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WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by :
MMB Moderator
Boarder Since : 24th Dec 02
Posted 894 messages to date
Hi hindlevernet,
In your own words "if you see somthing wrong, just ignore it and if you find something appreciable, do not forget to compliment"
We will appreciate if you follow your principle... please donot mark messages as offensive and delete them off the board.. if the messages donot break the code of conduct on the MMB.
-MMB Moderator
The 22 Rules of Trading
Posted by : MMB Moderator
Boarder Since : 24th Dec 02
Posted 894 messages to date
We give you Master Trader Dennis Gartman's 22 Rules of Trading, many of which you can apply to all sorts of life situations, as well as the markets.
1. Never, under any circumstance add to a losing position.... ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin!
2. Trade like a mercenary guerrilla. We must fight on the winning side and be willing to change sides readily when one side has gained the upper hand.
3. Capital comes in two varieties: Mental and that which is in your pocket or account. Of the two types of capital, the mental is the more important and expensive of the two. Holding to losing positions costs measurable sums of actual capital, but it costs immeasurable sums of mental capital.
4. The objective is not to buy low and sell high, but to buy high and to sell higher. We can never know what price is "low." Nor can we know what price is "high." Always remember that sugar once fell from $1.25/lb to 2 cent/lb and seemed "cheap" many times along the way.
5. In bull markets we can only be long or neutral, and in bear markets we can only be short or neutral. That may seem self-evident; it is not, and it is a lesson learned too late by far too many.
6. "Markets can remain illogical longer than you or I can remain solvent," according to our good friend, Dr. A. Gary Shilling. Illogic often reigns and markets are enormously inefficient despite what the academics believe.
7. Sell markets that show the greatest weakness, and buy those that show the greatest strength. Metaphorically, when bearish, throw your rocks into the wettest paper sack, for they break most readily. In bull markets, we need to ride upon the strongest winds... they shall carry us higher than shall lesser ones.
8. Try to trade the first day of a gap, for gaps usually indicate violent new action. We have come to respect "gaps" in our nearly thirty years of watching markets; when they happen (especially in stocks) they are usually very important.
9. Trading runs in cycles: some good; most bad. Trade large and aggressively when trading well; trade small and modestly when trading poorly. In "good times," even errors are profitable; in "bad times" even the most well researched trades go awry. This is the nature of trading; accept it.
10. To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market's technicals. When we do, then, and only then, can we or should we, trade.
11. Respect "outside reversals" after extended bull or bear runs. Reversal days on the charts signal the final exhaustion of the bullish or bearish forces that drove the market previously. Respect them, and respect even more "weekly" and "monthly," reversals.
12. Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.
13. Respect and embrace the very normal 50-62% retracements that take prices back to major trends. If a trade is missed, wait patiently for the market to retrace. Far more often than not, retracements happen... just as we are about to give up hope that they shall not.
14. An understanding of mass psychology is often more important than an understanding of economics. Markets are driven by human beings making human errors and also making super-human insights.
15. Establish initial positions on strength in bull markets and on weakness in bear markets. The first "addition" should also be added on strength as the market shows the trend to be working. Henceforth, subsequent additions are to be added on retracements.
16. Bear markets are more violent than are bull markets and so also are their retracements.
17. Be patient with winning trades; be enormously impatient with losing trades. Remember it is quite possible to make large sums trading/investing if we are "right" only 30% of the time, as long as our losses are small and our profits are large.
18. The market is the sum total of the wisdom ... and the ignorance...of all of those who deal in it; and we dare not argue with the market's wisdom. If we learn nothing more than this we've learned much indeed.
19. Do more of that which is working and less of that which is not: If a market is strong, buy more; if a market is weak, sell more. New highs are to be bought; new lows sold.
20. The hard trade is the right trade: If it is easy to sell, don't; and if it is easy to buy, don't. Do the trade that is hard to do and that which the crowd finds objectionable. Peter Steidelmeyer taught us this twenty five years ago and it holds truer now than then.
21. There is never one cockroach! This is the "winning" new rule submitted by our friend, Tom Powell.
22. All rules are meant to be broken: The trick is knowing when... and how infrequently this rule may be invoked!
Extracted from frontlinethoughtsdotcom (and available from many web sites).
