiting longs so relief rally is on cards in next 2 days.
  

Nifty continued with its correction for 6 day running and broke the crucial support of 6100 and closed below it but closed above an Important chopad level suggesting, if todays low is not..

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The Three Keys That Unlock Trading Success

Trading System

• They trade a robust system or method that wins more money over time than it loses.
• Their system gives them a reward to risk ratio that is in their favor.
• Their system or method is proven to work with a live trading record over many markets and trades or has  historical back testing.

Trading with Managed Risk

• They manage the risk of ruin to avoid blowing up their account.
• They risk no..

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Nifty holds 6200, FII Data analysis for 07-Nov

• FIIs sold 30336 contracts of Index Future (sold 16185 long contract and 14151 shorts were entered ) worth 933 cores with net Open Interest decreasing by 1726 contracts.Fall has been not swift but slow and steady decline in Intraday, suggesting traders are still bullish in market and using dips to Buy, but all intraday rallies are getting sold into as FII are using rise to exit longs and enter shorts.
  

Nifty continued with its correction for 2 day running and broke the crucial support of 6230-6235 and closed below it,Nifty had retraced 50% of the current rise from 6079

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Samvat 6070: Muhurat trading explained

The “muhurat” trading session will be conducted for 75 minutes today, on leading bourses NSE and BSE, to pay obeisance to Lakshmi, the Hindu goddess of wealth and prosperity. It would also mark the New Year for traders as per the Hindu calendar, or Samwat 2070.

What is Muhurat Trading:

Muhurat trading is the auspicious stock trading practice for an hour on Diwali (Deepawali) is done traditionally to celebrate New Year. It is a symbolic ritual which has been performed for years. As Diwali also marks the beginning of the New Year, it is believed that muhurat trading on this day brings in wealth and prosperity throughout the year.

It is believed that “Muhurat’ is an auspicious time according to the Hindu calendar where the planets align themselves in such a way that the task you perform during this time duration, becomes fruitful and without the influences of evil forces. While getting married on a specific Muhurat is common, so is trading in ...

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Muhurat Trading session: Vows Traders should make to avoid loss

Muhurat trading is the auspicious stock trading practice for an hour on Diwali (Deepawali) is done traditionally to celebrate New Year. It is a symbolic ritual which has been performed for years. As Diwali also marks the beginning of the New Year, it is believed that muhurat trading on this day brings in wealth and prosperity throughout the year.

Vows traders should make on Mahurat Trading session to follow for next full year.

Perfectionism: There is no perfection in trading as far as making money on every trade or having a perfect system. All you can hope to be perfect at, is following your system, rules, and trading plan. A winning trade should be measured as one in which you followed all your preset guidelines. Even the best traders only average about a 50%-60% win rate at best over long periods of time. The key is having bigger winners than losers, not ...

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