Nifty Future:
Short below 5428 with Stop at 5452. TGT 5375 – 5340
Stock Future:
Short Axis Bank below 1264 with Stop at 1276. TGT 1238 – 1222
Short LT below 1612 with Stop at 1626. TGT 1585 – 1565
Short Tata Motors below 1132 with Stop at 1144. TGT 1108 – 1090
Note: If stop is takenout after entry, Trend Reversal will take place.
Happy Trading
C T Ramesh Raja
Dear RR ji, Superb…. I am just reproducing what you said in the shout box today….. 24-FEB-2011
I am myself is not a perfect trader and whatever I told you .. is all from my experience….
We trade as per chart and technicals is only about probability and not a science to honour theories…
Trading in market is like Mahabahart.. You should know to defend yourselves to save your skin…One should not be like Abhimanyu in Mahabharat.. You should know the exit…Anyone can make entry .. you need to have proper stop and TSL…..You should know to trail the trade for money management…The success of a trade lies on your entry and trailing the trade… Missing out RULES of Trade, will wipe you out from this business.
You should only have one view about market.. Let market prove you wrong of your analysis… If market proves you wrong.. accept the failure in humble way… we can’t fight with the market.. we are just a drop in the ocean….stick to that… Be Brutal in trade to exit if Stop is takenout….no complecency in this… Never kill a good trade and nurse the bad one… Its a tough business than any others….
If you are trading 200 Nifty or 500 Nifty.. stick to same qty throughout the month and see your performance…Basic success in trading lies that you don’t distard quantity of your trade… One day market will trigger 40 points SL.. Next trade if you don’t take on fear or do less qty.. then your ledger will show dismal performance…
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I really like your comments about changing the quantity of trading often.. It is a hard truth that most of unnecessary failures / losses incurred due to changing the quantity of trading – changing in both side…up & down… it is completely wrong.. but by the time one realize this, alas, he might have already lost major portion of his capital.
for the beginners:
It is always right to start with a small quantity – take a mini or two.. stick to it for a couple of months… check up your self as to how often you are breaking your own rule of trading… first discipline your self… without self-control you cannot survive in the market..
and
as clearly stated by RR.. admit that market is bigger than any one else…When i started trading in equities and index no one was there like RR to guide.. now you have.. learn from him.