-MMB Moderator
Dear Sir:
My views are a little brutally frank. Unfortunately, equity management is not like most other profesions, where repetitive similar tasks form the major portion of day to day work: cut and paste and make a few edit corrections, being the norm. The Indian stock markets have, in the main, over the last several years, bar the current one, been very benign so that even the naive has made adequate profits. So the task of professional asset managers has been relatively simple with even the mediocre getting carried away by his/her (quote) acvhievements (unquote). It is only in recent times that he/she has been tested and the wheat is getting separated from the chaff.
Investment through mutual funds is not the end all of your money management. It is the intermediate halt of novices who are still learning their way through the markets. Studying and investing directly in stocks is the ultimate aim.
I have just bought a car, and have engaged a professional driver. The way he does it and the scant respect he shows for the car has me in tears most of the time. This certainly cannot be the long term permanant solution. I need to learn to drive and more importantly to look after and maintai the vehicle on a day to dy basis quickly. Till then I have to make do with hired help. Just like most readers of this Board. That is whatthe Mutual Fund is all about. Several, very many semi-ignorant people using the hands of the fund managers to find their foothold before breaking loose.
If during the period you were with your Mutual Funds you had opted instead to pick your own stocks, with your limited and unlearned familiarity with the big bad world of equities, you would most probably have lost a lot more than what you now have thanks to the Fund Manager.
Therein lies the creditable role of the Fund Manager.
tks & rgds
SARVAM KRISHNAARPANAM
Bhavani
GV Uncle:
Any one, MMB techies are no exceptions, who comes seeking comments after a fait accompli, only wants a few pats on the back. He comes anticipating scores of garlands, and is totally immune to any words that suggest it could have been done any better. That is the way of the ego-infested world.
Any one who really plans a change to benefit a large number of people would seek inputs, from those it is meant to benefit, for change before embarking on the exercise.
It would have been a far, far better thing if MMB had announced first that they plan to do a rehash of the Board and sought information on what changes we would have liked them to incorporate.
In the final analysis, it is much like the hordes of newbies who come onto several of the financial blogs and message boards saying they purchased XYZ stock yesterday and seek guidance on whether what they did is a right strategic ploy. They get their egos up if a few reply that it was a great pick, but if any one says it was the worst choice he could have made, he just flares up and justifies his choice, fallacies in his arguments notwithstanding.
MMB is doing just that, insisting that what it has done is what is best for us and searching justifications.
tks & rgds
SARVAM KRISHNAARPANMAM
Bhavani
received from a friend.....
Posted by : periwinkle
Boarder Since : 7th May 05
Posted 3061 messages to date
here\`s one for all of us, micky:::
(received from the same friend)
Wuff Wuff :) Dog\`s Purpose (from a 6-year-old).
Being a veterinarian, I had been called to examine a ten-year-old Irish Wolfhound named Belker. The dog\`s owners, Ron, his wife Lisa, and their little boy Shane, were all very attached to Belker, and they were hoping for a miracle.
I examined Belker and found he was dying of cancer. I told the family we couldn\`t do anything for Belker, and offered to perform the euthanasia procedure for the old dog in their home.
As we made arrangements, Ron and Lisa told me they thought it would be good for six-year-old Shane to observe the procedure. They felt as though Shane might learn something from the experience.
The next day, I felt the familiar catch in my throat as Belker\`s family surrounded him. Shane seemed so calm, petting the old dog for the last time, that I wondered if he understood what was going on. Within a few minutes, Belker slipped peacefully away.
The little boy seemed to accept Belker\`s transition without any difficulty or confusion. We sat together for a while after Belker\`s Death, wondering a loud about the sad fact that animal lives are Shorter than human lives. Shane, who had been listening quietly, piped up, \`I know why.\`
Startled, we all turned to him. What came out of his mouth next stunned me. I\`d never heard a more comforting explanation.
He said, \`People are born so that they can learn how to live a good Life -- like loving everybody all the time and being nice, right?\` The Six-year-old continued, \`Well, dogs already know how to do that, so they don\`t have to stay as long.\`
Live simply.
Love generously.
Care deeply.
Speak kindly.
Remember, if a dog was the teacher you would learn things like :
When loved ones come home, always run to greet them.
Never pass up the opportunity to go for a joyride.
Allow the experience of fresh air and the wind in your face to be pure Ecstasy.
Take naps.
Stretch before rising.
Run, romp, and play daily.
Thrive on attention and let people touch you.
Avoid biting when a simple growl will do.
On warm days, stop to lie on your back on the grass.
On hot days, drink lots of water and lie under a shady tree.
When you\`re happy, dance around and wag your entire body.
Delight in the simple joy of a long walk.
Be loyal.
Never pretend to be something you\`re not.
If what you want lies buried, dig until you find it.
When someone is having a bad day, be silent, sit close by, and nuzzle them gently.
(micky, why not me over coffee???)
MMB Mod, msgboard might be redesigned for something but better navigation and seamless user experience. i think designer of msgboard hasn't been paid enough and been made to slog for penny so he has paid back without considering usability and look. In ONE WORD, redesign SUCKS big time.
received from a friend.....
Posted by : eashwar
Boarder Since : 5th Apr 05
Posted 516 messages to date
I agree Jainism and Buddhism are least violent of all religions. Jainism is atheistic and denies existence of God and Buddhism is agnostic, it neither accepts nor denies existence of God. Is it a coincidence that atheist/agnostic religions are less violent compared to monotheistic creeds and therefore morally superior?
The Christian Europe was religious and violent few centuries ago. Now the europeans have become overwhelmingly atheist/agnostic ie they have moved away from their religion. They are less violent now.
This contradicts the view that it is the followers of a religion who make it violent and not the religion itself. People who want to sound politically correct will do well to read the scriptures of such religions before coming to conclusions.
I disagree with the view that religions are the sole upholders of morality. Violence is the highest form of immorality and when religions have been one of the main reasons for violence through out human history, how can they be upholders of morality?
Well Done Abhinav Bindra. You `ve made us all very proud.
Winning is an attitude.Whatever you want in life ,other people are going to want too.You just have to want it that much more.....and you have to believe in yourself enough...
Great Abhi....just great
heres one for you peri,
FROGS
Once upon a time there was a bunch of tiny frogs.... who arranged a running competition.
The goal was to reach the top of a very high tower.
A big crowd had gathered around the tower to see the race and cheer on the contestants....
The race began....
Honestly:
No one in crowd really believed that the tiny frogs would reach the top of the tower.
You heard statements such as:
"Oh, WAY too difficult!!"
"They will NEVER make it to the top."
or:
"Not a chance that they will succeed. The tower is too high!"
The tiny frogs began collapsing. One by one....
Except for those, who in a fresh tempo, were climbing higher and higher....
The crowd continued to yell, "It is too difficult!!! No one will make it!"
More tiny frogs got tired and gave up....
But ONE continued higher and higher and higher....
This one wouldn't give up!
At the end everyone else had given up climbing the tower. Except for the one tiny frog who, after a big effort, was the only one who reached the top!
THEN all of the other tiny frogs naturally wanted to know how this one frog managed to do it?
A contestant asked the tiny frog how he had found the strength to succeed and reach the goal?
It turned out....
That the winner was DEAF!!!!
The wisdom of this story is:
Never listen to other people's tendencies to be
negative or pessimistic.... because they take your most wonderful dreams and wishes away from you -- the ones you have in your heart!
Always think of the power words have.
Because everything you hear and read will affect your actions!
Therefore:
ALWAYS be....
POSITIVE!
And above all:
Be DEAF when people tell YOU that you cannot fulfill your dreams!
Always think:
God and I can do this!
regards to all
see you peri,
ot
gaba
googol
and to all my other friends... shall be away for a coupla days...
innovation should facilitate boarders and not confuse them but its the reverse
The earlier format was quite handy and one could know how many message after one visited or how many messages/replies one has received to his/her post
All this is confusing
i would request you to restore the old one but can give little better outlook
thanks-jagdish gaba
Chat
Prakash Gaba
Technical Analyst ,
(22 Aug- 15:30hrs)
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